The advanced ophthalmology technologies market is expected to witness significant growth, at a CAGR of 10.61% with a valuation of USD 14, 411.56mn as compared to its previous market value of USD 7,841.76mn in 2020.
Researchmoz
sheds some light on market insights including market size, drivers, restraints,
trends, opportunities, and competitive landscape.
The
increasing cases of eye diseases such as cataracts, glaucoma, and other eye
conditions are expected to drive the advanced ophthalmology technologies
market.
Factors Driving and Restraining the Market
The global advanced
ophthalmology technologies market is surely projected to witness sizeable
growth in the coming years. Some of the factors that will drive and restrain
the market are as follows.
- The increasing geriatric population is
projected to expand the advanced ophthalmology technologies market during
the forecast period.
- The growing eye diseases irrespective of
age are expected to surge the demand for advanced ophthalmology
technologies.
- The rising awareness and increasing
initiatives by the government are paving the way for the demand for
advanced ophthalmology technologies.
- The increasing research and development in
this sector are likely to owe to the growth of the market in the coming
years.
Although
several factors support the advanced ophthalmology technologies market, there
are certainly some challenges that this market is likely to face during the
forecast period.
- The high cost of ophthalmology devices and
surgeries is expected to hamper the growth of the advanced ophthalmology
technologies market.
Restraint
aside, the increasing need for timely diagnosis and early treatment is
projected to expand the global advanced ophthalmology technologies market in
the coming years.
Analyst’s Overview
The
global advanced ophthalmology technologies market is certainly expected to
experience considerable growth from 2019 to 2027, at a CAGR of 10.61% and an
estimated market value of USD 14, 411.56mn by 2027.
The
recent developments in advanced ophthalmology technologies for advanced-stage
patients with macular eye disease are an incredible step, which may lead to
humongous growth in the future.
Further,
innovative products such as orbital tissue expander that treats eye diseases
due to trauma and robot scanner that detects early-stage macular disease are
proving to be a boon in advanced ophthalmology technologies, which further is
expected to upsurge the market growth in coming years.
The
diagnostic segment is anticipated to surge, owing to technological advancement
and the availability of skilled ophthalmologists.
The
hospital sector is anticipated to hold the dominance in the global advanced
ophthalmology technologies, owing to an increase in surgeries.
Further,
North America and Europe are expected to thrive, owing to the availability of
advanced technology and a large patient pool, driving the global advanced
ophthalmology technologies market towards a phenomenal growth during the
forecast period.
Competitive Landscape
The
global advanced ophthalmology technologies market is largely competitive due to
the presence of key players in the market.
The
key players are always focusing on innovative products by leveraging technology
in order to expand their market presence, thus increasing their market share or
profitability.
Some of the current market
players in the global advanced ophthalmology technologies market include-
- Johnson & Johnson Services
- Ziemer Ophthalmic Systems Ltd
- Bausch & Lomb Incorporated
- Novartis AG
- CooperVision
- Alcon Vision LLC
- Carl Zeiss Meditec AG
- Nidek Co. Ltd
- Topcon Corporation
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