(PRWEB) December 24, 2004
There are more than 3 billion people worldwide needing vision correction, and this number is growing rapidly as vision problems such as myopia reach epidemic proportions. According to a new global report series by Millennium Research Group (MRG), the global market for surgical ophthalmic devices will grow to $1.8 billion in 2008, driven largely by a growing interest in photorefractive procedures, especially in the developing Asian markets.
The advent of customized ablation and wavefront analysis technology will be the biggest driver in the photorefractive surgery market. The significance of this technology lies in the wider scope of refractive errors that can be identified and treated. With several companies obtaining approval for their customized ablation systems, the photorefractive surgery market will be one of the more dynamic segments of the surgical ophthalmic device market. Over the next four years, the global photorefractive surgery market (including photorefractive lasers and wavefront aberrometers) is forecast to grow to about $300 million, with the Asian segment experiencing the highest growth.
MRGÂs Global Markets for Ophthalmic Devices 2004 includes an analysis of the US, European, and Asian markets including key competitors. The series covers over 40 competitors including Advanced Medical Optics (AVO), Alcon Inc. (ACL), Bausch & Lomb Inc. (BOL), Carl Zeiss Meditec AG (CZMWF.PK), Iridex Corp. (IRIX), Lasersight Technologies, Lumenis Ltd. (LUME.PK), NIDEK, Staar Surgical (STAA), and VISX (EYE).
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
Millennium Research Group Inc.,
(416) 364-7776 ext. 121
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