Increase in number of contact lens users:
Contact lenses are curved and thin which are placed on the film of tear that covers the eye surface. Lenses are generally natural in colour but sometimes they might have a slight tinge to help the user to differentiate and handle. Contact lenses are either hard or soft, most people choose to wear them mostly for vision correction, but they are also used for purely cosmetic and novelty purposes.
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Increasing Prevalence of Eye Diseases:
A lot of people encounter eye issues from time to time, and vision issues which generally grow with age. These issues are minor and don't keep going too long. In few cases, genuine eye issues can cause harm to the eyes, including a perpetual loss of vision. The major eye conditions are diabetic retinopathy, glaucoma, and age-related macular degeneration.
High Cost of Equipments and Surgery
Ophthalmic devices are major assets that are required to deliver quality eye care at an appropriate cost. This asset should be chosen with care and once purchased it ought to be maintained and utilized productively with a goal to create profit. Business competition in the health sector, increasing number of services and options to costumers and the limitation of resources will increase the need for professionals to stay up to date about the technical aspects. The general financial issues that should be addressed to justify the investment in ophthalmic devices are as following: Anticipated revenue per year, estimated expenses per year, Volume required for break even and estimated financial returns over multiyear period.
Programs and Initiatives to Reduce Burden of Eye Diseases:
Significant advancement in the prevention of visual impairment have been made, to battle the visual diseases by various organisations like World Health Organization (WHO) and its Member States, UN agencies, nongovernmental organizations (NGOs) and the private sector. The second Thursday of October is observed as the World Sight Day (WSD) which is an annual day of awareness to create global attention on blindness and vision impairment.
Low Adoption of Phacoemulsification and Premium IOLs in Developing Countries:
Phacoemulsification cataract surgery is a procedure which uses ultrasonic devices to break up and remove cataract or a cloudy lens for a better vision immediately after phacoemulsification insertion of an intraocular lens (IOL) is done.
As an alternative to phacoemulsification, extracapsular extraction is a procedure that is done with no sutures and extremely small incisions. Thus, it has become popular in the developing countries.
According to a survey, Surgeons are expected to perform nearly 18.5 million phacoemulsification procedures globally in 2018. Ultrasonic phacoemulsification (USP) continues to be the standard treatment procedure for cataract surgery in developed nations, and its adoption in less developed regions will increase gradually.
Less Number of Skilled Professionals
The number of ophthalmologists in both developing and developed countries is less, although projections are a little higher for developed countries, where the number of ophthalmologists is increasing, but not as fast as the population of geriatric patients aged 60 years or older who need increased ophthalmologic care. The problem is that, in most of the countries, the demographic changes do not match up to the professional development. It is necessary to train eye care teams to meet the demand of current number of ophthalmologists worldwide.
Some of the major players operating in the market are ESSILOR, BAUSCH & LOMB, INC, JOHNSON & JOHNSON SERVICES, INC., Novartis, HOYA GROUP and among others.
Global Ophthalmology Devices Market – Industry Trends and Forecast to 2026
North America Ophthalmology Devices Market - Industry Trends and Forecast to 2026
Europe Ophthalmology Devices Market - Industry Trends and Forecast to 2026
Asia-Pacific Ophthalmology Devices Market - Industry Trends and Forecast to 2026
Middle East - Africa Ophthalmology Devices Market - Industry Trends and Forecast to 2026
Ophthalmology Devices Market is Poised to Grow at 2.5% till 2024
Ophthalmology Devices Market to Witness High Demand Due to Increasing Cases of Eye Diseases
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