Ophthalmology is a branch of science that is concerned with the physiology, life structures, and infection of the eye. Ophthalmic optics and instruments such as contact lenses, intraocular lenses, spectacles lenses, refractive surgery, etc. are used for the testing and surgery of eye. Due to technological advancement, today ophthalmic optics and instrument play a very vital role in vision restoration of eye in all age people.
Based on device type, the global ophthalmic optics and instrument market can be segmented into surgery devices, diagnostic devices, and vision care. The diagnostic devices segment is projected to grow at a rapid pace during the forecast period due to increase in demand for eye testing to confirm eye diseases. The surgery devices segment can be categorized into cataract surgery devices, vitreoretinal surgery devices, refractive surgery devices, and glaucoma surgery devices. The diagnostic devices segment can be classified into keratometers, optical coherence tomography systems, tonometers, slit lamps, fundus cameras, autorefractometers, fluorescein angiography, perimeters, pachymeters, specular microscopes, corneal topographers, gonioscopes, ophthalmic echography, and others. The vision care segment can be bifurcated into spectacle lenses and contact lenses. In terms of end-user, the global market can be segmented into eye hospitals and eye clinics. The eye hospitals segment is likely to dominate the market during the forecast period, due to increase in patient preference to visit eye hospitals because of the availability of advanced instruments and favorable reimbursement.
Rise in demand for minimally invasive eye surgeries among eye patients is a major factor that drives the global ophthalmic optics and instrument market. Technological advancements in instruments and increase in geriatric population with eye diseases are the other factors fueling the growth of the global ophthalmic optics and instrument market. However, cost of the treatment as well as instruments is likely to to hamper the market during the forecast period.
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In terms of region, the global ophthalmic optics and instrument market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the global market. It is projected to account for a significant share of the global market during the forecast period, due to quick adoption rate of advanced instruments and presence of well-trained ophthalmologists in the region. Moreover, increase in awareness among the patient population and rise in prevalence of cataract surgeries are the others factors expected to drive the market in North America. Adoption of advanced ophthalmic optics and instrument is quite high in Europe due to increase in demand for minimally invasive eye surgeries and surge in awareness among people about the need for regular eye checkups. This is expected to drive the market in Europe. Increase in the geriatric population which is more prone to eye disorders in countries such as China, Vietnam, and Japan, and rise in adoption of advanced devices for testing by health care systems in the region are likely to fuel the market in Asia Pacific from 2018 to 2026. Increase in demand for minimally surgeries and rise in prevalence of eye diseases are the key factors likely to augment the market in Middle East & Africa during the forecast period.
Major players operating in the global ophthalmic optics and instrument market are Carl Zeiss Meditec AG, Alcon, Inc., Haag-Streit AG, Topcon Corporation, Ziemer Ophthalmic Systems AG, Bausch Health Companies, Inc., and STAAR SURGICAL, among others.