Latin America Ophthalmology Devices Market is estimated to reach $4.47 billion by 2021 | Market Data Forecast
The Latin America Ophthalmology device market
in 2016 is a $3.45 billion market and is forecasted to reach $4.47 Billion by
the year 2021 with a significant growth rate of 5.3% in the forecast period.
The Ophthalmology devices industry is a key growth area in the medical world
with an increasing demand for solutions to improve the lives of millions of
people. The increasing prevalence of aging population and various ocular
diseases has created tremendous opportunities in the global ophthalmic devices
market that include cataract, refractive, glaucoma surgical devices and so on.
The growth is likely is sustain in the near future with the increasing
awareness among individuals and rapid approvals.
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Ophthalmology is the branch of medicine that
deals with diseases that are related to eyes, anatomy and physiology.
Ophthalmology devices include surgical devices which are used primarily for
treating conditions relating to eye. The ophthalmology devices are a tremendous
help in optimising the treatment process for eyes making it more convenient for
both ophthalmologist and patients.
Medical device market has witnessed the
emergence of ophthalmology devices as one of the leading segment in the market.
The market is primarily driven by the rising prevalence of eye diseases with
increasing aging population and advancement in ophthalmology devices. The
growth is also attributed to the rising expenditure on healthcare, government
investments in healthcare and continuous developments and innovations in the
medical field. However, factors like lack of healthcare insurance in many
developing countries, lack of knowledge about diseases like glaucoma among
individuals and poor infrastructure are some of the factors restraining the
growth of the market.
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The Latin America ophthalmology device market
is studied under various segments based on the disorders, applications and
devices. Based on application, the market is categorised as surgery, vision
care and diagnostics & monitoring devices. By type of disorders, the market
is analysed under Cataract, Vitero retinal, refractor disorder and glaucoma. On
the basis of devices, the market is segmented as canaloplasty device and
computerised field analyser. Based on geography, Asia-Pacific market is
segmented as Brazil, Mexico and Argentina.
The leading companies in the ophthalmology
device industry include Johnson & Johnson, Abbott Medical Optics Inc., Carl
Zeiss Meditec, Hoya Corporation, Essilor International, Alcon Inc., Topcon
Corporation, HAAG-Streit Group, Ziemer Ophthalmic System, Bausch and Lomb Inc.
and Nidek CO Ltd.
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