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HEALTHCARE & PHARMACEUTICAL

Ophthalmology Equipment Market Segmentation by Function of Product {Diagnostic Devices (Refractors, Corneal Topography Systems, Retinal Ultrasound Systems, Ophthalmoscopes, Tonometer, Slit Lamps, and Others), Surgical Devices (Cataract, and Refractive Error Surgical Devices), and Vision Care Devices (Spectacles, and Contact Lenses)}; by End-User (Hospitals, Clinics, and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Extensive insights into the Growth of Ophthalmology Equipments Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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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 Share, Segmentation by End-User

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

Ophthalmology Equipment Market Share Segmentation by Region

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

Key Players Dominating the Market

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