The global ophthalmic devices market is predicted to reach US$ 75.2 Billion by 2030. The ophthalmic devices are designed for diagnostics, surgical, and vision correction purposes. These devices have gained increased importance and adoption due to the high prevalence of various ophthalmic diseases such as glaucoma, refractive error, cataract, and other vision related issues. The growing usage of electronic devices, such as laptops, smartphones, computers and e-readers, represents one of the prime factors driving the market. According to the World Health Organization (WHO): Globally, at least 2.2 billion people have a vision impairment or blindness, of whom at least 1 billion have a vision impairment that could have been prevented or has yet to be addressed. Therefore, increasing number of eye related disorders propel demand for vision care devices, which in turn propels growth of the ophthalmic devices market. Moreover, there is a rise in the utilization of intraocular lenses (IOLs) to replace the natural lens of eyes for restoring both near and distant vision. This, along with the expanding healthcare industry, is propelling the growth of the market. However, the elements such as the high cost of ophthalmic devices and dearth of skilled professionals with expertise in ophthalmic surgery are projected to hamper the growth of the market.
Recent Developments
- In June 2023, Bausch + Lomb Corporation announced the U.S. launch of Bausch + Lomb INFUSE Multifocal silicone hydrogel (SiHy) daily disposable contact lenses.
- In April 2023, ZEISS Medical Technology announced that the U.S. FDA has approved the CT LUCIA 621P Monofocal IOL, an aspheric, monofocal, single-piece C-loop IOL.
- In January 2023, Alcon announced plans to launch TOTAL30 for Astigmatism, the first-and-only reusable contact lens with Water Gradient material for astigmatic contact lens wearers.
- In October 2022, Topcon Healthcare announced the launch of the NW500, the company’s fully-automatic, non-mydriatic retinal camera that helps deliver reliable, accurate, and sharp-quality imaging with enhanced capability.
By Application: Global Ophthalmic Devices Market and Forecast - Key Takeaways
- On the basis of application, the vision care segment dominated the overall ophthalmic devices market.
- Surgical instruments devices held second highest share of the overall ophthalmic devices market in 2022.
- The diagnostic & monitoring devices segment is expected to grow at the fastest rate over the forecast period.
By Products: Global Ophthalmic Devices Market and Forecast - Key Takeaways
- On product basis, contact lens held largest share of the ophthalmic devices market in 2022, while cataract surgery devices accounted for second highest share of the total ophthalmic devices market.
- Retinal surgery devices is the third largest product segment of the ophthalmic devices market in 2022.
- The optical coherence tomography (OCT) has become the standard of care for the assessment and treatment of most retinal diseases. The global OCT scanner market is predicted to reach US$ 2.1 Billion by 2030.
- Glaucoma surgery is currently evolving with introduction of several new devices and those in pipeline have continued to address the focus on safety of glaucoma surgery.
By End Users: Global Ophthalmic Devices Market and Forecast - Key Takeaways
- Consumers segment accounted for highest share of the global ophthalmic devices market, as majority of the ophthalmic products such as vision care products are used by the common consumers.
- Hospitals and ophthalmic clinics & centers accounted for second and third highest share of the overall ophthalmic devices market respectively in 2022.
- Ambulatory surgical centers are likely to grow at the fastest rate over the forecast period, as these centers provide cost-effective services and a convenient environment that is less stressful than what many hospitals can offer.
By Region: Ophthalmic Devices Market and Forecast - Key Takeaways
- North America dominated the ophthalmic devices market in 2022, owing to increased utilization of ophthalmic devices in hospitals and private clinics.
- In North America, United States captured highest share of the total ophthalmic devices market.
- Europe represents a major market for ophthalmic devices, owing to rising chronic eye diseases among geriatric population.
- In Europe, Germany, United Kingdom, and France are the major market for ophthalmic devices.
- Asia Pacific is anticipated to grow at the fastest rate over the forecast period due to the presence of untapped opportunities in the emerging economies such as China and India.
- Japan dominated the ophthalmic devices market in Asia Pacific region, while China accounted for around 4% share of the global ophthalmic devices market in 2022.
