Global Ophthalmic Devices Market to Expand at 4.11% CAGR from 2015 to 2020, Boosted by Growing Need for Smart Diagnosis


Published Date : Feb 08, 2016

ALBANY, New York, Feb 08, 2016- MarketResearchReports.biz has announced the addition of a recent report, titled ‘Global Ophthalmic Devices Market: Trends, Opportunities And Forecasts (2015-2020F) - (By Type – Diagnostic And Treatment (Value, By Region, Key Players, Regulatory Overview, Margins And Revenue Contribution),’ to its online repository. As per the report, the global ophthalmic devices market is expected to expand at a 4.11% CAGR in the period between 2015 and 2020 owing to the rising need for smart diagnosis and the advancements in the technology in medical devices.

Over the past few years, the growing prevalence of lifestyle diseases has led to a growing number of cases of eye disorders, especially among the geriatric population. This has led to growth of the global ophthalmic devices market. Going forward, the global ophthalmic devices market is expected to expand at a rapid pace due to factors such as the need for early detection and treatment of eye disorders and the growing need for smart and effective diagnosis.

Rising healthcare expenditure, the increasing occurrence of eye disorders, and changing lifestyles are some of the factors responsible for the rapid growth of the global ophthalmic devices market over the past five years. In the coming few years, the global ophthalmic devices market is expected to register its highest growth due to the increasing occurrence of lifestyle diseases such as diabetes and obesity, resulting in various eye diseases, especially in emerging nations.

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The global ophthalmic devices market is segmented on the basis of region and type of device. Based on region, the global ophthalmic devices market is divided into the Americas, the Middle East, Africa, Europe, and Asia Pacific. Aurolab, HOYA Corporation, Abbott Medical Optics (AMO), Topcon Corporation, Novartis AG, Valeant Pharmaceuticals Pvt. Ltd., Carl Zeiss Meditec AG, Essilor International, Nidek Co., Ltd., and Haag Streit are some of the leading companies in the global ophthalmic devices market. The introduction of new ophthalmic devices by new entrants is expected to make the global ophthalmic devices market highly competitive for the leading companies.

By type of device, the global ophthalmic devices market is classified into diagnostic devices and treatment devices. In 2015, the diagnostic devices segment dominated the global ophthalmic devices market and is expected to expand at a rapid pace during the forecast period.

Some of the ophthalmic diagnostic devices on the market are autorefractor/keratometers/ ophthalmometers, slit lamps, tonometers, ophthalmoscopes, fundus cameras, optical coherence tomography, perimeter/visual field analyzers, ophthalmic ultrasound imaging systems, and corneal topographers.

Some of the ophthalmic treatment devices are cataract surgical treatment devices, glaucoma surgical treatment devices, refractive error surgical treatment devices, and vitreoretinal surgical treatment devices.

The market for diagnostic devices such as optical coherence tomography and fundus cameras is expected to develop rapidly in the years to come. The market for treatment devices such as femtosecond lasers and excimer lasers is also predicted to expand in the coming few years. Changing trends and growing government support for the production of new ophthalmic devices are two of the other factors expected to contribute towards the growth of the global ophthalmic devices market during the forecast period.

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