, May 01, 2018 ) Ophthalmic devices are medical devices utilized in identity and treatment of ocular defects and eye issues. The increasing occurrence of eye disorders and imaginative and prescient loss are pushing the demand for ophthalmic devices worldwide. Ophthalmology is a branch of medical sciences that deals with the shape, characteristics, and numerous eye illnesses. The ophthalmic devices are a scientific device designed for prognosis, surgical, and vision correction purposes. These devices gain extended significance and adoption due to the high occurrence of various ophthalmic diseases inclusive of glaucoma, cataract, and different vision associated problems.
The ophthalmology field requires medical devices for numerous functions which include analysis, imaginative and prescient care, and surgery. The development of modern devices and growing software technology in ophthalmology has paved way for customers to have realistic and affordable solutions for numerous eye-related disorders together with vitreoretinal disorders, refractor disorders, and cataract.
According to WHO, an expected 253 million humans live with prescient impairment issues, out of which 36 million are blind and 217 million have moderate to extreme vision impairment. Cataract is responsible for 48% of the population turning into absolutely blind. Further, extra than 60 million human beings suffer from glaucoma and this wide variety is predicted to attain 80 million by using 2020. Increasing old population is also ensuing in more human beings tormented by refractive errors.
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North America Ophthalmic devices market was worth $ 11.26 billion in 2016 and anticipated to be developing at a CAGR of 5.8 %, to reach $ 14.93 billion by 2021.
Drivers and Restraints:
One of the primary factors of the upward trend in the ophthalmic device's market is the growing geriatric population. It is discovered that the elderly are extra at risk of developing eye-associated issues, rising frequency of normal existence related diseases, developing relevance of era in ophthalmology, consisting of glaucoma and dry eye, and are the target customers of ophthalmic device producers.
However, an excessive cost of a few gadgets, in particular, the ones which might be exported. Additionally, the shortage of skilled experts, especially in the rural regions of rising economies, is another high problem for manufacturers are hampering the market growth.
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Based on North America geography the market is segmented into numerous areas specifically US and Canada. Among North American international locations in 2011, the U.S. held the largest share of the market for ophthalmic devices across all segments. The western country markets are experiencing rigorous competition due to mushrooming local manufacturers at the same time as outstanding gamers with better marketplace penetration levels, who are focusing extra on gadgets with diagnosis and surgical operation applications.
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The key players of the market include Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG.
Scope of the report
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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