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Ophthalmic Devices Market

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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 exp
Ophthalmic Devices Market to Record a US$ 42 Bn by 2020
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 lifestyleassociated 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.
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 age-related
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.
View Full Report TOC, Figures and Tables @
https://www.persistencemarketresearch.com/market-research/ophthalmic-devices-market/toc
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 agerelated macular degeneration cases was 0.3 million in 2000 and it is anticipated to increase
by 0.5 million in 2020.
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.
Browse Report Overview @
https://www.persistencemarketresearch.com/market-research/ophthalmic-devicesmarket.asp
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ashutosh
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