The Ophthalmic Equipment Market to Grow Rapidly Owing to the Increasing Geriatric Population

Transparency Market Research in its new report titled, “Ophthalmic Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the ophthalmic equipment market. The TMR report anticipates that the increasing geriatric population will drive the ophthalmic equipment market during the forecast period i.e, 2018-2026. Aging increases the prevalence of cataract, glaucoma, diabetes, and ophthalmic complications associated with diabetes.

 

Age-related macular degenerations (AMD), technological advancements, government initiatives for old visually impaired patients such as free of cost camps for eye check-up and cataract problems, and rise in adoption of contact lenses and spectacles also propel the market. However, high cost of ophthalmic contact lenses and ophthalmic devices, increase in adoption of refurbished ophthalmic devices, less access to eye care products for low income group, lack of skilled ophthalmologists, and poor reimbursement policies for ophthalmic devices act as restraints of the global ophthalmic equipment devices market, says the report.

 

The TMR report has segregated the global ophthalmic equipment market based on product type, end-user, and region. In terms of product type, the market is classified into vision care products, ophthalmic surgical devices, and diagnostic & monitoring devices. The vision care products segment can be bifurcated into spectacles and contact lenses. The contact lenses sub-segment can be categorized into soft contact lenses, rigid gas permeable lenses, and hybrid contact lenses. The ophthalmic surgical devices segment can be divided into cataract surgical devices, vitreoretinal surgical devices, refractive surgical devices, glaucoma surgical devices, ophthalmic microscopes, and ophthalmic accessories.

 

The cataract surgical devices sub-segment can be classified into intraocular lenses, ophthalmic viscoelastic devices, phacoemulsification devices, cataract surgical devices, and IOL injectors. The vitreoretinal surgical devices sub-segment can be categorized into vitreoretinal devices, vitrectomy machines, photocoagulation lasers, illumination devices, and vitrectomy probes. The refractive surgical devices sub-segment can be divided into femtosecond lasers, excimer lasers, and other refractive surgical lasers. The glaucoma surgical devices sub-segment can be bifurcated into glaucoma drainage devices and microinvasive glaucoma surgical devices.

 

The ophthalmic accessories sub-segment is further segmented into surgical instruments & kits, ophthalmic forceps, ophthalmic spatulas, ophthalmic tips & handles, ophthalmic scissors, macular lenses, ophthalmic cannulas, and others. On the basis of end-user, the global ophthalmic equipment market is classified into consumers, hospitals, specialty clinics, and ambulatory surgical centers. From a geographical standpoint, the global ophthalmic equipment is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

 

North America and Europe dominated the global ophthalmic equipment devices owing to increase in awareness about early diagnosis of ophthalmic complications such as cataract and glaucoma, technological advancements, and strong reimbursement policies. Asia Pacific is a potential market for ophthalmic equipment due to rise in number of cataract cases and skilled health care professionals. Latin America and Middle East & Africa are emerging markets due to increase in government investment in health care and rise in presence of key players.

 

Some of the key players in the global ophthalmic equipment market include Essilor, Alcon, Johnson & Johnson Vision Care, Bausch + Lomb, Haag-Streit, Topcon Corporation, Carl Zeiss AG, NIDEK, STAAR Surgical, HOYA, and Ziemer Ophthalmic Systems, among others.

 

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