According to FutureWise analysis the market for Ophthalmology Diagnostics and Surgical Devices is expected to reach US$ 87.75 billion by 2031 at a CAGR of 6.80%.
A branch of medicine that deals with the structure, function, and disease of the eye is ophthalmology. An ophthalmic device is a medical device that is used to diagnose, operate, and correct vision. Due to the high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other issues related to vision, these devices gain increased importance and adoption. Global prevalence of various ophthalmic disorders, such as glaucoma, cataracts, and diabetic retinopathy, and an aging population are all contributing to the burden of avoidable blindness. Ophthalmology covers a wide range of diagnostic devices, surgical procedures, and other equipment. In order for the ophthalmological industry to function effectively, these aspects are critical. The diagnostic devices help the ophthalmologists conduct detailed examinations of the periphery and central areas of the eyes and aid in the diagnosis of ophthalmic disorders. According to the WHO, aging is the leading cause of eye diseases and conditions. The condition develops slowly as the strength of the lens in the eye diminishes with age and reduces vision. Thus, the incidence of age-related ocular disorders is likely to rise as the world population ages. Additionally, growth is expected to be driven by an increase in R D activities for novel devices related to vision problems and rising awareness about devices used in the field of ophthalmology. An increase in the prevalence of diabetic retinopathy, visual impairment, blindness, bulging eyes, diabetic macular edema, ocular hypertension, retinal detachment, uveitis, and refractive errors is also expected to increase demand for ophthalmic devices.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Ophthalmology Diagnostics and Surgical Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Ophthalmology Diagnostics and Surgical Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.