The market is projected to reach USD 58.44 Billion by 2023 from USD 49.30 Billion in 2018, at a CAGR of 3.5%.
Northbrook, IL -- (SBWIRE) -- 05/09/2018 -- According to a new market research report "Ophthalmic Equipment Market (Optical Coherence Tomography (OCT), Fundus Camera, Ultrasound, Ophthalmoscope, Phoropter, Slit Lamp, Perimeter, Keratometer, Tonometer, IOL, Femtosecond Laser, Surgical Microscope, Contact Lenses) - Global Forecasts to 2023", published by MarketsandMarkets™, the market is projected to reach USD 58.44 Billion by 2023 from USD 49.30 Billion in 2018, at a CAGR of 3.5%.
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Growth in this market is attributed to the growing number of people with eye diseases, technological advancement in ophthalmic equipment, and the rising adoption of contact lenses and spectacles across the globe.
The optical coherence tomography (OCT) scanners segment to dominate the ophthalmology diagnostic and monitoring devices market during the forecast period
Based on diagnostic and monitoring devices type, the ophthalmic equipment market is segmented into optical coherence tomography (OCT) scanners, ophthalmic ultrasound imaging systems, fundus cameras, ophthalmoscopes, retinoscopes, wavefront aberrometers, corneal topography systems, autorefractors and keratometers, phoropters, specular microscopes, perimeter/visual field analyzers, tonometers, slit lamps, lensmeters, optical biometry systems, and chart projectors. The OCT scanners segment accounted for the major share of the ophthalmology diagnostic and monitoring devices market and this segment is expected to register the highest growth during the forecast period. The large share and high growth of this segment can primarily be attributed to the rising geriatric population and the subsequent increase in the prevalence of ocular diseases and increasing number of research and development activities in this field.
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The glaucoma surgical devices segment to witness the highest growth rate during the forecast period
On the basis of ophthalmology surgical devices type, the ophthalmic equipment market is segmented into cataract surgical devices, glaucoma surgical devices, refractive surgical devices, vitreoretinal surgical devices, ophthalmic microscopes, and accessories. The cataract surgical devices segment accounted for the major share of the ophthalmology surgical devices market. The large share of this segment is majorly attributed to the growing number of eye disorders in the geriatric population. The glaucoma surgical devices segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the rising prevalence of glaucoma across the globe coupled with the availability of technologically advanced microinvasive glaucoma surgeries.
The spectacles segment dominated the vision care products market in 2017
On the basis of type, the vision care products market is segmented into spectacles and contact lenses. In 2017, the spectacles segment accounted for the major share of the vision care products market. The large share of this segment can be attributed to their higher adoption for vision correction as well as innovations in eyeglasses.
North America dominated the market in 2017
North America accounted for the largest share of the ophthalmic equipment market in 2017, followed by Europe. The large share of this region is attributed to the presence of developed healthcare systems in the US & Canada, increasing number of eye disorders along with rising aging population, and availability of technologically advanced ophthalmic devices.
The prominent players in the ophthalmic equipment market are Essilor (France), Alcon (Switzerland), Johnson & Johnson Vision Care (US), Bausch + Lomb (US), Haag-Streit (Switzerland), TOPCON (Japan), Carl Zeiss Meditec (Germany), NIDEK (Japan), STAAR Surgical (US), HOYA (Japan), and Ziemer Ophthalmic Systems (Switzerland)
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