New York, NY -- (SBWIRE) -- 01/21/2021 -- Ophthalmic Devices Market

The demand for advanced and improved surgical and diagnostic instruments is increasing, and this demand is presumed to boost ophthalmic devices market's growth. Additionally, factors such as increasing geriatric population, with individuals who require additional health care and attention, is projected to drive market growth even in the coming years. The Global Ophthalmic Devices Market is forecast to reach USD 65.60 Billion by 2027, according to a new report by Reports and Data.

Rising prevalence of eye diseases, including cataract, glaucoma, diabetic retinopathy, and macular degeneration is boosting demand for advanced ophthalmic care and devices. Such demand for devices is expected to propel the growth of the global ophthalmic devices market.

Furthermore, recent advancements in the devices and technologies, such as ultrasound phacoemulsification, multi-wavelength diabetic retinopathy treatment, and femtosecond laser surgery, are witnessing a surge in adoption. Additionally, faster recovery rates, coupled with increased acceptance of refractive surgeries, are boosting the growth of the global ophthalmic devices market.

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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Ophthalmic Devices market and profiled in the report are:

Bausch + Lomb, Johnson & Johnson, Alcon, Topcon, Carl Zeiss Meditec, Essilor, Nidek, Haag-Streit, Ziemer Ophthalmic Systems, and Staar Surgical, among others.

The report covers the assessment of the historical data of the market to offer key insights into the current and emerging trends in the business sphere. The report considers 2017-2018 as historical years, 2019 as the base year, and 2021-2027 as forecast years. The report also discusses in detail the mergers and acquisitions, collaborations, joint ventures, product launches, brand promotions, corporate and government deals, and partnerships occurring in the market.

The report further segments the market on the basis of product types and application spectrum offered by the market.

Devices Outlook (Revenue, USD Billion; 2016-2027)

Surgical Device
Diagnostic and Monitoring Device
Vision Care

Type of Disorders Outlook (Revenue, USD Billion; 2016-2027)

Glaucoma
Cataract
Vitreo Retinal Disorder
Refractor Disorders
Others

End-Users Outlook (Revenue, USD Billion; 2016-2027)

Hospitals
Consumers
Specialty Clinics
Ambulatory Surgical Centers

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Regional Analysis

Regionally, North America dominated the global ophthalmic devices market by holding a substantial market share over the forecast period. This growth is attributed to factors such as high awareness about health coupled with increasing geriatric population. Due to unhealthy lifestyles, the prevalence of diabetes has increased occurrence of eye diseases globally, which is driving the growth of the global ophthalmic devices market. However, Asia Pacific region is projected to expand at a robust CAGR during the forecast period owing to the increase in investment for the adoption of advanced healthcare in the region.

TOC -
Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Market Segmentation & Impact Analysis

Continued……….

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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter's Five Forces analysis to offer a better understanding of the Ophthalmic Devices market and its competitive landscape.

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