Portland, OR -- (SBWIRE) -- 08/21/2017 -- Ophthalmology Devices deals with the physiology and diseases of eyes. Ophthalmic devices cover wide range of design types such as glasses, contact lenses, implants, surgical instruments and many others. These devices found applications in diagnosis of eye related diseases such as eyelid abnormalities, retinal disease, cataract, haloes, distorted vision. In recent years, need for ophthalmic devices have increased three-fold due to increases in eye related disorders. For instance, in U.S. around 24.4 million people suffered from cataract in 2015. Each year around 2.4 million eye injuries are reported in U.S. These incidences have also raised the demand for ophthalmologists and in 2015, number of ophthalmologists were found to be 19,216 in U.S. and 213,459 worldwide.

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Factors driving the growth of the market are rising ageing population, high prevalence of eye injuries in people from 18-45 age and technological advancement. Moreover, presence of well-established distribution channels, rising awareness and adoption of ophthalmological devices are fuelling the growth of the market. However, lack of healthcare insurance, poor primary healthcare infrastructure and uncertain reimbursement policies are restraining the growth of the market. In addition, rise in emerging economies provide avenues to opportunities for growth of the market.

The report segments the market by product type, end user, diseases and geography. On the basis of product type, market is segmented to surgical, diagnostics, monitoring and vision care devices. By end user, the market is further segmented to healthcare service providers, medical institutes, hospitals and research institutions. In terms of diseases, market is further segmented to cataract, glaucoma, refractor disorders and vitero retinal disorders. Geographically, the market is analysed in North America, Europe, Asia-Pacific and LAMEA.

Healthcare giants are undergoing partnerships, launches, collaborations, acquisitions for the development of the ophthalmology market. VisionCare Ophthalmic Technologies, Inc., entered into partnership in 2016 with BrightFocus Foundation to enhance research in advanced age-related macular degeneration (AMD). Moreover, Alcon Global, a division of Novartis have launched Dailies Total1 multifocal contact lenses in 2016. These developments by market giants are building competitive edge among key market players.

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Some of the key players of ophthalmology market are VisionCare Ophthalmic Technologies, Inc., Alcon Inc., Abbott Medical Optics Inc., Essilor International S.A., Johnson & Johnson, Bausch & Lomb, Inc., Nidek Co. Ltd., Ziemer Ophthalmic Systems AG, Haag-Streit AG and Topcon Corporation.