Based on type, the global ophthalmic devices market is segmented into vision care devices, diagnostic devices, and surgery devices. The vision care devices segment is the largest segment and surgery devices is the fastest growing segment. Vision care devices have two key sub-segments, contact lenses and spectacle lenses. Although spectacle lenses are more widely used, contact lenses will witness substantial growth through to 2020. The surgery devices segment is bifurcated into cataract surgery devices, glaucoma surgery devices, refractive error surgery devices, and vitreoretinal surgery devices. Cataract surgery devices however for the largest sub-segment. The sub-segments of the diagnostic devices segment include optical coherence tomography scanners, fundus cameras, tonometers, ophthalmoscopes, retinoscope, pachymeter, wavefront aberrometers, corneal topographers, biometers, keratometers, visual field analyzers, specular microscopes, autorefractors, and ophthalmic ultrasound imaging systems.
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Geographically, the global ophthalmic devices market is segmented into four key regions viz. North America (the U.S.), Europe (Germany, France, Italy, Spain, and the U.K.), Asia (China, Japan, and India), and rest of the world. North America is the leading market globally and will remain the dominant market during the forecast period as well. The North American ophthalmic devices market recorded a value of US$ 11.45 Bn in 2014. The market will reach a value of US$ 16.24 Bn, expanding at a CAGR 6% over the six-year period. Europe also represents a major market, owing to rising chronic eye diseases among geriatric population. The Asian market will however witness significant growth, led by China and India. The patient pool is larger due to established prevalence of cataract, glaucoma, and diabetic retinopathy; and growing occurrences of aging-related macular degeneration.
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