Ophthalmic Equipment Market

Essilor International (France), Alcon (US), Johnson & Johnson Vision Care (US), HOYA (Japan), Bausch + Lomb (US), Carl Zeiss Meditec (Germany), and TOPCON (Japan) are Prominent Players in the Ophthalmic Equipment Market

The ophthalmic equipment market is expected to reach USD 58.44 Billion by 2023 from USD 49.30 Billion in 2018, at a CAGR of 3.5%. Rapid growth in the geriatric population and related increase in the prevalence of eye diseases, technological advancements in ophthalmic devices, increasing government initiatives to control visual impairment, and increasing adoption of contact lenses and spectacles are the factors contributing to the growth of this market.

The ophthalmic equipment market is fragmented with the presence of various companies in the market. Essilor International (France), Alcon (US), Johnson & Johnson Vision Care (US), HOYA (Japan), Bausch + Lomb (US), Carl Zeiss Meditec (Germany), and TOPCON (Japan) are the major players in this market. In the past three years, a majority of the top players adopted product launches, agreements, partnerships, collaborations, geographic expansions, and acquisitions as their key growth strategies. In the last three years, new product launches was the most adopted strategy by key market players to strengthen their product offerings and enhance their presence in the ophthalmic equipment market.

Essilor International is one of the leading players in the ophthalmic equipment market. The company offers a comprehensive portfolio for ophthalmic equipment including diagnostic devices and vision care products. Its products for eye diagnosis include slit lamps, tonometers, wave analyzers, auto kerato-refractometers, lensmeters, phoropters, and chart projectors for the diagnosis of eye disease. It also offers a range vision care products such as soft contact lenses and eyeglass lenses for presbyopia, astigmatism, and various other eye problems under its brands such as Varilux, Crizal, Crizal Prevencia, Eyezen, Xperio, Optifog, Bolon, Costa, Osse, Transitions, Foster Grant, and Kodak Lens. Essilor International has established a strong brand name and global distribution channel for its core ophthalmic lenses and equipment. The company mainly focuses on product launches, acquisitions, and agreements & partnerships to maintain its position in the market. For instance, in June 2017, the company launched a new progressive lens called Varilux X series to provide a quality vision for all active presbyopes. The company has a wide geographical reach with a strong presence in North America.

Alcon is another leading provider of eye care products across the globe. It provides a wide range of ophthalmology devices and instruments in the diagnostic, surgical, and vision care segments. Alcon offers the industry’s most complete line of ophthalmic surgical products, enabling surgeons to achieve the best results for their patients. The company’s surgical portfolio includes technologies and devices for cataract, retinal, glaucoma, and refractive surgery, as well as advanced technology intraocular lenses (ATIOLs) to treat cataracts and refractive errors, like presbyopia and astigmatism. It also provides advanced viscoelastics, surgical solutions, surgical packs, and other disposable products for cataract and vitreoretinal surgery. In addition, the company offers a large range of vision care products including various types of contact lenses. The well-diversified product portfolio offered by Alcon enables it to achieve a large share in the ophthalmology equipment market. The company focuses on launching innovative products to provide a comprehensive range of high-performance surgical instruments for eye surgeries. The company conducts research to design and produce new eye care products. It continuously focuses on investment in research and development (R&D) to expand its product portfolio. Alcon invested approximately USD 600 million in R&D during 2017, as compared to USD 486 million in 2016, which helped the company launch innovative products. For instance, in November 2017, Alcon launched its UltraSert pre-loaded intraocular lens delivery system for cataract patients.

Related Reports:

Ophthalmic Equipment Market by Product (Optical Coherence Tomography (OCT), Fundus Camera, Ultrasound, Ophthalmoscope, Phoropter, Slit Lamp, Perimeter, Keratometer, Tonometer, IOL, Femtosecond Laser, Surgical Microscope, Contact Lenses) - Global Forecasts to 2023

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Report Code
MD 2334
Published ON
Mar, 2018
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