Increasing acceptance of aesthetic ophthalmic devices in various aesthetic ophthalmic treatment, in many ways, is a direct consequence of how far advancements have taken place in clinical practice and scientific research. Though the market of aesthetic ophthalmology devices will create numerous opportunities, market saturation in some of the developed countries and lack of skilled aesthetic ophthalmologists in emerging economies are some of the factors that will restrain the growth of the global Aesthetic Ophthalmology Device Market during the forecast period.
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The global aesthetic ophthalmology devices market is growing significantly due to increase in prevalence in eye related disorders and advancements in technology. In addition, growing awareness about aesthetic ophthalmology rejuvenation is increasing device demand. Shortage of aesthetic ophthalmology devices providers in developing nations and increasing in age-related eye disorders will create new opportunities in the aesthetic ophthalmology devices market during the forecast period (2018-28). With advanced research and development facilities and product innovations by companies, the demand for cost-effective aesthetic ophthalmic devices is on the rise. A shift in paradigm from spectacles eyewear to contact lenses and preference of minimally invasive procedures are some of the leading trends in the global market. Growing aging population has increased the prevalence of eye related diseases globally. According to WHO, globally, 39 million blind people lived across the world in 2017, of which 5% were blind due to age-related macular degeneration.
As the aesthetic ophthalmology devices market grows in several geographical region, manufacturers in the ophthalmic industry are responding with special offerings in their aesthetic ophthalmology devices product line. A survey that examined the beauty and grooming habits among both sexes across Europe and the U.S found that 80% women across these two regions wanted to not look younger, but naturally beautiful in terms of personality, expressions and emotional well-being. It is estimated that surgical and nonsurgical aesthetic ophthalmology devices have grown with an average of more than 40% over the past 2 years.
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Aesthetic ophthalmology devices manufacturers are continuously expanding their product offerings. This will help increase the confidence of aesthetic ophthalmologists. Major end-users, including hospitals and private eye clinics, are driving the usage of aesthetic ophthalmology devices in the market. Ophthalmologists interested in performing refractive surgery can expand their services easily by incorporating aesthetic ophthalmology devices.
Globally, North America will hold the major share in the aesthetic ophthalmology devices market and will be followed by the European region. Common factors that will drive the growth of the ophthalmology devices market in these regions are growing aging population, increasing prevalence of eye disorders, increase in the number of surgical procedures, technological advancements in laser-based technology and increasing acceptance of contact lenses. Asia Pacific will be the third largest region in the aesthetic ophthalmology devices market and is anticipated to be the fastest growing region too as the region is home to world’s largest geriatric population. Moreover, the aesthetic ophthalmology devices in the region will also grow due to the large pool of population suffering from ocular diseases in India and China. Latin America, Japan and CIS-Russia will be the next moderate revenue generating regions, respectively, in the aesthetic ophthalmology devices market. However, Middle East & Africa will witness sluggish growth due to stringent and poor governance, lack of skilled ophthalmologists with aesthetic specialization and poor healthcare infrastructure.
Some of the major and leading players operating in the global aesthetic ophthalmology devices market are Allergan Plc,. Alcon Inc., Zeimer Ophthalmic Systems AG, Bausch & Lomb Inc., Abbott Medical Optics, Topcon Corporation, Carl Zeiss, Meditec AG & Haag Streit.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
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