Ophthalmic Devices Market: Current Analysis and Forecast (2020-2026)

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Emphasis on Product [Vision Care (Spectacles, Contact Lens), Surgery Devices (Cataract, Glaucoma, Refractive, Vitreoretinal, and Other Surgery Devices), Diagnostic and Monitoring Devices (Optical Coherence Tomography Scanner, Fundus Camera, Tonometer, Perimeter, Optical Biometry, Ophthalmic Operating Microscopes, Slit Lamp, Autorefractors, Other Diagnostics & Monitoring Devices), Disease Area (Cataract, Glaucoma, Age Related Macular Diseases, Diabetic Retinopathy, Others), End Users (Hospitals, Ophthalmic Clinics, Ambulatory Surgery Centers, Optical Centers) and Region/Country

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346

Table:

140

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245

Report ID:

UMHE20169

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Clear
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Report Description
Table of content
Research Methodology

Report Description

Ophthalmic Devices derived revenue of US$ 31,856.4 million in 2019 and are expected to fetch US$ 46,337.4 million by 2026 displaying significant CAGR of 5.2% over the forecast period (2021-2026). With the introduction of the ophthalmic devices incorporating these sophisticated technologies, people are increasingly opting for ophthalmic surgeries to correct their eye-related disorders. A growing number of people are receiving ophthalmic prostheses due to the aging population and the increasing prevalence of ophthalmic conditions. Of those with visual impairment or blindness, the five major eye conditions such as cataract, macular degeneration, glaucoma, diabetic eye disease, and refractive error account for approximately three-quarters of all cases. In recent years, the growing disposable income has encouraged people to buy quality eyewear products that are in perfect amalgamation with their increasing living standards. Moreover, people are now opting for trendy and designer sunglasses according to the latest trends prevailing in the market.

Population aging is one of the major factors that is responsible for the increase in the incidence and prevalence of patients suffering from eye defects. Statistics reveal that 65% of those with visual impairment and 82% of those who are blind are over 50 years old. As per the United Nations, Population aging refers to the change in the composition of a population such that there is an increase in the proportion of older persons. Growth in certain regions and countries is decelerating whereas population aging is accelerating. As per WHO lifestyle changes and urbanization – will also dramatically increase the number of people with eye conditions, vision impairment, and blindness in the coming decades. Myopia is one such condition which is a major public health concern in several East Asian countries, where the condition affects 80% to 90% of high school graduates. Ophthalmology and its subspecialties have been at the forefront of medical innovation and have embraced the rapid advances in several technologies, including pharmacology, imaging, data processing, and devices. Technological innovations in ophthalmology provide ophthalmologists with new ways to improve the quality of care. Scientific and technological advances have also opened a wide range of clinical and research opportunities in the field of eye care.

  Population Affected with Vision Impairment

Essilor International S.A., Bausch Health Companies, Ellex Medical Lasers, Second Sight Medical Products, Hoya Corporation, Alcon, Johnson & Johnson, Carl Zeiss Meditec AG, Escalon Medical Corp., Topcon Corporation, Nidek Co., Staar Surgical, Lumenis, Glaukos Corporation, and Vision Care are some of the prominent players operating in the global ophthalmic devices market. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Insights Presented in the Report

 “Amongst product type, vision care devices segment holds the major share”

Based on product type, the market is fragmented into vision care devices, surgery devices, and diagnostic and monitoring. The vision care devices dominated the market with a share of 79.2% in 2019 and are expected to maintain their dominance during the forecast period owing to the increasing usage of electronic devices such as mobiles, PCs, and laptops which results in various eye-related defects.

“Amongst vision care products, spectacles sub-segment dominated the market in 2019”

The vision care segment is further subdivided into spectacles and contact lenses. Spectacles dominated the market with a share of 81.6% in 2019 and are expected to maintain its dominance during the forecast period owing to the increasing age, which is probably due to the increased need for presbyopic and post-cataract surgery refractive correction. The current use of spectacles also increased with increasing socioeconomic status possibly related to the increased level of education. However, the contact lenses segment is anticipated to witness the highest CAGR during the forecast period (2021-2026).

