The global ophthalmology surgical devices market was valued at around US$ 7.0 Bn in 2016 and is expected to expand at a CAGR of over 4.0% from 2017 to 2025, to reach value of around US$ 11.0 Bn by 2025.
The global ophthalmology surgical devices market was valued at around US$ 7.0 Bn in 2016 and is expected to expand at a CAGR of over 4.0% from 2017 to 2025, to reach value of around US$ 11.0 Bn by 2025. Rising elderly population worldwide is expected to contribute to increase in the number of people with avoidable blindness. This, in turn, is projected to drive the global ophthalmology surgical devices market from 2017 to 2025.
A recent research revealed that LED light could be damaging the retina. The findings of the research were published on Cleveland Clinic’s online portal. Similar researchers have shifted the focus of the medical fraternity towards developing surgical and non-surgical mechanisms for eye treatments.
The field of ophthalmology has remained at the helm of research and development across the medical fraternity. This factor has played an integral role in the growth of the global ophthalmology surgical devices market. Several healthcare organisations have made concerted efforts to educate people about the various types of ophthalmological disorders. The American Academy of Ophthalmology recently debunked several myths associated with paediatric ophthalmology. It is expected that the global ophthalmology surgical devices market would tread along an ascending trajectory of growth in the coming years.
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Supremacy of Ophthalmological Research
The growing incidence of myopia and hyper myopia has raised several concerns across the medical fraternity. Researchers have made positive interventions in the field of ophthalmology by developing new lines of treatment and disease analysis. This factor has also generated a plethora of opportunities for growth across the global ophthalmology surgical devices market. Management of synthetic eye treatment also necessitates the use of surgical devices.
Regional Analysis of Research Capabilities
On a regional footing, the global ophthalmology surgical devices market is segmented into South America, Europe, Asia Pacific, North America, and the Middle East and Africa. The research fraternity in the US has time and again proved its worth to the world. This factor has played a central role in propelling demand across the North America ophthalmology surgical devices market. The market for ophthalmology surgical devices in Europe is expected to expand as the NHS dedicates more resources towards ophthalmological treatments.
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Presence of Surgical Centers in Rural Areas to Aid Market Growth
It is evident that the boisterous pace of urbanization has led to the opening new clinical and surgical centers across the suburbs and cities. However, the most stellar driver of demand within the global ophthalmology surgical devices market is the commencement of surgical centers in rural areas. On the flip side, the absence of medical reimbursement for ophthalmic treatments could be a threat to market growth. Nevertheless, governments across several regions provide incentives for the development of dedicated ophthalmic clinics. This factor shall continue to aid the growth of the global ophthalmology surgical devices market in the years to come.
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Some of the key players in the global ophthalmology surgical devices market IRIDEX Corporation, are HOYA Corporation, Johnson & Johnson Vision Care, Inc., Inc., NIDEK CO., LTD., Lumenis Ltd., and STAAR Surgical Company.
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