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Ophthalmic Devices Market Expected To Reach USD 42,685.1 Mn By 2020

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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 initi
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.
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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.
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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.
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