United States Ophthalmic Equipment Market to Grow with an Impressive CAGR until 2027
Changing
environmental conditions are driving the growth of United States Ophthalmic
Equipment Market, in the forecast period.
According to TechSci report on, “United
States Ophthalmic
Equipment Market -
By Region, Competition Forecast & Opportunities, 2027”, United
States ophthalmic equipment market is expected to show an impressive growth in
the forecast period, 2023-2027. The compound annual growth rate of the market
is expected to turn out with double digit number in the forecast years, where
its growth can be attributed to rising instances of eye diseases in the
country. Due to various conditions, be it environmental, behavioral, or
genetic, the number of patients suffering from various kinds of eye-sight
disorders are rapidly increasing. The geriatric population is most affected
population due to visionary defects. Ophthalmic equipment is being consistently
evolved. The modern science and technological advancement have proven to be
supporting the growth of the market in the historical period, and the
anticipated growth is also expected over the same parameters. Moreover, the
visionary ailments are being manufactured at large scale. Multiple market
players are involved in the development of the best ophthalmic equipment that
can aid the diagnosing and treatment process of the diseases, thereby
supporting the growth of the market.
The branch of
medicine and surgery that deals with the visionary defects and diseases along
with the diagnosing and treatment of the eye disorders is coined as
ophthalmology. The devices, and medical equipment used in the diagnosing and
treatment procedures in the ophthalmology, is the ophthalmology equipment. It
encircles all sorts of tools, from the diagnosing device, ophthalmometer, to
eye-sight correcting contact lenses, phoropter, tonometer, all belong to the
ophthalmic equipment criteria.
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Equipment Market"
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The United
States ophthalmic equipment market segmentation is based on product,
application, end user, competitional landscape, and regional distribution.
Based on application, the market is further segmented into glaucoma, amblyopia,
cataract, retinal detachment, and others. Applications of ophthalmic equipment
for the treatment and early diagnosing of cataract is anticipated to hold the
largest market shares among the other sub-segments. The market segment is
anticipated to grow on the account of increasing geriatric population of the
country and their susceptibility toward the disease contraction. Furthermore,
glaucoma is also anticipated to hold significant shares of the market in the
next five years. Glaucoma is an eye diseased condition where the nerve
connecting the eye to the brain is damaged. These kinds of damage are often
caused by the high pressure that the eye has to experience in abnormal
conditions. The vision is slowly lost, and rising instances of the disease is
expected to drive the growth of the segment. These factors are expected to in
turn, support the growth of the market in the future years.
Based on
product, the market is further bifurcated into vision care products,
ophthalmology surgical devices, diagnostic & monitoring devices, and
others. Ophthalmology surgical devices are anticipated to hold the largest
revenue shares of the market in the next five years, on the account of
increasing instances of eye diseases that require the surgical procedure as a
treatment process. Diseases like cataract, glaucoma, refractive errors, and
diabetic retinopathy are propelling the growth of the surgical devices market.
Moreover, diagnostic and monitoring devices are also anticipated to register
the significant shares of the market due to the post op processes and pre op
diagnosing procedures.
A partial list
of market player in the United States ophthalmic equipment market includes :
- Alcon Inc.
- Johnson & Johnson
- CooperVision, Inc.
- Bausch Health Companies, Inc
- Carl Zeiss, Inc.
- Glaukos Corporation
- STAAR Surgical Company
- Heidelberg Engineering, Inc.
- Canon Inc.
- Optovue, Inc
With the
advancement of the technology, it is appropriate to say that the effective
research and development of the technologically advanced medical devices would
support the market growth and benefit the market players as well as the
consumers. New market players may focus on the research and development to
provide devices that satisfies the consumer demand as well as benefits the
market players in building their brand value. Other competitive strategies
include mergers & acquisitions and new product developments.
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“Technologically advanced medical devices are flooding the United States
market in the healthcare sector. Along with the multiple market players present
in the country, the surge in the demand of the advanced medicine and advanced
medical devices is expected to promote the United States ophthalmic equipment
market in the future five years. With multiple eye hospitals and specialty
clinics that function to provide the best possible healthcare facility to the
citizen of the country along with the medical tourists, the factors are major
growth supporters for the market. Since more medical tourism is expected in the
upcoming five years, after the pandemic has subsided in the country, market
players may perceive a more expanded market in the future,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United
States Ophthalmic Equipment Market By Product (Vision Care Products,
Ophthalmology Surgical Devices, Diagnostic & Monitoring Devices, Others) By
Application (Glaucoma, Amblyopia, Cataract, Retinal Detachment, Others) By End
User (Hospitals & Clinics, Ambulatory Care Centers, Others) By Region,
Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of United
States ophthalmic equipment market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in United States ophthalmic
equipment market.
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