Ophthalmic Optics Instrument Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023
- Transparency Market Research
- Medical Equipments
The global ophthalmic optics instrument market is driven majorly by the increasing aging population and their increased risk to have eye disorders. In addition to this, young people are also suffering from various eye related problems, thanks to the increased use of smartphones and long hours of working on computers. As most people are working endlessly on their laptops and computers, their vision is increasingly getting affected. Moreover, watching television and playing video games, wherein users have to continuously stare at the gaming console so as to maintain concentration are some of the other factors that have resulted in increasing incidences of eye disorders across the globe. This in turn is fueling the demand for eye diagnosis, driving the global ophthalmic optics instrument market.
Increased awareness among people regarding the need to get eye checkups on a regular basis to avoid major eye problems is also benefitting the growth of the global ophthalmic optics instrument market. In addition to this, favorable reimbursement policies will help push the growth of the market. The improvements in healthcare infrastructure will also aid the growth of the market. Advanced technology and continuous efforts taken by market players for innovation are some of the other growth drivers for the ophthalmic optics instrument market. The increasing trend for undergoing minimally invasive eye surgeries is greatly supporting the growth of the market. On the other hand, cost can be a obstructing factor for cost sensitive and developing countries.
Ophthalmology is the branch of science that is concerned with the physiology, anatomy and disease of the eye. Similarly, ophthalmic optics include any optics pertaining to eye such as contact lenses, intraocular lenses, spectacle lenses, refractive surgery and optical instruments that are used for the examination of eye. The ophthalmic optics instrument market has witnessed impressive growth in the past few years due to technological advancements which is helping the patients to regain their lost vision. Infections, inflammations and defects in the vision might result in partial or complete loss of vision. Thus, various ophthalmic instruments play a vital role in vision restoration as eyes are one of the most crucial sensory organs.
The market for ophthalmic optics instrument can be segmented on the basis of type of surgery devices, diagnostic devices and vision care. The surgery devices segment can be classified into cataract surgery devices, refractive surgery devices, glaucoma surgery devices and vitroeretinal surgery devices. The diagnostic devices segment can be classified into tonometer, slit lamps, fundus cameras, autorefractometers, keratometers, optical coherence tomography (OCT) systems, gonioscopes, ophthalmic echography, fluorescein angiography, perimeters, pachymeters, specular microscopes, corneal topographers and others. Vision care segment can be categorized into spectacle lenses and contact lenses. Refractive surgery devices market can be further split into excimer laser, YAG laser, femtosecond laser and microkeratome. The market report on ophthalmic optic and instruments can be further classified into four geographies namely North America, Europe, Asia-Pacific and Rest of the World.
The market for ophthalmic optics and instrument holds an immense potential due to technological innovation and continuous rise in geriatric population. Furthermore, growing awareness among the patients for effective diagnostic platforms, improved healthcare infrastructure and increasing penetration of minimally invasive surgeries are also held as major reasons for the growth of ophthalmic optics and instrument market. The market is also being triggered by aging population which is more prone to eye disorders is further expected to boost the growth of this market. However, high cost, economic slowdown and issues with reimbursement policies are some of the reasons that are anticipated to hamper the growth of ophthalmic optic instruments market.
Geographically, North America accounts for the largest share of the ophthalmic optic and instruments market followed by the European region. The dominance of these regions in this market is seen due to technological advancements and presence of well trained ophthalmologists. Further, increasing awareness among patient population, improved healthcare infrastructure and rising prevalence of cataract surgeries are other reasons due to which market is expected to show healthy growth. However, in the near future the U.S market is expected to decline its market share owing to market maturity. Asia-Pacific is expected to show healthy growth in the near future due to improving healthcare infrastructure in the regions of India, China, Japan, Singapore and Vietnam. Additionally, aging population which is more prone to ophthalmic disorders and growing disposable income in the Asian region are also indentified as another major driver that is augmenting the demand of ophthalmic optics and instrument in this region.
Carl Zeiss Meditec AG, Alcon Inc. (A Novartis Company), Haag-Streit AG, Topcon Corporation, Ziemer Ophthalmic Systems AG, Nidek Co. Limited, Bausch & Lomb Inc, Shenzhen MOPTIM Imaging Technique Co., Ltd, Canon, Hoya Corporation, STAAR Surgical Company, SynergEyes, Inc., CooperVision, Essilor International and others are some of the major players operating in ophthalmic optics instrument market.
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