The size of the Asia Pacific Ophthalmology Device Market was worth USD 6.14 billion markets in 2019 is poised to reach USD 8.42 Billion by 2024 with an impressive CAGR of 6.5% in the forecasted period.
The ophthalmology device market is one of the key growth areas in the medical device industry with rising demand for better quality healthcare services to improve millions of lives. Ophthalmic devices primarily include glaucoma, refractive and cataract surgical instruments, among others. With increasing awareness and fast approvals, the growth is most likely to sustain the coming years.
Ophthalmology devices encompass surgical devices which are mainly used in treating infections and conditions relating to the eye. The usage of ophthalmology devices in surgeries has made it possible for decreasing treatment time drastically while providing better eye care protection. These devices are also proved to make the process of treating eyes more convenient for ophthalmologists and patients.
Owing to its advantages over its counterparts, the Ophthalmology device market is currently among the faster-growing segments in the medical device market. The surge in demand is mainly attributed to technological innovations, the growing prevalence of eye diseases and the aging population. The market is also aided by a host of other factors that include rising expenditure by governments and people on healthcare, increasing funding from government and continuous improvements in the field of medicine have all contributed positively to the ophthalmology market.
However, there are a few hurdles. The market has to overcome for its healthy growth which includes lack of insurances for healthcare in the developing countries, lack of knowledge about diseases like glaucoma and poor infrastructure in healthcare.
This research report segmented and sub-segmented into the following categories:
Regional Analysis
In the Asia Pacific, China combined with India together are accounting for the majority of the market shares in this region. Japan is estimated to grow at a robust CAGR during the forecast period.
Chinese ophthalmology devices market is predicted to hold largest market share in this region due to the increasing geriatric population base is expanding and is more responsive towards developing eye diseases along with increasing technological advancement in this region. In December 2018, Novartis AG launched of iLux Device which is used in the customizable treatment for the dysfunction of the meibomian gland.
Indian ophthalmology devices market is showing significant growth rate in the Asia Pacific during the forecast period. The Indian market growth is strongly driven by the incorporation of innovative reimbursement models for ophthalmologic treatments in India and the strict regulatory framework that are focus on patients’ safety. According to the WHO, In India, glaucoma is the leading cause of irreversible blindness with at least 12 million people suffered and around 1.2 million people blind from the disease, which is estimated to propel the ophthalmic device market growth in India.
Prominent companies in the APAC Ophthalmology Device Market profiled in this report are Johnson & Johnson, Abbott Medical Optics Inc., Carl Zeiss Meditec, Hoya Corporation, Essilor International, Alcon Inc., Topcon Corporation, HAAG-Streit Group, Ziemer Ophthalmic System, Bausch and Lomb Inc. and Nidek Co Ltd.
1. Introduction
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
2.1 Introduction
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. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
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 By Application
5.1.1 Diagnostics & Monitoring devices
5.1.2 Surgery Devices
5.1.3 Vision Care Devices
5.2 By Disorders
5.2.1 Cataract
5.2.2 Glaucoma
5.2.3 Refractor disorders
5.2.4 Vitreo retinal disorder
5.3 By Device
5.3.1 Canaloplasty devices
5.3.2 Computerized Field Analyser
6. Geographical Analysis
6.1 Introduction
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
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 Johnson & Johnson
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Alcon Inc.,
8.3 Abbott Medical Optics Inc.
8.4 Essilor International
8.5 Bausch and Lomb Inc.
8.6 Topcon Corporation
8.7 Nidek CO Ltd.
8.8 HAAG-Streit Group
8.9 Carl Zeiss Meditec
8.10 Hoya Corporation
8.11 Ziemer Ophthalmic System
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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Aug 2019
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