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Ophthalmic Devices Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis

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    Report

  • 195 Pages
  • June 2023
  • Region: Global
  • Renub Research
  • ID: 4912085
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.

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
Frequently Asked Questions about the Global Ophthalmic Devices Market

What is the estimated value of the Global Ophthalmic Devices Market?

The Global Ophthalmic Devices Market was estimated to be valued at $43.13 Billion in 2022.

What is the growth rate of the Global Ophthalmic Devices Market?

The growth rate of the Global Ophthalmic Devices Market is 5.9%, with an estimated value of $68.64 Billion by 2030.

What is the forecasted size of the Global Ophthalmic Devices Market?

The Global Ophthalmic Devices Market is estimated to be worth $68.64 Billion by 2030.

Who are the key companies in the Global Ophthalmic Devices Market?

Key companies in the Global Ophthalmic Devices Market include Johnson & Johnson, Topcon Corporation, Canon Inc., Alcon Inc., STAAR Surgical Co, Glaukos Corporation and IRIDEX Corporation.

Table of Contents

1. Introduction2. Research & Methodology3. Executive Summary
4. Market Dynamic
4.1 Growth Drivers
4.2 Challenges
5. Global Ophthalmic Device Market
6. Market Share - Global Ophthalmic Device Market
6.1 Diagnostic & Monitoring
6.2 Surgical
6.3 Vision Care
6.4 End Use
6.5 Country
7. Market Analysis - By Diagnostics & Monitoring Devices
7.1 Fundus Camera
7.2 Optical Coherence Tomography Scanner
7.3 Tonometer Market
7.4 Others
8. Market Analysis - Surgical Instruments Devices
8.1 Refractive Error Surgery Devices
8.2 Glaucoma Surgery Devices
8.3 Cataract Surgery Devices
8.4 Retinal Surgery Devices
9. Market Analysis - Vision Care Products
9.1 Contact Lenses Market
9.2 Others
10. By End Use - Global Ophthalmic Device Market
10.1 Hospitals
10.2 Specialty Clinics
10.3 Ambulatory Surgery Centers
10.4 Consumers
10.5 Others
11. By Country - Global Ophthalmic Device Market
11.1 Americas
11.1.1 United States
11.1.2 Canada
11.1.3 Mexico
11.1.4 Brazil
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 United Kingdom
11.2.4 Italy
11.2.5 Spain
11.2.6 Denmark
11.2.7 Sweden
11.2.8 Norway
11.3 Asia Pacific
11.3.1 Japan
11.3.2 China
11.3.3 Australia
11.3.4 Thailand
11.3.5 India
11.4 Middle East and Africa
11.4.1 Saudi Arabia
11.4.2 South Africa
11.4.3 UAE
11.5 Rest of the World
12. Porter’s Five Forces Analysis - Global Ophthalmic Device Market
12.1 Bargaining Power of Buyer
12.2 Bargaining Power of Supplier
12.3 Threat of New Entrants
12.4 Rivalry among Existing Competitors
12.5 Threat of Substitute Products
13. SWOT Analysis - Global Ophthalmic Device Market
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat
14. Company Analysis
14.1 Johnson & Johnson
14.1.1 Overview
14.1.2 Recent Development & Strategies
14.1.3 Financial Insights
14.2 Topcon Corporation
14.2.1 Overview
14.2.2 Recent Development & Strategies
14.2.3 Financial Insights
14.3 Canon Inc
14.3.1 Overview
14.3.2 Recent Development & Strategies
14.3.3 Financial Insights
14.4 Alcon ,Inc
14.4.1 Overview
14.4.2 Recent Development & Strategies
14.4.3 Financial Insights
14.5 STAAR Surgical Co.
14.5.1 Overview
14.5.2 Recent Development & Strategies
14.5.3 Financial Insights
14.6 GlaukosCorporation
14.6.1 Overview
14.6.2 Recent Development & Strategies
14.6.3 Financial Insights
14.7 IRIDEX Corporation
14.7.1 Overview
14.7.2 Recent Development & Strategies
14.7.3 Financial Insights
List of Figures
Figure 1: Global - Ophthalmic Device Market (Billion US$), 2018 - 2022
Figure 2: Global - Forecast for Ophthalmic Device Market (Billion US$), 2023 - 2030
Figure 3: Diagnostics & Monitoring - Fundus Camera Market (Billion US$), 2018 - 2022
Figure 4: Diagnostics & Monitoring - Forecast for Fundus Camera Market (Billion US$), 2023 - 2030
Figure 5: Diagnostics & Monitoring - Optical Coherence Tomography Scanner Market (Billion US$), 2018 - 2022
Figure 6: Diagnostics & Monitoring - Forecast for Optical Coherence Tomography Scanner Market (Billion US$), 2023 - 2030
Figure 7: Diagnostics & Monitoring - Tonometer Market (Billion US$), 2018 - 2022
Figure 8: Diagnostics & Monitoring - Forecast for Tonometer Market (Billion US$), 2023 - 2030
Figure 9: Diagnostics & Monitoring - Others Market (Billion US$), 2018 - 2022
Figure 10: Diagnostics & Monitoring - Forecast for Others Market (Billion US$), 2023 - 2030
Figure 11: Surgical Instruments - Refractive Error Surgery Devices Market (Billion US$), 2018 - 2022
Figure 12: Surgical Instruments - Forecast for Refractive Error Surgery Devices Market (Billion US$), 2023 - 2030
Figure 13: Surgical Instruments - Glaucoma Surgery Devices Market (Billion US$), 2018 - 2022
Figure 14: Surgical Instruments - Forecast for Glaucoma Surgery Devices Market (Billion US$), 2023 - 2030
Figure 15: Surgical Instruments - Cataract Surgery Devices Market (Billion US$), 2018 - 2022
