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SOURCE: Global Industry Analysts, Inc.
GIA announces the release of a comprehensive global report on Ophthalmic Instrumentation markets. By the year 2018, global Ophthalmic Instrumentation market is projected to exceed US$2.9 billion. Though modest, the growth of Ophthalmic Instrumentation market is expected to result from more cases of cataract, glaucoma and other eyesight related conditions arising from a flourishing baby boomer population. Advancement and novelty in the technical arena is also likely to fuel market growth. Fast growth is expected in the emerging markets of Asia, where the Ophthalmology market remains underpenetrated.
San Jose, CA (PRWEB) October 08, 2012
Follow us on LinkedIn – Eye care comprises an evolving discipline in the field of medicine. Despite the continued slack in economy in recent years in event of the eurocrisis and weak debt conditions in developed countries, global ophthalmic instrumentation market is projected to register steady growth in future. With rise in the average life span, there is an increasing incidence of ophthalmic and ocular conditions which is a natural phenomenon of aging. Close to 285 million people world over are visually impaired and about 64.5% of the visually impaired are aged above 50 years. In addition, lifestyle trends and rising levels of pollution in developing countries have put an ever-increasing number of people at risk of developing potential eye allergies, hypersensitivity to environmental elements such as pollen, dust, and dry eye syndrome, among others. While demographics continue to spell opportunities in the ophthalmic instrumentation sector, increasing knowledge of vision correction related treatments and favorable reimbursement scenario in certain markets, besides increasing accessibility to new technologies is further spurring growth in the market.
In terms of technology, ophthalmic imaging has evolved over the years with each succeeding technology facilitating more discrete and precise viewing of the posterior portion of the eye. The ophthalmic diagnostics market is expected to benefit from the growing importance of monitoring the eye health for assessing other risk ailments such as high blood pressure, diabetes, and cancers. Development of technologies such as digital photography, scanning laser ophthalmoscopy (SLO), spectraldomain optical coherence tomography have aided ophthalmologists in having a better understanding of diseases in the posterior segment of the eye. At present, the demand is centered on imaging technologies that offer wider visual access of retinal periphery beyond the typical 30°-100° frame. Demand for optical coherence tomographers is growing at a rapid pace as the device is capable of imaging the vascular structure under the retina and has higher resolution capabilities.
In the ophthalmic surgical devices market, potential in the refractive laser surgery segment is set to be more with efforts directed towards faster recovery times and low risk of complications. Latest ophthalmic devices such as accommodative lenses, LASIK and implantable retinal prosthetics are currently replacing the extensively used traditional treatment methods. A noteworthy technology in refractive error correction area in recent times is femtosecond laser platform for LASIK which facilitates creation of safer and more precise flaps. The advent of this next generation technology is expected to revolutionize cataract surgery procedure, bringing in the shift from conventional hand-held blade to blade-free lasers.
As stated by the new market research report on Ophthalmic Instrumentation, the United States represents the largest market worldwide. Europe remains the second largest market for refractive surgery in the world, after the US. The region accounts for about a quarter of the global market for refractive laser systems and is home to about one-third of the world ophthalmologist community. Asia-Pacific represents the fastest growing regional market during the analysis period. Geographically, more than half of the world’s population lives in Asia, with China and India accounting for over 40%. The unsaturated Indian and Chinese markets are thereby likely to result in growth in the overall ophthalmology market, primarily owing to rising disposable incomes coupled with increasing awareness regarding eye diseases.
Consolidation in the eye care industry highlights the trend towards vertical and horizontal integration at manufacturing, distribution, and managed care levels. One of the major factors driving consolidation trend is mounting price competitiveness. Key players profiled in the report include Abbott Medical Optics, Inc., Alcon, Inc., Bausch & Lomb, Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Iridex Corp., Lumenis Ltd., Nidek Co. Ltd., Topcon Corp., and Topcon Medical Systems, Inc.
The research report titled “Ophthalmic Instrumentation: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, growth drivers, growth restraints, competitive scenario, regulatory standards, product launches/approvals/innovations, recent industry activity, and coverage on major global market participants. The study analyzes market data and analytics in terms of volume and value sales for regions including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, Middle East, and Latin America. Segments analyzed include Diagnostic Devices (Ophthalmoscopes, Lens Meters, Corneal Topography Systems, Slit Lamps, Diagnostic Imaging Systems, Tonometers, Refractors, Perimeters, Fundus Cameras and Diagnostic Ultrasound Equipment), and Surgical Products (Ophthalmic Lasers and Ophthalmic Surgical Microscope).
For more details about this comprehensive market research report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
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