SOURCE: MarketResearch.com

MarketResearch.com

November 08, 2011 10:08 ET

Global Ophthalmic Device Market to Grow 4% Annually Through 2017

ROCKVILLE, MD--(Marketwire - Nov 8, 2011) - MarketResearch.com has announced the addition of the new report "Ophthalmic Devices Market to 2017 - Glaucoma and Cataract Surgery Devices, Minimally Invasive Procedures in Ophthalmic Surgery to Drive the Ophthalmic Surgery Market," to their collection of Medical Devices market reports. For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Ophthalmic-Devices-Glaucoma-Cataract-Surgery-6623038/

The global ophthalmic devices market is expected to grow at a compound annual growth rate (CAGR) of 4% to reach $52.7 billion in 2017 from $39.2 billion in 2010. Factors such as the increasing incidence of eye disease and the growing elderly population are driving the ophthalmic device market. Minimally invasive surgical procedures and advances in femtosecond laser technology are expected to drive growth of the ophthalmic surgical devices category. Emerging countries such India and China will show potential for market growth due to the presence of a large patient base in rural areas.

In 2010 the vision care category was the largest category in the global ophthalmic devices market, accounting for 87% of the overall market. The global vision care category was valued at $34 billion in 2010 and is forecast to grow at a CAGR of 4% to reach $46 billion in 2017. The vision care category primarily comprises spectacle lenses and contact lenses and is expected to be driven by a large target population using vision care devices for aesthetic as well therapeutic purposes.

The global ophthalmic devices market is dominated by Essilor International and Johnson & Johnson Vision Care (J&J Vision Care) accounting for a combined market share of 19% in 2010.

Essilor is the market leader in corrective lenses and offers a range of corrective lenses through established brand names such as Varilux, Crizal, Thin&Lite, Xperio and Definity. It has the largest optical lab network in the US and its growth can be attributed to the multiple acquisitions of prescription laboratories which have helped to expands both its product line as well as its geographical presence. Essilor and J&J Vision Care dominate the ophthalmic devices category due to a large consumer base across the world through a large distribution network."

For more information, visit http://www.marketresearch.com/GBI-Research-v3759/Ophthalmic-Devices-Glaucoma-Cataract-Surgery-6623038/

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