The Global Ocular Trauma Devices Market size is expected to reach $5.3 billion by 2028, rising at a market growth of 6.7% CAGR during the forecast period
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NEW YORK, Dec. 22, 2022 /PRNewswire/ -- The Global Ocular Trauma Devices Market size is expected to reach $5.3 billion by 2028, rising at a market growth of 6.7% CAGR during the forecast period.
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Ocular trauma devices are equipment utilized in the management of ocular trauma that is caused by injuries to the area around the eyes including the eyes and eyelids. Ocular trauma is a common yet highly under-recognized cause of loss of vision. Most ocular trauma when left untreated can cause loss of vision through glaucoma or cataract.
Proper knowledge of the cause of ocular trauma followed by treatment can significantly lessen the preventable burden of it for both, ocular trauma victims and society, at large. The most common causes of ocular injuries generally include punches and blows either from any object or hands, flying shards of materials from industrial work or explosions, and other flying objects.
Some uncommon causes may include injuries caused by chemical splashes or during protests, riots, or warfare as well. The common symptoms of ocular injuries are torn or cut eyelids, hindrance in the proper working of the eye, or eyes sticking out of the socket. Since a specified description of ocular trauma does not exist, based on the institutions, ocular injuries and their symptoms can be described more inclusively.
It has been witnessed that about 20 to 25% of patients sustaining facial fractures have ocular or orbital injuries, and out of these, 80% of them most probably will have ocular trauma. Ocular trauma-induced vision loss is generally described as the best corrected visual acquits that is less than 20/40. It can also be defined as visual field defects, visually significant scotomas, or loss of contrast sensitivity.
COVID-19 Impact
There were consequently fewer elective eye surgeries carried out in hospital and clinical settings. The prohibition of trade with foreign nations and the implementation of travel restrictions led to a decline in eye diagnoses as well. Throughout the world, only emergency referrals from other health institutions, some outpatient crises, and inpatients with severe medical conditions that necessitated keeping them hospitalized were addressed by hospitals during the COVID-19 pandemic. All these factors, consequently hindered the supply chain of ocular trauma devices, along with the decreasing demand for them. Therefore, the pandemic had a negative impact on the ocular trauma devices market.
Market Growth Factors
Increasing Adoption Of Microsurgeries And Technological Advancements
Precision has become a requirement in the healthcare industry owing to rising technological advancement and the adoption of microsurgeries. Specifically, the growing number of individuals opting for ophthalmic microsurgeries has increased the demand for ophthalmic devices and instruments. Major participants in the industry are trying to meet these demands by developing innovative products that would assist in the diagnosis of ocular disorders.
Increasing Prevalence And Awareness Of Eye Disorders
Blindness and vision impairment have an impact on people's lives everywhere. Since there are fewer options to get the necessary eye care services, the burden of visual impairment can be considerably larger among low- and middle-income families in developing nations. This has motivated many governments to actively promote awareness campaigns regarding preventive blindness and vision impairment. Consequently, this has promoted the adoption of eye care and increased the number of patients visiting eye clinics.
Market Restraining Factors
Strict Product Approval Regulations
While there is a growing demand for ocular trauma devices, the introduction of subpar products has raised more precautions than cures. This has led the authorities in developed nations to attentively assess ophthalmic devices and equipment offering services. In most cases, these strict assessments have asked for the retrieval of products by the manufacturers. For example, a major manufacturer of ophthalmic devices, Alcon had to willingly recall the CyPass Micro-Stent device from all markets as the incidence of this device causing endothelial loss was discovered.
Type Outlook
Based on type, the ocular trauma devices market is categorized into implants, instruments, and disposables. The instruments segment garnered a substantial revenue share in the ocular trauma devices market in 2021. Common instruments employed in the surgeries and treatment of eye injuries include clamps, needle guides, and squint hooks. A device known as a muscle clamp, which is made of combining squint hooks, is highly preferred by ophthalmologists as it allows the simplification of operations.
Indication Outlook
On the basis of indication, the ocular trauma devices market is divided into blunt trauma, chemical trauma, and sharp trauma. The sharp trauma segment procured a considerable revenue share in the ocular trauma devices market in 2021. The most significant factor behind the growth of the segment is eye injuries that occurred during work. Many workplace injuries are caused by sharp objects, falls, trips, or contact with sharp equipment and items.
End-Use Outlook
Based on end-use, the ocular trauma devices market is segmented into hospitals, ophthalmic clinics, and others. The hospital segment witnessed the maximum revenue share in the ocular trauma devices market in 2021. The facility of efficient and affordable treatments in the hospitals along with the advancement in ophthalmic technology is accountable for the growth of the segment. Since the number of patients suffering from ocular injuries is increasing, hospitals are using newer devices and instruments, which is benefitting the market.
Regional Outlook
On the basis of region, the ocular trauma devices market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed the largest revenue share in the ocular trauma devices market in 2021. In the region, a general increase in chronic eye disorders has been observed which are caused by poor or nutrition-deficient foods and high levels of stress. The prominent growth in the aging population, the growing number of patients suffering from eye disorders, growing expenditure on healthcare have increased the number of people needing surgeries significantly. These factors have fastened the growth of the segment.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson & Johnson (Johnson & Johnson Vision Care, Inc.), Glaukos Corporation, Alcon, Inc., EssilorLuxottica SA (Essilor Instruments USA), Bausch + Lomb Corporation (Bausch Health Companies, Inc.), Carl Zeiss AG, Topcon Corporation, CooperVision, Inc. (THE COOPER COMPANIES, INC.), and Hoya Corporation.
Scope of the Study
Market Segments covered in the Report:
By End-Use
• Hospitals
• Ophthalmic Clinics
• Others
By Type
• Implants
• Instruments
• Disposables
By Indication
• Blunt Trauma
• Chemical Trauma
• Sharp Trauma
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• Johnson & Johnson (Johnson & Johnson Vision Care, Inc.)
• Glaukos Corporation
• Alcon, Inc.
• EssilorLuxottica SA (Essilor Instruments USA)
• Bausch + Lomb Corporation (Bausch Health Companies, Inc.)
• Carl Zeiss AG
• Topcon Corporation
• CooperVision, Inc. (THE COOPER COMPANIES, INC.)
• Hoya Corporation
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
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