Ophthalmology Devices market is valued at USD 31.5 billion in 2015. The ophthalmic devices are designed for vision correction, surgical, and diagnosis.

These devices increased adoption and importance owing to rising prevalence of several ophthalmic diseases such as cataract, glaucoma, and other vision-related issues. The growth is primarily driven by the increase in technological advancements such as mydriatic fundus cameras, intraocular lenses, and OCT devices, Lasers usage in the treatment of several eye disorders especially diabetic retinopathy and cataract, Research & Development activities in Ophthalmology Devices. Furthermore, convenience to eye care and lack of awareness in emerging region are the major challenges to market growth. Key opportunity is the less adoption of premium intra ocular lenses and phacoemulsification devices in the emerging countries.

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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Ophthalmology Devices Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.

The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.

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Product: § Diagnostic and Monitoring Devices § Ophthalmology Surgery Devices § Vision Care

Regions: § North America o U.S. o Canada § Europe o UK o Germany o France § Asia Pacific o China o India o Japan § Latin America o Brazil o Mexico § Rest of the World

On the basis of product type, the market is segmented into vision care devices, surgical devices, and diagnostic & monitoring devices. In 2015, the vision care devices segment accounted for the highest share of this market and is expected to grow at a CAGR of around 3% during the forecast period.

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On the basis of diagnostic & monitoring devices, the market is segmented into the corneal topoghaphers, ophthalmic ultrasound imaging systems, optical coherence tomography scanners, ophthalmoscopes, retinoscopes, Fundus cameras, wavefront aberrometers, autorefractors/phoropters, specular microscopes, keratometers, tonometers, slit lamps, and perimeters/visual field analyzers. This segment is anticipated to grow at a CAGR of above 6.0% during the forecast period. In 2015, the optical coherence tomography scanners segment is the major segment of the ophthalmology diagnostic and monitoring devices market.

The global market is dominated by North America region followed by Asia Pacific and Europe. In 2015, North America dominated the market at above 35% due to the presence of major distribution channels, rising adoption of advanced ophthalmic devices, and presence of major companies in this region. The Asia-Pacific region is projected to witness the high growth in the market due to, the increasing per capita income, improving healthcare infrastructure, and increasing geriatric population. Furthermore, manufacturers are growing focus on their presence in emerging countries.

Some of the major players involved in the research and development of Ophthalmology Devices market are; Essilor International, Alcon Inc., Johnson & Johnson, Bausch & Lomb, Inc., Abbott Medical Optics Inc, Haag-Streit, Carl Zeiss Meditec AG, Topcon Corporation, Ziemer Ophthalmic Systems AG and Nidek Co. Ltd. The key strategies adopted by these players in this market are agreements, collaborations, product launches, partnerships, growing presence in emerging markets to increase their revenue

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What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level. Reports on the market include the growth rates of each region, which includes their countries, over the coming years. How are the key players in the market assessed? This report provides a comprehensive analysis of leading competitors in the market. The report includes information about the key vendors in the market. The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured. The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players. A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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