Pune, Feb. 04, 2020 (GLOBE NEWSWIRE) -- The global Ophthalmic Surgical Devices Market size is anticipated to reach USD 12.75 billion by 2026, registering a CAGR of 4.8% during the forecast period. Rising prevalence of cataract is one of the key factors fueling this market. The World Health Organization (WHO) defines cataract as “clouding of the lens of the eye which impedes the passage of light”. The WHO estimates that currently there are approximately 18 million around the world that are blind in both eyes due either to improper surgery or inaccessibility to advanced procedures. While this eye condition mostly occurs as a person ages, the WHO claims that other risk factors such as diabetes, exposure to UV light, and smoking are fast emerging as major grounds for cataract. Moreover, the International Agency for the Prevention of Blindness (IAPB) states that blindness from cataract is around 5% in developed countries and 50% in developing and underdeveloped nations. Increasing demand for ocular treatments from emerging economies is, therefore, expected to lead the Ophthalmic Surgical Devices Market trends in the upcoming decade.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/ophthalmic-surgical-devices-market-102054
The above insights are provided in a recent Fortune Business Insights™ report, titled “Ophthalmic Surgical Devices Market Size, Share & Industry Analysis, By Product Type (Cataract Surgery Devices, Vitreoretinal Surgery Devices, Refractive Error Surgery Devices, Glaucoma Surgery Devices), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026”. The report further states that the value of this market stood at USD 8.79 billion in 2018. The main highlights of the report include:
- In-depth study of the competitive landscape with main focus on companies’ profiles, strategies, and products launched;
- Meticulous segmentation of the market and research into individual segments;
- Detailed analysis of the regional dynamics; and
- Microscopic evaluation of the various drivers and restraints influencing the market.
Growing Number of Aged People Worldwide to Prove Beneficial for the Market
According to the WHO, aging is the primary reason for the development of eye diseases and conditions. The condition develops slowly as the strength of the lens in the eye deteriorates with age and diminishes vision. Therefore, as world population ages, the incidence of age-related ocular disorders is likely to rise. According to the Department of Economic and Social Affairs of the UN, by 2050, there will be close to 2.1 billion people crossing the age of 60. Estimates released by AGS Health in Aging Foundation reveal that 20% of the adults above 60 years of age developed cataract in one or both eyes in 2019. Further, Mayo Clinic reports that glaucoma, which occurs due to damaged optic nerve in people over the age of 60, is one of the top causes of blindness in the world. Thus, growing global geriatric population would boost the ophthalmic surgery devices market growth.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/ophthalmic-surgical-devices-market-102054
Patient-friendly Healthcare Policies to Propel the Market in North America
North America is predicted to dominate the Ophthalmic Surgical Devices Market share over the forecast period, having generated a revenue of USD 2.82 billion in 2018. The most favorable factor for the market here is the convenient nature of healthcare policies. Apart from this, increasing prevalence of cataract, glaucoma, and refractive errors, along with strong presence of other risk factors such as smoking and diabetes, will also further the growth of the market in North America.
Asia-Pacific is expected to significantly contribute to the ophthalmic surgical instrument market revenue owing to the rising number of aging people in China and Japan and growing incidence of ocular disorders. In Europe, the market will be driven by active adoption of advanced diagnostic and surgical procedures.
Interesting New Product Launches to Fire up Competitive Spirits
The ophthalmology surgical devices market analysis points towards a period of fierce competition in this market as key players introduce novel products to strengthen their hold on the market. Additional encouragement is being provided by timely regulatory approvals to innovative offerings.
Industry Developments:
- August 2019: New World Medical, a renowned company in ophthalmological devices, launched its brand new glaucoma drainage tool, Ahmed ClearPath, in the US. The device consists of a flexible plate designed to align with the curvature of the eye and anteriorly placed suture fixation points for efficient drainage.
- July 2019: The Irish pharmaceutical giant, Allergan, announced that its New Drug Application for the company’s Bimatoprost Sustained-Release has been accepted by the US FDA. If successful, the product would be the first-of-its-kind biodegradable implant for treating patients with glaucoma or ocular hypertension.
Major Companies Profiled in the Ophthalmic Surgical Devices Market Report:
- Oertli Instrumente AG
- Allergan
- Hoya Corporation
- Bausch & Lomb Incorporated
- Johnson and Johnson Services, Inc.
