The Ophthalmic Retractors Market to Witness a Digitized Overhaul

Development of efficient, high quality and cost effective equipment for the ophthalmic surgery will increase the demand of ophthalmic retractors further spur the market of ophthalmic retractors. Development of new equipment which are disposable and require no sterilization resulting to low maintenance cost and reduces infection associated with the post operation further trigger the growth of ophthalmic retractors market.

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Growing number of ophthalmologist and physicians and growing adoption of new and technologically advanced equipment spur the ophthalmic retractors market. Increasing geriatric population which further increase the prevalence of eye disease leading to rising number of eye surgeries increase the demand of ophthalmic instruments which drive the ophthalmic retractors market.

Rising private health insurance coverage, which reduces the out-of-pocket costs for individuals, thereby increasing demand for vision care further spur the ophthalmic retractors market.

Growing clinical research, government funding, collaboration among the players, focus on development of new innovation spur the ophthalmic retractors market. However, factor such as high cost and maintenance of ophthalmic retractors coupled with lack of awareness and affordability of ophthalmic instruments in developing countries will hinder the ophthalmic retractors market.

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Market Segmentation

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According to American Academy of Ophthalmology, Cataracts affect approximately 24.4 million people in United States with age 40 and above and 48,229 corneal transplants performed in the United States in 2013.

Europe is expected to account for the second largest share in the global ophthalmic retractors market owing to increasing prevalence of cataract and increasing cataract surgery coupled with increased adoption of novel tool and equipment.

Asia Pacific is expected to show significant growth, due to increased number of patients receiving treatment, advance in medical infrastructure, and increase in the penetration of health insurance will play a significant role in driving the market.

Growing adoption of new technology and booming medical tourism is expected to fuel the Asia Pacific Ophthalmic Retractors market in the near future. China is expected to register rapid growth, due rapid economic development and rising aging population. Latin America and Middle East & Africa are projected to exhibit slow growth in Ophthalmic Retractors market, owing to lack of healthcare insurance in and poor infrastructure.