Global Ophthalmic Equipment Market 2018-2023 - Low Adoption of Phacoemulsification Devices and Premium IOLs in Emerging Regions
DUBLIN, April 11, 2018 /PRNewswire/ --
The "Ophthalmic Equipment Market by Product - Global Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.
The ophthalmic equipment market is estimated to reach USD 58.44 Billion by 2023 from USD 49.30 Billion in 2018, at a CAGR of 3.5%.
Rapid growth in the geriatric population and associated increase in the prevalence of eye diseases, technological advancements in ophthalmic devices, increasing government initiatives to control visual impairment, and rising adoption of contact lenses and spectacles are the major factors driving the growth of the market. However, the high-cost ophthalmic devices and reimbursement cuts for ophthalmic surgical procedures may hinder the growth of this market. Furthermore, the lack of awareness and low accessibility to eye care products in low-income economies is a major challenge for the growth of the ophthalmic equipment market.
In this report, the market is segmented by product, end user, and region. By product, the ophthalmic equipment market is majorly segmented into diagnostic and monitoring devices, surgical devices, and vision care products. The vision care products segment accounted for the largest share of the ophthalmic equipment market in 2017. The high prevalence of eye disorders such as myopia, hyperopia, astigmatism, and presbyopia is a key driver for market growth in this segment.
Based on cataract surgical devices type, the ophthalmic equipment market is segmented into intraocular lenses (IOLs), ophthalmic viscoelastic devices (OVDs), phacoemulsification machines, cataract lasers, and IOL injectors. The IOLs segment held the largest share of this market in 2017. The large share of this segment can primarily be attributed to the rising prevalence of cataracts, high adoption of premium IOLs, and availability of advanced technologies like micro-incision cataract surgeries. However, the high cost of surgical procedures and post-operative complications, such as refractive errors are some of the major factors which may restrain the growth of this market to a certain extent.
On the basis of end user, the ophthalmic equipment market is segmented into consumers, hospitals, specialty clinics & ambulatory surgery centers (ASCs), and other end users (medical education centers, eye research institutes, and laboratories). In 2017, the consumers segment accounted for the largest share of the ophthalmic equipment market. Factors such as rising prevalence of ocular disorders and larger adoption of contact lenses and spectacles across the globe are the key market drivers for this segment.
Geographically, North America represented the largest regional market in 2017, followed by Europe. Although, North America will continue to dominate the ophthalmic equipment market during the forecast period, the Asia Pacific (APAC) region is expected to be the fastest-growing market in the coming years. Growth in this region is driven by the significant demand for quality and technologically advanced devices from the large patient populations in India and China. Moreover, with developed economies reaching saturation, manufacturers and suppliers are expected to focus on the Asian market.
Major players in ophthalmic equipment market are continuously focusing on securing high market shares through product launches, expansions, agreements, partnerships, collaborations, and acquisitions. The prominent players in the ophthalmic equipment market are Essilor (France), Alcon (Switzerland), Johnson & Johnson Vision Care (US), Bausch + Lomb (US), Haag-Streit (Switzerland), TOPCON (Japan), Carl Zeiss Meditec (Germany), NIDEK (Japan), STAAR Surgical (US), HOYA (Japan), and Ziemer Ophthalmic Systems (Switzerland).
Key Topics Covered
1 Ophthalmic Equipment Market: Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Ophthalmic Equipment Market: Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown and Data Triangulation
2.4 Market Share Estimation
2.5 Assumptions for the Study
3 Ophthalmic Equipment Market: Executive Summary
4 Ophthalmic Equipment Market: Premium Insights
4.1 Ophthalmic Equipment Market: Overview
4.2 APAC: Ophthalmic Equipment Market, By Type
4.3 Geographical Snapshot of the Ophthalmic Equipment Market
4.4 Ophthalmic Equipment Market: Regional Mix
4.5 Ophthalmic Equipment Market Share, By Type (2018 vs 2023)
5 Ophthalmic Equipment Market: Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Rapid Growth in the Geriatric Population
5.2.1.2 Rising Prevalence of Eye Diseases
5.2.1.2.1 Cataracts
5.2.1.2.2 Glaucoma
