Ophthalmic Devices Market, by Product Type (Vision Care Devices (Spectacles and Contact Lenses), Surgery Devices (Cataract Surgery Devices, Refractive Surgery Devices, Vitreoretinal Surgery Devices, and Glaucoma Surgery Devices), and Diagnostic and Monitoring Devices (Fundus Camera, Optical Coherence Tomography Scanner, Retinoscope, Tonometer, Pachymeter, Optical Biometer, Autorefractor, and Others)), by End User (Hospitals, Ophthalmic Clinics and Centers, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

  • Published On : Dec 2018 |
  • Pages : 185 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Ophthalmic Devices Market - Insights

Ophthalmic devices are medical devices used to treat and identify certain ocular deformities and deficiencies of the eyes. The growth of ophthalmic devices market is driven by increasing incidence of eye disorders such as glaucoma, diabetic retinopathy, macular degeneration, cataract, among others. Ophthalmic devices are also used in various surgical processes such as ultrasound phacoemulsification for fast recovery rates and improved safety. Ophthalmic devices ranging from high complexity devices such as phoropters, ophthalmoscopes, retinoscopes, and scanning laser polarimetry devices to low end products such as contact lenses, spectacles, and lens cleaning and disinfecting solutions are available in the market. Therefore, demand for ophthalmic devices is expected to significantly increase over the forecast period.

Vision care device segment accounted for highest share in the ophthalmic devices market in 2017, owing to increasing demand for vision care devices such as contact lens and spectacles. Furthermore, increasing prevalence of eye disorders and growing awareness among the populace regarding eye health and safety are expected to propel growth of the vision care device segment. According to World Health Organization (WHO): October 2018, around 1.3 billion people worldwide suffer from some form of vision impairment, annually. According to the same source, uncorrected refractive errors and cataracts are the leading cause of vision impairment worldwide. Therefore, increasing number of eye related disorders propel demand for vision care devices, which in turn propels growth of the ophthalmic devices market. Moreover, increasing prevalence of various eye diseases such as cataract and glaucoma is expected to boost growth of the surgical devices segment.

The Global Ophthalmic Devices Market is estimated to be valued at US$ 48,726.0 million in 2018 and is expected to witness a CAGR of 4.3% over the forecast period (2018–2026).

        
Global Ophthalmic Devices Market Share, By Product Type: 2018 & 2026  

Ophthalmic Devices  | Coherent Market Insights                       

Source: Coherent Market Insights Analysis (2018)

Increasing Incidence of Eye Disorders is expected to Augment the Market Growth

Increasing prevalence of eye disorders such as glaucoma, diabetic retinopathy, macular degeneration, and cataract is expected to drive growth of the ophthalmic devices market. For instance, according to the International Journal of Advanced Medical and Health Research: 2015, cataract is a major cause of blindness and affects 17-18 million people worldwide, accounting for 39% of such cases, among overall blindness cases. Following cataract, glaucoma is the second major cause of blindness worldwide.

According to the BrightFocus Foundation, June 2017 data findings, in 2017; over 3 million Americans  suffer from glaucoma, of which 2.7 million - aged 40 and older - are affected by its most common form, open-angle glaucoma. Such high numbers are attributed to increasing prevalence of eye disorder in geriatric population and changing food habits leading to nutritional deficiency in younger population.

Although glaucoma may occur in people with or without diabetes, those with diabetic retinopathy have an increased risk of glaucoma. The condition is associated with abnormal blood vessel growth, which can result in retinopathy to eventually block natural drainage of the eye. According to the International Diabetes Foundation (IDF) 2017 statistics, prevalence of diabetes is high among people aged between 20 to 79 years worldwide, of which Africa (156%) accounted for the highest diabetic population, followed by Middle East (110%), South East Asia (84%), Latin and Central America (62%), North America (35%), Europe (16%), and Western Pacific (15%).  


