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(MoneyNewsWire.Net, June 22, 2017 ) The Global Ophthalmology Devices Market is estimated at $34.5 billion in 2016 and is expected to reach $45.1 Billion market by 2021 with a CAGR of 5.5% in the review period. The Ophthalmology devices industry is a key growth area in the medical world with an increasing demand for solutions to improve the lives of millions of people. The increasing prevalence of aging population and various ocular diseases has created tremendous opportunities in the global ophthalmic devices market that include cataract, refractive, glaucoma surgical devices and so on. The growth is likely is sustain in the near future with the increasing awareness among individuals and rapid approvals.
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Ophthalmology is the branch of medicine which deals with the diseases related to eyes, physiology and anatomy. It encompasses various surgical devices that are primarily used in the treatment of eye conditions and infections. The devices helps in decreasing the treatment time while offering better quality eye care protection to the patients. They also assist in making the treatment process for eyes more convenient for both the patients and ophthalmologists.
Ophthalmology device market has emerged as one of the fast growing segment in the medical device market in the recent years. This rise in demand is attributed to the rise in aging population, increase in prevalence of eye diseases and advancements in ophthalmology treatment. Rising spending on healthcare, increasing investments by governments and continuous development in the medical field has all contributed in propelling the ophthalmology market in the recent years. However, there are a few factors hampering the growth of the market that include lack of healthcare insurance in the emerging countries, lack of awareness among individuals about diseases like glaucoma and poor healthcare infrastructure.
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The global ophthalmology device market is segmented based on the application, disorders and by devices. By application, the market is categorised as diagnostics & monitoring devices, surgery devices and vision care devices. Based on the type of disorder, the market is segmented as Cataract, Glaucoma, Refractor disorders and vitreo retinal disorder. Based on the type of devices the market is analysed under the canaloplasty devices and computerized field analyser. The market is segmented based on the geographical region into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The major players in the ophthalmology device market include Alcon Inc., Abbott Medical Optics Inc., Johnson & Johnson, Essilor International, Bausch and Lomb Inc., Topcon Corporation, Nidek CO Ltd., HAAG-Streit Group, Carl Zeiss Meditec, Hoya Corporation and Ziemer Ophthalmic System.
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