LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global eye care surgical devices market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global eye care surgical devices market will grow at a CAGR of approximately 8% during the forecast period. The high incidence of eye diseases is a major factor driving the market’s growth.
The incidence of eye diseases is increasing across the globe, mainly in industrialized and middle-income countries. The most common eye disorders include cataract, glaucoma, retinal tears or holes, diabetic retinopathy, macular degeneration, myopia, hyperopia, and astigmatism. Change in dietary habits, unhealthy lifestyle, and the increased use of electronic equipment such as computers, TVs, and video games affects eyesight. Smoking increases an individual’s chances of developing age-related macular degeneration (AMD) by two to three times. Similarly, people with a diet high in fat, cholesterol, and sugar and low in antioxidants are more prone to be affected by AMD.
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The emerging market trends driving the global eye care surgical devices market according to Technavio research analysts are:
- Availability of advanced technology
- Shift toward ASCs for eye care
- Availability of advanced IOLs implants
Availability of advanced technology
There has been a shift from open surgical procedures to MI surgeries for the treatment of diabetic retinopathy in the past. Advances in laser technology have brought several new laser types that include pattern scan laser, reduced fluence laser, short-pulse duration, and navigated laser systems for macular edema and proliferative diabetic retinopathy. Advances in laser technologies particularly for IOLs have changed the outlook of the market. The use of femtolaser systems for making incisions during capsulotomy assists in reducing human errors. These systems are being rapidly adopted for other ophthalmic surgeries such as cataract operations and keratoplasty.
Such advances have brought about a revolution in the ophthalmic industry over the last decade. The pattern scanner laser allows application of multiple lasers in an array with a shorter duration of 10ms-30ms and this has many advantages over conventional laser therapy such as increased safety, accurate grid pattern, and reduced visual field defect. The use of pattern scans laser technology aids in the quick and comfortable treatment of diabetic retinopathy.
“Ophthalmologists use OCT to detect glaucoma or macular edema associated with diabetic retinopathy. This technology can analyze the quantitative progression of these diseases and assess retinal abnormalities. Such advances will help in making the diagnosis easier and improve treatment outcomes,” says a senior analyst at Technavio for research on orthopedics and medical devices.
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Global eye care surgical devices market segmentation
This market research report segments the global eye care surgical devices market based on application (cataract surgery, glaucoma surgery, and diabetic eye surgery) and geography (the Americas, APAC, and EMEA).
The Americas was the leading region for the global eye care surgical devices market in 2017, accounting for a market share of around 46%. The Americas and EMEA are expected to have slow growth during the forecast period as they are early adopters of new technology. The share of APAC in the global eye care surgical devices market will have a significant growth during the forecast period when compared with the Americas and EMEA.
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