According to Data Bridge Market Research new Market report “Global Ophthalmology Devices Market, By Type (Diagnostic & Monitoring Devices (OCT Scanners, Ultrasound, Fundus Cameras, Opthalmoscopes, Retinoscopes, Others), Surgical Devices (Cataract Surgery Devices, Glaucoma Surgery Devices, Refractive Surgery Devices, Vitreoretinal Surgery Devices) and Vision Care Devices), By Applications (Diagnosis, Surgery, Regular Use), By End-User (Hospitals, Academics, Research Laboratories, Diagnostic Clinics, Franchise Optical Stores, Government Agencies), By Distribution Channel (Retail, Direct Tenders), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2024” is projected to reach USD 18.2 billion by 2024 from USD 7.5 billion in 2016, at a CAGR of 11.7% in the forecast period 2017 to 2024
However, various factors, such as lack of awareness towards eye diseases, high risks associated with the eye surgeries hamper the growt h of ophthalmology devices market. A procedure's ultimate success depends on two factors: surgical technique and the eye's response to the surgery. In cases such as trabeculectomy; Healing may cause some problems, rapid healing will cause fibrosis and lead to failure of the bleb. In other cases, such as while implanting a tube shunt, healing allows success. As without the process of healing, the tube shunt would be a catastrophic process leading to marked hypotony.
There are also some problems associated with the use of ophthalmology devices such as changes made to the cornea can’t be reversed after LASIK surgery. The LASIK surgery is done on the most sensitive part of the eye and if once done it is not reversible .The surgery is usually not covered by insurance policies. Even after a LASIK surgery, a person may require reading glasses during midlife.
On the basis of geography market is segmented into regions like, North America, Europe, Asia-Pacific, South America and Middle East and Africa. These geographical regions are further segmented into major countries such as US, Canada, Mexico, UK, Germany, France, Spain, Italy, Rest of Europe, Japan, China, India, Rest of APAC, Brazil, and Mexico.
The global ophthalmology devices market is highly fragmented with various companies operating in local regions. The major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes company share data for different geographies including Global, North America, Europe, APAC and Middle East and Africa.
The global ophthalmology device market report contains an in-depth profiling of the key market players, along with the recent developments (New product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the market Some of the major players operating in this market are Essilor, Marco, Heidelberg Engineering GmbH, Haag-Streit Group, Johnson and Johnson Vision Care, Inc. , HOYA GROUP, Abbott Laboratories Inc., CIBA Vision, Nidek Co., Ltd. , Topcon Corporation, Novartis AG, Carl Zeiss AG, Canon Inc., Cooper Vision AG, and Bausch and Lomb Inc, STAAR Surgical Company, Topcon Corporation, Alcon Inc., Bausch & Lomb, Inc. and, Allergan , Inc. among others.
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