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South Korea Ophthalmic Devices Market - Growth, Trends, and Forecast (2020 - 2025)

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  • 75 Pages
  • August 2020
  • Region: South Korea
  • Mordor Intelligence
  • ID: 4997324
Ophthalmic devices are medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to the rising burden of various eye diseases, such as glaucoma, cataract, and other vision-related issues. The rising prevalence of eye-related diseases is leading to increased demand for ophthalmic devices. In many developed and developing countries, eye conditions have emerged as potential threats to the populations. Cataract surgery is considered as the most commonly performed surgery in South Korea. According to the National Health Insurance Service, it was estimated that around 360,000 people underwent cataract surgery in South Korea in 2016. Hence, as the number of eye disorders increases, there is a large demand for ophthalmic devices that are used for both diagnostic and therapeutic purposes, driving the market growth over the forecast period. However, risk associated with ophthalmic procedures is expected to hinder the market growth.

Key Market Trends

Lasers Segment is Expected to Show Better Growth during the Forecast Period

Based on surgical devices, the market is segmented into glaucoma devices, intraocular lenses, lasers, and other surgical devices. Laser eye procedure is intended to correct long-term vision problems in people. The laser can be applied to the iris or the trabecular meshwork to allow aqueous fluid to flow more effectively within the eye and drain better by the normal drainage channels within the eye. Laser vision correction has a very high success rate, and many patient’s reliance on eyeglasses or contact lenses is significantly reduced. Hence, owing to the high growth opportunities, the segment is believed to witness rapid growth over the forecast period.

Competitive Landscape

The global players in the South Korean ophthalmic devices market are Alcon Inc., Carl Zeiss Meditec AG, Hoya Corporation, Johnson & Johnson, Nidek Co. Ltd, Topcon Corporation, and Ziemer Group AG.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format
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Table of Contents

1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Eye Disorders
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 Risk Associated with Ophthalmic Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1 By Devices
5.1.1 Surgical Devices Glaucoma Devices Intraocular Lenses Lasers Other Surgical Devices
5.1.2 Diagnostic and Monitoring Devices Autorefractors and Keratometers Ophthalmic Ultrasound Imaging Systems Ophthalmoscopes Optical Coherence Tomography Scanners Other Diagnostic and Monitoring Devices
6.1 Company Profiles
6.1.1 Alcon Inc.
6.1.2 Carl Zeiss Meditec AG
6.1.3 Hoya Corporation
6.1.4 Johnson & Johnson
6.1.5 Nidek Co. Ltd
6.1.6 Topcon Corporation
6.1.7 Ziemer Group AG

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Alcon Inc.
  • Carl Zeiss Meditec AG
  • Hoya Corporation
  • Johnson & Johnson
  • Nidek Co. Ltd
  • Topcon Corporation
  • Ziemer Group AG