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Global Ophthalmology Devices Market at a CAGR of 4.4% Growth, Trends and Absolute Opportunity up to 2026

Global Ophthalmology Devices Market, By Product Type (Vision Care Devices, Surgery Devices and Diagnostic and Monitoring Devices), Application (Vision Care, Ophthalmic Wound care, Cataract Surgery, Oculoplastics and Others), End User (Hospitals, Diagnosis Clinics, Franchise Optical Stores, Eye Research Institutes, Government Agencies and Academics)

Ophthalmology is the study of the eye and its various conditions; it is a branch of medicine that deals with the treatment, cure and diagnosis of various diseases of the eye and visual mechanism. The term ophthalmology originated from the Greek words ophthalmos which means “eye” and logos which means “word.” This means the “science of eyes.” The human eye can be affected by various clinical conditions like: Age-related macular degeneration, cataract, diabetic retinopathy, glaucoma and astigmatism.

 

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The ophthalmoscope was introduced in the 19th century which bought along a period of deep knowledge of the eye and treatment of various eye related diseases that was not possible before. Later, throughout the 20th century, investigation in the field of ophthalmology kept growing and several subspecialties were introduced. In 1805, Moorfields Eye Hospital became the first hospital that was dedicated to ophthalmic opened in London.

Global Ophthalmology Devices Market is expected to register a healthy CAGR of 4.4% in the forecast period of 2019 to 2026.

Segmentation: Global Ophthalmology Devices Market

Global ophthalmology devices market is segmented into three notable segments such as product type, application and end-user.

  • On the basis of product type, the market is segmented into diagnostic and monitoring devices, surgery devices and vision care devices. The diagnostic and monitoring devices segment is sub- segmented into optical coherence therapy, ophthalmology ultrasound imaging system, fundus cameras, ophthalmoscopes, retinoscopes, wavefront abberrometers, corneal topography, autorefractors, keratometers, specular microscopes, visual field analyzers, tonometers and slit lamps. The ophthalmology ultrasound imaging system is further sub-sub- segmented into A-scan biometers, B-scan ultrasounds, UBM ultrasounds and pachymeters. The surgery devices segment is sub segmented into cataract surgery devices, glaucoma surgery devices, refractive surgery devices and vitreoretinal surgery devices. The cataract surgery devices segment is sub-sub segmented into intraocular lenses, ophthalmic viscoelasticity devices, phacoemulsification devices and retinoscopes. The glaucoma surgery devices segment is further sub-sub-segmented into glaucoma drainage devices, stents and implants and lasers. The refractive surgery devices segment is sub-sub-segmented into excimer lasers, microkeratomes and femtosecond lasers. The vitreoretinal surgery devices segment is further sub-sub-segmented into vitrectomy machines and packs, photocoagulation lasers, illumination devices and vetrioretinal accessories. In 2019, vision care devices segment is growing at the highest CAGR in the forecast period of 2019 to 2026.
    • In October 2018, HOYA surgical optics to acquire two ophthalmic medical Device companies: mid labs and fritz ruck. The acquisition will expand HOYA Surgical Optics’ technology portfolio in surgical ophthalmology to encompass a very attractive and competitive offering within cataract surgery.
  • On the basis of application, the market is segmented into cataract surgery, vision care, ophthalmic wound care, oculoplastics and others. In 2019, Vision Care segment is growing at a highest CAGR in the forecast period of 2019 to 2026.
    • In September 2017, Marco launched the Ultra M Series slit lamps, LM-7 Lens meter Series, and TS-310 Tabletop Refractive Workstation at VEW 2017. This helped Marco expand its product portfolio and penetrate deeper into the market.
  • On the basis of end user, the market is segmented into hospitals, academics, eye research institutes, research laboratories, diagnosis clinics, franchise optical stores and government agencies. In 2019, Hospitals segment is growing at the highest CAGR in the forecast period of 2019 to 2026.
    • In November 2018, Haag-Streit and Berkeley School of Optometry Announced New Partnership. This helped students to be trained on the best medical and diagnostic equipment from the start and will give a new customer base to Haag-Streit.

 

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Competitive Analysis: Global Ophthalmology Devices Market

Some of the major players operating in this market Essilor,  Marco, Heidelberg Engineering GmbH.,  HAAG-STREIT GROUP, Johnson & Johnson Surgical Vision, Inc., HOYA Corporation., CIBA VISION, NIDEK CO., LTD., TOPCON CORPORATION, ZEISS International, Canon Inc., CooperVision, Bausch & Lomb Incorporated., STAAR SURGICAL, AcuFocus, Inc., Ziemer Ophthalmic Systems among others.

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