The report titled “Global Ophthalmic Devices Market (By Application, Products, End Users, Regions), Major Deals, Trends, Key Company Profiles, Sales Analysis, Recent Developments - Forecast to 2030” provides a comprehensive analysis of the Global Ophthalmic Devices Market.
This 361 Page report with 122 Figures and 11 Tables has been analyzed from 12 View Points:
1) Global Ophthalmic Devices Market and Forecast (2012 - 2030)
2) Global Ophthalmic Devices Market Share and Forecast (2012 - 2030)
3) By Application Segment - Global Ophthalmic Devices Market and Forecast (2012 - 2030)
4) Global Ophthalmic Diagnostics & Monitoring Devices Market and Forecast (2012 - 2030)
5) Global Ophthalmic Surgical Instruments Devices Market and Forecast (2012 - 2030)
6) Global Ophthalmic Vision Care Products Market and Forecast (2012 - 2030)
7) By End Users - Global Ophthalmic Devices Market and Forecast (2012 - 2030)
8) By Region - Ophthalmic Devices Market and Forecast (2012 - 2030)
9) Country Analysis - Ophthalmic Devices Market and Forecast (2012 - 2030)
10) Global Ophthalmic Devices Market - Recent Developments
11) Global Ophthalmic Devices Market - Key Company Profiles and Sales Analysis (2012 - 2030)
12) Global Ophthalmic Devices Market - Growth Drivers & Challenges
Global Ophthalmic Devices Market - By Application Segments
1. Diagnostics & Monitoring Devices
- Fundus Camera
- Optical Coherence Tomography Scanner
- Tonometer
- Others
2. Surgical Instruments Devices
- Refractive Error Surgery Devices
- Glaucoma Surgery Devices
- Cataract Surgery Devices
- Retinal Surgery Devices
3. Vision Care
- Contact Lens
- Others
Global Ophthalmic Devices Market - By End Users
1. Hospitals
2. Ophthalmic Clinics and Centers
3. Ambulatory Surgical Centers
4. Consumers
5. Others
Global Ophthalmic Devices Market - Regional Analysis
1. North America
- United States
- Canada
2. Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Rest of Europe
3. Asia Pacific
- Japan
- China
- India
- South Korea
- Thailand
- Australia
- Rest of Asia Pacific
4. Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
5. Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East and Africa
Global Ophthalmic Devices Market - Company Profiles, Sales Analysis, Strategy, Major Deals, Recent Development
1. Alcon, Inc.
2. Carl Zeiss Meditec AG
3. Topcon Corporation
4. Bausch Health Companies Inc. (Formerly Valeant Pharmaceuticals International, Inc.)
5. Iridex Corporation
6. Ellex Medical Lasers (Acquired by Quantel Medical)
7. Escalon Medical
8. Second Sight Medical Products Inc. (Now Vivani Medical, Inc.)
9. Lumenis
10. Nidek Co., Ltd.
11. Glaukos Corporation
12. Johnson & Johnson
13. STAAR Surgical Company
Data Source
The analayst employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by the analyst's dedicated team of qualified professionals with deep industry experience and expertise.
Research Methodologies
- Primary Research Methodologies: Questionnaires, Surveys, Interviews with Individuals, Small Groups, Telephonic Interview, etc.
- Secondary Research Methodologies: Printable and Non-printable sources, Newspaper, Magazine and Journal Content, Government and NGO Statistics, white Papers, Information on the Web, Information from Agencies Such as Industry Bodies, Companies Annual Report, Government Agencies, Libraries and Local Councils and a large number of Paid Databases.
Table of Contents
1. Executive Summary2. Global Ophthalmic Devices Market and Forecast (2012 - 2030)
Companies Mentioned
- Alcon, Inc.
- Carl Zeiss Meditec AG
- Topcon Corporation
- Bausch Health Companies Inc. (Formerly Valeant Pharmaceuticals International, Inc.)
- Iridex Corporation
- Ellex Medical Lasers (Acquired by Quantel Medical)
- Escalon Medical
- Second Sight Medical Products Inc. (Now Vivani Medical, Inc.)
- Lumenis
- Nidek Co., Ltd.
- Glaukos Corporation
- Johnson & Johnson
- STAAR Surgical Company
