Europe Ophthalmology Devices Market Forecast to 2031 - Regional Analysis - by Product, Application, and End User

The Europe ophthalmology devices market was valued at US$ 9.77 billion in 2023 and is expected to reach US$ 16.57 billion by 2031; it is estimated to register at a CAGR of 6.8% from 2023 to 2031.

Technological Advancements in Ophthalmic Devices Drive Europe Ophthalmology Devices Market

Technological innovation has always been fundamental to any discipline of life sciences, including ophthalmology, as modern devices are key to accurate diagnosis and improved treatments. Advancements in medications, diagnostic devices, laser systems, and surgical techniques have enabled the improved diagnosis of glaucoma, cataracts and macular degeneration, and dry eye disease. Virtual reality, 3D imaging, and big data and artificial intelligence (AI) are being used for data analysis in ophthalmology. These tools have made it possible to gain accurate and reliable results.

Tools such as AI are being used in the screening of diabetic retinopathy, detection of lesions, and monitoring of the progress of certain diseases such as age-related macular degeneration or macular edema. However, these tools are still under development as they are being evaluated for their suitability in diagnostic and prognostic applications in ocular pathologies. Minimally invasive surgeries such as LASIK (i.e., laser-assisted in situ keratomileusis) surgery, femtosecond laser surgery, multi-wavelength diabetic retinopathy treatment, and ultrasound phacoemulsification are likely to increase the demand for ophthalmology devices, in turn, propelling the overall market growth.

Europe Ophthalmology Devices Market Overview

The Europe ophthalmology devices market is categorized into Germany, France, the UK, Spain, Italy, and the Rest of Europe. Countries such as Germany and Italy are expected to account for a significant share of the market in the region, and countries such as France, the UK, and Spain are likely to experience opportunities for the ophthalmology devices market growth during the forecast period. The Europe ophthalmology devices market is expected to grow in the coming years with the rising cases of eye diseases and the increasing adoption of varied techniques in diagnostics and treatments for those eye diseases.

As per the Federal Statistical Office (Destatis), 16.2 million people in Germany were age 67 and above by the end of 2021, and the figure is projected to reach 21.6 million by 2060. Furthermore, eyesight problems are more common among older adults. The incidence of eye-related diseases is increasing with the rise in the aging population in Germany, which boosts the demand for ophthalmology devices. Thus, the significant prevalence of eye diseases across Germany propels the ophthalmology devices market growth.

Europe Ophthalmology Devices Market Revenue and Forecast to 2031 (US$ Million)

Europe Ophthalmology Devices Market Segmentation

The Europe ophthalmology devices market is segmented based on product, application, end user, and country.

Based on product, the North America ophthalmology devices market is segmented into vision care products, surgical devices, and diagnostics and monitoring devices. The vision care products segment held the largest share in 2023.

In terms of application, the North America ophthalmology devices market is segmented into cataract, glaucoma, refractory disorders, vitreoretinal disorders, and other applications. The glaucoma segment held the largest share in 2023.

By end user, the North America ophthalmology devices market is segmented into hospital and eye clinics, academic and research laboratories, and other end users. The hospital and eye clinics segment held the largest share in 2023.

Based on country, the Europe ophthalmology devices market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany dominated the Europe ophthalmology devices market in 2023.

Key players operating in the Europe ophthalmology devices market are Johnson & Johnson Vision Care Inc, Alcon AG, Carl Zeiss Meditec, Bausch & Lomb Inc, Essilor Intonational SAS, Nidek Co Ltd, Topcon Corp, Haag-Streit AG, Ziemer Ophthalmic Systems AG, and Hoya Corp are some of the leading companies operating in the Europe ophthalmology devices market.