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.
What the Market Looks Like?
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%. 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.
Based on product, the ophthalmology 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. The high
growth of this segment is attributed to the rising prevalence of glaucoma and
technological advancements in the glaucoma surgical devices throughout the
world.
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What Drives the Market?
The growth of the global market for Ophthalmic Surgical Instruments is primarily influenced by the following factors:
·
Rising Prevalence of Eye Diseases
·
Technological Advancements in Ophthalmic Surgical
Instruments
·
Increasing Government Initiatives to Control Visual
Impairment
North America accounted for the largest share of the ophthalmology
surgical instruments market in 2016, followed by Europe. The large share of
this region is attributed to rising prevalence of ocular disorders owing to
growing geriatric population in North America, increase in healthcare
expenditure, technological advancements in instruments & devices used for
minimally invasive surgeries, and increasing regulatory approvals.
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