HOME › Research Insight › Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., and Bausch & Lomb, Inc. Dominate the Global Ophthalmology Devices Market
Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., and Bausch & Lomb, Inc. Dominate the Global Ophthalmology Devices Market
The global ophthalmology devices market is an oligopolistic market with a few players accounting for the majority of market share. Alcon Inc. (Switzerland), Essilor International S.A. (France), Johnson & Johnson (U.S.), Abbott Medical Optics Inc. (U.S.), and Bausch & Lomb Inc. (U.S.) are the major players in this market. These players accounted for a combined market share of 69.5% in 2015. A majority of the leading players in this market are based in developed countries across North America and Europe.
Essilor International S.A. (France) held the leading position in the ophthalmology devices market in 2015. Its leading position in this market can be attributed to its highly diversified ophthalmology devices portfolio which includes products for patients suffering from myopia, hypermetropia, presbyopia, and stigmatism. The company markets its products under various flagship brands, such as Varilux, Crizal, Transitions, Eyezen, Xperio, Foster Grant, Bolon, and Costa. Moreover, the company has a wide geographic presence across Europe, Latin America, North America, Asia, and the Middle East and Africa, which enables it to cater to customers across the globe. The company has adopted various strategies such as acquisitions, agreements, partnerships, and expansion to increase its market share in the ophthalmology devices market. For instance, in February 2016, Essilor International acquired Vision Direct Group Ltd. (England). This acquisition will strengthen Essilorís position in online optical retail in the European market.
Alcon Inc. (Switzerland) is another leading company in the global ophthalmology devices market. The company ophthalmology products under two devices segments, namely, Surgical and Vision Care. The company has a strong focus on research and development to enhance its existing products and bring new products to the market. Alcon offers its products across 180 countries, with operations in 75 countries across the globe. The company has adopted new product launches as the key strategy followed by acquisitions, to maintain its leading position and increase its market share. For instance, in November 2015, the company launched Contoura Vision, a topography-guided LASIK treatment product, to strengthen its WaveLight refractive portfolio.
In the past three years, a majority of the top players adopted new product launches; agreements, collaborations, and partnerships; geographic expansions; and mergers and acquisitions as their key growth strategies.
New product launches was the major strategy adopted by key players in the ophthalmology devices market. For instance, in February 2016, Bausch & Lomb launched Bausch + Lomb ULTRA lenses for patients with presbyopia. The new lenses are designed with MoistureSeal technology to offer a higher-level of wearing comfortability to presbyopic patients. Similarly, in February 2016, Topcon Corporation added the OCT Angiography SS OCT Angio to its Swept Source OCT DRI OCT Triton series system to aid in the efficiency and clinical advancement of ophthalmic diagnostics.
Ophthalmology Devices Market (Optical Coherence Tomography (OCT), Fundus Camera, Ophthalmoscope, Tonometer, Phoropter, Slit Lamp, IOLs, Phacoemulsification, Excimer Laser, Femtosecond Laser, Contact Lenses) - Market Share Analysis & Global Forecasts to 2021
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