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According to a new series of reports on the European market for diagnostic and interventional ophthalmic devices by iData Research, corrective eye surgeries are responsible for a large portion of the growth of the market. These surgeries directly drive the intraocular lense (IOL), ophthalmic viscoelastic device (OVD), and ophthalmic laser markets. Because this is such a large market, corrective surgeries are also a driving force for the development and sale of other diagnostic and surgical equipment such as phacoemulsification consoles, corneal topographers, and optical biometers, all of which are used in either diagnosis of refractive conditions or surgery preparation.
A major trend in the ophthalmic market is the consolidation of multiple pieces of equipment into a single device. This is being driven by a desire to increase space and cost effectiveness of devices for ophthalmologists. This is clearly being seen in the optical coherence tomography (OCT) market where we are noticing devices sold with other modalities attached to them such as: fundus cameras, scanning laser ophthalmoscopes, fluorescein angiography devices and more. The prevalence of ocular diseases such as cataracts and glaucoma in the aging population is also driving the market. In addition, refractive problems such as myopia, hyperopia and astigmatism are more likely to occur in older people. These factors drive demand for specialized ophthalmic equipment to identify and treat these conditions.
“The fastest growing segment in the diagnostic and interventional ophthalmic devices market is the phacoemulsification console market. The market is expected to grow because of demand placed by the increasing prevalence of cataracts,” explains Dr. Kamran Zamanian, CEO of iData. “Moreover, the average selling price of these machines will rise slightly due to the incorporation of technological innovations.”
Many ophthalmic device manufacturers have recently entered the European market. The market is limited by competition from manufacturers that are either new or trying to expand into the European market. Some of these companies which are based in Italy, Japan or China tend to severely undercut the prices in order to gain market share. The lower pricing and reduction in market share results in an overall adjustment in the average selling prices (ASPs). This is evident in the ophthalmic ultrasound and fundus camera markets, where Chinese and Italian manufacturers are entering the market with lower cost options.
The capital equipment in this market have high ASPs and single-use devices are moderately expensive and in high demand. Thus by specializing in these few markets, they can control the bulk of the total market share. Alcon is the leading competitor in the European diagnostic and interventional ophthalmic device market with notable shares in the IOL and phacoemulsification console segments.
Alcon’s strong position in the markets for surgical equipment gives the company an advantage when it comes to the sale of consumable products. Having equipment in the operating room (OR) means that Alcon representatives maintain close relationships with surgeons. While representatives are in the operating room to perform upgrades and maintenance, they are able to assess their clients’ needs and recommend additional solutions. This generates an opportunity to discuss consumable products on a more frequent basis.
Alcon also competes in multiple other markets which contribute to their overall market lead. These markets include ophthalmic ultrasound devices, wavefront abberometers, phakic IOLs and ophthalmic lasers. Additional competitors in the European diagnostic and interventional ophthalmic device market include Abbott Medical Optics, Carl Zeiss Meditec, Bausch & Lomb, Topcon, Lumenis, Haag-Streit, Ellex, Nidek, STAAR Surgical Company, Oculus, Hoya, Iridex, Heidelberg Engineering, Quantel, CSO, Zeimer Ophthalmic, Sonomed and Reichert among others.
For Further Information
More on the diagnostic and interventional ophthalmic devices market in Europe can be found in a series of reports published by iData Research entitled the European Market Report Suite for Interventional Opthalmic Devices. The suite covers reports on the following markets: ophthalmic coherence tomography, fundus cameras, slit lamps, perimeters, tonometers, ophthalmic ultrasound devices, corneal topographers, wavefront abberometers, optical biometers, phacoemulsification consoles, intraocular lenses, phakic intraocular lenses, ophthalmic viscoelastic devices and ophthalmic lasers.
The iData report series on ophthalmic devices covers the U.S. and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, market value, forecasts, as well as detailed competitive market shares and analysis of major players’ success strategies in each market and segment. To find out more about ophthalmic device market data, register online or email us at [email protected] for a European Market Report Suite for Interventional Opthalmic Devices brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Dental Operatory Equipment, X-Ray Imaging, Vascular Access, Peripheral Vascular, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Diagnostic Imaging, Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Oncology, Ultrasound, Laparoscopy, Urology, Gynecology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large and Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics and more.
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