- New World Medical, Inc.
- Glaukos
- STAAR SURGICAL
- ZEISS International
- Alcon (Part of Novartis AG)
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/ophthalmic-surgical-devices-market-102054
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Number of Cataract Surgeries - For Key Country/Region
- Pipeline Analysis
- Key Industry Developments - Mergers, Acquisitions, and Partnerships
- Technological Advancements in Ophthalmic Surgery
- Introduction of New Products / Approvals (by Major Players)
- Global Ophthalmic Surgical Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Surgery Type
- Cataract Surgery Devices
- Phacoemulsification Systems
- Femtosecond Laser
- Intraocular Lenses
- Ophthalmic Viscoelastic Devices & Other Consumables
- Vitreoretinal Surgery Devices
- Equipment
- Consumables
- Refractive Error Surgery
- Equipment
- Consumables
- Glaucoma Surgery
- Cataract Surgery Devices
- Market Analysis, Insights and Forecast – By End-user
- Hospitals
- Ophthalmic Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Latin America
- Middle East & Africa
Request for Customization https://www.fortunebusinessinsights.com/enquiry/customization/ophthalmic-surgical-devices-market-102054
Have a Look at Related Reports:
Robotic Surgical Procedures Market Size, Share and Global Trend By Product Type (Gynecology, Urology, General Surgery, Orthopedics and Others) and Geography Forecast till 2025
Retinal Disease Therapeutics Market Size, Share and Global Trend By Disease Indication (Macular Degeneration, Diabetic Retinopathy, Diabetic Macular Edema, Retinal Vein Occlusion), Distribution Channel (Hospital Pharmacy, Retail Pharmacy) and Geography Forecast till 2025
Ophthalmic Disease Therapeutics Market Size, Share and Global Trend By Disease Indication (Glaucoma, Retinal Diseases, Dry Eye Disease, Allergy & Infections), By Drug Class (Anti-inflammatory, Anti-infectives, Anti-VEGF, Anti-glaucoma), By Dosage Form (Solid, Liquid, Semi-solid), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) By Geography Forecast till 2026
Cataract Surgical Devices Market Size, Share & Industry Analysis, By Product Type (Phacoemulsification Systems, Femtosecond Laser, Intraocular Lenses, Ophthalmic Viscoelastic Devices & Other Consumables), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026
Sports Medicine Market Size, Share & Industry Analysis, By Device Type (Surgery Devices, Bone Reconstruction Devices, Body Support Devices, Others), By Application (Knee, Head & Neck, Shoulder, Ankle & Foot, Wrist & Elbow, Others) By End User (Hospitals, Specialty Clinics), and Regional Forecast, 2019-2026
Surgical Lights Market Size, Share & Industry Analysis, By Technology (LED, and Halogen), By End User (Hospitals & ASC’s, Specialty Clinics, and Others (Procedure Rooms, etc.)) and Regional Forecast, 2019-2026
Spectacles Market Size, Share & Industry Analysis, By Product Type (Spectacles Frames and Spectacle Lenses), By Modality (Prescription and Over-the-counter) By Distribution Channel (Retail Store, Online Store, Ophthalmic Clinics), and Regional Forecast, 2019-2026
Examination Lights Market Size, Share & Industry Analysis, By Technology (LED, and Halogen), By End User (Hospitals, Clinics, and Others) and Regional Forecast, 2019-2026
Wearable Medical Devices Market Size, Share and Industry Analysis By Product (Diagnostic & Patient Monitoring, Therapeutic), By Application (Remote Patient Monitoring and Home Healthcare, Sports and Fitness), By Distribution Channel (Retail Pharmacies, Online Pharmacies, Hypermarkets), and Regional Forecast 2019-2026
Mass Spectrometer Market Size, Share and Industry Analysis By Product (Hybrid, Single), By End-user (Biopharmaceutical and Pharmaceutical Companies, Research Institutes & Government Organization, Hospitals & Diagnostic Centers, Others (Environmental testing, food, and chemical testing)) and Regional Forecast, 2019 - 2026
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release https://www.fortunebusinessinsights.com/press-release/ophthalmic-surgical-devices-market-9553