Increasing prevalence of eye-related disorders such as macular degeneration and diabetic retinopathy, rise in aging population and increasing government initiatives towards the development of healthcare infrastructure in the developing countries are the key factors driving growth of the global ophthalmic devices market currently.
In addition, increasing prevalence of lifestyle associated diseases, such as diabetes and high blood pressure, is fuelling growth of the market further. In case of the geriatric population, treatment of eye diseases calls for more effective ophthalmology devices. Several government associations across the globe are also focused on increasing consumer awareness about ophthalmic diseases. However, various factors, such as lack of awareness about eye diseases and high risks associated with eye surgeries, act as restraints for growth of the ophthalmology devices market. Also, there are some problems associated with the use of ophthalmology devices; for instance, changes made to the cornea cannot be reversed after LASIK surgery.
By region, North America dominated the ophthalmic diagnostic equipment market with over XX% value share in 2014 and is expected to remain dominant throughout the forecast period. The ophthalmic diagnostic equipment market in Asia and Latin America is expected to expand at a CAGR of XX% and XX%, respectively, in terms of value, during the forecast period.
Key market players covered in this report are TOPCON CORPORATION, Carl Zeiss Vision International GmbH, Ellex, Quantel Medical Inc, NIDEK CO., LTD, HAAG-STREIT GROUP, Halma plc, Coburn Technologies Inc. and Kowa Company Ltd, Says MIR recent publication on “Ophthalmic Diagnostic Equipment Market: Global Industry Analysis and Opportunity Assessment”