Canada Ophthalmic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canada Ophthalmic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The CanadaOphthalmology Drugs & Devices Market is expected to grow with a CAGR of 2% during the forecasted period. Certain factors that are driving the growth of the market include demographic shift, the impact of the prevalence of eye disease, technological advancements in the field of ophthalmology, and the rising geriatric population. The aging population is expected to burden all areas of healthcare, and ophthalmologists provide approximately 90% of their procedure-based services to seniors. In Canada, the leading cause of visual impairment is glaucoma, diabetic retinopathy, degenerative myopia, age-related macular degeneration, and cataract. In addition, according to the Global Health Data Exchange, the prevalence of age-related macular degeneration is around 18,644 in 2018. The number is estimated to grow by 19,252 in 2019. Hence, the rising prevalence of eye disorders will lead to the growing demand for drugs and devices for diagnosis and treatment.

Key Market TrendsCataract Segment is Expected to Show Better Growth in the Forecast Years

Based on disease, the market is segmented into glaucoma, cataract, age-related macular degeneration, inflammatory diseases, refractive disorders and other diseases. As per the Global Health Data Exchange, it is estimated that the prevalence of cataract in Canada is 193,707 in 2018. It is further increased by 197,442 in 2019. Cataract surgery remains the most effective way to help restore vision for people with cataracts. Hence, with the rising burden of eye disease in Japan, the market is expected to grow in the forecast period.

Competitive Landscape

The Canada Ophthalmology Drugs & Devices Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Essilor International SA, Johnson & Johnson, Nidek Co. Ltd, Topcon Corporation, Ziemer Group AG

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• The market estimate (ME) sheet in Excel format
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Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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