The study represents the Ophthalmic Equipment Market on the basis of the Types of products/Services, Applications/End-Users, Prominent Players, Regions, Ongoing market trends and forecast.
Global ophthalmic equipment market: KEY Companies
The prominent players in the global ophthalmic equipment market are, Essilor, Alcon (Novartis AG), Johnson & Johnson, Bausch Health, Haag-Streit Group, TOPCON CORPORATION, Carl Zeiss, Meditec AG, STAAR Surgical Company, Ziemer Ophthalmic Systems & HOYA Corporation among others.
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Global ophthalmic equipment market: Market Potential
According to World Health Organization, approximately 1.3 billion people are living with some form of distance or near vision impairment across the globe. The majority of people with vision impairment are over the age of 50 years. Increase in population growth and ageing will lead to the rise in the risk of more people being afflicted by vision impairment. Vision impairment can be caused by diseases such as glaucoma, cataract, and diabetic retinopathy. Subsequently, increasing prevalence of these diseases related to eyes is expected to propel the growth of the ophthalmic equipment market across the globe.
LASIK surgery is used to improve vision and reduces a persons need for glasses or contact lenses. In 2018, according to National Centre for Biotechnology Information, improvement shown in excimer laser technology that is used in LASIK surgery performed for corneal ablation provides superior results compared to microkeratomes and earlier lasers. The growing geriatric population leads to increasing burden on health systems and which results in ailment of the eye. According to World Health Organization, the proportion of the worlds population over 60 years will nearly double from 12% to 22% between 2015 and 2050. This is also expected to drive growth of the ophthalmic equipment market.
High cost of ophthalmic contact lenses and equipment makes it less accessible to people of lower economic strata. In addition, wearing of contact lenses can develop several serious conditions including eye infections and corneal ulcers. Moreover in rare cases, these conditions can cause blindness. In 2018, according to Centers for Disease Control and Prevention, Serious eye infections that can lead to blindness affect up to 1 out of every 500 contact lens users per year. So, this factor is also expected to impede the growth of the market.
Global ophthalmic equipment market: Overview
The continuous growth of the ophthalmic equipment market can be attributed to increase in eye related diseases such as glaucoma, cataract, diabetic retinopathy and others. In addition, factors such as rapid technological advancements, technological advanced minimally invasive surgeries, such as LASIK surgery, increasing geriatric population and rising Age-related macular degenerations (AMD) are expected to boost the global ophthalmic equipment market. In 2018, according to National Eye Institute, in U.S. among older white Americans, more than 14 percent of white Americans age 80 and older affected by AMD. However, high cost of contact lenses, ophthalmic equipment and risks associated with it, coupled with lack of skilled ophthalmologists, and poor reimbursement policies for ophthalmic equipment restraint the growth of the target market.
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Global ophthalmic equipment market: Regional Outlook
North America dominated the global ophthalmic equipment market owing to growing geriatric population and rise in awareness regarding diagnosis of ophthalmic diseases such as cataract and glaucoma. The Asia Pacific ophthalmic equipment market is expected to grow at the highest CAGR over the forecast period due to the rapidly improving healthcare infrastructure, increasing number of eye disorders such as glaucoma, and increasing awareness of patients towards it. In addition, the growth of this market can be attributed to the increasing outsourcing activities for ophthalmology devices by key industry players, such as Alcon, Inc. in Asia Pacific region.
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Global ophthalmic equipment market: KEY Companies
The prominent players in the global ophthalmic equipment market are, Essilor, Alcon (Novartis AG), Johnson & Johnson, Bausch Health, Haag-Streit Group, TOPCON CORPORATION, Carl Zeiss, Meditec AG, STAAR Surgical Company, Ziemer Ophthalmic Systems & HOYA Corporation among others.
Access Sample PDF: https://www.marketindustryreports.com/pdf/103
Global ophthalmic equipment market: Market Potential
According to World Health Organization, approximately 1.3 billion people are living with some form of distance or near vision impairment across the globe. The majority of people with vision impairment are over the age of 50 years. Increase in population growth and ageing will lead to the rise in the risk of more people being afflicted by vision impairment. Vision impairment can be caused by diseases such as glaucoma, cataract, and diabetic retinopathy. Subsequently, increasing prevalence of these diseases related to eyes is expected to propel the growth of the ophthalmic equipment market across the globe.
LASIK surgery is used to improve vision and reduces a persons need for glasses or contact lenses. In 2018, according to National Centre for Biotechnology Information, improvement shown in excimer laser technology that is used in LASIK surgery performed for corneal ablation provides superior results compared to microkeratomes and earlier lasers. The growing geriatric population leads to increasing burden on health systems and which results in ailment of the eye. According to World Health Organization, the proportion of the worlds population over 60 years will nearly double from 12% to 22% between 2015 and 2050. This is also expected to drive growth of the ophthalmic equipment market.
High cost of ophthalmic contact lenses and equipment makes it less accessible to people of lower economic strata. In addition, wearing of contact lenses can develop several serious conditions including eye infections and corneal ulcers. Moreover in rare cases, these conditions can cause blindness. In 2018, according to Centers for Disease Control and Prevention, Serious eye infections that can lead to blindness affect up to 1 out of every 500 contact lens users per year. So, this factor is also expected to impede the growth of the market.
Global ophthalmic equipment market: Overview
The continuous growth of the ophthalmic equipment market can be attributed to increase in eye related diseases such as glaucoma, cataract, diabetic retinopathy and others. In addition, factors such as rapid technological advancements, technological advanced minimally invasive surgeries, such as LASIK surgery, increasing geriatric population and rising Age-related macular degenerations (AMD) are expected to boost the global ophthalmic equipment market. In 2018, according to National Eye Institute, in U.S. among older white Americans, more than 14 percent of white Americans age 80 and older affected by AMD. However, high cost of contact lenses, ophthalmic equipment and risks associated with it, coupled with lack of skilled ophthalmologists, and poor reimbursement policies for ophthalmic equipment restraint the growth of the target market.
Get Exclusive Discount: https://www.marketindustryreports.com/discount/103
Global ophthalmic equipment market: Regional Outlook
North America dominated the global ophthalmic equipment market owing to growing geriatric population and rise in awareness regarding diagnosis of ophthalmic diseases such as cataract and glaucoma. The Asia Pacific ophthalmic equipment market is expected to grow at the highest CAGR over the forecast period due to the rapidly improving healthcare infrastructure, increasing number of eye disorders such as glaucoma, and increasing awareness of patients towards it. In addition, the growth of this market can be attributed to the increasing outsourcing activities for ophthalmology devices by key industry players, such as Alcon, Inc. in Asia Pacific region.
About Market Industry Reports-
Market Industry Reports is a global leader in market measurement & advisory services, Market Industry Reports is at the forefront of innovation to address the worldwide industry trends and opportunities. We identified the caliber of market dynamics & hence we excel in the areas of innovation and optimization, integrity, curiosity, customer and brand experience, and strategic business intelligence through our research.
Contact Us-
2nd Floor, Manikchand Ikon,
B-Wing, Dhole Patil Road,
Sangamwadi, Pune 411 001
Email: sales@marketindustryreports.com
Phone: +1 347 767 5477 ( US ) + 91 8956 767 535 ( IN )
Website: https://www.marketindustryreports.com/category/healthcare
Follow Us- LinkedIn | Twitter | Face book
