The size of the Asia Pacific ophthalmic devices market was valued at USD 7.48 billion in 2019 and estimated to be growing at a CAGR of 6.90 %, to reach USD 10.44 billion by 2024.
Rising adoption ophthalmic diagnostic devices is rapidly growing in this region due to the growing awareness on the eye-health and eyecare, which is estimated to spur Asia Pacific ophthalmic devices market growth. Increasing retinal disorders and minimally invasive surgeries, emerging geriatric population, healthcare infrastructure are further boosting the market in this region.
Less knowledge regarding devices handling during critical surgeries are dampening the growth rate of the ophthalmic devices market. Lack of skilled physicians, the cost-effectiveness of the ophthalmic devices in middle-income countries are mainly hindering the Asia Pacific ophthalmic devices market.
Asia Pacific ophthalmic devices market segmented and sub-segmented into the following categories.
Asia Pacific region is projected to witness a higher growth rate during the forecast period among all areas. This growth is attributed due to the rising investments in healthcare and growing awareness about ophthalmic diseases and available medical technologies for the treatment options are accelerating the market growth.
Indian ophthalmic devices market is the second-largest growing market in the Asia Pacific, followed by China. India ophthalmic devices market is estimated to grow USD 257 million by 2022. Companies such as Carl Zeiss Meditec, Allergan, Santen, Novartis Johnson and Johnson Vision Care and Topcon Corporation are holding the largest market share in the Indian market.
Australian ophthalmic devices market is emerging from the last few years. Increasing medical professionals, an ageing population with eye disorders have anticipated the market growth in this country. Australia ophthalmic device suppliers deliver ancillary services to hospitals, clinics, and these services will encourage the broad range adoption of novel technology, to improve patient health and optimization of ophthalmic devices. Australia consumers receive 85 % of premium ophthalmic devices such as spectacles, and 10% of patients receive monofocal devices.
Japanese ophthalmic devices market is one of the rapidly growing countries in terms of adoption of technology, innovative medical devices. High prevalence of eye disorders in the younger population may lead to a health concern. Companies such as NIDEK Co. Ltd and TOPCON Corporation are currently leading the Japanese market and predicted to continue their dominance during the forecast period with their new product launches. For Instance, in 2018, NIDEK Co. Ltd launched the GS-1 Gonioscope, an automated ophthalmic device. Gonioscope is enabling 360- degree colour iridocorneal angle imaging.
Prominent Companies dominating the Asia Pacific ophthalmic devices market Profiled in the Report are Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.2 Surgical Devices
5.1.3 Monitoring and diagnostic devices
5.1.4 vision care
5.1.5 Y-o-Y Growth Analysis, By Product Type
5.1.6 Market Attractiveness Analysis, By Product Type
5.1.7 Market Share Analysis, By Product Type
5.2.3 Glaucoma surgical devices
5.2.4 Ophthalmic Lasers
5.2.5 Cataract surgical devices
5.2.6 Iris retractors
5.2.7 lens clearing and disinfectant solutions
5.2.9 Y-o-Y Growth Analysis, By Devices
5.2.10 Market Attractiveness Analysis, By Devices
5.2.11 Market Share Analysis, By Devices
5.3.3 Eye care Clinics
5.3.4 Research Institutes
5.3.6 Y-o-Y Growth Analysis, By End-users
5.3.7 Market Attractiveness Analysis, By End-users
5.3.8 Market Share Analysis, By End-users
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product Type
126.96.36.199 By Devices
188.8.131.52 By End-users
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product Type
18.104.22.168 By Devices
22.214.171.124 By End-users
6.1.5 Market Share Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product Type
184.108.40.206 By Devices
220.127.116.11 By End-users
6.5 South Korea
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Alcon Inc.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Essilor International S.A
8.3 Johnson & Johnson
8.4 Abbott Medical Optics Inc.
8.5 Bausch & Lomb, Inc.
8.6 Haag-Streit AG
8.7 Topcon Corporation
8.8 Carl Zeiss Meditec AG
8.9 Nidek Co. Ltd.
8.10 Ziemer Ophthalmic Systems AG
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures