Ophthalmology Equipment Market Future Growth And Forecast 2029
esearch Nester published a report titled “Ophthalmology Equipment Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global ophthalmology equipment market in terms of market segmentation by function of product, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global ophthalmology equipment market is segmented by end-user into hospitals, clinics, and others, out of which, the clinics segment is projected to hold the largest market share by the end of 2021, on account of the availability of numerous ophthalmology clinics globally which are largely operated by independent ophthalmologists, along with the increasing need for advanced equipment in these clinics.
The global ophthalmology equipment market is anticipated to grow with a notable CAGR during the forecast period, i.e., 2021-2029, owing to the rising prevalence of ophthalmic diseases globally, and the need amongst individuals to treat these diseases. Further, growing awareness amongst individuals for the treatment of ophthalmic diseases, such as ocular hypertension or glaucoma, diabetic retinopathy, age-related macular degeneration (AMD), cataract, and others, followed by the increasing advancements in the development of advanced ophthalmology equipment, are some of the additional factors anticipated to contribute to the market growth.
Regionally, the global ophthalmology equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the market in the Asia Pacific is projected to hold the largest market share by the end of 2029, owing to the improving healthcare infrastructure across several nations in the region, and the rising geriatric population. Additionally, the rising population in the nations, such as China and India, along with the need amongst the individuals for affordable eye care are some of the additional factors anticipated to drive the growth of the market in the region.
Growing Prevalence of Ophthalmic Diseases Globally
The World Health Organization (WHO), in one of its statistics, stated that globally, around 2.2 billion people have a distance or near vision impairment.
The statistics portray the growing concern for the ophthalmic diseases globally, which is anticipated to raise the need amongst individuals to treat these diseases at an affordable cost. Moreover, backed by the rising awareness for these diseases, there is a rising need amongst the hospitals, clinics, and ambulatory surgical centers among others to increasingly deploy ophthalmology equipment so that patients with ophthalmic diseases can instantly treat themselves. Additionally, increasing advancements in healthcare technologies, followed by the rising investments of several governments worldwide to develop the healthcare network are some of the additional factors anticipated to drive the market growth.
However, the high cost of these equipment, along with the lack of awareness for these equipment in several low-income nations globally, are expected to operate as key restraint to the growth of global ophthalmology equipment market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global ophthalmology equipment market which includes company profiling of Novartis AG (NYSE: NVS), Bausch & Lomb, NIDEK CO. LTD., ZEISS International (OTCMKTS: CZMWY), HOYA Corporation (OTCMKTS: HOCPY), Pfizer Inc. (NYSE: PFE), AbbVie Inc. (Allergan) (NYSE: ABBV), Santen Pharmaceutical Co., Ltd. (OTCMKTS: SNPHY), Johnson & Johnson Vision Care, Inc., Topcon Healthcare (OTCMKTS: TOPCF). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global ophthalmology equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.