The Global Ophthalmic Devices Market is expected to reach US$ 68.64 Billion in 2030, according to the report. Ophthalmology, a branch of medical science specializing in the study and treatment of eye diseases, heavily relies on ophthalmic devices for various purposes such as diagnosis, surgical procedures, and vision correction. With the prevalence of conditions like glaucoma, cataracts, and other vision-related issues on the rise, the importance and adoption of these devices have grown significantly. The increasing global incidence of vision disorders have led to a surging demand for high-quality eye care services.
The field of ophthalmic devices is witnessing notable advancements, particularly in technologies like intraocular lenses, which enhance vision correction and contribute to improved outcomes in eye surgeries. This, coupled with the escalating number of eye surgeries performed worldwide, is expected to propel the market for ophthalmic devices in the years ahead.
A large population suffering from eye disorders, along with a growing aging population, drives the demand for ophthalmic devices in the United States. The presence of leading ophthalmic device manufacturers, research institutions, and strong regulatory frameworks further solidify the country's market share. As the United States continues to focus on advanced eye care solutions and invest in innovative technologies, it is poised to maintain its prominent position in the global ophthalmic devices industry.
The field of ophthalmic devices is witnessing notable advancements, particularly in technologies like intraocular lenses, which enhance vision correction and contribute to improved outcomes in eye surgeries. This, coupled with the escalating number of eye surgeries performed worldwide, is expected to propel the market for ophthalmic devices in the years ahead.
This report forecasts a 5.98% CAGR for the global ophthalmic devices industry from 2022 to 2030
The prevalence of eye diseases is further amplified by lifestyle changes, reinforcing the need for surgical and vision care devices. Factors like higher per capita income, disposable income, favourable reimbursement policies, and the availability of easily accessible ophthalmic procedures have all contributed to an increase in surgical interventions and subsequently fuelled the demand for ophthalmic devices in the market. As the global population continues to face the challenges posed by eye disorders, the ophthalmic devices industry strives to meet the growing demand for innovative solutions in surgical and vision care, thereby playing a crucial role in ensuring improved eye health and enhanced quality of life for individuals worldwide. Global Ophthalmic Devices Market was Valued at US$ 43.13 Billion in 2022.Continuous advancements in OCT technology, the market share of OCT scanners is expected to remain dominant in the global ophthalmic devices market
By Diagnostic & Monitoring, Global Ophthalmic Devices Market is segmented into Fundus Camera, Optical Coherence Tomography Scanner, Tonometer and Others. The Optical Coherence Tomography (OCT) scanner has emerged as a frontrunner in the global ophthalmic devices industry, commanding the highest market share. This advanced imaging technology enables detailed cross-sectional visualization of the eye, facilitating accurate diagnosis and monitoring of various eye conditions. Its non-invasive nature, high resolution, and ability to capture real-time images have made it a preferred choice among ophthalmologists worldwide. The OCT scanner's versatility and applications across multiple ophthalmic subspecialties, including glaucoma, macular degeneration, and diabetic retinopathy, have contributed to its dominant market position. With ongoing advancements and continuous improvements, the OCT scanner is poised to maintain its leadership in the global ophthalmic devices market.As the global population continues to age, the demand for these devices is expected to remain high in the global ophthalmic devices market
By Surgical, Global Ophthalmic Devices Market is divided into Refractive Error Surgery Devices, Glaucoma Surgery Devices, Cataract Surgery Devices and Retinal Surgery Devices. Cataract surgery devices hold the highest market share in the global ophthalmic devices market. Cataracts, a common age-related condition, affect the lens of the eye, leading to impaired vision. The demand for cataract surgery devices is fuelled by the increasing number of cataract cases worldwide. These devices, including phacoemulsification systems, intraocular lenses, and viscoelastic substances, are essential for safe and effective cataract removal and lens replacement. Technological advancements have resulted in improved surgical techniques and enhanced outcomes, driving the market for cataract surgery devices. As the aging population continues to grow and the need for vision restoration persists, the market for cataract surgery devices is expected to maintain its prominence in the global ophthalmic devices market.Contact lenses are experiencing rapid growth and are considered the fastest-growing segment in the global ophthalmic devices market
By Vision Care, the Global Ophthalmic Devices Market is sub-segmented Contact Lenses and Others. Contact lenses are experiencing rapid growth and emerge as the fastest-growing segment in the global ophthalmic devices industry. With their convenience, comfort, and ability to correct various vision impairments, contact lenses have gained immense popularity among individuals seeking an alternative to traditional eyeglasses. Advancements in lens materials, such as silicone hydrogel, have improved breathability and prolonged wearing comfort, driving the increased adoption of contact lenses. The growing prevalence of myopia and astigmatism, particularly among younger populations, has fuelled the demand for contact lenses as a vision correction option. As the industry continues to innovate with features like multimodality and colour enhancement, contact lenses are expected to maintain their rapid growth trajectory in the global ophthalmic devices market.As consumers continue to prioritize their visual health, they will continue to shape the global ophthalmic devices market through their preferences and demands
By End Use, global ophthalmic devices market is divided into Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Consumers and Others. Consumers hold the highest market share in the global ophthalmic devices industry. As the end-users and beneficiaries of these devices, consumers play a crucial role in driving the market. The demand for ophthalmic devices is directly influenced by consumer needs, preferences, and the prevalence of eye conditions. Factors such as an aging population, lifestyle changes, and increasing awareness about eye health contribute to the growing market share of consumers. Advancements in technology, such as more comfortable and aesthetically appealing devices, have further fuelled consumer adoption.United States is projected to have the highest market share in the global ophthalmic devices market in the upcoming years.
