Ophthalmology Equipment Market Highlights 2020-2029
The global ophthalmology equipment market is anticipated to grow with a notable CAGR during the forecast period, i.e., 2021-2029. The growth of the market over the forecast period can be attributed primarily to the rising prevalence of eye diseases globally, such as ocular hypertension or glaucoma, diabetic retinopathy, age-related macular degeneration (AMD), cataract, and others. Additionally, the growing advancements in the development of ophthalmology medical equipment by the ophthalmic equipment companies, along with the rising awareness amongst individuals for the need to treat ophthalmic diseases, are some of the additional factors anticipated to drive the market growth. According to the statistics by the World Health Organization (WHO), around 2.2 billion people around the world have a distance or near vision impairment.
The market is segmented by end-user into hospitals, clinics, and others. Among these segments, the clinics segment is projected to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the increasing availability of private clinics which are operated by numerous ophthalmologists, along with the growing need amongst these clinics for ophthalmology equipment.
Ophthalmology Equipment Market Regional Synopsis
Regionally, the global ophthalmology equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Among these regions, the market in the Asia Pacific is projected to hold the largest market share by the end of 2029. The growth of the market in the region can be attributed to the growing geriatric population in the region and the need amongst individuals for affordable eye care. Moreover, growing population in the region, along with the improving healthcare infrastructure across several nations in the region are some of the additional factors anticipated to drive the growth of the market in APAC.
The global ophthalmology equipment market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global ophthalmology equipment market includes the following segments:
By Function of Product
- Diagnostic Devices
- Refractors
- Fundus Camera
- OCT
- Perimeters
- Corneal Topography Systems
- Retinal Ultrasound Systems
- Ophthalmoscopes
- Tonometer
- Slit Lamps
- Others
- Surgical Devices
- Cataract
- Glaucoma
- Vitreoretinal
- Refractive Error Surgical Devices
- Vision Care Devices
- Spectacles
- Contact Lenses
By End-User
- Hospitals
- Clinics
- Others
Growth Drivers
- Increasing Prevalence of Ophthalmic Diseases
- Growing Advancements in Ophthalmology Equipment
Challenges
- Lack of Awareness for Ophthalmic Diseases in Low-Income Nations
- High Cost of Ophthalmology Equipment
Top Featured Companies Dominating the Market
- Novartis AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Developments
- Regional Presence
- SWOT Analysis
- Bausch & Lomb
- NIDEK CO., LTD.
- ZEISS International
- HOYA Corporation
- Pfizer Inc.
- AbbVie Inc. (Allergan)
- Santen Pharmaceutical Co., Ltd.
- Johnson & Johnson Vision Care, Inc.
- Topcon Healthcare
