The report studies the ophthalmology devices market by diagnostic devices and surgical devices. This market is expected to witness significant growth due to the increasing incidence and prevalence of eye related disorders such as presbyopia, macular degeneration, and diabetic retinopathy among the aging population. With the introduction of ophthalmic devices equipped with sophisticated technologies, people are increasingly opting for ophthalmic surgeries to correct their eye related disorders.
Ophthalmology devices cover major eye problems such as cataract, refractive error, and other retinal disorders. Many a times, surgical correction for refractive errors is not reimbursed and patients pay out of pocket; hence a high level of disposable income is an important factor to drive this market.
U.S. is the largest contributing region to this market; however its share is expected to be cannibalized by Asia in the coming five years.
The cataract devices market includes intraocular lenses and phacoemulsification devices, the refractive error devices include excimer lasers and contact lenses; contact lenses is the largest contributing segment of the ophthalmic diagnostics and surgical devices followed by surgical equipment.