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

The North America ophthalmology devices market was valued at US$ 17.22 billion in 2023 and is expected to reach US$ 32.95 billion by 2031; it is estimated to register at a CAGR of 8.5% from 2023 to 2031.

Growing Focus on Telemedicine for Eye Care Services Fuels North America Ophthalmology Devices Market

With technological advancements in image capturing and data transmission, ophthalmology is strongly embracing telehealth integration. The adoption of technology in delivering remote eye care, known as teleophthalmology, has evolved rapidly with the rapid usage of smartphones and 5th generation (G) wireless communications. Teleophthalmology can be used both asynchronously (store-and-forward) and synchronously (real-time) in the diagnosis, screening, monitoring, and treatment of eye diseases such as age-related macular degeneration, diabetic retinopathy, glaucoma, neuro-ophthalmic disorders, and pediatric ocular diseases, including the retinopathy of prematurity.

Moreover, the integration of telehealth in ophthalmology presents strong potential to improve access to screening procedures and treatments. Remote patient monitoring, enabled by this approach, enhances the overall quality of eye care services. Telemedicine and teleophthalmology are already in place since many years, but the practices gained significant importance during the COVID-19 pandemic. Hence, the adoption of teleophthalmology, in both developed and developing countries is expected to bring significant growth trends in the ophthalmology devices market in the coming years.

North America Ophthalmology Devices Market Overview

The North America Ophthalmology Devices market was valued at US$ 17.22 billion in 2023 and is projected to reach US$ 32.95 billion by 2031; it is expected to register a CAGR of 8.4% during 2023-2031. The ophthalmology devices market growth in North America is attributed to the rising aging population and the increasing prevalence of eye diseases.

As per the Population Reference Bureau 2019, the number of individuals in the US aged 65 and older is estimated to double from 52 million (16% of the total population) in 2018 to nearly 95 million (23% of the total population) by 2060. As per the American Academy of Ophthalmology's 2019 study, an estimated 7.32 million people aged 70-75 would be affected by primary open-angle glaucoma (POAG) in the US by 2050.

Eye conditions such as vision impairment and poor vision are the prominent causes of a surging number of eye surgeries in the US. According to the 2023 investors' presentation of Starsurgical, nearly 3000,000 refractive procedures are performed in the US every year. Companies in the ophthalmology devices market are adopting various organic and inorganic growth strategies; a few of the recent instances are mentioned below.

In September 2023, OCULUS, Inc. partnered with LUVO to introduce two new patient treatment devices-the DARWIN and LUCENT-in the US optometry and ophthalmology market. The LUCENT IPL, and DARWIN IPL and RF devices are intended to offer eye care practitioners effective and comfortable treatment modalities that can target the root causes of patient symptoms.

Furthermore, according to the Statistics Canada estimates, seniors are expected to comprise ~23-25% of the Canadian population by 2036 and ~24-28% of the population by 2061. The rising geriatric population is expected to propel the adoption of ophthalmology devices as the aging population is highly prone to eye diseases.

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

North America Ophthalmology Devices Market Segmentation

The North America 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 North America ophthalmology devices market is categorized into US, Canada, and Mexico. The US dominated the North America ophthalmology devices market in 2023.

Key players operating in the North America 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 North America ophthalmology devices market.