Market Research Report
India Ophthalmic Devices Market - Growth, Trends, and Forecast (2019 - 2024)
|Published by||Mordor Intelligence LLP||Product code||391099|
|Published||Content info||69 Pages
Delivery time: 2-3 business days
|India Ophthalmic Devices Market - Growth, Trends, and Forecast (2019 - 2024)|
|Published: June 1, 2019||Content info: 69 Pages||
India's market for ophthalmic devices was valued at USD 1.17 billion for 2018. The CAGR for the forecast period is projected to be 7.3%.
As of 2018, India has close to 15,000 registered practicing ophthalmologists. Annually, close to 5 million cataract surgeries are performed in India. The majority of these procedures involve intraocular lens implantation.
Ophthalmic services are available in India through eye hospitals that are run by the government, corporations, and non-profits. The out-of-pocket expenditure in private settings is relatively higher than those in government hospitals, yet there is a growing popularity for private eye centers primarily due to their higher degree of sophistication and international compliance of eye-care standards.
India is a developing economy and has huge unmet needs in ophthalmic care. India is also home to approximately 30% of the world's blind population, about half of whom are blind from cataracts. The prevalence of age-related eye disorders, primarily glaucoma, is also steadily increasing. The Indian ophthalmic devices market report covers laser devices, devices for surgery - (cataract, glaucoma, etc.), and diagnostic devices.
Under the Surgery Devices segment, Cataract Surgery Devices Led the Market in 2018
Indian ophthalmic surgeons are expected to perform approximately 7 million cataract procedures in 2019, making cataract devices the largest overall market segment in the Indian ophthalmic devices market. Revenues from cataract surgery in India are expected to generate close to 30% of the total ophthalmic devices market revenue in the country.
The international players operating in the Indian ophthalmic devices market include Alcon, Abbott Medical Optics, Carl Zeiss Meditec, Bausch & Lomb, and J&J Vision Care. Apart from these, some of the leading domestic players in the market are GKB Ophthalmic and Techtron Polylenses Ltd.