(PharmaNewsWire.Com, October 09, 2018 ) Ophthalmology refers to a branch of medical science that deals with the structural and functional defects of the eye. Ophthalmic devices are medical devices used in the treatment and identification of certain deformities and ocular deficiencies. The global market for ophthalmic devices is determined by ocular disorders such as glaucoma, diabetic retinopathy, macular degeneration, and cataract and vision care devices. Ophthalmic devices are also used in various surgical procedures, such as ultrasonic phacoemulsification, to achieve faster recovery rates and increased safety.
In the year 2018, the Europe Ophthalmic Devices Market was valued at USD 9.71 Billion, by the year 2023 it is expected to reach USD 13.14 Billion with 6.24% CAGR.
Drivers and Restraints:
Europe Ophthalmic devices market is mainly driven by increasing geriatric population. As, aged people are more prone to developing eye-related disorders/conditions such as dry eye, glaucoma, promoting awareness about these disorders, continuous technological advancements in the field of medical technology for the development of novel products which have more efficacy and accuracy are boosting the market. High cost of ophthalmic devices, the lack of skilled professionals in the rural regions of developing countries is limiting the growth of the market.
The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. Europe stands second after North America. U.K held the largest share in the market across all the segments.
Major companies in the market are Alcon Inc., Essilor International S.A., Johnson & Johnson, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Haag-Streit AG, Topcon Corporation, Carl Zeiss Meditec AG, Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG.
Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
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