The global ophthalmic devices market is predicted to reach nearly US$ 65 Billion by 2025. Ophthalmology is a branch of medical science dealing with the structure, functions, and diseases of the eye. Ophthalmic devices are medical devices used in the identification and treatment of ocular defects or deficiencies and eye disorders. The ophthalmic devices are designed for diagnostics, surgical, and vision correction purposes. These devices are continuously gaining increased importance and adoption due to high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision related issues.
The factors such as increasing prevalence of eye related diseases such as glaucoma, cataract, and others, rapid technological advancements, increase in initiatives to spread awareness, and high adoption of digital devices globally fuels the growth of global ophthalmology devices market. Although these factors are expected to drive the ophthalmic devices market growth, elements such as the high cost of ophthalmic devices and dearth of skilled professionals with expertise in ophthalmic surgery are projected to hamper the growth of the market.
By Application Segment - Global Ophthalmic Devices Market and Forecast
- On the basis of application, the vision care segment dominated the overall ophthalmic devices market.
- Surgical instruments devices held second highest share of the overall ophthalmic devices market, while the diagnostic & monitoring devices segment is expected to grow at the fastest rate during the forecast period.
By Products - Global Ophthalmic Devices Market and Forecast
- On product basis, contact lens held largest share of the ophthalmic devices market, while, cataract surgery devices accounted for second highest share of the total ophthalmic devices market.
- Retinal surgery devices is the third largest product segment of the ophthalmic devices market in 2018.
- The global market for fundus cameras was valued close to US$ 430 Million in 2018.
- The global optical coherence tomography (OCT) scanner market is poised to grow at a CAGR of around 9.5% during the forecast period 2019 - 2025.
- The global cataract surgery devices market is projected to reach close to US$ 9 Billion mark by 2025.
By End Users - Global Ophthalmic Devices Market and Forecast
- Consumers segment accounted for highest share of the global ophthalmic devices market, as majority of the ophthalmic products such as vision care products are used by the common consumers.
- Hospitals and ophthalmic clinics & centers captured 2nd and 3rd largest share of the overall ophthalmic devices market respectively in 2018.
- Ambulatory surgical centers are likely to grow at the fastest rate during the forecast period, as these centers provide cost-effective services and a convenient environment that is less stressful than what many hospitals can offer.
By Region - Ophthalmic Devices Market and Forecast
- North America dominated the global ophthalmic devices market in 2018.
- In North America, United States captured highest share of the total ophthalmic devices market in 2018.
- Europe represents a major market for ophthalmic devices, owing to rising chronic eye diseases among geriatric population.
- In Europe, Germany and United Kingdom are the major market for ophthalmic devices.
- Asia Pacific is anticipated to grow at the fastest rate over the forecast period due to the presence of untapped opportunities in the emerging economies such as China and India.
- Argentina ophthalmic devices market is estimated to expand at a CAGR of 4.7% over the forecast period 2019 - 2025.
- China accounted for nearly 4% share of the global ophthalmic devices market in 2018.
iGATE RESEARCH report titled "Global Ophthalmic Devices Market (By Applications, Products, End Users, Regions), Major Deals, Trends, Key Players Analysis, Recent Developments - Forecast to 2025" provides a comprehensive analysis of the Global Ophthalmic Devices Market.
This 237 Page report with 109 Figures and 11 Tables has been analyzed from 11 View Points:
- 1) Global Ophthalmic Devices Market and Forecast (2012 - 2025)
- 2) Global Ophthalmic Devices Market Share and Forecast (2012 - 2025)
- 3) By Application Segment - Global Ophthalmic Devices Market and Forecast (2012 - 2025)
- 4) Global Ophthalmic Diagnostics & Monitoring Devices Market and Forecast (2012 - 2025)
- 5) Global Ophthalmic Surgical Instruments Devices Market and Forecast (2012 - 2025)
- 6) Global Ophthalmic Vision Care Products Market and Forecast (2012 - 2025)
- 7) By End Users - Global Ophthalmic Devices Market and Forecast (2012 - 2025)
- 8) By Region - Ophthalmic Devices Market and Forecast (2012 - 2025)
- 9) Country Analysis - Ophthalmic Devices Market and Forecast (2012 - 2025)
- 10) Global Ophthalmic Devices Market - Key Players Sales Analysis (2012 - 2025)
- 11) Global Ophthalmic Devices Market - Growth Drivers & Challenges
Global Ophthalmic Devices Market - By Application Segments
1. Diagnostics & Monitoring Devices
- Fundus Camera
- Optical Coherence Tomography Scanner
2. Surgical Instruments Devices
- Refractive Error Surgery Devices
- Glaucoma Surgery Devices
- Cataract Surgery Devices
- Retinal Surgery Devices
3. Vision Care
Global Ophthalmic Devices Market - By End Users
- 1. Hospitals
- 2. Ophthalmic Clinics and Centers
- 3. Ambulatory Surgical Centers
- 4. Consumers
- 5. Others
Global Ophthalmic Devices Market - Regional Analysis
1. North America
- United Kingdom
- Rest of Europe
3. Asia Pacific
- South Korea
- Rest of Asia Pacific
4. Latin America
- Rest of Latin America
5. Middle East and Africa
- Saudi Arabia
- Rest of Middle East and Africa
Global Ophthalmic Devices Market - Company Analysis
- 1. Alcon, Inc.
- 2. Carl Zeiss Meditec AG
- 3. Topcon Corporation
- 4. Bausch Health Companies Inc. (Formerly Valeant Pharmaceuticals International, Inc.)
- 5. Iridex Corporation
- 6. Ellex Medical Lasers
- 7. Escalon Medical
- 8. Second Sight Medical Products Inc.
- 9. Lumenis
- 10. Nidek Co., Ltd.
iGATE RESEARCH employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by iGATE Research dedicated team of qualified professionals with deep industry experience and expertise.
Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.