The ophthalmology diagnostics and surgical devices market comprises products used for diagnosis and treatment of eye diseases and disorders. These products include fundus cameras, optical coherence tomography scanners, ultrasound devices, vitreoretinal surgical equipment, cataract surgical devices and others. Ophthalmology diagnostic and surgical devices help ophthalmologists to accurately diagnose eye diseases and provide effective treatment options. Advancements in ophthalmic devices have enabled procedures like vitrectomy, cataract surgery and retinal imaging with high precision. The global ophthalmology diagnostics and surgical devices market is estimated to be valued at US$ 60071 Bn in 2023 and is expected to exhibit a CAGR of 24.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The ophthalmology diagnostics and surgical devices market is expected to flourish due to increasing prevalence of eye diseases and disorders. As per the statistics by World Health Organization (WHO), globally at least 2.2 billion people have a vision impairment or blindness, of whom at least 1 billion have a vision impairment that could have been prevented or has yet to be addressed. Cataract remains the leading cause of blindness globally, causing vision impairment in over 8 million people worldwide. Moreover, the rising geriatric population is also prone to develop age-related eye conditions like glaucoma, age-related macular degeneration etc. Increasing healthcare awareness about management of eye diseases through early diagnosis is augmenting uptake of ophthalmology devices. Technological advancements have enabled development of high resolution fundus cameras, OCT systems and surgical vitrectomy equipment that facilitate accurate diagnosis and minimally invasive procedures. This is fueling revenue generation in the ophthalmology diagnostics and surgical devices market.

Segment Analysis
The global ophthalmology diagnostics and surgical devices market is dominated by the diagnostic devices segment which holds around 60% share of the overall market. This is because of the increasing prevalence of eye disorders like glaucoma, diabetic retinopathy, cataract, etc which has led to higher demand for diagnostic equipment for screening and monitoring of these conditions. Within diagnostic devices, optical coherence tomography (OCT) scanners account for the largest share due to their advantages in imaging of retinal disorders over alternative modalities.

PEST Analysis
Political: Governments across major countries are undertaking various initiatives to increase awareness about eye care and diseases. For example, national program for control of blindness in India. This is positively impacting market growth.
Economic: Rising healthcare expenditures along with growing economies is increasing accessibility of people to advanced ophthalmic devices. Countries in Asia Pacific region will witness highest growth due to economic development.
Social: Growing geriatric population worldwide prone to eye disorders like cataract and an increasing focus on eye care is driving the demand. Additionally, changing lifestyles leading to higher risk of diabetes and other lifestyle diseases will further propel the market.
Technological: Continuous innovations in ophthalmic devices has increased efficiency, reduced costs and improved outcomes for patients. Developments in fields of personalized ophthalmology, artificial intelligence and tele-ophthalmology will be the key future growth drivers.

Key Takeaways
The Global Ophthalmology Diagnostics And Surgical Devices Market Demand is expected to witness high growth over the forecast period supported by rising vision impairment worldwide.

Regional analysis: North America currently dominates the market owing to developed healthcare infrastructure and availability of reimbursement. However, Asia Pacific region will emerge as the fastest growing market due to rising healthcare standards in countries like India and China along with growing medical tourism.

Key players: The key players operating in the ophthalmology diagnostics and surgical devices market are WGL Holdings, Inc., Enking International, Green Mountain Energy, Native Energy, Cool Effect, Inc., Clear Sky Climate Solutions, Sustainable Travel International, 3 Degrees, terrapass, and Sterling Planet, Inc. These players are focusing on new product launches and geographical expansion to strengthen their market presence.

For more details on the report, Read- https://www.trendingwebwire.com/ophthalmology-diagnostics-and-surgical-devices-market-demand-and-overview/