5.2.1.2.3 Obesity and Diabetes
5.2.1.2.4 Age-Related Macular Degeneration (AMD)
5.2.1.3 Technological Advancements in Ophthalmic Devices
5.2.1.4 Increasing Government Initiatives to Control Visual Impairment
5.2.1.5 Increasing Adoption of Contact Lenses and Spectacles
5.2.2 Market Restraints
5.2.2.1 High Cost of Ophthalmology Devices
5.2.2.2 Increasing Adoption of Refurbished Ophthalmic Devices
5.2.2.3 Reimbursement Cuts for Ophthalmic Surgical Procedures
5.2.3 Market Opportunities
5.2.3.1 Low Adoption of Phacoemulsification Devices and Premium Iols in Emerging Regions
5.2.3.2 Untapped Emerging Markets
5.2.4 Challenges
5.2.4.1 Lack of Awareness, Low Accessibility to Eye Care Products in Low-Income Economies
5.2.4.2 Scarcity of Ophthalmologists
6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 OCT Angiography (OCT-A) Devices
6.2.2 Increasing Trend Towards the Development of Integrated Ophthalmic Systems
6.2.3 Femtosecond Laser-Assisted Cataract Surgery
6.2.4 Technological Advancements in Iols
6.2.5 Advances in Refractive Surgery
6.2.6 Minimally Invasive Glaucoma Surgery
6.2.7 Shift From Spectacles to Contact Lenses
6.3 Vendor Benchmarking
6.3.1 Product Portfolio Analysis: Ophthalmology Devices Market
6.4 Regulatory Analysis
6.4.1 North America
6.4.1.1 US
6.4.1.2 Canada
6.4.2 Europe
6.4.3 Asia Pacific
6.4.3.1 Japan
6.4.3.2 China
6.4.3.3 India
7 Ophthalmic Equipment Market, By Product
7.1 Introduction
7.2 Vision Care Products
7.2.1 Spectacles
7.2.2 Contact Lenses
7.2.2.1 Soft Contact Lenses
7.2.2.2 Rigid Gas Permeable Lenses (RGP)
7.2.2.3 Hybrid Contact Lenses
7.3 Ophthalmology Surgical Devices
7.3.1 Cataract Surgical Devices
7.3.1.1 Intraocular Lenses (IOLS)
7.3.1.2 Ophthalmic Viscoelastic Devices (OVDS)
7.3.1.3 Phacoemulsification Devices
7.3.1.4 Cataract Surgical Lasers
7.3.1.5 Iol Injectors
7.3.2 Vitreoretinal Surgical Devices
7.3.2.1 Vitreoretinal Packs
7.3.2.2 Vitrectomy Machines
7.3.2.3 Photocoagulation Lasers
7.3.2.4 Illumination Devices
7.3.2.5 Vitrectomy Probes
7.3.3 Refractive Surgical Devices
7.3.3.1 Femtosecond Lasers
7.3.3.2 Excimer Lasers
7.3.3.3 Other Refractive Surgical Lasers
7.3.4 Glaucoma Surgical Devices
7.3.4.1 Glaucoma Drainage Devices (GDDS)
7.3.4.2 Microinvasive Glaucoma Surgical Devices
7.3.5 Ophthalmic Microscopes
7.3.6 Ophthalmic Accessories
7.3.6.1 Surgical Instruments and Kits
7.3.6.2 Ophthalmic Forceps
7.3.6.3 Ophthalmic Spatulas
7.3.6.4 Ophthalmic Tips and Handles
7.3.6.5 Ophthalmic Scissors
7.3.6.6 Macular Lenses
7.3.6.7 Ophthalmic Cannulas
7.3.6.8 Other Ophthalmic Accessories
7.4 Diagnostic and Monitoring Devices
7.4.1 Optical Coherence Tomography Scanners
7.4.2 Fundus Cameras
7.4.3 Perimeters/Visual Field Analyzers
7.4.4 Autorefractors and Keratometers
7.4.5 Ophthalmic Ultrasound Imaging Systems
7.4.5.1 Ophthalmic A-Scan Ultrasound
7.4.5.2 Ophthalmic B-Scan Ultrasound
7.4.5.3 Ophthalmic Ultrasound Biomicroscopes
7.4.5.4 Ophthalmic Pachymeters
7.4.6 Tonometers
7.4.7 Slit Lamps
7.4.8 Phoropters
7.4.9 Wavefront Aberrometers
7.4.10 Optical Biometry Systems
7.4.11 Ophthalmoscopes
7.4.12 Lensmeters
7.4.13 Corneal Topography Systems
7.4.14 Chart Projectors
7.4.15 Specular Microscopes
7.4.16 Retinoscopes
8 Ophthalmic Equipment Market, By End User
8.1 Introduction
8.2 Consumers
8.3 Hospitals
8.4 Specialty Clinics and Ambulatory Surgery Centers
8.5 Other End Users
9 Ophthalmic Equipment Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.3 Europe
9.3.1 Germany
9.3.2 France
9.3.3 UK
9.3.4 Italy
9.3.5 Spain
9.3.6 Rest of Europe (RoE)
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Rest of Asia Pacific (RoAPAC)
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Rest of Latin America (RoLA)
9.6 Middle East & Africa
10 Ophthalmic Equipment Market, Competitive Landscape
10.1 Overview
10.2 Market Share Analysis
10.2.1 Ophthalmology Diagnostic and Monitoring Devices Market
10.2.1.1 Optical Coherence Tomography (OCT) Scanners
10.2.1.2 Fundus Cameras
10.2.2 Ophthalmology Surgery Devices Market
10.2.2.1 Cataract Surgery Devices Market
10.2.2.2 Glaucoma Surgery Devices Market
10.2.2.3 Refractive Surgery Devices Market
10.2.3 Contact Lenses Market
10.3 Competitive Situation and Trends
10.3.1 Product Launches
10.3.2 Agreements, Partnerships, and Collaborations
10.3.3 Acquisitions
10.3.4 Expansions
11 Company Profiles
11.1 Alcon
11.2 Bausch + Lomb
11.3 Carl Zeiss Meditec
11.4 Johnson & Johnson
11.5 Hoya
11.6 Essilor
11.7 Haag-Streit
11.8 Nidek
11.9 Staar Surgical
11.10 Topcon
11.11 Ziemer Ophthalmic Systems
For more information about this report visit https://www.researchandmarkets.com/research/hbwd7q/global_ophthalmic?w=5
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