The main objective of this report is to define, describe, and forecast the global “Ophthalmology Devices” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to report the global ophthalmology devices market is projected to grow at a CAGR of 5.8% over the forecast period of 2018-2024.
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Global Ophthalmology Devices Market: North America has amassed the growth in Ophthalmology Devices Market
The global Ophthalmology Devices market has been dominated by the North America region over the historic period 2015-16 followed by Europe.
Presence of developed healthcare infrastructures coupled with growing geriatric population and rising incidence of chronic eye conditions across this region are the prime factor responsible for the growth of Ophthalmology Devices market in this region.
Increasing investment by major manufacturers in emerging economies, improvement in healthcare infrastructure, growing occurrence of eye disorders such as glaucoma, and rising awareness among patients are anticipated to boost the market for Ophthalmology Devices.
Rising number if strategic M&A’s to boost the growth in Ophthalmology Devices Market
Rising number of strategic mergers & acquisitions is one of the recent trends in the global Ophthalmology Devices market. Moreover, this trend is further anticipated to drive the global Ophthalmology Devices market over the forecast period.
Moreover, rise in number of strategic M&A’s are responsible owing to factors such as high growth potential of ophthalmic market, intense level of competition and developing technologically advanced products to gain competitive edge.
Growing incidences of eye disorders
Growing incidence of eye disorders is the key factor responsible for the growth of global Ophthalmology Devices market.
Moreover, the rise in incidences of eye disorders will surge the ophthalmic devices market by propelling demand for diagnostic, vision and surgical care devices.
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Leading vendors in the market are concentrating on developing technologically advanced products by strategic M&A’s which is anticipated to bring more opportunities and chances of growth.
The leading companies identified in the market as Carl Zeiss Meditec AG, Abbott Medical Optics, Inc., Bausch & Lomb, Inc., Alcon, Inc., Haag-Streit, Johnson & Johnson, Essilor International S.A, Nidek Co. Ltd, Topcon Corporation and Others.