Published By : 22 Nov 2016 | Published By : QYRESEARCH
The global ophthalmology devices market is projected to expand steadily on the back of a rising geriatric population who are highly susceptible to eye disorders. Apart from that, evolution of cutting-edge technologies that make ophthalmology devices more sophisticated and effective is also positively impacting the market.
Currently, North America leads the global ophthalmology market with a dominant share, followed by Europe. The market has reached a developed stage in the two continents on account of awareness about the availability of better quality ophthalmic devices, solid distribution channels, and concentration of leading companies in the region. Going forward, however, it is the untapped emerging economies that are predicted to steal the show vis-à-vis growth rate. Mexico is one such potential market in North America.
Surge in Medical Tourism Create Opportunities for Manufacturers and Sellers in Mexico’s Ophthalmic Devices Market
A growth in medical tourism in Mexico has added to the demand for healthcare in the country. This in turn has fuelled an uptick in the ophthalmic devices market in Mexico. To tap into the window of opportunity created by the robust demand, astute manufacturers in Mexico have continuously worked on formulating new and relevant strategies to push their margins higher. This, coupled with favorable regulatory norms, has substantially boosted the ophthalmic devices market in Mexico. The government of Mexico, for instance, repealed the mandatory manufacturing regulation in 2008, thereby providing opportunities for new entrants and international players such as Astellas, Daiichi Ranbaxy, and Takeda to set up shop in the country.
Besides, strong focus on medical studies and research and development, increase in expenditure in healthcare infrastructure, and healthcare facilities cropping up everywhere, have also had a positive impact on the market. In the near future, the very same factors would usher in more growth in the Mexico ophthalmic market.
Segmentation of the Market in Mexico
The ophthalmic devices market in Mexico can be segmented into cataract surgery devices, glaucoma surgery devices, vitreo retinal surgery devices, ophthalmic diagnosis equipment, refractive surgery devices, and vision care. Some of the key companies operating in the space are Alcon, Johnson & Johnson Vision Care, Bausch & Lomb Incorporated, Essilor International, Hoya Corporation, Abbott Medical Optics Inc., and Carl Zeiss AG.