“Amongst surgery devices segment, cataract surgery devices segment is expected to dominate the market during the analyzed period”

Based on the surgery devices, the market is bifurcated into cataract surgery devices, glaucoma surgery devices, refractive surgery devices, vitreoretinal surgery devices, and other surgery devices. The cataract surgery devices dominated the market with a share of 66.8% in 2019 and are expected to maintain its dominance during the forecast period owing to the most frequent surgical procedure being performed in many developed countries, providing significant, long-term, and cost-effective improvements in the quality of life for patients of all ages. However, glaucoma surgery devices are anticipated to witness the highest CAGR during the analyzed period.

“Amongst ophthalmic diagnostic and monitoring devices type, optical coherence tomography/scanning laser ophthalmoscopy dominated the market in 2019”

Based on the ophthalmic diagnostic and monitoring devices type, the market is segmented into optical coherence tomography/scanning laser ophthalmoscopy, fundus camera, tonometer, perimeter, optical biometry, ophthalmic operating microscopes, slit lamp, autorefractors, and other diagnostic and monitoring devices. In 2019, optical coherence tomography/scanning laser ophthalmoscopy accounted for 18% of market revenue share and dominated the market. The segment is most commonly utilized in the clinic to diagnose retinal diseases. OCT has become essential in ophthalmology, offering a superior resolution of the retina and some of the adjacent tissues for diagnosis and treatment of eye diseases. New OCT modalities have now been assimilated into ophthalmic oncology to help track the status of ocular and periocular tumors through retinal symptoms.

“Amongst disease area, cataract is expected to dominate the market during the analyzed period”

Based on the disease area, the market is fragmented into a cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, and others. In 2019, the cataract accounted for the maximum market share with 28.5% and is expected to be the leading segment of the ophthalmic devices market during the forecast period. According to the latest assessment by WHO, cataract is responsible for approximately 51% of world blindness, which represents about 20 million people. Although cataracts can be surgically removed, barriers exist in many countries that prevent patients to access surgery. However, Diabetic retinopathy is expected to witness the highest CAGR growth during the forecast period 2021-2026.

“Amongst end-users, optical centers dominated the market in 2019”

Based on end-users, the ophthalmic devices market is fragmented optical centers, hospitals, ophthalmic clinics, and ambulatory surgery centers. In 2019, optical centers accounted for 47.2% of market revenue share and dominated the market. However, the ophthalmic clinic segment is anticipated to witness the highest CAGR during the forecast period.

“North America represents one of the largest markets of ophthalmic devices market”

For a better understanding of the market dynamics of the ophthalmic devices market, a detailed analysis was conducted for different regions across the globe including North America (US, Canada, and Rest of North America), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and Rest of the World has been conducted. North America dominated the market and generated revenue of US$ 10,826.2 million in 2019 owing to the rising prevalence of ocular disorders, growth in the geriatric population, increase in healthcare expenditure, and technological advancements in ophthalmic devices. Approximately 11 million Americans aged 12 years and older could improve their vision through proper refractive correction.

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  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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  1.1Market Definition  
  1.2Objective of the Study 
  1.3Limitation  
  1.4Stakeholders  
  1.5Currency used in the Report 
  1.6Scope of the Global Ophthalmic Devices Market Study
  2.1Research Methodology for Global Ophthalmic Devices Market Study
   2.1.1Main objective of the Global Ophthalmic Devices Market Study
  5.1General Overview  
   5.1.1Key Facts on the state of the world’s eyesight
   5.1.2Improving the world’s Eyesight; the Goals of Vision 2020
  6.1General Overview  
  6.2Case Study: Ophthalmology Lost More Patient Volume Due to COVID-19 Than Any Other Specialty in United States
  6.3Case Study: Effect of COVID-19 related lockdown on ophthalmic practice and patient care in India
  6.4Conclusion
  7.1Market Introduction 
  7.2Market Dynamics  
   7.2.1Market Drivers 
    7.2.1.1Accelerating Geriatric Population
     7.2.1.1.1Some of the Key Facts regarding Ageing and health
    7.2.1.2Growing Number of Eye Defects
    7.2.1.3Increasing Demand of Minimally Invasive Surgical Procedures
    7.2.1.4Increasing Prevalence of Eye Related Diseases Such as Glaucoma, Cataract, and Others
    7.2.1.5Technological Advancements in Developed Regions
    7.2.1.6Rise in Global Adoption of Contact Lenses and Spectacles
   7.2.2Market Restraints 
    7.2.2.1Complications Associated with Eye Surgeries
    7.2.2.2Reimbursement Policies for Ophthalmic Surgical Procedures
    7.2.2.3Lack of Awareness and Accessibility to Eye Care in Developing Countries
   7.2.3Market Opportunity
    7.2.3.1Programs and Initiatives Worldwide to Reduce the Burden of Eye Related Diseases
    7.2.3.2Adoption of Intraocular Lens Technology
  8.1General Overview  
   8.1.1Codes changes in Ophthalmic Surgery in 2020

