Ophthalmic Equipment Market Overviews and Introduction

Ophthalmology is a division of medicine that involves diagnosis, prevention and treatment of ailments of the eye and visual system. The eye along with its adjacent parts and the entire visual system can be afflicted by several clinical conditions. The medical devices and equipment that is used in the treatment, diagnosis and prevention of these ailments is known as ophthalmic equipment. Ophthalmic equipment encompasses several equipment’s and devices which are used not only to treat the above mentioned factors but also to improve eyesight.

The growth of this market is primarily propelled by growing geriatric population and their accompanying ophthalmic ailments, technological advancements in ophthalmic equipment’s, steady increase in government initiatives with respect to treating and controlling visual impairment, and intensifying adoption of contact lenses and spectacles. The dearth of awareness and lack of easy access to eye care products in low-income economies coupled with the high cost of ophthalmic equipment’s and devices is expected to impede the global ophthalmic equipment market.

Ophthalmic Equipment Market by Product

On the basis of product the market is segmented into diagnostic and monitoring devices, cataract surgical devices, glaucoma surgical devices, refractive surgical devices, vitreoretinal surgical devices, ophthalmic microscopes, ophthalmic accessories, & vision care products. The segment of vision care products enjoyed the largest share of this market. Increasing occurrence of various eye disorders such as astigmatism, myopia, hyperopia, and presbyopia have boosted the market growth of this segment.

Ophthalmic Equipment Market by Usage

On the basis of usage the market is segmented into reusable instruments & disposable instruments. The disposable segment is expected to grow at a substantial CAGR during the forecast period owing to factors such as ability to diminish hospital-associated infections, enhanced focus on safe patient outcomes, and reduced burden of workflow owing to non-requirement of sterilization process.

Ophthalmic Equipment Market by End Use

On the basis of end user the market has been segmented into hospitals, specialty clinics, ambulatory surgical centers (ascs), consumers & other end users. The consumers sub segment is expected to hold the largest share of the ophthalmic equipment market. The growth of this sub segment has been augmented by factors such as growing popularity and adoption of contact lenses and specs along with growing incidence of ocular ailments.

Ophthalmic Equipment Market by Region

On the basis of region, the global ophthalmic equipment market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America along with Europe are expected to dominate the global ophthalmic equipment market. Growth in these regions is boosted by robust reimbursement policies, growing awareness regarding early detection of ophthalmic ailments and technological advancements. Asia pacific region is expected to grow at the highest CAGR propelled by the presence of skilled ophthalmologists, increasing number of cataract cases & demand for technologically advanced ophthalmic equipment.

Ophthalmic Equipment Market Prominent Players

The prominent players in the global ophthalmic equipment market are, Essilor, Alcon (Novartis AG), Johnson & Johnson, Bausch Health, Haag-Streit Group, TOPCON CORPORATION, Carl Zeiss, Meditec AG, STAAR Surgical Company, Ziemer Ophthalmic Systems & HOYA Corporation among others.