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.
Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA,
All Rights Reserved.
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