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Ophthalmology Devices Market Poised to grow at a CAGR of 5.8% by 2024

Infinium Global Research has added a new report on Ophthalmology Devices Market. The report presents an analysis of global as well as regional markets of ophthalmology devices market over the period of 2016 to 2024. The demand for ophthalmic devices is anticipated to be increasing significantly over the forecast period. The increasing application of developed technology and innovation in devices of ophthalmology has provided useful and economical solutions for various eye-related disorders such as refractor disorders, vitreoretinal disorders, and cataract to the customer. Chronic eye diseases are the main reason for vision loss. The increasing prevalence of eye diseases among the age group is likely to boost growth in the market. In 2017, WHO estimated that 253 million people live with vision impairment, 36 million are blind and 217 million have moderate to severe vision impairment. Growing adoption of contact lenses and spectacles and change in lifestyle are some other factor that will propel the growth of the market in the coming years. On the other hand, the cost of ophthalmology devices are high and the use of refurbished ophthalmic devices is increased thus hampering the growth of the market. In addition, lack of awareness about various eyes disease among the people will restraint the growth of the market.


North America is expected to be the largest market for ophthalmology devices followed by Europe. There is intense competition between North America and Europe region. The presence of developed healthcare infrastructures coupled with growing geriatric population and rising incidence of chronic eye conditions are likely to boost the growth in this region. The Asia Pacific is expected to growth faster due to improvement in healthcare infrastructure, a growing occurrence of eye disorders such as glaucoma, and rising awareness among patients. Moreover, the growth matrix presented by Infinium Global Research identifies the key investment markets in the near future, this will not only help the companies to understand the competitive position in the global ophthalmology devices market but also make strategic decisions to capture the most lucrative markets in the near future. Mergers & acquisitions, product launch, and geographical expansions to maintain market position are the key strategies of the leading players in this market. For instance, in 2016, Alcon, Inc. signed a partnership agreement with Power Vision, Inc., to focus on the development of fluid-based implants.


The market size is presented in terms of value for the historic year 2016 and estimated for the forecast period of 2018-2024.


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The recent report identified that North America dominated the global ophthalmology devices market over the last couple of years while emerging markets of Asia-Pacific and Latin America are anticipated to contribute significantly to the growth in the ophthalmology devices market worldwide.


The report segments the global ophthalmology devices market on the basis of Devices and Application.


Global Ophthalmology Devices Market by Devices

·         Surgical Devices

·         Vision Care

·         Diagnosis Devices


Global Ophthalmology Devices Market by Application

·         Optical Retail Centers

·         Hospitals and Ophthalmology Clinics

·         ASCs


Companies Profiled in the Report

·         Carl Zeiss Meditec AG

·         Abbott Medical Optics, Inc.

·         Bausch & Lomb, Inc.

·         Alcon, Inc.

·         Haag-Streit

·          Johnson & Johnson

·         Essilor International S.A

·         Nidek Co. Ltd

·         Topcon Corporation

·         Others


About Infinium Global Research

Infinium Global Research is a business intelligence company that provides its clients with market information services, solutions, and reports. The intelligence reports include qualitative as well as quantitative information, which are blended using forecasting models in order to project future market demand. Our panels of Subject Matter Experts (SMEs), Analysts, and Consultants use numerous data gathering tools in order to provide you with detailed information on the market as well as a preview of its projected growth. Our repository includes the largest and most credible databases, through which we determine various qualitative and quantitative parameters of the market to provide you with an in-depth business intelligence report.

Infinium Global Research reports and consulting services cover numerous sectors, which include healthcare, chemicals, materials, energy, packaged goods, food and beverages, technology, and communications. These reports provide readers with market insights and detailed analysis of market segments to possible micro levels. Our reports, with stratified research methodology and wider scope of analysis, provide clients with crucial insights and information to meet their every requirement.

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