Demand for Ophthalmic Devices is anticipated to be Increasing Significantly to Promote Growth in the Ophthalmology Devices Market Over 2018 to 2024
The increasing application of developed technology and innovation in devices of ophthalmology has provide 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 of vision loss. The increasing prevalence of eye diseases among the aged group is likely to boost the 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.
“Infinium Global Research has produced a new premium report Ophthalmology Devices Market. The report covers the analysis of global as well as regional markets of Ophthalmology Devices. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Ophthalmology Devices Market by devices (surgical devices, vision care and diagnosis devices) and application (optical retail centers, hospitals and ophthalmology clinics and ASCS) through main geographies in the Global Market such as North America, Europe, Asia-Pacific and RoW.
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Ophthalmology Devices Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Ophthalmology Devices Market are Carl Zeiss Meditec AG, Abbott Medical Optics, Inc., Bausch & Lomb, Inc., Alcon, Inc., Haag-Streit, Johnson & Johnson, Essilor International S.A, Nidek Co. Ltd, and Topcon Corporation.”
North America region to dominate the global Ophthalmology Devices market through 2018-2024
North America is expected to be the largest market for ophthalmology devices followed by Europe. There is an 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, growing occurrence of eye disorders such as glaucoma, and rising awareness among patients.
Mergers & acquisitions, product launch, and geographical expansions to maintain market position are the key strategy of the leading players in this market
Amring Pharmaceuticals Inc. (Amring) launched Biolon OVD (Ophthalmic Viscosurgical Device) for Use in Cataract Surgery
In July, 2018, Amring Pharmaceuticals Inc. (Amring), a generic pharmaceutical company, launched Biolon OVD (Ophthalmic Viscosurgical Device). Biolon OVD is a fermentation-based, sterile, optically clear, 1% (10mg/mL), sodium hyaluronate viscoelastic, provided in a sterile prefilled syringe. Biolon OVD has been used by cataract surgeons across the globe for over 25 years and Amring is bringing this product to surgeons in the United States.
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Optos plc, a Nikon company, launched Monaco, its next generation ultra-widefield imaging device with OCT capabilities for the U.S. ophthalmic market
In May, 2018, Optos plc, the leading medical retinal imaging company, part of Nikon Corporation, launched Monaco, the first ultra-widefield (UWF) imaging device combined with OCT, in the United States. Monaco, a new compact desk-top UWF retinal imaging device, provides greater imaging functionality and expands the Company’s product portfolio for the ophthalmic markets.
Aequus added Zepto Capsulotomy System, a Revenue Generating Product, to Commercial Ophthalmology Portfolio
In April, 2018, Aequus Pharmaceuticals Inc., entered into a commercial agreement with Mynosys Cellular Devices, an ophthalmology focused medical device company based in Fremont, California, for the Canadian distribution, sales and marketing of the Zepto® Precision Pulse Capsulotomy System for cataract surgery.