The global ophthalmic devices market is poised to grow at a stable pace in the forthcoming years. The growth of the market can be primarily attributed to the growing pool of patients suffering from eye diseases such as cataract and glaucoma. According to a report by the World Health Organization (WHO), glaucoma is the second leading cause of blindness in the world, after cataract. Moreover, changing demographics and geographical trends are also contributing to the growth of the market. The rising geriatric population is resulting in more people suffering from refractive errors including astigmatism and presbyopia. This, in turn, is boosting the demand for ophthalmic devices as a corrective measure.
With the introduction of technologically advanced minimally invasive surgeries, such as LASIK surgery, people are increasingly opting for ophthalmic surgeries to rectify eye related disorders. Advanced surgical procedures such as ultrasound phacoemulsification, multi-wavelength diabetic retinopathy treatment, and femtosecond laser surgery are anticipated to provide a significant push to the demand for these devices. Other factors driving the market are rising adoption of diagnostic procedures and low compliance with pharmaceuticals.
On the other hand, the absence of favorable reimbursement structures is restraining the growth of the market. The presence of poor primary health care infrastructure along with the lack of healthcare insurance and low accessibility to eye care in developing countries is hampering the growth of the market. Furthermore, the drying pipeline of ophthalmic drugs and economic slowdown in most countries worldwide are influencing the global ophthalmic devices market. HoweverFurthermore, emerging countries such as China and India are anticipated to show tremendous potential for market growth owing to the increasing prevalence of chronic diseases such as diabetes, heart diseases, thyroid problems, and obesity, which augment the risk of optical disorders.
Due to a rapidly increasing aging population and the growing prevalence of chronic eye conditions as a consequence of unhealthy lifestyles and high stress, North America is expected to emerge as a lucrative market. The Asia Pacific market for ophthalmic devices is also likely to flourish, mainly due to rising disposable income and rising awareness regarding these devices.
QYResearchReports.com offers a large database offering a plethora of reports on niche markets under the category of ophthalmic devices. Some of the markets discussed under this category are global ophthalmic diagnostic equipment market, global optical lens market, the U.S. high frequency ophthalmology industry, global aspherical lenses market, global and China ophthalmic devices market, global and China tonometer industry, global and China intraocular lens (IOL) market, global and China ophthalmic optical instruments industry, and global and China optical glass market.
QYResearchReports.com also provides a comprehensive evaluation of the global ophthalmic devices market by methodically examining essential parameters of the market including the classifications, industry chain structure, applications, and technological developments. The reports in this category serve as a repository of analysis and information regarding market dynamics, competitive landscape, and regional segmentation. All the reports pay due heed to the significance of the upstream raw materials supply chain and the downstream value chain. The various statistics pertaining to the market have also been presented in pictorial and tabular forms for a lucid analysis.