Australia Ophthalmic Devices Market Analysis

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  • Type: Therapeutics Area
  • Published : April 2021
  • Region: APAC
  • Country: Australia
  • Report ID : 4014

  • Format: PPT, PDF

Australian Ophthalmic Devices Market: Segmented by Surgical Devices, by Diagnostic and Monitoring Devices, by Vision Correction Devices, by Vision Care Products (Spectacles & Contact Lenses), by End User (Hospitals, Specialty Clinics & Ambulatory Surgery Centres & Other End Users)- Growth, Trends, and Forecasts (2019 – 2028)

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Report Overview

The Australian Ophthalmic Device market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

According to the 2017–18 National Health Survey (NHS) of Australia, the percentage of the population with visual impairment has been increasing over the years in Australia. This is expected to increase the demand for vision correction devices in Australia, which will further help in the market growth.

Market Drivers

The ophthalmic devices are the medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices have gained increasing importance and adoption due to the high prevalence of various ophthalmic diseases, such as glaucoma, cataract, and other vision-related issues across Australia. Moreover, technological advancements in the field have also boosted the adoption rate. Over the past 10 years, significant improvements in the technology underlying ophthalmic diagnosis and treatment have led to marked improvements in visual outcomes for patients. Over the past two decades, the number of people aged 85 years and over increased by 117.1%, compared with a total population growth of 34.8% over the same period. In the year ending 30 June 2019, the number of people aged 85 years and over increased by 12,600 people (2.5%) to reach 515,700 the above data shows the Australian Rising Geriatric Population.

 

 

1. Australian Ophthalmic Devices Market Overview……………………………………….
A. Market Size
2. Market Growth Drivers…………………………………………………………..………….
A. Demographic Shift and Increasing Prevalence of Eye Diseases
B. Rising Geriatric Population
C. Technological Advancements in Ophthalmic Devices
3. Ophthalmic Devices Market Type……………………………………………
A. Surgical Devices
I. Glaucoma Drainage Devices
II. Intraocular Lenses
III. Other Surgical Devices
B. Diagnostic and Monitoring Devices
I. Autorefractors and Keratometry
II. Corneal Topography Systems
III. Ophthalmic Ultrasound Imaging Systems
IV. Other Diagnostic and Monitoring Devices
C. Vision Correction Devices
4. Ophthalmic Devices Market Segmentation……………………………………………………….
A. Vision Care Products
I. Spectacles
II. Contact Lenses
B. End User
I. Hospitals
II. Specialty Clinics & Ambulatory Surgery Centres
III. Other End Users
5. Ophthalmic Devices Major Products Market Share……………………………………
A. Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape……………………………………….……………………………
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………….……………………….
A. Alcon Inc Company overview, Product & Services, Strategies & Financials
B. Bausch Health Companies Inc Company overview, Product & Services, Strategies & Financials
C. Carl Zeiss Meditec AG Company overview, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape………………….……………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth……………………………………………………………
A. New Trends and Development of Ophthalmic Devices Market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Vision Care Products:

Based on the Vision Care Products the Ophthalmic market is divided into two major buckets namely Spectacles & Contact Lenses. Rising demand for different types of eyeglass lenses to drive the spectacles market which is used widely in the recent computerized world. Contact Lens market is further segmented as Soft Contact Lenses, Rigid Gas Permeable Lenses, & Hybrid Contact lenses.

By End User:

Based on end-users the Australian Ophthalmic Devices market is segmented under Hospitals, Speciality Clinic & Ambulatory Surgery Centres, & other end users. Many suppliers provide ancillary services to support clinicians and hospitals in the use of ophthalmic devices. These services encourage greater adoption of newer technologies, but more importantly, they help facilitate improved patient outcomes by optimizing the use of ophthalmic devices.

Major Players

Australia has a well-structured and developed healthcare system. Australia also promotes research and development for pharmaceutical devices and hence has a very high expenditure on healthcare. As a result of these policies, many companies are encouraged to operate in the region, which makes the market competitive. Some of the key players contributing most of the market share are Alcon Inc, Bausch Health Companies Inc, Johnson and Johnson, Carl Zeiss Meditec AG, & Ziemer Ophthalmic Systems AG.

 

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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