Ophthalmic Surgical Instruments Market to Witness Steady Growth in the Near Future

 

Growth in this market is attributed to the rapid growth in the geriatric population, increasing number of ophthalmic surgeries owing to the rising prevalence of eye diseases, technological advancement in ophthalmic surgical instruments, and government initiatives to increase awareness about visual impairment across the globe.

The global Ophthalmic Surgical Instruments Market is projected to reach USD 11.18 Billion by 2022 from USD 8.36 Billion in 2017, at a CAGR of 6.0%. 

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Based on product, the ophthalmic surgical instruments market is segmented into cataract surgery devices, vitreoretinal surgery devices, refractive surgery devices, glaucoma surgery devices, ophthalmic microscopes, and accessories. The cataract surgery devices segment accounted for the major share of the global ophthalmic surgical instruments market. The large share of this segment can primarily be attributed to the growing number of cataract surgeries across the globe. Glaucoma surgery devices segment is expected to register the highest growth during the forecast period. 

On the basis of refractive surgery devices, the ophthalmic surgical instruments market is segmented into femtosecond lasers, excimer lasers, other lasers, and refractive surgery instruments & kits. The femtosecond lasers segment accounted for the major share of the refractive surgery devices market and is also expected to register the highest CAGR during the forecast period. The large share and high growth of this segment is attributed to its benefits such as lower incidence of dry eyes, less induced aberrations, greater safety, faster uncorrected visual acuity recovery, less intraocular pressure (IOP) variation in the femtosecond-created flap, and growing number of femtosecond laser-assisted surgeries being performed across the globe.

On the basis of vitreoretinal surgery devices type, the ophthalmic surgical instruments market is segmented into vitreoretinal packs, vitrectomy machines, photocoagulation lasers, illumination devices, vitrectomy probes, and vitreoretinal surgery instruments & kits.

North America accounted for the largest share of the ophthalmic surgical instruments market in 2016, followed by Europe. 

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The prominent players in the ophthalmic surgical instruments market are Alcon (Switzerland), Carl Zeiss Meditec (Germany), Johnson & Johnson Vision Care (US), Hoya Corporation (Japan), Bausch + Lomb (US), NIDEK (Japan), Topcon Corporation (Japan), Ellex Medical Lasers (Australia), IRIDEX Corporation (US), Lumenis (Israel), STAAR Surgical Company (US), and Ziemer Ophthalmic Systems (Switzerland).