Ophthalmic Surgical Devices Market 2021 Global Analysis, Potential Growth, Key Players, Latest Trends

 

The global “ophthalmic surgical devices” market size is anticipated to reach USD 12.75 billion by 2026, registering a CAGR of 4.8% during the forecast period. Rising prevalence of cataract is one of the key factors fueling this market. The World Health Organization (WHO) defines cataract as “clouding of the lens of the eye which impedes the passage of light”. The WHO estimates that currently there are approximately 18 million around the world that are blind in both eyes due either to improper surgery or inaccessibility to advanced procedures. While this eye condition mostly occurs as a person ages, the WHO claims that other risk factors such as diabetes, exposure to UV light, and smoking are fast emerging as major grounds for cataract. Moreover, the International Agency for the Prevention of Blindness (IAPB) states that blindness from cataract is around 5% in developed countries and 50% in developing and underdeveloped nations. Increasing demand for ocular treatments from emerging economies is, therefore, expected to lead the ophthalmic surgical devices market trends in the upcoming decade. 

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/ophthalmic-surgical-devices-market-102054 

\Patient-friendly Healthcare Policies to Propel the Market in North America

North America is predicted to dominate the ophthalmic surgical devices market share over the forecast period, having generated a revenue of USD 2.82 billion in 2018. The most favorable factor for the market here is the convenient nature of healthcare policies. Apart from this, increasing prevalence of cataract, glaucoma, and refractive errors, along with strong presence of other risk factors such as smoking and diabetes, will also further the growth of the market in North America.

Asia-Pacific is expected to significantly contribute to the ophthalmic surgical instrument market revenue owing to the rising number of aging people in China and Japan and growing incidence of ocular disorders. In Europe, the market will be driven by active adoption of advanced diagnostic and surgical procedures.

 

Interesting New Product Launches to Fire up Competitive Spirits

The ophthalmology surgical devices market analysis points towards a period of fierce competition in this market as key players introduce novel products to strengthen their hold on the market. Additional encouragement is being provided by timely regulatory approvals to innovative offerings. 

 

 


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