Global Ophthalmology Devices Market: Awareness and Availability of Diagnostic Camps Organized by the Authorities are Boosting the rate of Adoption for Ophthalmology Devices

Global Ophthalmology Devices Market

Ophthalmology devices consist of various diagnostic, monitoring treatment and vision care devices all focused on the treatment of disorders of eye. These devices contain something significantly minute like contact lenses to something significantly high-end such as diamond knife. These devices are generally utilized by an ophthalmologist for the successful delivery of healthcare services.

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The main factors behind the growth of the market are:

  • Increase in number of contact lens users: The adoption rate of contact lenses have increased significantly in the recent years due to the millennial population utilizing these lenses for correcting their vision and preferring them over spectacles. The most common infection caused due to wearing contact lenses is “Keratitis”. The contact lens in some extreme cases may even scar the cornea resulting in the requirement of corneal transplant for vision correction. Lenses are not just associated with the cause of this specific disorder they are known to cause a variety of more ophthalmic disorders. Therefore, the need for increasing their self-appeal, majority of the population are adopting contact lenses but unknowingly they are causing a greater threat to eyes of individuals
  • Increasing prevalence of eye diseases: One of the most obvious reasons behind the adoption of ophthalmology devices is the rising availability of eye diseases in the global population. This need for correctly diagnosing, monitoring and treatment of eye diseases is one of the major growth factors behind this market. These eye diseases require the high-end medical devices for vision correction, transplantation procedures, surgical devices for sutures, guarding devices which prohibit the external pollutants or factors such as eyelashes from reducing the success of surgeries

The market is segmented on the basis of product type as vision care devices, surgery devices, diagnostic & monitoring devices; application as vision care, ophthalmic wound care, cataract surgery, oculoplastics, others; end user as hospitals, diagnosis clinics, franchise optical stores, eye research institutes, government agencies, academics.

Some of the recent market developments are as follows:

  • In October 2018, HOYA Surgical Optics operating under the umbrella of HOYA Group announced that they had agreed to acquire Mid Labs and Fritz Ruck. Mid Labs is based out of California, United States providing innovative research, development, manufacturing and engineering of ophthalmic surgical devices. These devices prevent blindness in individuals that are caused due to various retinal disorders or any traumatic injuries. Fritz Ruck on the other hand is focused on distribution of ophthalmic machineries, instruments, devices and accessories out of Eschweiler, Germany. The combined acquisition will significantly improve the rate of expansion of HOYA Surgical Optics in the retinal market
  • In October 2017, Katena Products announced that they had purchased Rhein Medical Inc. which will improve the existing offerings of products relating to ophthalmic surgical instruments and devices with an enhanced focus on cataract, refractive, glaucoma, corneal and ocular surface surgical procedures

“According to Data Bridge Market Research, global ophthalmology devices market is growing at a steady CAGR of 4.4 during the forecast period of 2019 to 2026”

Some of the major players operating in the market are Essilor, Marco, Heidelberg Engineering GmbH., HAAG-STREIT GROUP, Johnson & Johnson Surgical Vision, Inc., HOYA Corporation., CIBA VISION, NIDEK CO., LTD., TOPCON CORPORATION, ZEISS International, Canon Inc., CooperVision, Bausch & Lomb Incorporated., STAAR SURGICAL, AcuFocus, Inc. and Ziemer Ophthalmic Systems among others.

The market is growing at a steady rate of growth due to increasing initiatives and awareness programs conducted by various governments/authorities, manufacturers and NGOs to reduce the burden of eye diseases and other ophthalmic disorders. The combination of these initiatives have resulted in various diagnostic check camps being organized at hot-spot locations throughout the world to accurately record the patients suffering from any diseases while also providing them with the correct course of action.