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Ophthalmology is a branch of science that is concerned with the physiology, life structures, and infection of the eye. Ophthalmic optics and instruments such as contact lenses, intraocular lenses, spectacles lenses, refractive surgery, etc. are used for the testing and surgery of eye. Due to technological advancement, today ophthalmic optics and instrument play a very vital role in vision restoration of eye in all age people.  

Based on device type, the global ophthalmic optics and instrument market can be segmented into surgery devices, diagnostic devices, and vision care. The diagnostic devices segment is projected to grow at a rapid pace during the forecast period due to increase in demand for eye testing to confirm eye diseases. The surgery devices segment can be categorized into cataract surgery devices, vitreoretinal surgery devices, refractive surgery devices, and glaucoma surgery devices. The diagnostic devices segment can be classified into keratometers, optical coherence tomography systems, tonometers, slit lamps, fundus cameras, autorefractometers, fluorescein angiography, perimeters, pachymeters, specular microscopes, corneal topographers, gonioscopes, ophthalmic echography, and others. The vision care segment can be bifurcated into spectacle lenses and contact lenses. In terms of end-user, the global market can be segmented into eye hospitals and eye clinics. The eye hospitals segment is likely to dominate the market during the forecast period, due to increase in patient preference to visit eye hospitals because of the availability of advanced instruments and favorable reimbursement.

Rise in demand for minimally invasive eye surgeries among eye patients is a major factor that drives the global ophthalmic optics and instrument market. Technological advancements in instruments and increase in geriatric population with eye diseases are the other factors fueling the growth of the global ophthalmic optics and instrument market. However, cost of the treatment as well as instruments is likely to to hamper the market during the forecast period.

In terms of region, the global ophthalmic optics and instrument market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market. It is projected to account for a significant share of the global market during the forecast period, due to quick adoption rate of advanced instruments and presence of well-trained ophthalmologists in the region. Moreover, increase in awareness among the patient population and rise in prevalence of cataract surgeries are the others factors expected to drive the market in North America. Adoption of advanced ophthalmic optics and instrument is quite high in Europe due to increase in demand for minimally invasive eye surgeries and surge in awareness among people about the need for regular eye checkups. This is expected to drive the market in Europe. Increase in the geriatric population which is more prone to eye disorders in countries such as China, Vietnam, and Japan, and rise in adoption of advanced devices for testing by health care systems in the region are likely to fuel the market in Asia Pacific from 2018 to 2026. Increase in demand for minimally surgeries and rise in prevalence of eye diseases are the key factors likely to augment the market in Middle East & Africa during the forecast period.

Major players operating in the global ophthalmic optics and instrument market are Carl Zeiss Meditec AG, Alcon, Inc., Haag-Streit AG, Topcon Corporation, Ziemer Ophthalmic Systems AG, Bausch Health Companies, Inc., and STAAR SURGICAL, among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Ophthalmic Optics Instrument Market