Hyderabad, India -- (SBWire) -- 03/02/2018 --According to a new market research report " Ophthalmic devices Market by Product Type (Surgical devices, monitoring and diagnostic devices, vision care), by devices (Lenses, Glaucoma surgical devices, Ophthalmic Lasers, Cataract surgical devices, Iris retractors, lens clearing and disinfectant solutions and others), By End Users (Hospitals, Eye care Clinics, Research Institutes, Others) - Global Forecast to 2021", published by MarketDataForecast™, the market is expected to reach USD 44.76 Billion by 2021 from USD 33.13 Billion in 2016, at a CAGR of 6.2%.
The ophthalmology field needs medical devices for many functions admire diagnosing, vision care, and surgery. The innovative devices and increasing application of technology in medical specialty has paved the way for customers to possess sensible and economical solutions for numerous eye-related disorders and vitreoretinal disorders, refractor disorders, and cataract. The foremost vital share of the worldwide ophthalmic devices Market is contributed by vision care devices. These devices embody lens system, spectacles, and lens improvement and disinfecting solutions for eyewear still as for surgical devices. The increasing geriatric population and connected increase in number of eye diseases and technological advancements in medicine devices are the key factors driving the ophthalmic devices Market growth. However, factors similar to unsure compensation structure and lack of tending insurance in developing countries are restraining the expansion of this market.
Browse Market Data Tables and Figures spread through 179 Pages and in-depth TOC on "Ophthalmic devices Market"
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Surgical Devices are estimated to account for the largest market share in 2016
By product, the ophthalmic devices Market is classified into surgical devices, monitoring and diagnostic devices, vision care. The surgical devices segment is anticipated to register the very best growth owing to the increasing incidences and prevalence rates of eye diseases, glaucoma, refractive errors, and diabetic retinopathy.
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The Lens clearing segment is expected to dominate the market in 2016
Based on devices, the market is segmented into Lenses, Glaucoma surgical devices, Ophthalmic Lasers, Cataract surgical devices, Iris retractors, lens clearing and disinfectant solutions and others. Lens clearing segment accounted for the major share of the market in 2016 owing to a shift within the preference of the users from spectacles towards the use of contact lenses.
Based on End-users, the market is segmented into Hospitals, Eye care Clinics, Research Institutes, Others.
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North America is estimated to command the largest share of the market
Based on region, the Ophthalmic devices Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America accounted for the most important share of the ophthalmic devices Market, followed by Europe. The growing awareness & adoption of advanced ophthalmic devices, the presence of well-established distribution channels, and presence of leading firms in this region square measure driving market growth in North America.
Key players in the Ophthalmic devices Market include Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG.
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Addresses the opportunities by better understanding the market through size estimates and growth rate analysis to forecast the market for the future
Extensive segmentation to understand the dynamics of market at a very granular level by splitting down the market to the smallest segment
Addresses the key market dynamics involving the drivers, restraints and challenges with an aim of providing insights for gaining market share
The factors responsible for the shaping of the industry as it is as a result of competitive environment is analyzed through Porter's Five Forces
The effects of political, economic, social, technological, legal and environmental factors on the industry is analyzed through PESTLE analysis to better understand the aspects of strategic management required to comply with the exogenous and endogenous factors
Strategic evaluation of the key players to gain insights of their performance allowing access to their product portfolio, financial performance and the strengths of their business strategic developments
Comparative study of the firms across the industry measuring their performances based on market share and recent activities in order to achieve competitive intelligence
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