According to market research by Persistence Market Research, the global market for ophthalmic devices is predicted to increase significantly by 2020. The prediction is based on information from a number of geographic locations, including the United States and countries in Europe and Asia. Increasing prevalence of eye disease contributes to the ophthalmic devices market, which includes vision care, diagnostic, and surgery devices.
Higher incidence of common eye disorders such as age-related macular degeneration, diabetic retinopathy, cataracts, and glaucoma are leading more and more patients all over the world to seek out treatment for vision loss. Aging populations, lifestyle-associated diseases (such as diabetes or high blood pressure), and government healthcare initiatives are also contributing to increases in the ophthalmic devices market.
North America currently leads the world in the largest ophthalmic devices market, and Europe continues to see increases as well. But it is the rising numbers of age-related macular degeneration and cataracts in India and China that puts Asia on track for the largest increase in the market, especially in the coming five years or so. Rising healthcare costs and lack of insurance and awareness in some of these countries pose barriers to treatment, but an overall increase is expected.