New York, NY, July 09, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ophthalmology Devices Market by Product (Diagnostics & Monitoring Devices, Surgical Instruments, and Vision Care Products) and by End-User (Hospitals, Ophthalmic Clinics and Centers, and Ambulatory Surgical Centers): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global ophthalmology devices market was approximately USD 48.08 billion in 2018 and is expected to generate around USD 64.56 billion by 2025, at a CAGR of around 4.3% between 2019 and 2025.
Ophthalmology is the science stream that deals with the physiology, diseases, and anatomy of the eyes. Ophthalmological devices are instruments that are used either for vision correction or during diagnosis and surgeries related to the eye. High prevalence of vision impairment and increase in eye disorders occurrences due to digitalization are the major factors fueling the global ophthalmology devices market growth. The technological advancements in the devices, increase in geriatric population that suffers from low vision problems, rise in the introduction of reimbursement policies by the government, and growth in the establishment of ophthalmic clinics and centers in both developing and under-developed countries are also driving the global market for ophthalmology devices.
Browse through 37 Tables & 22 Figures spread over 110 Pages and in-depth TOC on “Global Ophthalmology Devices Market Size 2018: Industry Share, Trends, Applications, Companies, Analysis and Forecast to 2025”.
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The ophthalmology devices market is fragmented on the basis of product and end-user. Based on the product, the ophthalmology devices market includes diagnostics and monitoring devices, surgical instruments, and vision care products. The diagnostics and monitoring devices segment further divided into fundus camera, retinoscope, tonometer, pachymeter ophthalmoscope, optical coherence tomography scanner, biometer, an autorefractor. Surgical instruments are sub-segmented into refractive error surgical devices, glaucoma surgical devices, and cataract and vitreoretinal surgical devices. The vision care products segment further includes spectacle and contact lenses. Vision care products dominated the product segment of the ophthalmology devices market in 2018. This can be due to the increasing incidences of eye disorders, such as astigmatism, myopia, hyperopia, and presbyopia, growing use of spectacles and lenses by the youth population, and rising geriatric population base that suffers from weak eyesight.
By end-user, the market is categorized into ophthalmic clinics and centers, ambulatory surgical centers, and hospitals. The increasing establishment of ophthalmic centers and clinics is mainly driving the ophthalmic clinics and centers segment growth.
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North America is projected to dominate the global ophthalmology devices market, owing to the early introduction of highly developed techniques and digital devices, increasing prevalence of eye defects due to lifestyle changes, and introduction of supportive reimbursement policies by the government. According to the National Eye Institute, in 2014, about 1.3 million Americans were blind and approximately 2.9 million Americas had low eyesight or low vision. Additionally, the data also shows that about 24 million Americans suffered from cataract in 2014.
The European ophthalmology devices market acquired the second largest share in 2018 globally. According to the Euroblind, about 1 out of 30 Europeans may experience sight loss, and about 90% of the total population above the age of 65 is visually impaired. The presence of a large geriatric population base, the introduction of technologically advanced products, and the high prevalence of various eye disorders and diseases are the major factors driving the European ophthalmology devices market.
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The Asia Pacific ophthalmology devices market is anticipated to register the highest growth rate in the upcoming years, owing to rising investments and funding by government, the establishment of ophthalmic clinics and centers in India and China, growing geriatric population, and a large number of people suffering from various eye defects and disorders. According to eHealth Magazine, approximately half of the Indian population suffers from vision problems. According to the WHO, in 2017, about 8 million people in India were blind and about 54 million were visually impaired. This increase in the population suffering from eye disorders and visual impairment in India and China is also a major growth driver of the Asia Pacific ophthalmology devices market.
The Middle Eastern and African and Latin American regions are forecasted to show moderate growth in the global ophthalmology devices market in the future. This can be attributed to the developments in healthcare infrastructure, increasing the prevalence of eye-related diseases and disorders, growing government investments for treating these diseases, and the establishment of ophthalmic centers and clinics across the region.
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Some major players involved in the global ophthalmology devices market are Johnson & Johnson Vision Care, Alcon, Carl Zeiss Meditec, Ziemer Ophthalmic Systems, Essilor, Bausch + Lomb, NIDEK, HOYA, TOPCON, and Haag-Streit.
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This report segments the global ophthalmology devices market into:
Global Ophthalmology Devices Market: Product Analysis
- Diagnostics and Monitoring Devices
- Fundus Camera
- Optical Coherence Tomography Scanner
- Retinoscope
- Tonometer
- Pachymeter Ophthalmoscope
- Biometer
- Autorefractor
- Surgical Instruments
- Refractive Error Surgery Devices
- Glaucoma Surgery Devices
- Cataract and Vitreoretinal Surgery Devices
- Vision Care Products
- Contact Lenses
- Spectacle Lenses
Global Ophthalmology Devices Market: End-User Analysis
- Hospitals
- Ophthalmic Clinics and Centers
- Ambulatory Surgical Centers
Global Ophthalmology Devices Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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