Global Ophthalmic Equipment Market is expected to register a CAGR of ~5.4% During the Forecast Period.
Synopsis of the Global Ophthalmic Equipment Market
Ophthalmic diseases are characterized by the impairment of vision. Some of the common symptoms of the disease include eyestrain, red eyes, and others. Glaucoma, amblyopia, macular degeneration, and cataract are amongst the major concerns for the providers of healthcare services. Therapeutic modalities for the treatment of the disease are based on the application of various corrective and surgical ophthalmic equipment. In the recent years, the prevalence of ophthalmic diseases has increased.
This generated a huge demand for therapeutic modalities of the disease. A variety of ophthalmic equipment are present in the market which can be effectively utilized by the providers of healthcare services, so as to meet the growing healthcare demand. The growth of the ophthalmic equipment market is majorly attributed to the increasing prevalence of ophthalmic diseases and eye-related disorders. On the other hand, less awareness about eye-related diseases may hamper the market growth during the forecast period.
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The global ophthalmic equipment market is segmented on the basis of product, application, and end-user.
On the basis of product, the market is segmented into vision care devices, ophthalmology surgical devices, diagnostic and monitoring devices, and others. Vision care devices are segmented into spectacles and contact lens. Contact lenses are further sub segmented into soft contact lenses, Rigid Gas Permeable lenses (RGP), and hybrid contact lenses. Ophthalmology surgical devices are segmented into cataract surgical devices, vitreoretinal surgical devices, refractive surgical devices, glaucoma surgical devices, ophthalmic microscopes, ophthalmic accessories, and others. Cataract surgical devices are further segmented into Intraocular Lenses (IOLS), Ophthalmic Viscoelastic Devices (OVDS), phacoemulsification devices, cataract surgical lasers, and others. The vitreoretinal surgical devices segment is further segmented into vitreoretinal packs, vitrectomy machines, photocoagulation lasers, illumination devices, vitrectomy probes, and others.
The refractive surgical devices segment is further segmented into femtosecond lasers, excimer lasers, and others. Glaucoma surgical devices are further segmented into Glaucoma Drainage Devices (GDDS) and micro invasive glaucoma surgical devices. The ophthalmic accessories segment is further segmented into surgical instruments and kits, ophthalmic forceps, ophthalmic spatulas, ophthalmic tips and handles, ophthalmic scissors, macular lenses, ophthalmic cannulas, and others. Diagnostic and monitoring devices are segmented into optical coherence tomography scanners, fundus cameras, perimeters/visual field analyzers, auto refractors and keratometers, ophthalmic ultrasound imaging systems, tonometers, slit lamps, phoropters, wavefront aberrometers, optical biometry systems, ophthalmoscopes, lensmeters, corneal topography systems, chart projectors, specular microscopes, retinoscopes, and others. Ophthalmic ultrasound imaging systems are further segmented into ophthalmic a-scan ultrasound, ophthalmic b-scan ultrasound, ophthalmic ultrasound bio microscopes, and ophthalmic pachymeters.
On the basis of application, the market is segmented into glaucoma, amblyopia, cataract, retinal detachment, and others. On the basis of end-user, the market is segmented into hospitals, ophthalmology clinics, diagnostic centers, research centers, and others.
Ophthalmic Equipment Market Top 10 Players Business Overview:
Bausch & Lomb (U.S.),
Carl Zeiss Meditec (Germany),
Johnson & Johnson (U.S.),
Essilor International S.A. (France),
Staar Surgical (U.S.),
Topcon Corporation (Japan),
Ziemer Ophthalmic Systems (Switzerland),
Hoya Corporation (Japan),
Ridex Corporation (U.S.), and others.
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Regional Analysis of the Global Ophthalmic Equipment Market
The American ophthalmic equipment market is segmented into two regions, namely, North America and South America. North America, being the largest market, is mainly driven by the increasing prevalence of retinal defects and growing investments in research and development. According to Research America, in 2015, the total expenditure in the U.S. for medical and health research and development was USD 158.7 billion. Furthermore, research institutions, including universities and Independent Research Institutes (IRIs), dedicated more than USD 12.5 billion to R&D.
The European ophthalmic equipment market exhibits growth with an increasing emphasis on the diagnosis and treatment of eye diseases and eye disorders. Moreover, Germany and the U.K. are the major contributors to the growth of the market. Additionally, the increasing expenditure in healthcare by major countries in Europe also accelerates the growth of the market.
Asia Pacific is expected to be the fastest growing market whose growth is attributed to a huge demand for diagnostic tests and increasing focus on early diagnosis and treatment of GI diseases. Furthermore, other factors contributing to the growth of the market are lifestyle changes, influence of western culture among adults, and addiction to smoking.
On the other hand, the Middle East and Africa holds the least share of the market owing to less availability of funds, limited availability of medical facilities, and poor political conditions in Africa. The Middle Eastern region holds the major share of the market owing to a well-developed technology and high healthcare expenditure. On the other hand, the African region shows the fastest growth due to the availability of opportunities for the market growth.
Major TOC For Ophthalmic Equipment Market Research Report – Forecast to 2023:
1. Report Prologue
2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
4. Market Dynamics
4.5 Macroeconomic Indicators
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