Global Ophthalmic Equipment Market size is expected to record a CAGR of 5.4% during the review period 2017 to 2023. The rising burden of ophthalmic diseases such as amblyopia, Glaucoma, macular degeneration, cataract, etc. are expected to boost the sales of ophthalmic diseases in the forthcoming years.
The patient population has been on the rise, which is further encouraged by an increasing number of older adults. This, in turn, has been prognosticated to catapult the ophthalmic equipment market on the trajectory of growth. In addition, rising investments in the modernization of equipment by the key players are also anticipated to dictate the future trajectory of the market. However, lack of awareness about ophthalmic diseases is likely to undermine the growth of the ophthalmic equipment market over the next few years.
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Ophthalmic Equipment Market Competitive Analysis:
The prominent players operating in the competitive landscape of the global ophthalmic equipment market are Bausch & Lomb (U.S.), Alcon (U.S.), Carl Zeiss Meditec (Germany), Essilor International S.A. (France), Johnson & Johnson (U.S.), Haag-Streit (Switzerland), Staar Surgical (U.S.), Nidek (Korea), Topcon Corporation (Japan), Hoya Corporation (Japan), Ziemer Ophthalmic Systems (Switzerland), and Ridex Corporation (U.S.).
Ophthalmic Equipment Market Segmentation:
For a detailed segmental analysis of the global ophthalmic equipment market, it has been segmented on the basis of product, application, and end-user.
By product, the market has been segmented into vision care devices, diagnostic and monitoring devices, ophthalmology surgical devices, and others. The vision care devices segment has been further sub-segmented into spectacles and contact lens (Rigid Gas Permeable lenses (RGP), soft contact lenses, and hybrid contact lenses).
The diagnostic and monitoring devices segment has been sub-segmented into optical coherence tomography scanners, perimeters/visual field analyzers, fundus cameras, auto refractors, and keratometers, tonometers, slit lamps, phoropters, ophthalmic ultrasound imaging systems (ophthalmic ultrasound bio microscopes, ophthalmic b-scan ultrasound, ophthalmic A-scan ultrasound, and ophthalmic pachymeters), wavefront aberrometers, ophthalmoscopes, lensmeters, optical biometry systems, corneal topography systems, specular microscopes, chart projectors, retinoscopes, and others.
The ophthalmology surgical devices segment has been sub-segmented into cataract surgical devices (Intraocular Lenses (IOLS), phacoemulsification devices, Ophthalmic Viscoelastic Devices (OVDS), cataract surgical lasers, and others), refractive surgical devices (excimer lasers, femtosecond lasers, and others), vitreoretinal surgical devices (vitreoretinal packs, photocoagulation lasers, vitrectomy probes, vitrectomy machines, illumination devices, and others), glaucoma surgical devices (micro invasive glaucoma surgical devices and Glaucoma Drainage Devices (GDDS)), ophthalmic accessories (surgical instruments and kits, ophthalmic spatulas, ophthalmic forceps, ophthalmic tips and handles, macular lenses, ophthalmic cannulas, ophthalmic scissors, and others), ophthalmic microscopes, and others.
The segments of the ophthalmic equipment market, on the basis of application, include amblyopia, cataract, glaucoma, retinal detachment, and others.
The key end-users profiled in this MRFR report are hospitals, diagnostic centers, research centers, ophthalmology clinics, and others.
Ophthalmic Equipment Market Regional Analysis:
The geographical assessment of the global ophthalmic equipment market spans across Americas, the Middle East & Africa (MEA), Asia Pacific, and Europe. Americas is anticipated to keep dictating the global market over the forecast period. Increasing patient population having retinal defects is poised to facilitate the rapid developments in the ophthalmic equipment market in the region over the next few years. In addition, increasing investments from the governments in the advancement of the healthcare sector is expected to boost the revenue creation of the regional market.
Europe is also expected to exd0pnad at a remarkable rate over the next couple of years. Germany and the U.K are anticipated to lead the growth of the ophthalmic equipment market in the region in the foreseeable future. Asia Pacific, meanwhile, is expected to register the highest CAGR across the projection period. Changes in lifestyle are likely to favor the expansion of the ophthalmic equipment market in the region in the years to come.
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