Luton, Bedfordshire, United Kingdom, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Ophthalmic Equipment Market.
The global Ophthalmic Equipment Market size is USD 52.80 billion in 2020 and is expected to grow to USD 75.14 billion by 2029, at a Compounded annual growth rate (CAGR) of 4.20%.
Medical procedures and elective surgeries have also been subjected to restrictions and bans by governments. The need for ophthalmic equipment has been limited by these limits. Ophthalmic equipment manufacturers are having difficulty giving in-person product presentations, working at full capacity, and attending or organising conferences as a result of these restrictions. Lockdowns in APAC countries like China and India have caused ophthalmic equipment production and shipment to be delayed. All of these challenges make the growth of the ophthalmic equipment market difficult.
Over 2 million persons in the United Kingdom were blind in 2013, according to the Royal National Institute of Blind Persons (RNIB), with that number expected to climb to 4.1 million by 2050. Demand for precision disease treatment is expected to rise in the coming years as the prevalence of eye illnesses rises, resulting in an increase in disability-adjusted life years (DALYs). As a result, global demand for ophthalmic equipment will increase.
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Industry Insights:
Bausch + Lomb (Canada)
Overview: In February 2020, to raise awareness about AMD, Bausch + Lomb (Canada) cooperated with Prevent Blindness (US) using social media platforms to share information with the public.
In May 2020, Bausch + Lomb (Bauer + Lomb) LuxSmart, the company’s first EDOF IOL, and LuxGood, a monofocal IOL with a preloaded delivery system and pure refractive optics (PRO) technology, were introduced.
Haag-Streit Group (Switzerland)
Overview: In April 2020, Haag-Streit Group (Switzerland) bought VRmagic Holding AG (Germany) to bolster Haag-ophthalmology Streit’s market leadership.
Regional outlook-
Asia pacific currently dominates this market and is expected to remain so for the foreseeable future. According to the United Nations Economic and Social Affairs Report (2019), Asia population of people aged 65 and older is expected to increase from 395.3 million in 2019 to 587.4 million by 2030, leading to an increase in the prevalence of age-related eye diseases. Glaucoma affects around 3.5 percent of those over the age of 45 in China, although it climbs substantially with age, reaching over 9 percent in the population over 65. Similarly, as the prevalence of diabetes rises in India, so does the number of cases with age-related macular degeneration (AMD).
Ophthalmic Equipment Market- Growing competition among key players, increasing horizontal and vertical expansion is further expected to fuel the growth of Ophthalmic Equipment Market.
The Key Players in Ophthalmic Equipment are essilorluxottica, Alcon, Johnson & Johnson Vision Care, HOYA Corporation, Bausch + Lomb, Carl Zeiss Meditec, Topcon, Glaukos Corporation, Haag-Streit, NIDEK, STAAR Surgical, Ziemer Ophthalmic Systems, coopervision, Inc, and others.
Ophthalmic Equipment Market Scope and Segmentation
| Attributes | Details (Current Scenario) |
| Base-Year | 2021 |
| Historic Data | 2016-2021 |
| Forecast Period | 2022-2029 |
| Ophthalmic Equipment Market Regions Covered |
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| product Type |
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| End Use Industry |
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| CAGR (Ophthalmic Equipment Market) | 10.3% (Current Market Analysis) |
| Largest Regional market | 43% (Asia Pacific) |
| Customization Available | Yes, the report can be customized as per your need. (Free 15% Customization) |
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Leading businesses are concentrating on increasing their market share.
The market’s top players have made significant investments in both research and development and production. The top leaders’ expansion plans include product offers that are backed up by excellent operational efficiency and cutting-edge technology. They’ve all emphasised the need of well-established supply chains. Leading firms are producing new products and purchasing small-scale producers or suppliers to strengthen their market position and remain ahead of the competition.
What are the Ophthalmic Equipment Market factors that are explained in the report?
- Ophthalmic Equipment Market Estimates and Forecasts (2022-2029)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand Share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Demand for Ophthalmic Equipment and How to Navigate
- Recommendation on Key Winning Strategies
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