Ocular Surgery Market to Reflect Steady Growth Rate by 2018 to 2026
According to World
Health Organization (WHO), in 2010, around 285 million people were
reported to suffer from visual impairment, with cataract reported to
be the major cause. According to National Federation of the Blind, in
2014, around 1.3 million people were legally blind in the U.S.
Furthermore, every year, over 75,000 people in the U.S. are expected
to become blind or visually impaired. According to American Academy
of Ophthalmology, in 2015, highest prevalence of primary open angle
glaucoma (POAG) was reported in African countries. According to NCBI,
2014, primary open-angle glaucoma (POAG) is the leading cause of
irreversible blindness in Brazil.
Market Dynamics
Increasing
prevalence of ocular
disease such as cataract and glaucoma has created an increasing
demand for ocular surgery worldwide. According to European Blind
Union, in 2016, over 30 million people were partially sighted or
blind in Europe; an average of 1 in 30 people experience sight loss;
and around 90% of visually impaired persons are aged 65 years and
above in the region. Rapidly increasing aging population and high
incidence rate of diabetes are the major factors propelling growth of
the ocular surgery market. Furthermore, companies are developing
advanced methods of treatments, which are much faster, easier,
pain-free and less traumatic than conventional methods. This in turn,
is expected to contribute to the growth of the ocular surgery market.
Market Taxonomy
This report segments
the global ocular surgery market on the basis on procedure, device
type and regions. On the basis on the procedure type, the market is
segmented into cataract, glaucoma, and vitrectomy surgery. Device
type segmentation for ocular surgery comprises cataract surgery
devices, glaucoma surgery devices, and vitrectomy surgery devices.
For comprehensive understanding of market dynamics, the global ocular
surgery market is analyzed across key geographical regions namely,
North America, Europe, Asia Pacific, Latin America, Africa, and
Middle East. Each of these regions is analyzed on the basis of market
findings across major countries in these regions for a macro-level
understanding of the market.
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Growing aging
population, awareness initiatives to lead to early diagnosis and
treatment, expected to drive growth of the market
Increasing
prevalence of ocular diseases such as cataract and glaucoma have
created an increasing demand for ocular surgery globally. According
to the National Eye Institute, in 2010, over 24 million people 40 of
age and above were reported to have cataracts in the U.S., and this
number is projected to reach around 40 million by 2030. According to
NCBI, in 2012, 70% of all cases of blindness in Germany accounted for
the aging population.
Blindness can be
prevented through a combination of education, medical healthcare
facilities. For instance, The National Eye Institute (NEI)
established National Eye Health Education Program (NEHEP) to help
increase awareness about glaucoma among the populace.
Key players
operating in the ocular surgery market include Johnson & Johnson
Vision Care Inc, Alcon, Carl Zeiss Meditec, Bausch & Lomb, Ellex
Medical Lasers, Topcon Medical Systems, Dutch Ophthalmic Research
Center (International) B.V. (DORC), and Lumenis
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