Ophthalmic Instrumentation: A Global Strategic Business Report
San Jose, CA (Vocus) October 11, 2010
Global demographic trends spell opportunities for the ophthalmic market. By the year 2025, people aged 60 and above would constitute about 35% of the total global population. Old age brings with it certain unique problems, especially degeneration of visual faculties. Hence, with increase in the number of aging population, demand for cataract surgery products, and products related to other eye disorders are bound to increase. Regionally, opportunities are abound in developing regions such as Asia. More than half of the world’s population lives in Asia, with China and India accounting for over 50% of the regional population. The market for ophthalmic products is as yet unsaturated in Asia, wherein more than three fourths of the population in some countries requires vision correction treatments. All these factors offer significant market opportunities for manufacturers of ophthalmic instrumentation.
Europe represents the largest market worldwide for ophthalmic instrumentation, in volume terms, while the US takes the lead in terms of value sales, as stated by the new market research report on Ophthalmic Instrumentation. Easy accessibility and availability of new medical equipment to patients, the increasing contribution of employers as well as employees for the coverage of vision care, in addition to increasing incidence of vision problems, are the major market growth driving factors in the US ophthalmic instruments market. However, growth in demand is primarily expected to emanate from developing regions of the world, including the Asia-Pacific, the Middle East, and Latin America. Demand in Asia-Pacific is forecast to witness a compounded annual growth rate of more than 7.0% in unit terms over the analysis period.
Ophthalmic Diagnostic Devices represent the largest segment of the global ophthalmic instrumentation market. Demand for the smaller of the two segments, Ophthalmic Surgical Devices is forecast to rise to 18.5 thousand units by 2012. Ophthalmoscopes continue to lead the ophthalmic diagnostic device market in terms of units, followed by lens meters. Meanwhile, ophthalmic lasers leads in ophthalmic surgical devices segment in terms of dollar sales.
In terms of key market trends, minimally-invasive-surgery-based ophthalmic devices market demand is expected to record significant growth. The implantable device industry is expected to exceed the market share of ophthalmic drugs, glasses, and contact lenses. The upcoming trend and the key driver for innovations within the ophthalmology surgical equipment industry is the growing focus on several eye ailment sub-types clusters. The growing awareness among patients regarding the unique benefits of these surgeries is heralding significant growth potential for implantable devices. In recent times, there is a significant innovation in devices and procedures, and surgeries are slowly moving from invasive type to non-invasive, leading to lower patient distress. The ophthalmic device sector is headed towards new technologies-based products, for example LASIK, implantable retinal prosthetics, and accommodative lenses. These innovations are currently replacing the extensively used traditional treatment methods.
Major players in the Ophthalmic Instrumentation market profiled in the report include Abbott Medical Optics Inc., Alcon Laboratories, Bausch & Lomb Inc., Carl Zeiss Meditec AG, Ellex Medical Lasers Limited, Iridex Corp., Lumenis Ltd., Nidek Co. Ltd., Topcon Corp., and Topcon Medical Systems.
The report titled “Ophthalmic Instrumentation: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the ophthalmic instrumentation markets, current market trends, key growth drivers, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The study analyzes market data and analytics in terms of value and volume sales for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. A seven-year (2000-2006) historic analysis is provided for additional perspective. Key segments and sub-segments analyzed in the report 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 Microscopes).
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Ophthalmic_Instrumentation_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com/