The global ophthalmic devices market size reached US$ 27.6 Billion in 2023. Looking forward, the market is projected to reach US$ 38.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.77% during 2023-2032.
Ophthalmic devices are medical equipment used for surgical diagnosis and vision correction. They comprise contact lenses, contact lens care products, diagnostics, implants, intraocular lenses (IOLs), lasers, phacoemulsification systems, artificial tears, and surgical instruments. They are used to diagnose and cure ocular abnormalities or deficits, and other eye diseases. They aid in making the eye-treatment procedure more convenient for patients and ophthalmologists by reducing treatment time and providing high-quality eye care. At present, due to the rising prevalence of ophthalmic diseases, such as cataracts and glaucoma, there is an increase in the demand for ophthalmic devices across the globe.
This, coupled with the rising awareness about ophthalmic devices among individuals, is offering lucrative growth opportunities to industry investors. Additionally, there is an increase in the employment of micro-invasive glaucoma (MIGs) surgical implants for the treatment of mild to moderate glaucoma. In line with this, governments of several countries are undertaking initiatives to promote eye health, which is bolstering the market growth.
2. What is the expected growth rate of the global ophthalmic devices market during 2024-2032?
3. What are the key factors driving the global ophthalmic devices market?
4. What has been the impact of COVID-19 on the global ophthalmic devices market?
5. What is the breakup of the global ophthalmic devices market based on the product type?
6. What is the breakup of the global ophthalmic devices market based on the end use?
7. What are the key regions in the global ophthalmic devices market?
8. Who are the key players/companies in the global ophthalmic devices market?
Ophthalmic devices are medical equipment used for surgical diagnosis and vision correction. They comprise contact lenses, contact lens care products, diagnostics, implants, intraocular lenses (IOLs), lasers, phacoemulsification systems, artificial tears, and surgical instruments. They are used to diagnose and cure ocular abnormalities or deficits, and other eye diseases. They aid in making the eye-treatment procedure more convenient for patients and ophthalmologists by reducing treatment time and providing high-quality eye care. At present, due to the rising prevalence of ophthalmic diseases, such as cataracts and glaucoma, there is an increase in the demand for ophthalmic devices across the globe.
Ophthalmic Devices Market Trends
The growing reliance on digital devices, such as laptops, smartphones, computers and e-readers, represents one of the key factors driving the 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. In addition, the growing customer training and education among eye care professionals to cure eye diseases and associated complications is positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities for the development of novel devices to treat vision errors.This, coupled with the rising awareness about ophthalmic devices among individuals, is offering lucrative growth opportunities to industry investors. Additionally, there is an increase in the employment of micro-invasive glaucoma (MIGs) surgical implants for the treatment of mild to moderate glaucoma. In line with this, governments of several countries are undertaking initiatives to promote eye health, which is bolstering the market growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global ophthalmic devices market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on product type, application and end use.Breakup by Product Type:
- Surgical
- Implants
- Consumables
- Equipment
- Vision Care
- Contact Lens
- Ocular Health
Breakup by Application:
- Cataract
- Vitreo Retinal Disorders
- Glaucoma
- Refractor Disorders
Breakup by End Use:
- Hospitals and Eye Clinics
- Academic and Research Laboratory
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bausch & Lomb Incorporated (Bausch Health Companies Inc.), Carl Zeiss Meditec AG, EssilorLuxottica SA, Haag-Streit Group, HOYA Surgical Optics GmbH (Hoya Corporation), Leica Microsystems GmbH (Danaher Corporation), Nidek Co Ltd., Topcon Corporation, Volk Optical Inc. and Ziemer Ophthalmic Systems AG.Key Questions Answered in This Report
1. What was the size of the global ophthalmic devices market in 2023?2. What is the expected growth rate of the global ophthalmic devices market during 2024-2032?
3. What are the key factors driving the global ophthalmic devices market?
4. What has been the impact of COVID-19 on the global ophthalmic devices market?
5. What is the breakup of the global ophthalmic devices market based on the product type?
6. What is the breakup of the global ophthalmic devices market based on the end use?
7. What are the key regions in the global ophthalmic devices market?
8. Who are the key players/companies in the global ophthalmic devices market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Ophthalmic Devices Market
6 Market Breakup by Product Type
7 Market Breakup by Application
8 Market Breakup by End Use
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Bausch & Lomb Incorporated (Bausch Health Companies Inc.)
- Carl Zeiss Meditec AG
- EssilorLuxottica SA
- Haag-Streit Group
- HOYA Surgical Optics GmbH (Hoya Corporation)
- Leica Microsystems GmbH (Danaher Corporation)
- Nidek Co Ltd.
- Topcon Corporation
- Volk Optical Inc.
- Ziemer Ophthalmic Systems AG
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 135 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 27.6 Billion |
| Forecasted Market Value ( USD | $ 38.5 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
