Ophthalmic Surgical Instrument Market – Analysis and Forecast To 2024 | Bausch & Lomb, Hoya, Iridex, Lumenis.

The incidence of eye disorders and vision loss is becoming a major public health problem. Ophthalmic surgical instrument are devices used for the surgery of an eye owing to treat the eye diseases. The global ophthalmic surgical instrument market is growing at significant rate due to increasing prevalence eye diseases due to growing geriatric population and technological improvement in ophthalmic surgical devices. The market has witnessed high demand for cataract surgery device over the last few years, due to the increasing prevalence of cataract and growing geriatric population.

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The high cost of ophthalmic surgical instrument, lack of awareness, low accessibility to eye care in low income economies and reimbursement cuts for ophthalmic surgical procedure are the major challenges for the growth of ophthalmic surgical instrument market. Lack of healthcare facilities and low awareness about eye disorders is leading to increase in visual impairment.

The key challenge for the new entrants is the survival in capital intensive and highly regulated ophthalmic surgical instrument market. The ophthalmic surgical instrument manufacturing companies are trying to develop inexpensive devices for in order to make eye treatment more affordable.

Asia-Pacific is observed to witness fastest growth in the market. As the region comprises of largest population and geriatric population is increasing rapidly among them. In addition, increasing healthcare expenditure and increasing awareness on advance ophthalmic surgical devices also creating a positive impact on the ophthalmic surgical instrument market growth in the region.

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Key players in the ophthalmic surgical instrument market are investing in the development of innovative and advance ophthalmic surgical products, which is strengthening their position in the market. In May 2017, Alcon launched multifocal toric IOL with multifocus optical design at American Society of Cataract and Refractive Surgery. Bausch & Lomb, Hoya, Iridex, Lumenis, Nidek, Topcon, Alcon, Carl Zeiss Meditec, Johnson & Johnson, Ellex Medical Lasers and Ziemer Ophthalmic Systems are the key players offering ophthalmic surgical devices.

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