Vision defects and other infections may lead to a complete loss of
vision. Thus, a number of ophthalmological diagnostic and surgical
treatment devices play a major role in avoiding the loss of vision
and in enhancing the quality of life of people. These devices help
ophthalmologists to view the internal eye in detail and in examining
the microvasculature of the eye. This helps in accurate diagnosis of
the ophthalmic condition. After the diagnosis, patients are
prescribed vision care products in case of refractive errors and in
severe conditions, surgeries are conducted.
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As per the report, the increasing aging population and the rising
occurrence of ocular disorders are amongst the major factors
propelling the growth of the market. In addition, the increasing
penetration of new technologies is also augmenting the development of
the market for ophthalmology diagnostics and surgical devices.
Furthermore, promising growth opportunities within developing
economies will also boost the market. On the other hand, the soaring
costs of hi-tech ophthalmology devices and the reduced
standardization are amongst the chief factors impeding the growth of
the market.
In terms of product, the report segments the market into diagnostic
devices, vision care, and ophthalmology surgery devices. Diagnostic
devices are further segmented into slit lamps, autorefractometers,
tenometers, fundus cameras, ophthalmoscopes, fluorescein angiography,
ophthalmic echography (ultrasound), optical coherence tomography
(oct) systems, gonioscopes, keratometers, pachymeters, corneal
topographers, perimeters, specular microscopes, corneal topographers,
and others. Ophthalmology surgery devices are further segmented into
refractive, cataract, vitreoretinal, and glaucoma surgery devices.
Vision care is further segmented into spectacle lenses and contact
lenses.
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Amongst the product segments, the segment of vision care held the
largest share in the market in 2012 and will expand at a 7.10% CAGR
from 2013 to 2019. This is owing to the large consumer base globally,
increasing count of software applications, and the rising occurrence
of ophthalmic refractive errors. On the other hand, the segment of
ophthalmology surgery devices is also experiencing enormous
development. In terms of application, the market is segmented into
surgical, diagnostics, and vision care.
On the basis of geography, the report segments the market into
Europe, Asia Pacific, North America, and Rest of the World (RoW).
Amongst these, Europe and North America led the market by
constituting a share of over 55% in the market. This is owing to the
availability and acceptability of technological advancement, a large
pool of skilled ophthalmology professionals, and enhanced healthcare
policies within these two regions. On the other hand, Asia Pacific is
predicted to register the fastest growth rate due to the increasing
initiatives taken by governments within Asia Pacific countries.
As per the report, the key players in the market are Abbott Medical
Optics, Alcon Laboratories (Novartis), and Topcon Corporation, among
others.
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