Global Ophthalmic Devices Market Share, By End User: 2018 & 2026

Ophthalmic Devices  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2018)

Increasing Adoption of Refurbished Ophthalmic Devices is Expected to Hinder the Market Growth

Among ophthalmic devices segment, ophthalmic imaging devices in the refurbished form witness increasing demand due to low production & material cost. However, this adversely affects the sales of manufacturer build or OEM build ophthalmic devices.     

For instance, according to the Refurbishment of Medical Equipment Report on promising Key Enabling Technologies (KETs)-based product, published by European Commission in August 2017, refurbished diagnostic imaging equipment accounted for 75.5% of the global demand for refurbished medical devices, in 2015.

Refurbished medical devices specifically include, diagnostic imaging devices that create visual representations of internal organs of the body to help in medical intervention and clinical analysis. Generally, damaged or unused component are replaced with newer and updated components in the production of refurbished medical devices. Hardware or software may also be upgraded, followed by extensive testing, quality assurance, and (as required) re-submission for regulatory approval. Furthermore, high cost of new ophthalmic devices has led to increasing adoption of refurbished counterparts. 

Among region, Asia Pacific is expected to be lucrative market for growth of the global ophthalmic devices market. This is owing to growing healthcare infrastructure, high prevalence of eye diseases, and increasing engagement of government bodies in preventing the cataract and blindness cases among the population. For instance, according to the data published by the Indian Journal of Ophthalmic in September 2018, cataract is responsible for 50–80% of bilateral blindness in India. Moreover, government initiatives such as the National Program for Control of Blindness (NPCB) and Vision 2020 are aimed at eliminating preventable blindness at the national level. Moreover, emerging economies such as China, India, and Japan are expected to witness significant growth in the market, owing to increasing investments by manufacturers in the region. Therefore, these factors are expected to increase adoption of ophthalmic devices in Asia Pacific.

Key players operating in the global ophthalmic devices market include, Carl Zeiss Meditec Group, Escalon Medical Corp., Haag-Streit AG, Heidelberg Engineering GmbH, Heine Optotechnik GmbH & Co. KG, Essilor International S.A., NIDEK CO., LTD., Quantel Medical SAS, Luneau Technology Group, and Topcon Corporation.

Ophthalmic devices include vision care products and surgery devices for the diagnosis and treatment of eye diseases. Risk of eye related diseases or retinal disorders such as vision defects (refraction), cataracts, and glaucoma, increase with age and can be chronic in several cases. Increasing prevalence of eye related disorders such as cataract, glaucoma, and blindness is expected to drive growth of the ophthalmic devices market. For instance, according to The International Agency for the Prevention of Blindness (IAPB), in 2015; 253 million people were blind or vision impaired, worldwide.  

Moreover, increasing prevalence of eye disorders in geriatric population and changing food habits leading to nutritional deficits in younger population are resulting in increasing adoption of ophthalmic devices. For instance, according to the International Journal of Advanced Medical and Health Research 2015, cataract is a major cause of blindness, affecting 17-18 million people worldwide, accounting for 39% of such cases.

Technological advancements in ophthalmic devices and increasing initiatives by government  and healthcare regulatory bodies to ensure establishment of sophisticated healthcare infrastructure and better eye safety and vision care is are expected to propel growth of the ophthalmic devices market. American Academy of Ophthalmology: a global association of eye physicians and surgeons, each month; engaged in raising awareness regarding eye health among the global population.                           

Market Dynamics

Governments in emerging economies are focused on establishing sophisticated healthcare infrastructure and eye care centers. This is owing to increasing demand for treatment related to eye disorders such as cataract, glaucoma, and macular degeneration. This is turn is expected to boost growth of the global ophthalmic devices market.

For instance, Directorate General of Health Services: Government of India launched a National Program for Control of Blindness and Visual Impairment (NPCB&VI) in 1976 with the goal of reducing the prevalence of blindness to 0.3% by 2020. A current survey in progress (2015-18) shows projected rate of prevalence of blindness is 0.45%. Government of India is focused on lowering this rate to 0.3% by 2020.

