Increasing demand for efficient treatment methodologies, rapid technological advancements, and rising incidence rate of ocular disorders such as corneal abrasion, cataract, dry eyes are some major drivers of the ophthalmology diagnostics and surgical devices market. Enhanced cataract surgery techniques such as implantable intraocular lenses and the introduction of retinal implants are also expected to enhance market growth during the forecast period. Moreover, the introduction of new products in line with the changing healthcare dynamics such as drug-eluting contact lenses and handheld devices enabled with improved technology for early detection of macular degeneration and glaucoma are anticipated to improve usage rates. As per the WHO, approximately 153 million people around the world are affected by visual impairment. Four major refractive errors are myopia, astigmatism, hyperopia, and presbyopia. The growing geriatric population base, especially in the U.S. is expected to drive market growth by increasing the incidence rates of the target disease. According to the National Institute on Aging (NIA), by 2030, the geriatric population base is expected to reach around 72 million people
The ophthalmic diagnostics and surgical devices market is classified into products and applications. The product segments of the market include autorefractometers, tonometers, fluorescein angiography, fundus cameras, slit lamps, tonometers, ophthalmoscopes, gonioscopes, keratometers, ophthalmic echography (ultrasound), and others. Surgical devices are further segmented into cataract surgery devices, glaucoma surgery devices, vitreoretinal surgery devices, and refractive surgery devices. Application segments of the market include surgical, diagnostics, and vision care.
Regional segments of the ophthalmic diagnostics and surgical devices market are North America, Europe, Asia Pacific, MEA, and Latin America. North America held one of the largest market shares due to the presence of high penetration of technologically advanced products and improved healthcare facilities in the region. Asia Pacific is expected to grow at a rapid rate during the forecast period. Increasing disposable income and rising awareness about eye diseases in emerging economies such as China and India are some attributes accounting for the aforementioned conclusion.
Some key players of the ophthalmology diagnostics and surgical devices market include Abbott Medical Optics, Alcon Laboratories, Topcon Corporation, Bausch & Lomb Inc., Essilor International, Johnson & Johnson, SynergEyes, Inc., and Carl Zeiss Meditec AG.
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With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.