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Ophthalmic Surgical Devices Market to Hit $12.75 Bn by 2026; Increasing Popularity of LASIK Surgical Procedure to Boost Market Growth: Fortune Business Insights™

Key Companies Covered in the Ophthalmic Surgical Devices Market Research Report are Oertli Instrumente AG, Allergan, Hoya Corporation, Bausch & Lomb Incorporated, Johnson and Johnson Services, Inc., New World Medical, Inc., Glaukos, STAAR SURGICAL, ZEISS International, Alcon (Part of Novartis AG) and other key market players.

/EIN News/ -- Pune, Feb. 04, 2020 (GLOBE NEWSWIRE) -- The global Ophthalmic Surgical Devices Market size is anticipated to reach USD 12.75 billion by 2026, registering a CAGR of 4.8% during the forecast period. Rising prevalence of cataract is one of the key factors fueling this market. The World Health Organization (WHO) defines cataract as “clouding of the lens of the eye which impedes the passage of light”. The WHO estimates that currently there are approximately 18 million around the world that are blind in both eyes due either to improper surgery or inaccessibility to advanced procedures. While this eye condition mostly occurs as a person ages, the WHO claims that other risk factors such as diabetes, exposure to UV light, and smoking are fast emerging as major grounds for cataract. Moreover, the International Agency for the Prevention of Blindness (IAPB) states that blindness from cataract is around 5% in developed countries and 50% in developing and underdeveloped nations. Increasing demand for ocular treatments from emerging economies is, therefore, expected to lead the Ophthalmic Surgical Devices Market trends in the upcoming decade.


For more information in the analysis of this report, visit:  https://www.fortunebusinessinsights.com/ophthalmic-surgical-devices-market-102054


The above insights are provided in a recent Fortune Business Insights™ report, titled “Ophthalmic Surgical Devices Market Size, Share & Industry Analysis, By Product Type (Cataract Surgery Devices, Vitreoretinal Surgery Devices, Refractive Error Surgery Devices, Glaucoma Surgery Devices), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026”. The report further states that the value of this market stood at USD 8.79 billion in 2018. The main highlights of the report include:

  • In-depth study of the competitive landscape with main focus on companies’ profiles, strategies, and products launched;
  • Meticulous segmentation of the market and research into individual segments;
  • Detailed analysis of the regional dynamics; and
  • Microscopic evaluation of the various drivers and restraints influencing the market.

Growing Number of Aged People Worldwide to Prove Beneficial for the Market

According to the WHO, aging is the primary reason for the development of eye diseases and conditions. The condition develops slowly as the strength of the lens in the eye deteriorates with age and diminishes vision. Therefore, as world population ages, the incidence of age-related ocular disorders is likely to rise. According to the Department of Economic and Social Affairs of the UN, by 2050, there will be close to 2.1 billion people crossing the age of 60. Estimates released by AGS Health in Aging Foundation reveal that 20% of the adults above 60 years of age developed cataract in one or both eyes in 2019. Further, Mayo Clinic reports that glaucoma, which occurs due to damaged optic nerve in people over the age of 60, is one of the top causes of blindness in the world. Thus, growing global geriatric population would boost the ophthalmic surgery devices market growth.


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Patient-friendly Healthcare Policies to Propel the Market in North America

North America is predicted to dominate the Ophthalmic Surgical Devices Market share over the forecast period, having generated a revenue of USD 2.82 billion in 2018. The most favorable factor for the market here is the convenient nature of healthcare policies. Apart from this, increasing prevalence of cataract, glaucoma, and refractive errors, along with strong presence of other risk factors such as smoking and diabetes, will also further the growth of the market in North America.

Asia-Pacific is expected to significantly contribute to the ophthalmic surgical instrument market revenue owing to the rising number of aging people in China and Japan and growing incidence of ocular disorders. In Europe, the market will be driven by active adoption of advanced diagnostic and surgical procedures.

Interesting New Product Launches to Fire up Competitive Spirits

The ophthalmology surgical devices market analysis points towards a period of fierce competition in this market as key players introduce novel products to strengthen their hold on the market. Additional encouragement is being provided by timely regulatory approvals to innovative offerings.

Industry Developments:

  • August 2019: New World Medical, a renowned company in ophthalmological devices, launched its brand new glaucoma drainage tool,  Ahmed ClearPath, in the US. The device consists of a flexible plate designed to align with the curvature of the eye and anteriorly placed suture fixation points for efficient drainage.
  • July 2019: The Irish pharmaceutical giant, Allergan, announced that its New Drug Application for the company’s Bimatoprost Sustained-Release has been accepted by the US FDA. If successful, the product would be the first-of-its-kind biodegradable implant for treating patients with glaucoma or ocular hypertension.

Major Companies Profiled in the Ophthalmic Surgical Devices Market Report:

  • Oertli Instrumente AG 
  • Allergan
  • Hoya Corporation
  • Bausch & Lomb Incorporated
  • Johnson and Johnson Services, Inc.
  • New World Medical, Inc.
  • Glaukos
  • STAAR SURGICAL
  • ZEISS International
  • Alcon (Part of Novartis AG)


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Detailed Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Number of Cataract Surgeries - For Key Country/Region
    • Pipeline Analysis
    • Key Industry Developments - Mergers, Acquisitions, and Partnerships
    • Technological Advancements in Ophthalmic Surgery
    • Introduction of New Products / Approvals (by Major Players)
  • Global Ophthalmic Surgical Devices Market Analysis, Insights and Forecast, 2015-2026
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Surgery Type
      • Cataract Surgery Devices
        • Phacoemulsification Systems
        • Femtosecond Laser
        • Intraocular Lenses
        • Ophthalmic Viscoelastic Devices & Other Consumables
      • Vitreoretinal Surgery Devices
        • Equipment
        • Consumables
      • Refractive Error Surgery
        • Equipment
        • Consumables
      • Glaucoma Surgery
    • Market Analysis, Insights and Forecast – By End-user
      • Hospitals
      • Ophthalmic Clinics
      • Others
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia pacific
      • Latin America
      • Middle East & Africa

TOC Continued….!


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