As per our report, the size of the North America Ophthalmic Devices Market has been calculated at USD 13.44 billion in 2022. It is forecasted to be growing at a CAGR of 5.8% and worth USD 17.81 billion by 2027.
The rise in the growing population across the region with the increase in the prevalence of ophthalmic diseases such as cataracts and glaucoma in the rising geriatric population is driving the ophthalmic devices market in the North American region. Also, an increase in the prevalence of chronic diseases such as cancer and diabetes due to the constant changes environment and unhealthy lifestyles are driving the market's growth.
In addition, the increase in the new advancements and innovations in the technology such as laser treatments as an excimer laser, femtosecond laser is providing significant growth opportunities for the market growth. Furthermore, other factors, such as the growing awareness of the presence of various therapy available in the market, such as spectacles, contact lenses, are increasing the demand for ophthalmic devices to expand the market growth.
Furthermore, increasing initiatives and investments from the government and non-government in the research processes with the rise in the raising awareness among the people about the presence of preventive treatments and procedures available in the market are driving the factors for the market's growth. Moreover, growing competition between market players is encouraging the market players to dominate the market by adopting various marketing strategies that drive market growth.
The increase in the high costs of the treatment and ophthalmic devices is due to the advancements and development in the technology with the improved and convenient introduction of the products in the market, limiting the growth rate of the ophthalmic devices market in the North American region, as well as the lack of awareness about various diseases related to ophthalmic among people, is affecting the development of the market. Also, due to strict rules and regulations for the approval processes and stringent government policies and guidelines that make the entry of the product more complicated, these processes are very tedious and time-consuming and hamper the market's growth.
This research report on the North American ophthalmic devices market report has been segmented and sub-segmented into the following categories.
By End Users:
Geographically, the North American ophthalmic devices market is estimated to hold a significant share in the global market during the forecast period. The regional market growth is attributed to the presence of well-equipped health care infrastructure and availability of the state of art research facilities. In addition, the increasing prevalence of eye-related diseases is a significant factor responsible for the growth of the market in the North American region. Other factors responsible for the market growth are increasing geriatric populations and the technological advancements in recent.
The United States ophthalmic devices market is anticipated to account for the large share of the North American market during the forecast period. The market growth is driven by increasing healthcare expenditure, favorable reimbursement policies, and technological advancements in the healthcare sector. In addition, the major companies in the US are also focusing more and more on research and development, which is expected to provide lucrative growth opportunities for market growth.
The Canadian ophthalmic devices market is forecasted to showcase a healthy CAGR from 2022 to 2027 due to the increasing geriatric populations, which are more susceptible to eye diseases, and supportive government policies.
KEY MARKET PLAYERS:
A few of the prominent companies operating in the North America ophthalmic devices market covered in this 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
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
6.1.4 Market Attractiveness 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
6.1.5 Market Share 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
6.2 United States
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
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