Global ophthalmology devices market to grow expected to grow to USD 84.16 billion during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
There is high market opportunity in ophthalmology devices market owing to which many large companies are focusing to increase their product range and expand their presence in the market through M&A. In the recent years, few significant acquisitions took place in the market. Due to presence of many large and small vendors there is intense competition among the market players; hence, companies are focusing to increase product differentiation, develop products with advanced technology, and form collaboration with more number of end users.
There is an increasing incidence of eye diseases such as AMD, diabetic eye disease such as glaucoma and diabetic retinopathy, cataract, corneal scarring, tumor in eye, trauma, retinitis, refractive error, keratitis, uveitis, and blepharitis. The increasing number of eye disorders will increase the demand for surgical, diagnostic, and vision care devices, which will drive the market growth. The availability of reimbursement in developed countries in Canada, the US, the UK, and Germany for the treatment of such eye disorders will accelerate the demand for ophthalmology devices, accelerating the market growth.
The high price of ophthalmology devices and excessive cost associated with large equipment or devices such as LASIK and OCT systems have increased the cost burden for end users. The end-users such as hospitals and ophthalmology clinics and ASCs have a limited budget allocation for procurement of medical devices. Owing to the high cost of ophthalmology devices procedures, some end users and patients fail to accommodate these expensive devices in their budget allocation, significantly affecting the adoption rate of expensive ophthalmology devices.
- Carl Zeiss Meditec
- Johnson & Johnson
- Valeant Pharmaceuticals International
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