Boston, MA -- (ReleaseWire) -- 05/09/2014 -- Ophthalmology Devices Market (Optical Coherence Tomography (OCT) Scanner, Fundus Camera, Tonometer, Pachymeter, Perimeter, Slit Lamp, Excimer, YAG Laser, Femtosecond Laser, IOL, Contact Lens) - Competitive Landscape & Global Forecasts to 2018
The global ophthalmology devices market witnessed a dip during the economic downturn in 2008 and 2009; however, it is poised to grow at a stable rate mainly due to an increasing aging population, large pool of patients with eye diseases, changing demographics and geographical trends, and a favorable reimbursement scenario for diagnostic devices in major developed economies. Moreover, incidences of glaucoma and cataract are increasing every year. However, market growth will be inhibited by economic slowdown in the U.S. and Europe, and saturating developed markets. Asian countries like China and India and other developing nations are still naive and pose a great opportunity for companies to invest and grow at double-digit growth rates.
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The ophthalmology devices market consists of surgical devices which are used in cases of cataract, glaucoma, refractive errors, and vitreoretinal disorders; diagnostic and monitoring devices; and vision care products. The ophthalmic diagnostic and monitoring devices studied in this report primarily focuses on the devices used to diagnose disorders associated with the retina (posterior segment) and the cornea (anterior segment). These devices measure refractive errors, affix lenses, identify the power of IOLs, and analyze the visual field, amongst others.
The geographies covered in this study are North America, Europe, Asia-Pacific (APAC) and Rest of the world (RoW). North America is the largest market for ophthalmology devices, followed by Europe and Asia. North America and Europe is expected to grow at a slower pace, primarily due to the economic slowdown and saturation in these markets. APAC is an unsaturated market, especially China and India, and these regions are expected to drive the growth of the overall ophthalmology market, mainly due to growing awareness of eye diseases and increasing disposable income.
The prominent players in the market are Alcon Inc. (Switzerland), Abbott Medical Optics (U.S.), Bausch & Lomb Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Haag Streit (Switzerland), Topcon Corporation (Japan), Johnson & Johnson (U.S.), Essilor International S.A. (France), Nidek Co. Ltd (Japan), and Ziemer Ophthalmic Systems AG (Switzerland).
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