Global Ophthalmic Equipment Market Poised to Value Over USD 59.6 Billion by 2026 End

  • 01 Oct 2019

Global Ophthalmic Equipment Market is estimated to value over USD 59.6 billion by 2026 end and record a CAGR of over 3% during the forecast period 2019 to 2026. 

 

The global ophthalmic equipment market growth is majorly steered by a meteoric rise in the ageing population, growing incidences of eye-related diseases, advancements in technology in the ophthalmic devices, thriving initiatives by the government to curb down impairments of the eye and growing adoption rate of spectacles and contact lenses.

 

The ever-increasing geriatric population base is more prone to persistent eye diseases which shall serve as another integral factor which shall expand the ophthalmic equipment market size. As per the World Health Organization (WHO), over 60% of people who are visually impaired and over 80% of people who are blind are between the age group of 50 years and above. Furthermore, patients suffering from diabetes are more likely to be diagnosed with diabetic eye-related diseases, in particular, cataracts and diabetic retinopathy that will soar the insistence to treat diseases using ophthalmic equipment.

 

Nonetheless, strict regulations from the government related to the ophthalmic equipment can restrain the market growth over the forecast period. High ophthalmic device costs, the growing adoption rate of ophthalmic devices that are refurbished and varying recovery policies can hamper the market proliferation to a great extent.

 

The ophthalmic surgical devices segment is predicted to showcase profitable growth during the forecast period due to growing incidences of different persistent diseases resulting in the impairment of one’s vision. Increasing population awareness about early diagnosis of disease and the rising rate of adoption of ophthalmic procedures, for instance, cataract surgeries, specifically among the geriatric patients is projected to upscale the segment growth.

 

The North America region, the U.S in particular, accounted for the largest global ophthalmic equipment market share in 2018. This dominance can be credited to the high prevalence of eye diseases in the U.S. As per the American Academy of Ophthalmology (AAO), over 24.4 million American citizens from the age group of 40 years and above, suffer from cataracts. Moreover, increasing incidences of glaucoma and other persistent diseases along with rising insistence for novel treatment facilities will boost the augmentation in the region. 

 

Key market players included in the global ophthalmic equipment industry are Alcon, Bausch & Lomb, Carl Zeiss Meditec, Johnson & Johnson, Hoyam Essilor, Haag-Streit, Nidek, Staar Surgical, Topcon, Ziemer Ophthalmic Systems.

Global Ophthalmic Equipment Market Segmentation:

By Product

  • Vision Care Products

- Spectacles

- Contact Lenses

~ Soft Contact Lenses

~ Rigid Gas Permeable Lenses (RGP)

~ Hybrid Contact Lenses

- Ophthalmology Surgical Devices

~ Cataract Surgical Devices

> Intraocular Lenses

> Ophthalmic Viscoelastic Devices

> Phacoemulsification Devices

> Cataract Surgical Lasers

> IoI Injectors

~ Vitreoretinal Surgical Devices

> Vitreoretinal Packs

> Vitrectomy Machines

> Photocoagulation Lasers

> Illumination Devices

> Vitrectomy Probes

~ Refractive Surgical Devices

> Femtosecond Lasers

> Excimer Lasers

> Other Refractive Surgical Lasers

~ Glaucoma Surgical Devices

> Glaucoma Drainage Devices (GDDs)

> Micro invasive Glaucoma Surgical Devices 

~ Ophthalmic Microscopes

~ Ophthalmic Accessories

> Surgical Instruments and Kits

> Ophthalmic Forceps

> Ophthalmic Spatulas

> Ophthalmic Tips and Handles

> Ophthalmic Scissors

> Ophthalmic Knives

> Macular Lenses

> Ophthalmic Cannulas

> Other Ophthalmic Accessories

- Diagnostics and Monitoring Devices

~ Optical Coherence Tomography Scanners

~ Fundus Cameras

~ Perimeter/Visual Field Analyzers

~ Autorefractors and Keratometers

~ Ophthalmic Ultrasound Imaging Systems

> Ophthalmic A-Scan Ultrasound

> Ophthalmic B-Scan Ultrasound

> Ophthalmic Ultrasound Biomicroscopes

> Ophthalmic Pachymeters

~ Tonometers

~ Slit Lamps

~ Phoropters

~ Wavefront Abberometers

~ Optical Biometry Systems

~ Ophthalmicscopes

~ Lensmeters

~ Corneal Topography Systems

~ Chart Projectors

~ Specular Microscopes 

~ Retinoscopes

By End User

  • Consumers
  • Hospitals
  • Speciality Clinics and Ambulatory Surgery Centres
  • Other End Users

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

FutureWise Key Takeaways:

  • Growth prospects
  • SWOT analysis 
  • Key trends 
  • Key data-points affecting market growth 

 

Objectives of the Study:

  • To provide with an exhaustive analysis on the global ophthalmic equipment market by product, by end user and by region
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market 
  • To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific Latin America and Middle East & Africa
  • To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • Profiling of companies to evaluate their market shares, strategies, financials and core competencies

 

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