According to a new market report published by Persistence Market Research “Global Market Study on Ophthalmic Devices: Asia to Witness Highest Growth by 2020,” the global ophthalmic devices market was valued at USD 29,171.5 million in 2014 and is expected to grow at a CAGR of 6.5% from 2014 to 2020, to reach an estimated value of USD 42,685.1 million in 2020. Globally, the ophthalmic devices market is witnessing significant growth due to increasing prevalence of eye disorders, such as diabetic retinopathy and macular degeneration. In addition, growing global aging population, increasing government initiatives towards healthcare infrastructure in developing countries, and increasing incidence of lifestyle-associated diseases are also driving the growth of the market. However, lack of awareness among people about eye disorders, poor primary healthcare infrastructure, and lack of insurance in developing countries hamper growth of the global ophthalmic devices market. In addition, eye diseases in children are also increasing due to the general lack of awareness. Request Report TOC @ https://www.persistencemarketresearch.com/toc/3188 The global ophthalmic devices market is anticipated to grow from an estimated USD 29,171.5 million in 2014 to USD 42,685.1 million in 2020 at a CAGR of 6.5% during the forecast period. Age-related eye diseases, such as glaucoma, cataract, diabetic retinopathy, and agerelated macular degeneration, are the leading causes of visual impairment and blindness in North America. According to the American Academy of Ophthalmology, approximately 22 million Americans aged 40 and above were affected by cataract and 2.3 million Americans were affected by glaucoma in 2011. In Europe, increasing prevalence of chronic eye diseases among the rising aging population is becoming a challenge for the European healthcare system. In France, the number of age-related macular degeneration cases was 0.3 million in 2000 and it is anticipated to increase by 0.5 million in 2020. Request Sample Report @ https://www.persistencemarketresearch.com/samples/3188 However, glaucoma, cataract, and diabetic retinopathy are the major causes of blindness in Asia. Cataract can be held responsible for 50% to 80% of all cases of blindness in Southeast Asia. The prevalence of age-related macular degeneration is also increasing in Asia due to increase in life expectancy and rising incidence of diabetes among the younger population. As per the Centre for Eye Research Australia, prevalence of diabetic retinopathy among people ranged between 17% and 22% in India and 43.1% in rural China in 2012. Johnson & Johnson, Essilor International, Bausch & Lomb Incorporated, Novartis AG, HOYA CORPORATION and Abbott Laboratories, Inc. are some of the major players of ophthalmic devices market. Buy Ophthalmic Devices Market Report @ https://www.persistencemarketresearch.com/checkout/3188 About Us Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance. To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multidimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes. Contact Us Persistence Market Research 305 Broadway 7th Floor, New York City, NY 10007, United States, USA,Canada Toll Free: 800-961-0353 Email: [email protected] Web: http://www.persistencemarketresearch.com

Globally, the ophthalmic devices market is witnessing significant growth due to increasing prevalence of eye disorders, such as diabetic retinopathy and macular degeneration. In addition, growing global aging population, increasing government initiatives towards healthcare infrastructure in developing countries, and increasing incidence of lifestyle-associated diseases are also driving the growth of the market.