Ophthalmology is a segment of medical science related to the study of anatomy, physiology, diseases of the human eye, and developing various helpful methods to treat eye diseases. Some of the major eye diseases are either age-related or caused due to chronic disorders. They include various degenerative eye diseases such as macular degeneration, cataract, glaucoma, refractive errors, etc. Revolution in the field of medical science has led to the rapid development of ophthalmology devices that are invented to treat ocular defects and disorders.
The rapidly growing incidences of degenerative diseases of eyes, increased focus on healthcare and changing lifestyle are the prime drivers for the ophthalmology devices market. Moreover, technical advancements, high adoption of digital devices worldwide which can be harmful and result into AMD, quick recovery period and better effectiveness of surgical procedures has led to the increased importance of this market.
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The high cost of some devices especially imported ones, lack of ophthalmologists, uncertain reimbursement structure and lack of healthcare insurance in developing countries put constraints on the market.
The market is segmented in by type of products (diagnostic devices, surgical devices and vision care), by application (cataract, glaucoma, age-related macular degeneration, diabetes retinopathy and others) and by end users (hospitals, academic and research laboratories, and others).
North America leads the ophthalmology devices market followed by Europe. Moreover, Asia-Pacific region is expected to grow rapidly due to improving healthcare infrastructure, growing per capita income, and rising geriatric population.
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Some of the major players in the market include Alcon Inc, Essilor International, Johnson & Johnson, Abbott Medical Optics Inc, Bausch & Lomb, Inc, Haag-Streit, Topcon Corporation, Carl Zeiss Meditec, Nidek Co. Ltd., and Ziemer Ophthalmic Systems.
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