In 2010, the European diagnostic and interventional ophthalmic device market was valued at over €650 million. Through 2017, this market will be driven by an aging European population, who is directly associated with a larger incidence of ocular conditions, such as cataracts, glaucoma and refractive problems. These conditions will drive the demand for ophthalmic diagnostic and interventional equipment as the elderly require diagnosis and correction of eye problems. The markets associated with cataract procedures, namely IOLs and phacoemulsification consoles, are expected to grow correspondingly.
In addition, the markets for many ophthalmic devices are driven by technological innovation. These include imaging devices such as OCTs, ophthalmic ultrasound and corneal topographers. Because of rapid changes in technology, these devices become obsolete fairly quickly, thus driving the replacement market.