 

  9.1General Overview  
  9.2Pre-clinical studies for contact lens and care solutions approval
  9.3China   
  9.4Australia
  10.1Demand Side Analysis 
  10.2Supply Side Analysis 
   10.2.1Top Product Launches under Ophthalmic Devices
   10.2.2Top Partnerships under Ophthalmic Devices
   10.2.3Top Mergers & Acquisitions under Ophthalmic Devices
   10.2.4Top Business Expansion & Investment under Ophthalmic Devices

 

 11.1Value Chain Analysis

 

  12.1General Overview  
  12.2Vision Care  
   12.2.1Spectacles 
   12.2.2Contact Lens 
  12.3Surgery Devices  
   12.3.1Cataract Surgery Devices
   12.3.2Glaucoma Surgery Devices
   12.3.3Refractive Surgery Devices
   12.3.4Vitreoretinal Surgery Devices
   12.3.5Other Surgery Devices
  12.4Diagnostic and Monitoring Devices
   12.4.1Optical Coherence Tomography Scanner
   12.4.2Fundus Camera 
   12.4.3Tonometer 
   12.4.4Perimeter 
   12.4.5Optical Biometry 
   12.4.6Ophthalmic Operating Microscopes
   12.4.7Slit Lamp  
   12.4.8Autorefractors 
   12.4.9Other Diagnostics & Monitoring Devices

 

