All Eyes On Ophthalmic Devices Market

14 Jul 2015

In the ophthalmic device sector, intraocular lens surgery is expanding way beyond the cataract market with paradigm shifting technology. The vast presbyopia market now has an FDA-approved "corneal inlay" option, micro invasive glaucoma surgery has created an entirely new device segment, and corneal cross-linking has the potential to transcend its role as an effective treatment for a corneal disease to possibly being the next big thing in the non-surgical treatment of refractive errors.

The ophthalmic devices market is expected to see steady growth in response to escalating ophthalmic disease rates, lifestyle choices, and environmental influences. The US population over age 65 will swell to about 73 million by 2030 – about 33 million more than today – and this demographic shift goes hand-in-hand with a burgeoning cataract market. The societal trend toward maintaining a more youthful image is behind the sweeping consumer demand for reduced spectacle dependence, and society’s 24/7 obsession with smartphones and "screen time" has fostered what some sources are calling a myopia epidemic.

Cataract removal is the most commonly performed surgery in the world with over 20 million procedures conducted annually. Myopia, or nearsightedness, claims roughly 42% of the US population, up from...

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