Global Ophthalmic Device Market Forecast to Increase at a CAGR of 4% During the Period 2010–2017

Friday 21 October 2011, Amsterdam

Global Ophthalmic Device Market Forecast to Increase at a CAGR of 4% During the Period 2010–2017

The global ophthalmic devices market is expected to grow at a compound annual growth rate (CAGR) of 4% to reach $52.7 billion in 2017 from $39.2 billion in 2010. Factors such as the increasing incidence of eye disease and the growing elderly population are driving the ophthalmic device market. Minimally invasive surgical procedures and advances in femtosecond laser technology are expected to drive growth of the ophthalmic surgical devices category. Emerging countries such India and China will show potential for market growth due to the presence of a large patient base in rural areas.
 

Vision Care Category to Continue to be the Largest Category in the Global Ophthalmic Devices Market

In 2010 the vision care category was the largest category in the global ophthalmic devices market, accounting for 87% of the overall market. The global vision care category was valued at $34 billion in 2010 and is forecast to grow at a CAGR of 4% to reach $46 billion in 2017. The vision care category primarily comprises spectacle lenses and contact lenses and is expected to be driven by a large target population using vision care devices for aesthetic as well therapeutic purposes.
 

Essilor International and Johnson & Johnson Vision Care to Dominate the Global Ophthalmic Devices Market

The global ophthalmic devices market is dominated by Essilor International and Johnson & Johnson Vision Care (J&J Vision Care) accounting for a combined market share of 19% in 2010.

Essilor is the market leader in corrective lenses and offers a range of corrective lenses through established brand names such as Varilux, Crizal, Thin&Lite, Xperio and Definity. It has the largest optical lab network in the US and its growth can be attributed to the multiple acquisitions of prescription laboratories which have helped to expands both its product line as well as its geographical presence. Essilor and J&J Vision Care dominate the ophthalmic devices category due to a large consumer base across the world through a large distribution network.



About this new market study:
The report provides market landscape, competitive landscape and market trends information on six ophthalmic devices market categories: cataract surgery devices, refractive surgery devices, vision care, ophthalmic diagnostic equipment, vitreo retinal surgery devices and glaucoma surgery devices. It provides comprehensive information on the key trends affecting these categories and key analytical content on the market dynamics. The report also reviews the competitive landscape and gives detailed analysis of the pipeline products in each category. It reviews details regarding important merger and acquisition deals that have taken place in the ophthalmic devices market.