In February 1999, the World Health Organization (WHO), together with over 20 international non-governmental organizations involved in eye care and prevention and management of blindness, launched VISION 2020, a global initiative that aims to eliminate avoidable blindness by 2020.     

Key features of the study:

  • This report provides in-depth analysis of ophthalmic devices market, its market size (US$ Million) and Compound Annual Growth Rate (CAGR %) for the forecast period (2019 – 2026), considering 2018, as the base year.
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the global ophthalmic devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies.
  • Key companies covered as a part of this study include, Carl Zeiss Meditec Group, Escalon Medical Corp., Haag-Streit AG, Heidelberg Engineering GmbH, Heine Optotechnik GmbH & Co. KG, Essilor International S.A., NIDEK CO., LTD., Quantel Medical SAS, Luneau Technology Group, and Topcon Corporation.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future type up-gradation, market expansion, and marketing tactics.
  • The global ophthalmic devices market report caters to various stakeholders in this industry including investors, researchers, ophthalmic devices manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the ophthalmic devices market.

Detailed Segmentation:

  • Global Ophthalmic Devices Market, By Product Type:
    • Vision Care Devices
      • Spectacles
      • Contact Lenses
    • Surgery Devices
      • Cataract Surgery Devices
      • Refractive Surgery Devices
      • Vitreoretinal Surgery Devices
      • Glaucoma Surgery Devices
    • Diagnostic and Monitoring Devices
      • Fundus Camera
      • Optical Coherence Tomography Scanner
      • Retinoscope
      • Tonometer
      • Pachymeter
      • Optical Biometer
      • Autorefractor
      • Others
  • Global Ophthalmic Devices Market, By End User:
    • Hospitals
    • Ophthalmic Clinics and Centers 
    • Ambulatory Surgical Centers
  • Global Ophthalmic Devices Market, By Geography:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Product Type:
        • Vision Care Devices
          • Spectacles
          • Contact Lenses
        • Surgery Devices
          • Cataract Surgery Devices
          • Refractive Surgery Devices
          • Vitreoretinal Surgery Devices
          • Glaucoma Surgery Devices
        • Diagnostic and Monitoring Devices
          • Fundus Camera
          • Optical Coherence Tomography Scanner
          • Retinoscope
          • Tonometer
          • Pachymeter
          • Optical Biometer
          • Autorefractor
          • Others
      • By End User:
        • Hospitals
        • Ophthalmic Clinics and Centers 
        • Ambulatory Surgical Centers
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Product Type:
        • Vision Care Devices
          • Spectacles
          • Contact Lenses
        • Surgery Devices
          • Cataract Surgery Devices
          • Refractive Surgery Devices
          • Vitreoretinal Surgery Devices
          • Glaucoma Surgery Devices
        • Diagnostic and Monitoring Devices
          • Fundus Camera
          • Optical Coherence Tomography Scanner
          • Retinoscope
          • Tonometer
          • Pachymeter
          • Optical Biometer
          • Autorefractor
          • Others
      • By End User:
        • Hospitals
        • Ophthalmic Clinics and Centers 
        • Ambulatory Surgical Centers
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
      • By Product Type:
        • Vision Care Devices
          • Spectacles
          • Contact Lenses
        • Surgery Devices
          • Cataract Surgery Devices
          • Refractive Surgery Devices
          • Vitreoretinal Surgery Devices
          • Glaucoma Surgery Devices
        • Diagnostic and Monitoring Devices
          • Fundus Camera
          • Optical Coherence Tomography Scanner
          • Retinoscope
          • Tonometer
          • Pachymeter
          • Optical Biometer
          • Autorefractor
          • Others
      • By End User:
        • Hospitals
        • Ophthalmic Clinics and Centers 
        • Ambulatory Surgical Centers
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Product Type:
        • Vision Care Devices
          • Spectacles
          • Contact Lenses
        • Surgery Devices
          • Cataract Surgery Devices
          • Refractive Surgery Devices
          • Vitreoretinal Surgery Devices
          • Glaucoma Surgery Devices
        • Diagnostic and Monitoring Devices
          • Fundus Camera
          • Optical Coherence Tomography Scanner
          • Retinoscope
          • Tonometer
          • Pachymeter
          • Optical Biometer
          • Autorefractor
          • Others
      • By End User:
        • Hospitals
        • Ophthalmic Clinics and Centers 
        • Ambulatory Surgical Centers
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Product Type:
        • Vision Care Devices
          • Spectacles
          • Contact Lenses
        • Surgery Devices
          • Cataract Surgery Devices
          • Refractive Surgery Devices
          • Vitreoretinal Surgery Devices
          • Glaucoma Surgery Devices
        • Diagnostic and Monitoring Devices
          • Fundus Camera
          • Optical Coherence Tomography Scanner
          • Retinoscope
          • Tonometer
          • Pachymeter
          • Optical Biometer
          • Autorefractor
          • Others
      • By End User:
        • Hospitals
        • Ophthalmic Clinics and Centers 
        • Ambulatory Surgical Centers
    • Africa
      • By Country:
        • North Africa
        • Central Africa
        • South Africa
      • By Product Type:
        • Vision Care Devices
          • Spectacles
          • Contact Lenses
        • Surgery Devices
          • Cataract Surgery Devices
          • Refractive Surgery Devices
          • Vitreoretinal Surgery Devices
          • Glaucoma Surgery Devices
        • Diagnostic and Monitoring Devices
          • Fundus Camera
          • Optical Coherence Tomography Scanner
          • Retinoscope
          • Tonometer
          • Pachymeter
          • Optical Biometer
          • Autorefractor
          • Others
      • By End User:
        • Hospitals
        • Ophthalmic Clinics and Centers 
        • Ambulatory Surgical Centers
  • Company Profiles
    •  Carl Zeiss Meditec Group*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Escalon Medical Corp.
    • Haag-Streit AG
    • Heidelberg Engineering GmbH
    • Heine Optotechnik GmbH & Co. KG
    • Essilor International S.A.
    • NIDEK CO., LTD.
    • Quantel Medical SAS
    • Luneau Technology Group
    • Topcon Corporation

