STAR Conferences WCOP-2018 have teamed up again to bring you an inspirational conference in the revolutionary field of Optics and Photonics.
World Congress on Optics and Photonics is the premier interdisciplinary forum for the presentation of new advances and research results in the fields of Optics and Photonics.
The Conference revolutionizes on innovations, challenges and opportunities in the new era of optimizing Laser Optics & Photonics research reforms.
The event will be an ideal platform for networking and optimizing Laser Optics & Photonics development. The conference will bring together leading academic scientists, researchers and scholars around the world for the new era of innovations in the fields of Laser Optics & Photonics.
Global Ophthalmology Devices Market Set to Grow at 7.3% CAGR
North America is estimated to have the largest share in the global ophthalmology devices market in 2017, followed by Europe, and Asia. Developed geographies like North America and Europe are likely to grow at low CAGRs.
Ophthalmology Drugs and Devices Market Revenue, By Types, 2010 - 2017 ($Billion)
The total market for the ophthalmology devices is estimated to be ~ $11.3 billion in 2019, growing at a CAGR of 7.3%. Alcon, (U.S.), Bausch & Lomb, (U.S.), Abbott Medical Optics (U.S.), Johnson & Johnson (U.S), are the leading players in the global ophthalmology devices market.
The cataract surgery devices market is estimated at ~ $4.4 billion in 2019 with intraocular lens market comprising ~ 77% of the entire cataract surgery market and growing the fastest with a CAGR of ~ 8.5%. The phacoemulsification market is relatively steady and growing at a rate of 6.8% and is valued at ~ $1 billion in 2009. The refractive error market is estimated at ~ $ 6.7 billion in 2009, with the contact lens market valued at ~ 85% of the total refractive error market and growing at a CAGR of 7.5%.
Global Ophthalmology devices market, by products:
The devices analyzed are Intra Ocular Lens (Cataract), Phacoemulsification Systems (Cataract), Laser-Assisted In Situ Keratomileusis (LASIK) (Refractive Error), Contact Lens (Refractive Error) and Vitrectomy Systems (Other Retinal Disorders).
The contact lens market contributes the highest amongst the ophthalmology devices market with a share of ~ 48%, followed by IOLs (Intraocular lens) with 28%. The U.S. commands the largest share of the global ophthalmology devices market, primarily due to high patient awareness, quality of healthcare services, and systemized reimbursement structure.
The global photonics market size is estimated to reach USD 724.22 Billion by 2021, registering a CAGR of 8.4% between 2016 and 2021. Photonics are widely recognized and are used as optical fiber in data transmission and storage, lasers in manufacturing, welding & cutting process, detection systems, LEDs & CFLs for advanced lighting, and LEDs and LCDs for displays. Photonics products offer high performance and durability with energy saving capabilities. These products also reduce carbon footprint, making it environmentally friendly. All these factors drive the market for photonics globally. Companies carry out intense research & development activities to innovate and develop new products which open up new avenues of applications.
Asia-Pacific accounts for the largest share of the global photonics market. It is also the fastest-growing market. China is projected to account for the largest share in the Asia-Pacific in 2021 with India registering the fastest growth rate during the forecast period.
Japan houses prominent photonics companies such as Nikon Corporation, Shin-Etsu Chemical Company Limited, and Hoya Corporation. The U.S. is the largest market for photonics in North America