Ophthalmic Devices: Technologies and Global Markets

LONDON, June 13, 2018 /PRNewswire/ -- Report Scope:
This report on ophthalmic devices provides a brief description of the current status of the industry and recent developments.The report analyzes the market trends and identifies key medical and geographical challenges and rising opportunities in the developed and developing world.

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Finally, it will provide insights regarding new developments into ophthalmic and surgical devices that help to improve diagnosis and enhance the treatment of cataracts, glaucoma, refractory and retinal disorders.

Report Includes:
- 21 data tables
- A comprehensive analysis of the market for ophthalmic devices by reviewing recent advances in diagnostic, surgical, and implantation devices that can be used to treat prevalent eye conditions
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Analysis of the recent advances in ophthalmic medical devices and their potential impact on the medical device industry
- Evaluation of the market's dynamics, specifically growth drivers, restraints, and opportunities
- Company profiles of major key players in the market, including Abbott Medical Optics, Alcon, Bausch & Lomb, Carl Zeiss Meditec, Johnson & Johnson, Quantel Medical, Topcon and Ziemer Ophthalmic Systems AG

Summary
In recent years there have been significant advances in the development of ophthalmic devices and surgical procedures that have helped to improve diagnosis and treatment of a broad range of ophthalmic conditions, including cataracts, glaucoma, refractory and retinal disorders.

The global market for ophthalmology devices2 reached nearly $REDACTED billion in 2016.This market is estimated to reach more than $REDACTED billion in 2022 from $REDACTED billion in 2017 at a compound annualgrowth rate (CAGR) of REDACTED% for 2017 through 2022.

The growth is being driven by the launch of newbiocompatible materials, improvements in clinical optics and the launch of high-end surgical devices.Advancements in cataract and refractory surgery devices have also resulted in the improved safety andefficacy of routine procedures, helping to improve surgical outcomes, reduce perioperative morbidityand increase the number of patients willing to undergo surgery.

In 2016, The United States represents the largest segment of ophthalmology device sales, accounting for REDACTED% of global revenues, followed by Europe with REDACTED% and Asia-Pacific with REDACTED%. The globalophthalmology device market is being driven by patient demographics such as the rising incidence ofdiabetes and obesity and the increasing geriatric population, which is increasing the number of patientswith conditions such as age-related macular degeneration, cataracts, diabetic retinopathy and glaucoma, and helping to expand the addressable patient population in need of ophthalmic devices. Inaddition, market growth is being aided by growing awareness and early detection
and monitoring ofocular disease, the rise in adoption of minimally invasive surgeries in Asia-Pacific, greater healthcareinsurance coverage in Europe and positive reimbursement of ocular devices and surgical procedures inthe United States.

In 2016, the ophthalmology device market is composed of several segments: vision care contact lenses (REDACTED%), intraocular lenses (IOLs) and other cataract surgery products (REDACTED%), diagnostic and imagingdevices (REDACTED%) and other surgery devices (REDACTED%).The market is dominated by a few players: Alcon,Bausch & Lomb, Carl Zeiss Meditec, CooperVision, Johnson & Johnson, Nidek, Topcon Corp and ValeantPharmaceuticals (Bausch & Lomb).

Innovative new companies such as EyeKon Medical, Glaukos Corp.,Optos and others, are gradually making headway in the market. Within the market, Alcon is thedominant player, with its sales accounting for REDACTED% of the entire market.

The contact lens market accounts for nearly half of global sales, generating over $8.6 billion in 2016. This market is estimated to reach around $REDACTED billion in 2022 from $REDACTED billion in 2017 at a CAGR of REDACTED% for2017 through 2022. The market is dominated by Johnson & Johnson, with a REDACTED% market share,followed by Alcon (a Novartis company) with REDACTED%, CooperVision with REDACTED%, and Bausch & Lomb (ValeantPharmaceuticalGroup)withREDACTED%.

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