New York, May 13, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vision Care Devices And Equipment Global Market Report 2022" - https://www.reportlinker.com/p06277205/?utm_source=GNW
The global vision care devices and equipment market is expected to grow from $24.47 billion in 2021 to $27 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The market is expected to grow to $37.79 billion in 2026 at a compound annual growth rate (CAGR) of 8.8%.
The vision care devices and equipment market consist of sales of vision care devices and equipment which are used to treat eye vision problems.
The main types of vision care devices and equipment are intraocular lenses, ophthalmic lasers, glaucoma drainage devices, contact lenses, and others.An intraocular lens is an artificial replacement for the lens of the eye.
The various application of vision care devices and equipment are vision care, diagnosis, and surgery that are used by various end-users such as hospitals, ambulatory surgery centers, optical centers, and others.
North America was the largest region in vision care devices and equipment market in 2021.Asia Pacific was the second-largest region in the vision care devices and equipment market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The rising use of electronic devices is a continuous driver for the growth of the vision care devices and equipment market.Usage of laptops, mobiles, PCs, and other electronic devices has increased in day-to-day life, which is the major factor responsible for eye-related problems.
According to a survey by Deloitte, Americans collectively check their phones over 8 billion times per day. On average, every person spends about five hours daily browsing the internet and using apps.
Lack of awareness among people regarding eye diseases including glaucoma, macular degeneration, and others affects the market growth of the vision care devices and equipment market. According to a study in the USA, around one-third of survey respondents are not aware of glaucoma, more than half were unaware of macular degeneration, and one-fourth of survey respondents were not aware of any eye conditions.
Technological advancement in vision care devices has transformed eye care.Vision technology has witnessed some great scientific breakthroughs and innovations in the past few years and these advances are rapidly changing the future of those with chronic eye conditions.
The innovation includes DriveSafe lenses with anti-glare coating to help with poor driving conditions, photochromic contact lenses that block the sun’s harmful UV rays, and blue light blocking glasses among others. Major companies such as Johnson & Johnson Vision have invested in adaptive lenses.
In the USA, eyeglass frames and prescription lenses are regulated by FDA.These are classified as class 1 medical devices.
These devices are exempt from filing a premarket notification application, and FDA clearance before marketing a Class 1 device in the United States.Due to this prescription eyeglasses sold via the internet are still considered an FDA-regulated product.
In European Union (EU) medical devices including contact lenses are regulated by European Commission (EC).The EC works in close conjunction with each country (’Member State) respected Health Authorities to integrate the various national requirements into a single law that could be rolled out and applied across the EU.
The EU region is set to roll out new medical device regulations (MDR) in 2020, under which the contact lenses are included. These new regulations shed light on the importance of prioritizing safety and efficacy before achieving marketing approval, and on transparency of device information. These new EU regulations will have an impact on contact lens approvals in Europe.
The countries covered in the vision care devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.
Read the full report: https://www.reportlinker.com/p06277205/?utm_source=GNW
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