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. CLICK TO DOWNLOAD SAMPLE REPORT
The global ophthalmology equipment market is further classified on the basis of region as follows:
Our in-depth analysis of the global ophthalmology equipment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing prevalence of ophthalmic diseases globally is one of the major factors driving the market growth.
The market is anticipated to grow with a notable CAGR over the forecast period, i.e., 2021-2029.
The high cost of ophthalmology equipment and the lack of awareness for these equipment in several low-income nations is one of the major factors estimated to act as barriers to the growth of the market.
The major companies in the market are Novartis AG, Bausch & Lomb, NIDEK CO. LTD., ZEISS International, HOYA Corporation, Pfizer Inc., AbbVie Inc. (Allergan), Santen Pharmaceutical Co., Ltd., and others.
The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market in Asia Pacific is anticipated to hold the dominating share by the end of 2029 owing to the growing geriatric population in the region and the need for affordable healthcare treatment.
The ophthalmology equipment market is segmented by function of product, end-user, and by region.
The clinics segment is anticipated to hold the dominating share by the end of 2021 owing to the increasing availability of private clinics which are operated by numerous independent ophthalmologists.
Select License Type
Direct access to analyst to help you understand the market in a better way to handle your critical question
Citing your business specific requirement our consultant would assist you ensuring targeted goal is achieved
Get 10% free customization