Global Ophthalmic Equipment Market Report
Ophthalmic Equipment Market Research Report: Product (Ophthalmology Surgical Devices, Vitreoretinal Surgical Devices, Refractive Surgical Devices, &Diagnostic & Monitoring Devices), Application, End-User (Ophthalmology Clinics) – Global Forecast till 2023
Ophthalmic Equipment Market Overview
Ophthalmic equipment is used to diagnose and treat eye defects like glaucoma, cataract, and others. This equipment includes lenses and spectacles to improve vision. An increase in the old age population is the primary factor empowering this market, as the power of eyes degrades as the age increases. The authorities are actively acting in spreading awareness by arranging free-of-cost eye checkup camps and distributing the spectacles, further boosting the market. Also, the growing awareness about eye disorders and early disorder detection has helped the market in gaining the desired pace.
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As the demands and awareness increases, the companies are working towards enhancing the supply chains to meet the market demands. The demands for minimally invasive techniques are rising, which has boosted the glaucoma surgery devices segment and is expected to emerge as the fastest-growing segment of the market because it is safe and has less recovery time. However, the global ophthalmic equipment market faces considerable friction from the refurbishing market and limited awareness among the masses.
This report will provide a complete detail about the market trends, growth factors, drivers & restraints, opportunities, and other primary factors followed by an in-depth analysis of the major markets around the world. The global ophthalmic equipment market is anticipated to show around a 08 % annual growth rate during the survey.
Ophthalmic Equipment Market Breakdown
The global ophthalmic equipment market is segmented into the following categories:
The ophthalmic equipment is segmented into diagnostic, monitoring, vision care, and other types based on product types.
The global ophthalmic equipment market is categorized into cataracts, glaucoma, retinal detachment, and others based on applications.
The global ophthalmic equipment market is divided into major medical facilities like hospitals, clinics, research centers, and others based on end-users.
Ophthalmic Equipment Market Regional Classification
Ophthalmic equipment is a vital part of the healthcare system and is useful in maximum eye-related disorders. North America, The Asia Pacific, Europe, and the rest of the world are the major regions observed for the global ophthalmic equipment market. In the current era, the North American region is leading the market due to the demands for better healthcare technologies, increasing research & development activities, degraded lifestyles, increasing health care expenditures, and other factors. On the other hand, The Asia Pacific region will file the fastest growth rates due to rising healthcare standards, increasing aged population, smoking addiction, rise in healthcare budgets, rising disposable incomes, awareness, and other factors. Whereas the Middle East & African regions will show the sluggish growth rates due to struggling healthcare systems, limited knowledge, and other factors.
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Key Players in the Global Ophthalmic Equipment Market
Some of the key players in this market are Alcon (U.S.), Bausch & Lomb (U.S.), Carl Zeiss Meditec (Germany), Johnson & Johnson (U.S.), Essilor International S.A. (France), Haag-Streit (Switzerland), Nidek (Korea), Staar Surgical (U.S.), Topcon Corporation (Japan), Ziemer Ophthalmic Systems (Switzerland), Hoya Corporation (Japan), Ridex Corporation (U.S.), and others.
The primary factors responsible for the global ophthalmic equipment market’s growth are the rise in the geriatric population, changing lifestyles, and smoking habits. The rapidly developing regions are the most lucrative market for the market players because of increasing awareness, and the market here is still in growing age, which makes these areas capable of providing most opportunities. Also, the increasing government initiative to spread the awareness is acting as the catalyst for the market growth rates.
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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