Growing lifestyle diseases leading to the increasing prevalence of eye disorders among the ageing population coupled with need for early detection is driving the ophthalmic device market
Date: 20 January 2016
According to recently published Azoth Analytics report “Global Ophthalmic Device Market: Trends, Opportunities and Forecasts (2015-2020)
- By Type – Diagnostic and Treatment, Diagnostic Devices - By Value, By Region, Treatment Devices - By Value, By Region, Key Players – Performance and Margins, Policy and Regulations”, global ophthalmic device market is forecast to grow at a CAGR of 4.11% during 2015 – 2020F, on account of the prevalence of eye disorders among the rising aging population. As per the data by World Health Organization (WHO), more than 285 million people are estimated to be visually impaired globally, where 39 million are suffering from blindness, while 246 have low vision. It is also predicted that 80% of all visual impairment is preventable. Considering the above factors, market tends to form an opportunity in diagnostic devices, as timely detection for the disorders can delay the process of blindness, while in surgical devices market, it is predicted that more than 3.2 million surgeries are estimated to be performed globally, while growing number of glaucoma patients opting for surgical procedure implies a growing potential for glaucoma microsurgical systems.
Developed regions like Americas and Europe, hold the largest market share in value terms due to the higher number of ophthalmologists meeting the increasing demand of affected population along with developed healthcare infrastructure within these regions. Asia Pacific is expected to emerge as the growing market in coming years due to the focus on eye care infrastructure and increasing number of eye care patients in the region.
The report “Global Ophthalmic Device Market: Trends, Opportunities and Forecasts (2015-2020)
- By Type – Diagnostic and Treatment, Diagnostic Devices - By Value, By Region, Treatment Devices - By Value, By Region, Key Players – Performance and Margins, Policy and Regulations” has analysed the potential of global ophthalmic diagnostics devices market as well as global ophthalmic treatment devices market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global ophthalmic devices (diagnostics and treatment) market. Additionally, the report also highlights market entry strategies for various companies across the globe.