The Global Market for Ophthalmic Instrumentation is Projected to Reach US$8.5 Billion by 2022

Rise in Adult Eye Diseases as a Result of Aging Population and Increase in Chronic Health Conditions to Drive the Ophthalmic Instrumentation Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Ophthalmic Instrumentation. The global market for Ophthalmic Instrumentation is projected to reach US$8.5 billion by 2022, driven by the rising prevalence of ocular diseases led by aging population and increase in chronic diseases such as diabetes and hypertension.  

Ophthalmic Instrumentation includes equipment used to detect, diagnose and treat eye related problems such as cataract, glaucoma, refractive disorders among others. Global demand for ophthalmic instrumentation is led by rising incidence of eye-related diseases as a result of aging population more vulnerable to ophthalmic disorders such as macular edema; rapid increase in diabetic population; and lifestyle changes that aggravate refractive errors such as myopia, hyperopia and astigmatism. In addition, the market is expected to benefit from direct-to-consumer approach adopted by various eye-care companies, increasing awareness of advanced procedures such as laser surgery, rising demand for permanent vision correction surgeries, growing awareness over the benefits of early intervention and increasing accessibility to new technologies.

The growth in diagnostic ophthalmic devices market is primarily driven by increasing focus on preventative eye care and continuous technical developments resulting in highly accurate and reliable devices that facilitate accurate diagnosis. A key trend in this space is the integration of various devices into a single equipment. Fully integrated systems combine diagnostic and surgical devices, which are capable of sharing information and streamlining the whole surgical process. The trend is evident in the optical coherence tomography (OCT) market wherein the device is equipped with other modalities such as fundus cameras, fluorescein angiography devices and ophthalmoscopes. Optical Coherence Tomography Angiography (OCTA) marks an important trend in the in the OCT space.  Microscope-integrated technologies such as intraoperative OCT, markerless toric IOL alignment, 3D heads-up visualization, and others bring forth the capabilities to produce better surgical outcomes. In the surgical instrumentation space, new higher-frequency femtosecond platforms that cause reduced inflammation and better visual outcomes are growing in prominence.

As stated by the new market research report on Ophthalmic Instrumentation, the United States represents the single largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 7.9% over the analysis period led by developing healthcare infrastructure; robust expansion in the practice of ophthalmology; establishment of chain of super-specialty eye hospitals and clinics; rise in medical tourism, rising standard of living and growing per capita healthcare spending.

Major players covered in the report include Abbott Medical Optics Inc., Bausch & Lomb Inc., Ellex Medical Laser Limited, Huvitz Co. Ltd., Lumenis Ltd., Nidek Co. Ltd., Topcon Medical Systems Inc., Kowa, HAAG-STREIT SURGICAL, Leica Microsystems, and Visionix Ltd., among others.

The research report titled "Ophthalmic Instrumentation: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East and Latin America (Brazil and Rest of Latin America) in both value and volume terms. The report analyzes the global market for ophthalmic instrumentation by product segments including Diagnostic Devices (OCT Systems, Optical Biometers, Slit Lamps, Tonometers, Auto Refractors/Keratometers, Perimeters, Fundus Cameras, Diagnostic Ultrasound Equipment and Others) and Surgical Products (Ophthalmic Disposables, Ophthalmic Lasers and Ophthalmic Surgical Microscopes)  in both value and volume terms.



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