Ophthalmology Devices Market

Global Ophthalmology Devices Market: Snapshot

The drive for ophthalmology devices stems from the need for improving surgical technologies, diagnostic and imaging methods, and care devices for wide spectrum of eye diseases. Imaging modalities have made unprecedented technological advances, particularly with the advent of artificial intelligence technologies. Focus on increasing the affordability of orphan drugs, and increasing adoption of novel drug delivery approaches have expanded the avenue for manufacturers in the ophthalmology devices market. New products must meet the criteria of meeting the needs of each patient’s individual needs. Need for precise interventions in ophthalmology is a key driver for new devices in the market. Substantial portion of elderly populations living with glaucoma in some developed nations has stimulated research focused toward novel devices in the pipeline. The growing popularity of micro-invasive glaucoma surgery (MIGS) has unlocked a new prospect in the ophthalmology devices market. Growing incidence of age-related macular degeneration, cataract, and diabetic retinopathy bolsters the need for ophthalmology devices for reducing the burden of such diseases in world’s population.

The scope of deep learning algorithms for medical imaging for eye disorders creates a new paradigm in ophthalmology devices. Numerous devices have come to the fore. A case in point is embedded ophthalmic devices. Prevalence of ophthalmic conditions affecting the retinas in developing and developed nations has improved the level of ophthalmic care. The growing clinical prospect of smart retinal imaging is boosting the development of novel ophthalmology devices. Most medical device manufacturers in ophthalmology devices market are focused on continually improving technologies for vision care. Over the past few years, the market has benefitted from a number of joint ventures for tackling eye disorders, notably glaucoma and dry eye disease. To the end, several medical device makers are focusing on developing and commercializing ophthalmology devices.

Ophthalmology devices market is seeing an upward trend due to rise in ageing population and increased focus on healthcare.It is observed that older adult people are more prone to develop eye related disorders, and are the target customers of ophthalmology device manufacturers. The market growth is also supported by continuous developments made in the field of medical technology which has seen development of novel products. The increased spending on healthcare by individuals and governments across the globe has fuelled the ophthalmology device market growth.

A large share of global ophthalmology devices is contributed by vision care devices on account for higher end user base. These may include contact lens, lens cleaning and disinfecting solutions, spectacles, and many moredevices for the diagnosis and surgery purpose are required by hospitals and ophthalmologists. 

For in-depth and comprehensive analysis of ophthalmology market, it can be analyzed on various parameters such as application, disorders, device type and geography.The various segments for analyzing ophthalmology devices include:On basis of application - diagnosis, surgery, and vision care devices; on the basis of disorder -cataract, glaucoma, refractor disorders, vitreo retinal disorders, and vision care. The segmentation by device is most fragmented and includes high-end to low-end devices such as phoropter, refractor, scanning laser polarimetry device, retinscope, ophthalomoscope, contact lens, lens cleaning and disinfecting solutions, spectacles, and many newly developed products as well.

The key market players who are driving growth in the ophthalmology market include names such as: Essilor International, Alcon Inc., Johnson and Johnson Vision Care, Carl Zeiss AG, Hoya Corporation, Canon Inc., Abott Medical Optics Inc., CooperVision AG, Nidek Co Ltd., Bausch and Lomb Inc., and Topcon Corporation.