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Type
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Impact Analysis
      • Market Trends
      • Epidemiology
      • Key Developments
      • Strategic Acquisitions & Collaborations
      • Regulatory Scenario 
  4. Global Ophthalmic Devices Market, By Product Type, 2016 - 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Vision Care Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Spectacles
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Contact Lenses
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
    • Surgery Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Cataract Surgery Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Refractive Surgery Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Vitreoretinal Surgery Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Glaucoma Surgery Devices
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
    • Diagnostic and Monitoring Devices
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Fundus Camera
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Optical Coherence Tomography Scanner
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Retinoscope
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Tonometer
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Pachymeter
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Optical Biometer
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Autorefractor
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
        • Others
          • Introduction
          • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
  5. Global Ophthalmic Devices Market, By End User, 2016 - 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 - 2026
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
    • Ophthalmic Clinics and Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 - 2026, (US$ Million)
  6. Global Ophthalmic Devices Market, By Region, 2016 - 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 - 2026
    • North America
      • Market Size and Forecast, By Product Type, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Product Type, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product Type, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Product Type, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Product Type, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Product Type, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2016 - 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 - 2026, (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
  7. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • Carl Zeiss Meditec Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Escalon Medical Corp.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Haag-Streit AG 
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Heidelberg Engineering GmbH
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Heine Optotechnik GmbH & Co. KG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Essilor International S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • NIDEK CO., LTD.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Quantel Medical SAS
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Luneau Technology Group
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
      • Topcon Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Strategies
  8. Section
    • References
    • Research Methodology
    • About Us and Sales Contact

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