Rise in Aging Population Drives Global Ophthalmology Devices Market
June 10, 2016 | Transparency Market ResearchEstimated reading time: 2 minutes
Transparency Market Research has published a new report on the global ophthalmology devices market. The report, titled ‘Ophthalmology Devices Market - Global Industry Analysis, Size, Share, Growth, And Forecast 2012 - 2018,’ states that the global market is expected to expand at a 5.10% CAGR from 2012 to 2018. As per the report, the global ophthalmology devices market is expected to progress from US$12.92 bn in 2011 to US$18.28 bn by 2018. Advancements in healthcare infrastructure and the rising aging population are two of the major factors expected to benefit the global ophthalmology devices market in the near future.
Ophthalmology is the branch of medicine that deals with the physiology, anatomy, and diseases of the eye. Ophthalmology device manufacturers, distributors, medical companies, healthcare institutions, and research and development firms are currently taking efforts to introduce new medical devices to gain competitive advantage. Ophthalmology devices are primarily used for treating various eye conditions and infections. As these devices help decrease the treatment time and offer quality eye care to patients, they assist in making the eye-treatment process more convenient for patients and ophthalmologists.
The manufacturers of ophthalmology devices such as Essilor International, Johnson and Johnson Vision Care, Hoya Corporation, Abbott Medical Optics Inc., Nidek Co Ltd., Topcon Corporation, Alcon Inc., Carl Zeiss AG, Canon Inc., CooperVision AG, and Bausch and Lomb Inc. are actively introducing new devices to treat various diseases of the eye. With the entry of new companies, the global ophthalmology devices market is expected to register new growth opportunities in the years to come.
With the increasing focus of people on healthcare, the global ophthalmology devices market is expected to witness rapid growth throughout the forecast period. Continuous developments in the field of medical devices and the rising spending on healthcare have propelled the global market for ophthalmology devices in the recent past. The global ophthalmology devices market is segmented on the basis of application, region, disorder, and device. By disorder, the global ophthalmology devices market is classified into cataract, refractor disorder, vitreoretinal disorder, and glaucoma.
Diagnosis, surgery, and vision care are the primary applications of ophthalmology devices. The rising application areas of ophthalmology devices are predicted to propel the global market in the near future. By region, the global ophthalmology devices market is divided into Europe, Latin America, North America, Asia Pacific, and Rest of the World. In 2011, the North America ophthalmology devices market accounted for one-third of the global market. Currently, Europe holds the second position in the global market, followed by Asia Pacific.
Based on device, the global ophthalmology devices market is classified into computerized field analyzers, contact lenses, contact lens clearing and disinfecting solutions, glaucoma drainage devices, intraocular lenses, iris retractors, ophthalmic lasers, ophthalmoscopes, optical coherence tomography devices, phoropters, refractors, and others. Medical devices in the ophthalmology field are used for numerous functions such as surgery, diagnosis, and vision care. Currently, in terms of shipment volume, the vision care devices segment dominates the global market with a share of 65%.
Suggested Items
SiPearl: Partnership with Samsung Electronics for built-in HBM in Rhea
05/14/2024 | BUSINESS WIRESiPearl, the company building the high-performance low-power European microprocessor for HPC and AI inference, has signed a partnership with Samsung Electronics Co. Ltd., a world leader in advanced memory technology, to equip its Rhea series with Samsung’s advanced memory solution ideal for HPC and AI applications.
LPKF is Ready for Increasing Demand for Glass Substrates in the Semiconductor Industry
05/13/2024 | LPKFThe semiconductor industry is shifting towards glass to package the most advanced semiconductor chips. LPKF’s mature LIDE technology is enabling that transition into this new era from ramp-up to high volume manufacturing.
Kitron Initiates Share Buyback
05/13/2024 | KitronKitron ASA initiates a share buyback in connection with remuneration to the board members.
PC Client CPU Shipments in 1Q24 Up 33% YoY
05/10/2024 | Jon Peddie ResearchJon Peddie Research reports the growth of the global PC client-based CPU units market reached 62 million units in Q1’24, a decrease of -9.4% quarter to quarter and a 33% growth from Q1’23.
Omdia: OLED Monitor Display shipments to surge by 123% YoY as Top Brands Embrace its Technology in 2024
05/09/2024 | PRNewswireOLED monitor display shipments significantly increased in 2023, following an upsurge of 415% year-over-year (YoY), according to Omdia's Monitor Display & OEM Market Tracker. This trend is set to continue with Omdia forecasting a 123% YoY increase in 2024, reaching 1.84 million units, driven by industry leaders Samsung Display and LG Display.