#CAGR #Ophthalmic #Devices #Market #Size #worth #USD
Pune, India, Oct. 12, 2022 (GLOBE NEWSWIRE) — The global ophthalmic devices market size is expected to showcase an exponential growth by reaching USD 32.36 billion by 2027 while exhibiting a CAGR of 4.2% between 2020 and 2027. This is attributable to the increasing prevalence of eye disorders across the globe. Fortune Business Insights, in its latest report, titled, “Ophthalmic Devices Market Size, Share & COVID-19 Impact Analysis, By Surgical (Implants, Consumables, and Equipment) and Vision Care (Contact Lenses and Ocular Health) By End User (Hospitals, Ophthalmic Clinics and Others) Regional Forecast, 2020-2027,” observes that the market stood at USD 25.04 billion in 2019 and is projected to showcase a considerable growth in the forthcoming years.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 4.2% |
| 2027 Value Projection | USD 32.36 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 25.04 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 150 |
| Key Players Covered | Alcon (Geneva, Switzerland), Carl Zeiss Meditec (Oberkochen, Germany), Johnson & Johnson Vision Care, Inc. (Jacksonville, U.S.), The Cooper Companies Inc. (California, U.S |
| Ophthalmic Devices Market Growth Drivers | Increasing Prevalence of Eye Disorders to Spur Demand |
| Declining Surgical Procedures amid COVID-19 to Affect Market Growth | |
| North America to Remain Dominant; Increasing Adoption of Advanced Technology to Bolster Growth |
Industry Development:
- August 2020 – Bausch & Lomb announced the launch of its new product, INFUSE silicone hydrogel disposable contact lens. The product adopts the company’s ProBalance technology and is manufactured by using the next-generation material to prevent dryness of the eyes.
- January 2019 – Bausch & Lomb Inc., a global ophthalmic devices provider, announces the…
Read on GNW: With 4.2 % CAGR, Ophthalmic Devices Market Size worth USD
