“The Ophthalmic Surgical Instruments Market is projected to grow at a CAGR of 6.0%”
The Global Ophthalmic Surgical Instruments Market is expected to reach USD 11.18 billion by 2022 from USD 8.36 billion in 2017, at a CAGR of 6.0%. The growth of this market is mainly attributed to the rising geriatric population across the globe, increasing incidence of eye diseases and diabetes, increasing government initiative to control visual impairment, and technological advancements. However, the high cost of ophthalmic surgical instruments and uncertainty in the reimbursement structure in the ophthalmology industry is expected to hinder the growth of this market.
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“The microinvasive glaucoma surgery (MIGS) devices segment is expected to grow at the fastest rate during the forecast period”
Based on glaucoma surgery devices type, the global ophthalmic surgical instruments market is segmented into glaucoma drainage devices, glaucoma laser systems, microinvasive glaucoma surgery devices, and glaucoma surgery instruments & kits. The microinvasive glaucoma surgery devices segment is expected to register the highest CAGR during the forecast period owing to the rising uptake of MIGS devices and instruments owing to its various benefits such as allow surgeons to perform surgery through a very small incision and also offer safety, efficacy & ease of use, increasing number of glaucoma patients, rapidly growing aging population, and the introduction of various new MIGS devices in this market.
“Hospitals segment continue to dominate the market during the forecast period.”
On the basis of end user, the ophthalmic surgical instruments market is segmented into hospitals, specialty clinics & ambulatory surgical centers (ASCs), and other end users. The hospitals segment accounted for the major share of the global ophthalmic surgical instruments market during the forecast period. The increasing prevalence of eye disorders across the globe coupled with a large patient pool treated at hospitals, high purchasing power of hospitals, and increasing number of hospitals in emerging economies are expected to drive the demand for advanced ophthalmic surgical instruments in this segment.
“APAC to witness the highest growth during the forecast period”
Geographically, the global ophthalmic surgical instruments market is broadly segmented into five major geographies, namely, North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East & Africa. In 2016, North America commanded a major share of the global ophthalmic surgical instruments market. However, APAC is expected to witness the highest growth during the forecast period. Growth in this market is driven by a number of factors, such as the rising geriatric population, growing medical tourism, increasing focus of prominent players on emerging Asian countries, increasing healthcare expenditure, and rising awareness on advance ophthalmic surgical devices.
Break of primary participants was as mentioned below:
• By Company Size – Tier 1–45%, Tier 2–29% and Tier 3–26%
• By Designation Level – C-level–35%, Director Level–25%, Others–40%
• By Region – North America–30%, Europe–26%, Asia-Pacific–22%, Latin America–13%, Middle East and Africa–9%
The prominent players in the ophthalmic surgical instruments market are Alcon (Switzerland), Carl Zeiss Meditec (Germany), Johnson & Johnson Vision Care (US), Hoya Corporation (Japan), Bausch + Lomb (US), NIDEK (Japan), Topcon Corporation (Japan), Ellex Medical Lasers (Australia), IRIDEXCorporation (US), Lumenis (Israel), STAAR Surgical Company (US), and Ziemer Ophthalmic Systems (Switzerland).
Research Coverage:
The report analyzes the various types of ophthalmic surgical instruments in the market and their adoption patterns. It aims at estimating the market size and future growth potential of the ophthalmic surgical instruments market for different segments such as product, end user, and region. The report also includes an in-depth competitive analysis of the key players in this market along with their company profiles, recent developments, SWOT analysis, and market strategies.
Reasons to Buy the Report:
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) to enhance their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the ophthalmic surgical instruments market. The report analyzes the market by products and end users across all regions
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and new product launches in the ophthalmic surgical instruments market
• Market Development: Comprehensive information about the lucrative emerging markets by product, end user, and region
• Market Diversification: Exhaustive information about new products, growing regions, recent developments, and investments in the ophthalmic surgical instruments market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, distribution networks, and manufacturing capabilities of the leading players in the ophthalmic surgical instruments market
Related Report:
Ophthalmic Equipment Market by Product (Optical Coherence Tomography (OCT) Fundus Camera Ultrasound Ophthalmoscope Phoropter Slit Lamp Perimeter Keratometer Tonometer IOL Femtosecond Laser Surgical Microscope Contact Lenses) - Global Forecasts
The ophthalmic equipment market is expected to reach USD 58.44 billion by 2023 from USD 49.30 billion in 2018, at a CAGR of 3.5%. The growth of this market is primarily due to the rapid growth in the geriatric population, rising prevalence of eye diseases, technological advancements in ophthalmic devices, increasing government initiatives to control visual impairment, and increasing adoption of contact lenses and spectacles. However, the high cost of ophthalmology devices and increasing adoption of refurbished ophthalmic devices is expected to hinder the growth of this market up to a certain extent.
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