  13.1General Overview  
   13.1.1Cataract  
   13.1.2Glaucoma 
   13.1.3Age Related Macular Diseases
   13.1.4Diabetic Retinopathy
   13.1.5Others 
  14.1General Overview  
   14.1.1Hospitals  
   14.1.2Ophthalmic Clinics 
   14.1.3Ambulatory Surgery Centers
   14.1.4Optical Centers
   15.3.1Europe Ophthalmic Devices Market by Product Type
    15.3.1.1Europe Ophthalmic Vision Care Devices Market Size, by Product Subtypes
    15.3.1.2Europe Ophthalmic Surgery Devices Market Size, by Product Subtypes
    15.3.1.3Europe Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
   15.3.2Europe Ophthalmic Devices Market Size by Disease Area
   15.3.3Europe Ophthalmic Devices Market Size by End-Users
   15.3.4Europe Ophthalmic Devices Market by Country
    15.3.4.1France Ophthalmic Devices Market
     15.3.4.1.1France Ophthalmic Devices Market by Product Type
     15.3.4.1.2France Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.3.4.1.3France Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.3.4.1.4France Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.3.4.1.5France Ophthalmic Devices Market Size by Disease Area
     15.3.4.1.6France Ophthalmic Devices Market Size by End-Users
    15.3.4.2Germany Ophthalmic Devices Market
     15.3.4.2.1Germany Ophthalmic Devices Market by Product Type
     15.3.4.2.2Germany Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.3.4.2.3Germany Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.3.4.2.4Germany Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.3.4.2.5Germany Ophthalmic Devices Market Size by Disease Area
     15.3.4.2.6Germany Ophthalmic Devices Market Size by End-Users
    15.3.4.3Italy Ophthalmic Devices Market
     15.3.4.3.1Key Facts of Healthcare Spending – Italy in 2018, by Region
     15.3.4.3.2Italy Ophthalmic Devices Market by Product Type
     15.3.4.3.3Italy Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.3.4.3.4Italy Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.3.4.3.5Italy Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.3.4.3.6Italy Ophthalmic Devices Market Size by Disease Area
     15.3.4.3.7Italy Ophthalmic Devices Market Size by End-Users
    15.3.4.4Spain Ophthalmic Devices Market
     15.3.4.4.1Spain Healthcare Expenditure Statistics
     15.3.4.4.2Spain Ophthalmic Devices Market by Product Type
     15.3.4.4.3Spain Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.3.4.4.4Spain Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.3.4.4.5Spain Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.3.4.4.6Spain Ophthalmic Devices Market Size by Disease Area
     15.3.4.4.7Spain Ophthalmic Devices Market Size by End-Users
    15.3.4.5United Kingdom Ophthalmic Devices Market
     15.3.4.5.1United Kingdom – Healthcare Expenditure
     15.3.4.5.2United Kingdom Ophthalmic Devices Market by Product Type
     15.3.4.5.3United Kingdom Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.3.4.5.4United Kingdom Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.3.4.5.5United Kingdom Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.3.4.5.6United Kingdom Ophthalmic Devices Market Size by Disease Area
     15.3.4.5.7United Kingdom Ophthalmic Devices Market Size by End-Users
    15.3.4.6Rest of Europe Ophthalmic Devices Market
     15.3.4.6.1Rest of Europe Ophthalmic Devices Market by Product Type
     15.3.4.6.2Rest of Europe Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.3.4.6.3Rest of Europe Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.3.4.6.4Rest of Europe Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.3.4.6.5Rest of Europe Ophthalmic Devices Market Size by Disease Area
     15.3.4.6.6Rest of Europe Ophthalmic Devices Market Size by End-Users
  15.4Asia Pacific Ophthalmic Devices Market
   15.4.1Asia-Pacific Ophthalmic Devices Market by Product Type
    15.4.1.1Asia-Pacific Ophthalmic Vision Care Devices Market Size, by Product Subtypes
    15.4.1.2Asia-Pacific Ophthalmic Surgery Devices Market Size, by Product Subtypes
    15.4.1.3Asia-Pacific Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
   15.4.2Asia-Pacific Ophthalmic Devices Market Size by Disease Area
   15.4.3Asia-Pacific Ophthalmic Devices Market Size by End-Users
   15.4.4Asia-Pacific Ophthalmic Devices Market by Country
    15.4.4.1Japan Ophthalmic Devices Market
     15.4.4.1.1Japan Ophthalmic Devices Market by Product Type
     15.4.4.1.2Japan Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.4.4.1.3Japan Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.4.4.1.4Japan Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.4.4.1.5Japan Ophthalmic Devices Market Size by Disease Area
     15.4.4.1.6Japan Ophthalmic Devices Market Size by End-Users
    15.4.4.2China Ophthalmic Devices Market
     15.4.4.2.1China Ophthalmic Devices Market by Product Type
     15.4.4.2.2China Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.4.4.2.3China Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.4.4.2.4China Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.4.4.2.5China Ophthalmic Devices Market Size by Disease Area
     15.4.4.2.6China Ophthalmic Devices Market Size by End-Users
    15.4.4.3South Korea Ophthalmic Devices Market
     15.4.4.3.1South Korea Ophthalmic Devices Market by Product Type
     15.4.4.3.2South Korea Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.4.4.3.3South Korea Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.4.4.3.4South Korea Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.4.4.3.5South Korea Ophthalmic Devices Market Size by Disease Area
     15.4.4.3.6South Korea Ophthalmic Devices Market Size by End-Users
    15.4.4.4India Ophthalmic Devices Market
     15.4.4.4.1India Ophthalmic Devices Market by Product Type
     15.4.4.4.2India Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.4.4.4.3India Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.4.4.4.4India Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.4.4.4.5India Ophthalmic Devices Market Size by Disease Area
     15.4.4.4.6India Ophthalmic Devices Market Size by End-Users
    15.4.4.5Rest of Asia-Pacific Ophthalmic Devices Market
     15.4.4.5.1Rest of Asia-Pacific Ophthalmic Devices Market by Product Type
     15.4.4.5.2Rest of Asia-Pacific Ophthalmic Vision Care Devices Market Size, by Product Subtypes
     15.4.4.5.3Rest of Asia-Pacific Ophthalmic Surgery Devices Market Size, by Product Subtypes
     15.4.4.5.4Rest of Asia-Pacific Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
     15.4.4.5.5Rest of Asia-Pacific Ophthalmic Devices Market Size by Disease Area
     15.4.4.5.6Rest of Asia-Pacific Ophthalmic Devices Market Size by End-Users
  15.5Rest of World Ophthalmic Devices Market
   15.5.1Rest of World Ophthalmic Devices Market by Product Type
    15.5.1.1Rest of World Ophthalmic Vision Care Devices Market Size, by Product Subtypes
    15.5.1.2Rest of World Ophthalmic Surgery Devices Market Size, by Product Subtypes
    15.5.1.3Rest of World Ophthalmic Diagnostic and Monitoring Devices Market Size, by Product Subtypes
   15.5.2Rest of World Ophthalmic Devices Market Size by Disease Area
   15.5.3Rest of World Ophthalmic Devices Market Size by End-Users

