Ophthalmic Devices Market COVID-19 Impact 2020 Industry Forecast Report

    Abhijeet Bendre

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    Report segments information on Global Ophthalmic Devices Market By Surgical (Implants, Consumables, and Equipment) and Vision Care (Contact Lenses and Ocular Health) By End User (Hospitals, Ophthalmic Clinics and Others) Regional Forecast, 2020-2027.

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    Global Ophthalmic Devices Key Companies Studied In Report are:

    • Alcon (Geneva, Switzerland)
    • Carl Zeiss Meditec (Oberkochen, Germany)
    • Johnson & Johnson Vision Care, Inc.  (Jacksonville, U.S.)
    • The Cooper Companies Inc.  (California, U.S.)
    • BVI (Waltham, U.S.)
    • Bausch & Lomb Incorporated (Rochester, U.S.)
    • Essilor (California, U.S.)
    • Hoya Corporation (Tokyo, Japan)
    • NIDEK CO., LTD (Gamagori, Japan)

    An Overview of the Impact of COVID-19 on Ophthalmic Devices Market:

    We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future. The coronavirus incident has caused major damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain.

    Global Ophthalmic Devices Market Analysis 2020:

    The global ophthalmic devices market size is expected to gain momentum by reaching USD 32.36 billion by 2027 owing to the increasing prevalence of eye disease such as cataract and myopia that is propelling the demand for advanced ophthalmic devices across the globe.

    The global Ophthalmic Devices market is projected to witness rapid growth in the coming years driven by the massive investments in product RandD. The recent coronavirus outbreak has brought major businesses to a standstill. Due to travel bans, companies in this sector are likely to take a huge hit in the coming years. Ultimately, the rapid spread of the disease has urged governments to take strict measures. The report includes the impact on Covid-19 pandemic on the global Ophthalmic Devices market and discusses how major companies are coping with this.

    The report mentions that the market stood at USD 25.04 billion in 2019 and is expected to exhibit a CAGR of 4.2% between 2020 and 2027. The growing incidence of eye disorders such as cataract and myopia is driving the demand for the introduction of advanced devices across the globe. According to the World Health Organization (WHO), myopia is the most common ocular disorder that affects 1.89 billion people, and it is estimated that over 2.56 billion will suffer from this disorder by 2020 across the globe.

    Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the growth of the market between 2020 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

    The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

    The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market. Furthermore, the report offers a detailed analysis and information as per Ophthalmic Devices Market Analysis by manufacturers, market segments helping our readers to get a comprehensive overview of the global market. Several players are planning to focus on developing cost-effective products or services, aiming to maintain a strong foothold in the market.

    Ophthalmic Devices Market Regional Insights:

    North America is expected to dominate and hold the highest position in the global market in the forthcoming years. This is attributable to the presence of established companies that are focusing on developing innovative devices in countries such as the U.S. The market stood at USD 10.54 billion in 2019.

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