Ophthalmic Instrument Manufacturing
Over the five years to 2019, the Ophthalmic Instrument Manufacturing industry has benefited from a progressively aging US population, as eye problems closely associated with age, such as macular degeneration, cataracts, glaucoma and diabetic retinal disease, have led to a rise in ophthalmic surgeries, which increased demand for ophthalmic equipment sold by this industry. In addition, advancing age has sent an increasing number of seniors to optometrists to seek corrections for common refractive eye disorders, such as nearsightedness. A projected continuation of these trends, namely the aging US population, technological advancements in corrective vision procedures and strong demand from overseas markets are expected to support the industry over the five years to 2024. Industry growth will be slightly limited by stagnation in the number of people with private health insurance, brought on by changes in healthcare legislation. However, these changes will have a relatively small impact on vision insurance, keeping any threats to industry revenue minimal.
This industry manufactures ophthalmic diagnostic instruments and surgical equipment used in eye-related medical procedures. Examples of diagnostic equipment include optical coherence tomography scanners, ophthalmic ultrasound systems, cameras, scopes, tonometers and lighting equipment. Examples of surgical equipment include ophthalmic lasers, as well as cataract, glaucoma, refractive and other surgery devices.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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