The Ophthalmic Device Market
Although a fair amount of consolidation has taken place among ophthalmology technology companies in teh last half decade, a number of entrepreneurial firms have surfaced with promising innovations that will keep the specialty vibrant with possibility. The company profiles (in MedMarket Diligence report #G125) include reference to the acquisitions taking place at some of the sector’s largest firms as well as the early stage developments that are taking place behind the scenes at venture capital backed companies.
In addition to the large and the small, many of hte mid-sized companies that support the ophthalmologist continue to iterate and refine essential tools that will make surgical interventions faster, easier, more accurate and more affordable.
The ophthalmic medical device market can be organized into three major segments: (1) Diagnostics, which includes hand-held office-based diagnostic instruments, )2) Cataract surgery products, including intra-ocular lenses, viscoelastics and phacoemulsification systems, and (3) Refractive surgery products — Exxcimer and Femtosecond lasers, microkeratomes and usage-based procedure cards. In addition to devices, the ophthalmic market includes pharmaceuticals and eye care products such as contact lenses and solutions.
The worldwide ophthalmic products market exceeds $22 billion (US) and is growing at more than 10% per year. Without the inclusion of consumer eye care products, the ophthalmic products market apporximated $17 billion in 2006.
The worldwide market for ophthalmic products, like most medical technologies, is concentrated in western nations, but does not correlate with the distribution of the burden of ocular diseases. As the followign table demonstrates, the distribution of healthcare dollars spent on ophthalmic products is spent largely in the US and Western Europe.
Source: MedMarket Diligence report #G125, “Products, Technologies, Markets and Opportunities in Ophthalmology Surgical, Diagnostic, Device and Drug Markets Worldwide, Forecasts 2004 – 2012”. Â See Report #G125.
The report #G125, “Products, Technologies, Markets and Opportunities in Ophthalmology Surgical, Diagnostic, Device and Drug Markets Worldwide, Forecasts 2004 – 2012”, may be purchased online for immediate download from this link, or may be purchased via Google Checkout, below.