By Country, global ophthalmic devices market is breakup into United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Denmark, Sweden, Norway, Japan, China, Australia, Thailand, India, Brazil, Saudi Arabia, South Africa, UAE and Rest of the World. The United States is expected to hold the highest market share in the global ophthalmic devices market in the upcoming years. The country's robust healthcare infrastructure, technological advancements, and high healthcare expenditure contributed to its dominant position in the market.A large population suffering from eye disorders, along with a growing aging population, drives the demand for ophthalmic devices in the United States. The presence of leading ophthalmic device manufacturers, research institutions, and strong regulatory frameworks further solidify the country's market share. As the United States continues to focus on advanced eye care solutions and invest in innovative technologies, it is poised to maintain its prominent position in the global ophthalmic devices industry.
Key Players
Johnson & Johnson, Topcon Corporation, Canon INC, Alcon Inc, STAAR Surgical Co, Glaukos Corporation and IRIDEX Corporation are the key company in the global ophthalmic devices market.Report Scope
This report provides a detailed analysis of the Ophthalmic Device Market.Diagnostics & Monitoring Devices - Market has been covered from 4viewpoints:
- Fundus Camera
- Optical Coherence Tomography Scanner
- Tonometer
- Others
Surgical Instruments Devices - Market has been covered from 4 viewpoints:
- Refractive Error Surgery Devices
- Glaucoma Surgery Devices
- Cataract Surgery Devices
- Retinal Surgery Devices
Vision Care Products - Market has been covered from 2 viewpoints:
- Contact Lenses Market
- Others
End Use - Market has been covered from 5 viewpoints:
- Hospitals
- Specialty Clinics
- Ambulatory Surgery Centers
- Consumers
- Others
Country - Market has been covered from 21 viewpoints:
- United States
- Canada
- Mexico
- Germany
- France
- United Kingdom
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Japan
- China
- Australia
- Thailand
- India
- Brazil
- Saudi Arabia
- South Africa
- UAE
- Rest of the World
Company Insights:
- Overview
- Recent Development & Strategies
- Financial Insights
Company Analysis:
- Johnson & Johnson
- Topcon Corporation
- Canon INC
- Alcon Inc
- STAAR Surgical Co
- Glaukos Corporation
- IRIDEX Corporation
Table of Contents
1. Introduction2. Research & Methodology3. Executive Summary5. Global Ophthalmic Device Market
4. Market Dynamic
6. Market Share - Global Ophthalmic Device Market
7. Market Analysis - By Diagnostics & Monitoring Devices
8. Market Analysis - Surgical Instruments Devices
9. Market Analysis - Vision Care Products
10. By End Use - Global Ophthalmic Device Market
11. By Country - Global Ophthalmic Device Market
12. Porter’s Five Forces Analysis - Global Ophthalmic Device Market
13. SWOT Analysis - Global Ophthalmic Device Market
14. Company Analysis
List of Figures
List of Tables
Companies Mentioned
- Johnson & Johnson
- Topcon Corporation
- Canon Inc.
- Alcon Inc.
- STAAR Surgical Co
- Glaukos Corporation
- IRIDEX Corporation
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 195 |
| Published | June 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 43.13 Billion |
| Forecasted Market Value ( USD | $ 68.64 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
