This report provides exclusive insights into the COVID-19 impact on the Ophthalmic Surgical Technologies Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Ophthalmic Surgical Technologies Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Ophthalmic Surgical Technologies Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on ophthalmic surgical technologies market provides an in-depth analysis of segments and sub-segments in global as well as regional ophthalmic surgical technologies market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional ophthalmic surgical technologies market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global ophthalmic surgical technologies market. According to the report the global ophthalmic surgical technologies market is projected to grow at a CAGR of 5.6% over the forecast period of 2018-2024.
The ophthalmic surgery is a surgical procedure performed on the eye or its adnexa by an ophthalmologist. Most of the common eye diseases are a cataract, glaucoma, macular degeneration, strabismus, uveitis, and eye tumors. There are various technologies such as femtosecond systems, excimer laser systems, phacoemulsification systems, and YAG laser systems are used for the ophthalmic surgery. Femtosecond laser technology is widely used for LASIK (laser in situ keratomileusis) procedures to correct myopia (nearsightedness). Furthermore, this technology is also used in the treatment of cataracts.
Rising prevalence of eye disorder has a positive impact on the growth of ophthalmic surgical technologies market. Moreover, the growing geriatric population across the globe is also driving the growth of the market. A superior result of femtosecond laser-assisted cataract surgery has increased rapidly. Cataract surgery is the most commonly performed surgical procedure in the world, with an estimated 19 million operations performed annually. The World Health Organization estimated that this number will increase to 32 million by the year 2020 as the over 65 population doubles worldwide between 2000 and 2020. Moreover, rising awareness related to minimally invasive surgical procedures and rising government funding for the healthcare infrastructure is some of the supporting factors propelling the ophthalmic surgical technologies market. However, the high cost associated with ophthalmic surgery instrument and lack of skilled professionals is expected to hamper the growth of the ophthalmic surgical technologies market. Going forward, exploring new technologies and inventions in ophthalmic surgery technologies will augmenting the growth opportunities for the market key players.
On the basis of geographies, North America is anticipated to be the leading region in the ophthalmic surgical technologies market over the forecast period. Presence of numerous leading players in this region and the rising prevalence of eye diseases, across countries such as the U.S. and Canada is likely to augment the market growth in this region. Asia-Pacific and Europe are expected to witness the significant growth in the ophthalmic surgical technologies market during the upcoming years. The factors such as a rise in research and development spending’s and ongoing development in the healthcare sector are escalating the market growth in this region.
The report on global ophthalmic surgical technologies market covers segments such as product type and surgery type. On the basis of product type, the global ophthalmic surgical technologies market is categorized into excimer laser systems, femtosecond systems, YAG laser systems, and phacoemulsification systems. On the basis of surgery type, the global ophthalmic surgical technologies market is categorized into retinal surgery, refractive surgery, cataract surgery, and glaucoma surgery.
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global ophthalmic surgical technologies market such as GE Healthcare, Block Imaging, Siemens Healthcare Private Limited, Atlantis Worldwide, Shimadzu Corporation, Carestream Health, STAAR Surgical, TOPCON CORPORATION, Hoya Corporation, and Essilor.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global ophthalmic surgical technologies market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ophthalmic surgical technologies market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the ophthalmic surgical technologies market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the ophthalmic surgical technologies market to understand the present and future trends in this market and formulate their strategies accordingly.