 

  16.1Porter’s Five forces analysis 
   16.1.1Bargaining power of the Supplier
   16.1.2Bargaining power of Buyer
   16.1.3Industry Rivalry 
   16.1.4Availability of Substitute
   16.1.5Threat of New Entrants
  16.2Market Share Analysis, by Company 2019
   16.2.1Market Share of Key Players in Ophthalmic Devices, 2019

 

  17.1Essilor International S.A. 
   17.1.1Key Facts  
   17.1.2Business Description
   17.1.3Key Product/Services Offerings
   17.1.4Growth Strategy 
   17.1.5SWOT Analysis 
   17.1.6Key Financials 
    17.1.6.1Revenue Split, by Region and Segment
   17.1.7Recent Developments
    17.1.7.1Business Expansions Essilor International
  17.2Bausch Health Companies Inc. 
   17.2.1Key Facts  
   17.2.2Business Description
   17.2.3Key Product/Services Offerings
   17.2.4Growth Strategy 
   17.2.5SWOT Analysis 
   17.2.6Key Financials 
    17.2.6.1Revenue Split, by Region and Segment
   17.2.7Recent Developments
    17.2.7.1Product Launches
    17.2.7.2Partnerships
    17.2.7.3Business Expansions and Investment
    17.2.7.4Mergers and Acquisitions
  17.3Ellex Medical Lasers  
   17.3.1Key Facts  
   17.3.2Business Description
   17.3.3Key Product/Services Offerings
   17.3.4Growth Strategy 
   17.3.5SWOT Analysis 
   17.3.6Key Financials 
    17.3.6.1Revenue Split, by Region and Segment
   17.3.7Recent Developments
    17.3.7.1Product Launches
    17.3.7.2Merger and Acquisition
  17.4Escalon Medical Corp 
   17.4.1Key Facts  
   17.4.2Business Description
   17.4.3Key Product/Services Offerings
   17.4.4Growth Strategy 
   17.4.5SWOT Analysis 
   17.4.6Key Financials 
    17.4.6.1Revenue Split, by Region and Segment
   17.4.7Recent Developments
    17.4.7.1Product Launches
  17.5Second Sight Medical Products Inc.
   17.5.1Key Facts  
   17.5.2Business Description
   17.5.3Key Product/Services Offerings
   17.5.4Growth Strategy 
   17.5.5SWOT Analysis 
   17.5.6Key Financials 
    17.5.6.1Revenue Split, by Region and Segment
   17.5.7Recent Developments
    17.5.7.1Product Launches
    17.5.7.2Partnerships
    17.5.7.3Business Expansions and Investment
  17.6Hoya Corporation  
   17.6.1Key Facts  
   17.6.2Business Description
   17.6.3Key Product/Services Offerings
   17.6.4Growth Strategy 
   17.6.5SWOT Analysis 
   17.6.6Key Financials 
    17.6.6.1Revenue Split, by Region and Segment
   17.6.7Recent Developments
    17.6.7.1Product Launches
    17.6.7.2Partnerships
    17.6.7.3Business Expansions and Investment
    17.6.7.4Mergers and Acquisitions
  17.7Alcon, Inc  
   17.7.1Key Facts  
   17.7.2Business Description
   17.7.1Key Product/Services Offerings
   17.7.2Growth Strategy 
   17.7.3SWOT Analysis 
   17.7.4Alcon, Inc Key Financials
    17.7.4.1Revenue Split, by Region and Segment
   17.7.5Recent Developments
    17.7.5.1Product Launches
    17.7.5.2Mergers and Acquisitions
  17.8Johnson & Johnson  
   17.8.1Key Facts  
   17.8.2Business Description
   17.8.3Key Product/Services Offerings
   17.8.4SWOT Analysis 
   17.8.5Key Financials 
    17.8.5.1Revenue Split
   17.8.6Recent Developments
    17.8.6.1Business Expansions and Investment
  17.9Carl Zeiss Meditec Ag 
   17.9.1Key Facts  
   17.9.2Business Description
   17.9.3Key Product/Services Offerings
   17.9.4Growth Strategy 
   17.9.5SWOT Analysis 
   17.9.6Key Financials 
    17.9.6.1Revenue Split, by Region and Segment
   17.9.7Recent Developments
    17.9.7.1Product Launches
    17.9.7.2Partnerships
    17.9.7.3Business Expansions and Investment
    17.9.7.4Mergers and Acquisitions
  17.10Topcon Corporation  
   17.10.1Key Facts  
   17.10.2Ownership Structure
   17.10.3Business Description
   17.10.4Key Product/Services Offerings
   17.10.5Growth Strategy 
   17.10.6SWOT Analysis 
   17.10.7Key Financials 
    17.10.7.1Revenue Split, by Region and Segment
   17.10.8Recent Developments
    17.10.8.1Product Launches
    17.10.8.2Partnerships
    17.10.8.3Business Expansions and Investment
    17.10.8.4Mergers and Acquisitions
  17.11NIDEK CO., LTD  
   17.11.1Key Facts  
   17.11.2Business Description
