the Global Ophthalmic Devices Market Will Reach $16.29bn in 2014, According to a New Study on ASDReports

Thursday 7 August 2014, Amsterdam

the Global Ophthalmic Devices Market Will Reach $16.29bn in 2014, According to a New Study on ASDReports
The new report now available on ASDReports, calculates that the global ophthalmic devices market will reach $16.29bn in 2014 with revenues showing strong growth to 2024. These revenue forecasts and others appear in the latest report Ophthalmic Devices Market Forecast 2014-2024: Future Prospects for Leading Companies.

The report expects the surgical ophthalmic devices market to be the fastest growing submarket as the incidence of ocular diseases that can be treated with surgical intervention, such as cataracts, refractive errors, glaucoma, AMD and diabetic retinopathy increases dramatically over the forecast period. The diagnosis and monitoring of ocular diseases, with advances in diagnosis and monitoring equipment, will improve and this is crucial for diseases that are far more successfully treated on early detection. The Vision Care submarket is reaching maturity in the developed world but will still grow from the increasing demand of contact lenses in more affluent emerging market populations such as China.

Amy To, a pharmaceutical and medical devices analyst explains:

“The global over 65+ population will be the fastest growing age demographic over the next decade. This bodes well for the ophthalmic devices market because the leading causes of blindness and low vision in the developed markets are primarily age-related eye diseases. Many emerging markets are expected to follow a similar shift in age demographic over the forecast period. Ophthalmic device manufacturers are set to capitalise on the high growth prospects of the ophthalmic devices market. There have been heightened levels of M&A activity in the ophthalmic devices market as multinational pharmaceutical companies aim to diversify their operations to overcome significant revenue drops from lost patent protection. Moreover, ophthalmic devices companies are particularly attractive acquisitions as many of their products are bought out-of-pocket rather than reimbursed through healthcare providers, who will face significant cost pressures over the next decade. Recent notable activity includes Novartis’ acquisition of Alcon (2010) and Valeant’s acquisition of Bausch and Lomb (2013).  Development of ophthalmic devices has been rapid with companies trying to gain market share of potentially lucrative devices markets such as premium IOLs, advanced OCTs, femtosecond and eximer lasers.”

The ophthalmic devices market is dominated by developed national markets such as the US, the EU5 markets (Germany, France, UK, Italy and Spain) and Japan. However, medical reimbursement challenges in many of these regions will adversely affect the ophthalmic devices market as healthcare providers are more discerning about the cost effectiveness of advanced medical technology. The fastest growing market will be South Korea where the government has announced aggressive plans to increase the medical devices industry.

The new report provides revenue forecasts to 2024 for the global ophthalmic devices market and leading regional markets. It forecasts sales in the US, Japan, Germany, France, Italy, Spain, UK, Rest of Europe, China, India, Russia, Brazil, Mexico, South Korea and RoW. The report also forecasts sales for the major revenue generating devices in each submarket such as ophthalmic lasers, intraocular lens, optical coherence tomographers, and daily disposable and other contact lens. The report profiles the leading 10 companies assessing their prospects in the market. The report also includes insightful interviews with industry experts regarding unmet ophthalmic needs and current market trends.
Ophthalmic Devices Market Forecast 2014-2024

Ophthalmic Devices Market Forecast 2014-2024

Publish date : June 2014
Report code : ASDR-130719
Pages : 192

Ophthalmic Devices Market Report 2023-2033

Ophthalmic Devices Market Report 2023-2033

Publish date : August 2023
Report code : ASDR-624473
Pages : August 2023

ASDReports.com contact: S. Koomen

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