Ophthalmic Devices Market - Forecasts from 2018 to 2023

The ophthalmic device market is projected to grow at a CAGR of 5.01% to reach US$65.248 billion in 2023 from US$48.651 billion in 2017. Rising geriatric population across the globe is increasing the incidence of various eye diseases like Cataract and Glaucoma which is increasing the demand for ophthalmological treatments. Changing lifestyle of people in various regions has led to an increase in the prevalence of chronic diseases like diabetes which is further encouraging the need for ophthalmological treatments, thus boosting the demand for ophthalmic devices. Technological advancements are expanding the capabilities and efficiency of these devices while rising disposable income across many regions is increasing their adoption among the end-users. Among regions, North America accounts for the significant share of the global ophthalmic device market owing to the presence of major market players in the region and well-established healthcare industry. Huge funding by market players and increasing spending by the government on healthcare is another factor contributing to the market growth of ophthalmic devices.

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the ophthalmic device value chain. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the ophthalmic device market.
Major industry players profiled as part of the report are Novartis AG, Zeimer Ophthalmic Systems AG, Nidek Co. Ltd, and Essilor among others.

Segmentation:

The ophthalmic device market has been analyzed through the following segments:

By Device Type
Surgical Device
Cataract Surgical Devices
Vitreoretinal Surgical Devices
Refractive Surgical Devices
Ophthalmic Microscopes
Glaucoma Surgical Devices
Accessories
Diagnostic Device
Direct Ophthalmoscope
Tonometer
Phoropters
Binocular Indirect Ophthalmoscope
Ophthalmic ultrasound imaging device
Vision Care Product
Spectacles
Contact Lenses

By End-User
Hospital & Clinics
Individuals

By Geography
North America

• USA


• Canada


• Mexico

South America

• Brazil


• Argentina

Europe

• Germany


• France


• United Kingdom


• Spain

Middle East and Africa

• Saudi Arabia


• Israel

Asia Pacific

• China


• Japan


• South Korea


• India