North America holds the largest share of the ophthalmology diagnostics and surgical devices market.

Ophthalmology is a medical specialty that focuses on the treatment, diagnosis, and prevention of illnesses of the eye and visual system. A range of clinical diseases can impact the visual system, the eye, and its surrounding components. Microsurgery and ophthalmology are both involved in the treatment and diagnosis of various diseases in ophthalmology. The many types of ophthalmology surgeries  are vitreoretinal surgery, cataract surgery, glaucoma surgery, and refractive surgery. In addition, the devices used in ophthalmology diagnostics include auto refractometers, slit lamps, and tonometers.


Key Market Trends

Intraoperative optical tomography is gaining popularity in the ophthalmology diagnostics and surgical devices market (iOCT). For example, a study published in the journal of Ophthalmic and Vision Research in 2019 discovered that iOCT can aid in the explantation of a displaced intraocular lens without the need for retinal fractures.

A study published in the journal Retina in September 2018 discovered that the 4K screen provides superior visibility of the optical coherence tomography data stream than the semi-transparent ocular view. The use of OCT in conjunction with a digital visualisation system could improve vitreoretinal diagnosis and surgery.

To increase their product range, major players in the ophthalmology diagnostics and surgical equipment market are developing new products and services. For example, in May 2020, Alcon Laboratories, Inc. initiated a programme to educate professionals on the benefits of treating meibomian gland dysfunction, which is the leading cause of evaporative dry eye.

Because of the high prevalence of technologically advanced medical equipment and enhanced healthcare facilities for better detection of ocular problems, North America holds the largest share of the ophthalmology diagnostics and surgical devices market.

COVID-19 Impact Analysis

COVID-19 is an infectious disease that first appeared in late December in the Hubei province of Wuhan, China. The virus that causes severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) is highly infectious and spreads from person to person. According to the World Health Organization, the disease has spread to nearly 213 nations worldwide since the outbreak in December 2019.

Pharmaceutical and biotech businesses, in collaboration with governments around the world, are working to combat the COVID-19 outbreak, from vaccine development to pharmaceutical supply chain planning. Approximately 115 vaccine candidates and 155 compounds are currently being developed in the R&D pipeline. Furthermore, routinely used medications like hydroxychloroquine have seen a substantial increase in demand for the management of COVID-19.Because many affluent countries are experiencing a shortage of these medications, the increasing demand has provided enormous prospects for developers of COVID-19 management drugs. As a result of the need for vaccinations and treatment medications for COVID-19, the pharmaceutical and biotechnology industries are predicted to increase significantly in the future.

In several countries, COVID-19 has affected the supply chain of basic materials used to manufacture ophthalmology diagnostics and surgical instruments. Furthermore, due to the pandemic, makers of ophthalmic diagnostics and surgical devices have delayed their manufacturing, resulting in a decline in market growth. As a result, COVID 19 is projected to have a big influence on the ophthalmology diagnostics and surgical devices market.

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