USA Ophthalmic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The ophthalmic devices are the medical equipment's that are designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision related issues across the globe. Moreover, technological advancements in the field has boosted the adoption rate of the rate in the US. Although there have been advancements, the devices are stilled deemed unsafe, and can cause damages if not handled professionally. Hence all these factors have been restraining the US market growth.
Key Market TrendsVision Correction Devices are Expected to Register a High CAGR During the Forecast PeriodThe Vision Correction Devices or corrective lenses are used to aid and improve vision for those with common refractive errors like myopia, hypermetropia, astigmatism, and presbyopia. These visual impairments result in low vision. Moreover, these conditions seem to be rising.
According to the National Eye Institute estimates, over 2.9 million American residents were detected with low vision, in 2014. The number is projected to increase further and is expected to reach around 5 million by 2030. Hence, as the number of people with low vision increase, the demand for vision correction devices are also expected to increase as well.
Competitive LandscapeMajority of the ophthalmic devices are being manufactured by the US players. Market leaders with more funds for research and better distribution system have established their position in the market.
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Alcon Inc.
Bausch Health Companies Inc.
Carl Zeiss Meditec AG
EssilorLuxottica SA
HAAG
Streit Group
Hoya Corporation
Johnson and Johnson
Nidek Co. Ltd
Topcon Corporation
Ziemer Ophthalmic Systems AG
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- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Demographic Shift and Increasing Prevalence of Eye Diseases
- 4.2.2 Rising Geriatric Population
- 4.2.3 Technological Advancements in Ophthalmic Devices
- 4.3 Market Restraints
- 4.3.1 Risk Associated with Ophthalmic Procedures
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Devices
- 5.1.1 Surgical Devices
- 5.1.1.1 Glaucoma Drainage Devices
- 5.1.1.2 Glaucoma Stents and Implants
- 5.1.1.3 Intraocular Lenses
- 5.1.1.4 Lasers
- 5.1.1.5 Other Surgical Devices
- 5.1.2 Diagnostic and Monitoring Devices
- 5.1.2.1 Autorefractors and Keratometers
- 5.1.2.2 Corneal Topography Systems
- 5.1.2.3 Ophthalmic Ultrasound Imaging Systems
- 5.1.2.4 Ophthalmoscopes
- 5.1.2.5 Optical Coherence Tomography Scanners
- 5.1.2.6 Other Diagnostic and Monitoring Devices
- 5.1.3 Vision Correction Devices
- 5.1.3.1 Spectacles
- 5.1.3.2 Contact Lenses
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Alcon Inc.
- 6.1.2 Bausch Health Companies Inc.
- 6.1.3 Carl Zeiss Meditec AG
- 6.1.4 EssilorLuxottica SA
- 6.1.5 HAAG-Streit Group
- 6.1.6 Hoya Corporation
- 6.1.7 Johnson and Johnson
- 6.1.8 Nidek Co. Ltd
- 6.1.9 Topcon Corporation
- 6.1.10 Ziemer Ophthalmic Systems AG
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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