Press Release
Press Release
The global ophthalmic devices industry is being driven by the increasing ageing population, rising ophthalmic diseases, large investments in R&D, supportive government policies, and increasing awareness of vision impairment and related treatments. The ophthalmic devices industry is divided into surgical devices, diagnostic devices, and vision care devices based on their function. Among these, the surgical devices segment is expected to hold a significant share during the forecast period owing to an increase in the number of surgeries to treat cataract, glaucoma, detached retinas, retinal tears, diabetic retinopathy, and other eye-related problems. On the basis of region, North America is expected to significantly contribute to the growth of the industry with increased investments in ophthalmic devices by people to treat their eyes. Meanwhile, the Asia Pacific is anticipated to witness a healthy growth during the forecast period owing to a growing population and the improving healthcare sector in the region’s developing countries like India and China.
The market participants are adopting strategies to dominate the market and increase their customer base. For instance, in August 2020, Bausch Health Companies Inc. (NYSE: BHC) announced its plan to spin off its eye health business into an independent publicly traded entity named Bausch + Lomb – NewCo. The aim of the spin-off is to increase strategic focus and financial transparency. Such investments by the key market players are expected to aid the market growth in the forecast period.
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The major players in the global ophthalmic devices market are Carl Zeiss Meditec AG, Essilor International S.A., Haag-Streit Holding, Hoya Corporation, NIDEK CO., LTD., and Bausch Health Companies Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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