Global Ophthalmic Devices Market Is Expanding Due To Rising Demand For Ophthalmic Devices And Increasing Geriatric Population

Ophthalmic Devices Market
Ophthalmic Devices Market 

Overview:

Ophthalmic devices are used to treat eye diseases such as cataracts, glaucoma, and diabetic retinopathy. These devices also assist in diagnosing and monitoring ocular diseases. The increasing number of lifestyle related ophthalmic disorders is driving the demand for ophthalmic devices. Hence, the increasing investments in the development of innovative and advanced devices will be a key driver of the market.

The demand for these devices is expected to increase in the coming years as these devices facilitate timely diagnosis and treatment. Moreover, the rise in aging population is likely to boost the demand for these devices. A lack of skilled professionals is one of the major challenges facing the growth of the market. Another factor is the high cost of diagnostic and surgical devices.

Market Dynamics:

Growing product launches is estimated to augment growth of the global Ophthalmic Devices Market during the forecast period. For instance, NIDEK Co Ltd., launched Retina Scan Duo 2 in October 2021. The system is integrated with advanced features, and it is user-friendly. Moreover, lack of awareness regarding health care facilities is anticipated to restrain growth of the global ophthalmic devices for market during the forecast period.

Impact of COVID-19:

COVID-19 led to imposition of social distancing restrictions by several government authorities in many parts of the world. These were imposed to curb COVID-19 outbreak. The pandemic also affected the manufacturing process of many industries and disrupted several supply chains.

Several ophthalmology surgeries were postponed owing to strict government restrictions. Many government authorities had imposed practice guidelines, as doctors are in close proximity of patients during the surgery. So these surgeries had to be cancelled or postponed. Thus, the growth of the global ophthalmic devices for market was hampered.

Key Takeaways:

The global Ophthalmic Devices Market is estimated to witness robust growth, exhibiting CAGR at high rate during the forecast period, owing to increasing acquisitions.

For instance, Ivantis, was acquired by Alcon in January 2022. Ivantis manufacturers Glaucoma Surgery (MIGS) and Hydrus Microstent that are used in cataract surgery. This acquisition will expand Alcon’s presence in the market.

North America is anticipated to witness significant growth in the global ophthalmic devices for market over the forecast period, due to increasing unhealthy lifestyle and increasing incidences of chronic eye conditions. Key players active in the global Ophthalmic Devices Market are Haag-Streit Group, Johnson & Johnson Vision Care, TOPCON Corporation, Alcon Vision LLC, Nidek Co. Ltd, Carl Zeiss Meditec AG, Essilor International S.A, and Bausch & Lomb Incorporated.

Comments

Post a Comment

Popular posts from this blog

Biopreservation Have Become Important Tool For Bioengineering, Computer Sciences, Molecular Biology, And Cellular Biology

Image
Biopreservation Biopreservation is an increasingly important area of science, spanning fields as diverse as cryobiology, bioengineering, computer sciences, molecular biology, and cellular biology. The field is expanding rapidly in response to new challenges, including stem cell research, personalized medicine, and cancer research. In order to optimize the process for each particular application, it is crucial to evaluate the benefits and drawbacks of various techniques. The processes use natural macrobiotics to enhance food safety and preserve their quality and nutritional content. The most common biopreservatives are produced by lactic acid bacteria, which are antagonistic to most foodborne pathogens. Lactic acid bacteria are able to produce a variety of antimicrobial compounds, including acetic acid and hydrogen peroxide. In addition, some lactic acid bacteria can also produce nisin, a highly effective preservative. Another form of Biopreservation is inoculation, in which natural b...
Read more

Cancer Biologics Is A Biological Therapy That Is Made By Reproducing, Or Growing, Cells In A Carefully Controlled Laboratory Setting

Image
Cancer Biologics Cancer Biologics are drugs that use a patient’s body to fight the disease or to reduce side effects from other treatments such as chemotherapy and radiation. The word biologics refers to substances made from living organisms or their products and used as diagnostic, preventive or therapeutic agents. Some of the ways these drugs work are to help the immune system recognize and fight cancer cells or to suppress the immune system’s inflammatory response that can cause serious side effects. As more biologic drugs are approved by regulatory bodies for the treatment of cancer, the worldwide Cancer Biologics Market is anticipated to develop significantly over the course of the projected period. Biological therapy may also make it easier for the immune system to kill cancer cells by blocking signals that cancer cells send out to hide from the body’s normal defenses. This type of therapy is a highly active area of cancer research. There are many different types of cancer trea...
Read more

Global Battery Market Is Expanding Owing To Increasing Resource Conservation And Growing Public Awareness

Image
Battery Market Overview: Batteries convert chemical energy to electrical energy. They contain four key components -- a positive (+) and negative (-) electrode, a separator to prevent contact between the two, and an electrolyte solution that allows electrons to flow from the anode to the cathode. These electrons are what power our electronic devices, such as mobile phones and laptops. The uses of battery range from wristwatches and hearing aids to automobiles, emergency power supplies, and storing renewable energy from solar panels. They are also used as an alternative to fossil fuels in hybrid and electric vehicles. Lithium-ion batteries are able to store more energy than their predecessors, and can be recharged hundreds of times Market Dynamics: Increasing investments are estimated to augment growth of the global Battery Market during the forecast period. For instance, Contemporary Amperex Technology Co., Limited, has decided to invest 7.4 billion USD, for building a 100GWh battery p...
Read more