Demographics and Innovation Drive US Ophthalmic Device Market Growth
An aging population combined with widespread technological innovation is now revitalizing the US ophthalmic device market. According to a newly published report by Millennium Research Group (MRG), US ophthalmologists performed over 5.4 million cataract, refractive, retinal, and glaucoma procedures in 2004, generating device revenues in excess of $900 million. As an increasing proportion of the US population enters the high-risk years for these age-related conditions, procedure volumes and revenues will continue to climb, with the latter attaining 8% annual growth through the next five years. Beyond simple demographic change, technological advances are fostering ongoing market growth: while innovative, premium-price devices such as advanced intraocular lenses (IOLs) are driving average selling prices upwards, such advances also expand the eligible patient population for ophthalmic procedures. These trends will enable the US ophthalmic device market to exceed $1.3 billion by 2009.
MRG’s US Markets for Ophthalmic Devices 2005 examines the wave of technological innovation now redefining ophthalmic surgery in the US. In analyzing the markets for IOLs, viscoelastics, phacoemulsification consoles, refractive surgery, keratomes and blades, ophthalmic lasers, vitrectomy consoles, and glaucoma shunts, the report determines that industry-leaders Alcon (ACL) and Advanced Medical Optics (EYE) are best positioned to capitalize on the growing demand for innovative ophthalmic devices. Thanks to technologically advanced product lines and established relationships with hospitals and physicians, both companies will gain ground in areas where Bausch & Lomb (BOL) was once a strong presence. MRG’s new report also examines Advanced Refractive Technology (VJET.OB), Becton Dickinson (BDX), Carl Zeiss Meditec (CZMWF.PK), Cytosol, Eyeonics, IntraLASE (ILSE), IOLtech, Iridex (IRIX), Laserex, Lumenis (LUME.PK), Molteno, Moria, New World Medical, Nidek, Norwood Eye Care (NABYF.PK), Staar Surgical (STAA), and Wavelight (WVLTF.PK).
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
- Contact Information
- Marlon Deogracias
- Account Executive
- Millennium Research Group Inc.
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