Rise in Aging Population Drives Global Ophthalmology Devices Market
June 10, 2016 | Transparency Market ResearchEstimated reading time: 2 minutes
Transparency Market Research has published a new report on the global ophthalmology devices market. The report, titled ‘Ophthalmology Devices Market - Global Industry Analysis, Size, Share, Growth, And Forecast 2012 - 2018,’ states that the global market is expected to expand at a 5.10% CAGR from 2012 to 2018. As per the report, the global ophthalmology devices market is expected to progress from US$12.92 bn in 2011 to US$18.28 bn by 2018. Advancements in healthcare infrastructure and the rising aging population are two of the major factors expected to benefit the global ophthalmology devices market in the near future.
Ophthalmology is the branch of medicine that deals with the physiology, anatomy, and diseases of the eye. Ophthalmology device manufacturers, distributors, medical companies, healthcare institutions, and research and development firms are currently taking efforts to introduce new medical devices to gain competitive advantage. Ophthalmology devices are primarily used for treating various eye conditions and infections. As these devices help decrease the treatment time and offer quality eye care to patients, they assist in making the eye-treatment process more convenient for patients and ophthalmologists.
The manufacturers of ophthalmology devices such as Essilor International, Johnson and Johnson Vision Care, Hoya Corporation, Abbott Medical Optics Inc., Nidek Co Ltd., Topcon Corporation, Alcon Inc., Carl Zeiss AG, Canon Inc., CooperVision AG, and Bausch and Lomb Inc. are actively introducing new devices to treat various diseases of the eye. With the entry of new companies, the global ophthalmology devices market is expected to register new growth opportunities in the years to come.
With the increasing focus of people on healthcare, the global ophthalmology devices market is expected to witness rapid growth throughout the forecast period. Continuous developments in the field of medical devices and the rising spending on healthcare have propelled the global market for ophthalmology devices in the recent past. The global ophthalmology devices market is segmented on the basis of application, region, disorder, and device. By disorder, the global ophthalmology devices market is classified into cataract, refractor disorder, vitreoretinal disorder, and glaucoma.
Diagnosis, surgery, and vision care are the primary applications of ophthalmology devices. The rising application areas of ophthalmology devices are predicted to propel the global market in the near future. By region, the global ophthalmology devices market is divided into Europe, Latin America, North America, Asia Pacific, and Rest of the World. In 2011, the North America ophthalmology devices market accounted for one-third of the global market. Currently, Europe holds the second position in the global market, followed by Asia Pacific.
Based on device, the global ophthalmology devices market is classified into computerized field analyzers, contact lenses, contact lens clearing and disinfecting solutions, glaucoma drainage devices, intraocular lenses, iris retractors, ophthalmic lasers, ophthalmoscopes, optical coherence tomography devices, phoropters, refractors, and others. Medical devices in the ophthalmology field are used for numerous functions such as surgery, diagnosis, and vision care. Currently, in terms of shipment volume, the vision care devices segment dominates the global market with a share of 65%.
Suggested Items
Amphenol Reports Q1 2024 Results, Announces New Stock Repurchase Program
04/26/2024 | BUSINESS WIREAmphenol Corporation reported first quarter 2024 results. In addition, the Company is announcing a new three-year, $2 billion stock repurchase program.
Chinese Smartphone Market Maintains its Recovery Momentum at 6.5% Growth in 1Q24,
04/26/2024 | IDCAccording to preliminary data from the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, China smartphone shipments grew 6.5% year over year (YoY) to 69.3 million units in 1Q24.
Nanotechnology Market to Surpass $53.51 Billion by 2031
04/25/2024 | PRNewswireSkyQuest projects that the nanotechnology market will attain a value of USD 53.51 billion by 2031, with a CAGR of 36.4% over the forecast period (2024-2031).
Technica USA Presents Inaugural Supplier Alliance Award at IPC APEX EXPO 2024
04/24/2024 | Technica USADuring IPC APEX EXPO 2024, Technica USA took the opportunity to thank all of their supply partners that made the effort to join them for the exhibition in their booth, as well to all of our SMT partners that had their own booths, with the latest in automation and process technology.
IDTechEx Report Unveils 3D Electronics Status and Opportunities
04/22/2024 | PRNewswire3D electronics is an emerging manufacturing approach that enables electronics to be integrated within or onto the surface of objects. 3D electronic manufacturing techniques empower new features, including mass customizability, greater integration, and improved sustainability in the electronics industry.