   17.11.3Key Product/Services Offerings
   17.11.4Growth Strategy 
   17.11.5SWOT Analysis 
   17.11.6Key Financials 
    17.11.6.1Revenue Split, by Region and Segment
   17.11.7Recent Developments
    17.11.7.1Product Launches
    17.11.7.2Business Expansions and Investment
  17.12STAAR Surgical  
   17.12.1Key Facts  
   17.12.2Business Description
   17.12.3Key Product/Services Offerings
   17.12.4Growth Strategy 
   17.12.5SWOT Analysis 
   17.12.6Key Financials 
   17.12.7Key Metrics 
    17.12.7.1Revenue Split, by Region and Segment
    17.12.7.2Financial Overview of Staar Surgical
   17.12.8Recent Developments
    17.12.8.1Partnerships
    17.12.8.2Mergers and Acquisitions
  17.13Lumenis   
   17.13.1Key Facts  
   17.13.2Business Description
   17.13.3Growth Strategy 
   17.13.4Overview of Lumenis
   17.13.5Recent Developments
    17.13.5.1Product Launches
    17.13.5.2Mergers and Acquisitions
  17.14Glaukos Corporation, CA 
   17.14.1Key Facts  
   17.14.2Business Description
   17.14.3Key Product/Services Offerings
   17.14.4Growth Strategy 
   17.14.5SWOT Analysis 
   17.14.6Key Financials 
    17.14.6.1Revenue Split, by Region and Segment
    17.14.6.2Financial Overview of Glaukos Corporation
   17.14.7Recent Developments
    17.14.7.1Partnerships
    17.14.7.2Business Expansions and Investment
    17.14.7.3Mergers and Acquisitions
  17.15VisionCare, Inc.  
   17.15.1Key Facts  
   17.15.2Business Description
   17.15.3Key Product/Services Offerings
   17.15.4Vision Care Inc Growth Strategy
   17.15.5SWOT Analysis 
   17.15.6Recent Developments
    17.15.6.1Business Expansions and Investment

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Ophthalmic Devices Market were the three major steps undertaken to create and analyze the adoption of Ophthalmic Devices across various industry verticals in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the ophthalmic devices sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Ophthalmic Devices through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Ophthalmic Devices market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the product, disease area, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of the ophthalmic devices in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Ophthalmic Devices. Further, we conducted factor analysis using dependent and independent variables such as the growth of the growing prevalence of eye disorders and the accelerating geriatric population. A thorough analysis was conducted for demand and supply-side scenario considering top partnerships, merger and acquisition, business expansion, and product launches in the Ophthalmic Devices industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Ophthalmic Devices market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down approach was applied to arrive at the market forecast about 2026 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Ophthalmic Devices across the major markets
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Ophthalmic Devices market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the ophthalmic devices market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, disease area, and end-users of the ophthalmic devices market.

The main objective of the Ophthalmic Devices Market Study

The current & future market trends of Ophthalmic Devices were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of Ophthalmic Devices in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of product, disease area, and end-users
  • Defined analysis of the regulatory framework for the ophthalmic devices industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Ophthalmic Devices for the major regions
  • Major regions studied in the report include North America (the United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of APAC), and Rest of the World
  • Company profiles of the Ophthalmic Devices market players and the growth strategies adopted by them to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry