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Global Ophthalmic Devices Market Size is Expected to Reach $62.11 Billion by 2022

Increasing prevalence of eye related diseases worldwide, rapid technological advancements in ophthalmology, rising focus on customer training & education, and high approval rate of digital devices worldwide drive the growth of the global ophthalmic devices market. The vision care devices segment accounted for nearly half of the total market. On the other hand, based on region, North America is expected to dominate throughout the study period.

/EIN News/ -- Portland, OR, July 11, 2019 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ophthalmic devices market was estimated at $46.02 billion in 2015 and is expected to hit at $62.11 billion by 2022, registering a CAGR of 4.3% from 2014 to 2022. The report provides a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.

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Rising prevalence of eye related diseases worldwide, rapid technological advancements in ophthalmology, increasing focus on customer training & education, and high adoption of digital devices worldwide fuel the growth of the global ophthalmic devices market. On the other hand, low awareness about eye related diseases and lack of skilled professionals check the growth to some extent. Nevertheless, several exclusive programs and initiatives worldwide to reduce the burden of eye related diseases are expected to create multiple opportunities for the key players in the industry.

The vison care segment to lead the trail during the estimated period-

Based on product, the vision care devices segment generated the highest share in 2015, contributing to nearly half of the total market. Simultaneously, the surgical devices segment is anticipated to showcase the fastest CAGR of 6.3% till 2022.

North America to rule the roost-

Based on geography, North America accounted for more than one-third of the total market share in 2015and is expected to dominate throughout the forecast period. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 4.7% during 2014–2022.

Leading market players-

The key market players analyzed in the global ophthalmic devices market report include Carl Zeiss Meditec AG, Essilor International S.A., Nidek Co., Ltd., Ziemer Ophthalmic Systems AG, HAAG-Streit Holding AG, Novartis AG, Johnson & Johnson, Valeant Pharmaceuticals International, Inc., Topcon Corporation, and Hoya Corporation. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.

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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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