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Patient Demography and Geographic Shift Influences Growth of Ophthalmology Devices Market

May 5 2014

Research and Markets has announced the addition of the "Ophthalmology Devices Market 2014-2018: OCT Scanner, Fundus Camera, Tonometer, Pachymeter, Perimeter, Slit Lamp, Excimer, YAG Laser, Femtosecond Laser, IOL, Contact Lens" report to their offering.

The prominent players in the market are Alcon Inc. (Switzerland), Abbott Medical Optics (U.S.), Bausch & Lomb Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Haag Streit (Switzerland), Topcon Corporation (Japan), Johnson & Johnson (U.S.), Essilor International S.A. (France), Nidek Co. Ltd (Japan), and Ziemer Ophthalmic Systems AG (Switzerland).

The ophthalmology devices market has witnessed considerable growth in the past decade due to the patient demography and geographic shift. The market is segmented into three major segments, namely, diagnostic and monitoring devices, surgical devices, and vision care products. The diagnostic and monitoring devices include optical coherence tomography (OCT) scanners, ophthalmic ultrasound imaging systems, fundus cameras, ophthalmoscopes, retinoscopes, wavefront aberrometers, corneal topographers, autorefractors, pachymeters, keratometers, specular microscopes, biometers, perimeters, tonometers, slit lamps, and other devices.

The surgical devices segment is inclusive of cataract, glaucoma, refractive and vitreoretinal surgery devices. Each of these segments comprises of several devices used for respective surgical purposes. The vision care segment includes spectacles and contact lenses. The total market is further segmented into four major geographies as North America, Europe, Asia-Pacific, and Rest of the World (RoW). These regions are further studied at country level.

The market is propelled by an increase in aging population which boosts the prevalence of eye diseases amongst the people. The latest advancements in ophthalmology devices like mydriatic and non mydriatic fundus cameras, phocoemulsification devices, femtosecond lasers to name a few have given a thrust to the demand for ophthalmology devices across the globe. However, economic slowdown due to eurozone crisis has led to delayed payments by hospitals to ophthalmology device manufacturers which has adversely affected the manufacturers. Moreover, the U.S. medical device industry has been adversely affected by reimbursement issues, thus hampering the growth of the market.

North America contributes the largest share to market followed by Europe, Asia-Pacific, and Rest of the World. Developed regions like North America and Europe are expected to grow at a lower CAGR due to saturation in these regions. The APAC region is expected to grow at the fastest pace during the forecast period from 2013 to 2018 owing to a rapid growth in the developing healthcare industry in China and India.

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