Figure 16: Surgical Instruments - Forecast for Cataract Surgery Devices Market (Billion US$), 2023 - 2030
Figure 17: Surgical Instruments - Retinal Surgery Devices Market (Billion US$), 2018 - 2022
Figure 18: Surgical Instruments - Forecast for Retinal Surgery Devices Market (Billion US$), 2023 - 2030
Figure 19: Surgical Instruments - Contact Lenses Market (Billion US$), 2018 - 2022
Figure 20: Surgical Instruments - Forecast for Contact Lenses Market (Billion US$), 2023 - 2030
Figure 21: Surgical Instruments - Others Market (Billion US$), 2018 - 2022
Figure 22: Surgical Instruments - Forecast for Others Market (Billion US$), 2023 - 2030
Figure 23: Vision Care Products - Hospitals Market (Billion US$), 2018 - 2022
Figure 24: Vision Care Products - Forecast for Hospitals Market (Billion US$), 2023 - 2030
Figure 25: Vision Care Products - Specialty Clinics Market (Billion US$), 2018 - 2022
Figure 26: Vision Care Products - Forecast for Specialty Clinics Market (Billion US$), 2023 - 2030
Figure 27: Vision Care Products - Ambulatory Surgery Centers Market (Billion US$), 2018 - 2022
Figure 28: Vision Care Products - Forecast for Ambulatory Surgery Centers Market (Billion US$), 2023 - 2030
Figure 29: Vision Care Products - Consumers Market (Billion US$), 2018 - 2022
Figure 30: Vision Care Products - Forecast for Consumers Market (Billion US$), 2023 - 2030
Figure 31: Vision Care Products - Others Market (Billion US$), 2018 - 2022
Figure 32: Vision Care Products - Forecast for Others Market (Billion US$), 2023 - 2030
Figure 33: United States - Ophthalmic Device Market (Billion US$), 2018 - 2022
Figure 34: United States - Forecast for Ophthalmic Device Market (Billion US$), 2023 - 2030
Figure 35: Canada - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 36: Canada - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 37: Mexico - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 38: Mexico - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 39: Brazil - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 40: Brazil - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 41: Germany - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 42: Germany - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 43: France - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 44: France - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 45: United Kingdom - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 46: United Kingdom - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 47: Italy - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 48: Italy - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 49: Spain - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 50: Spain - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 51: Denmark - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 52: Denmark - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 53: Sweden - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 54: Sweden - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 55: Norway - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 56: Norway - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 57: Japan - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 58: Japan - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 59: China - Ophthalmic Device Market (Billion US$), 2023 - 2030
Figure 60: China - Forecast for Ophthalmic Device Market (Billion US$), 2018 - 2022
Figure 61: Australia - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 62: Australia - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 63: Thailand - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 64: Thailand - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 65: India - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 66: India - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 67: Saudi Arabia - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 68: Saudi Arabia - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 69: South Africa - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 70: South Africa - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 71: UAE - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 72: UAE - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 73: Rest of the World - Ophthalmic Device Market (Million US$), 2018 - 2022
Figure 74: Rest of the World - Forecast for Ophthalmic Device Market (Million US$), 2023 - 2030
Figure 75: Johnson & Johnson - Global Revenue Market (Billion US$), 2023 - 2030
Figure 76: Johnson & Johnson - Forecast for Global Revenue Market (Billion US$), 2018 - 2022
Figure 77: Topcon Corporation - Global Revenue Market (Million US$), 2018 - 2022
Figure 78: Topcon Corporation - Forecast for Global Revenue Market (Million US$), 2023 - 2030
Figure 79: Canon Inc - Global Revenue Market (Billion US$), 2023 - 2030
Figure 80: Canon Inc - Forecast for Global Revenue Market (Billion US$), 2018 - 2022
Figure 81: Alcon ,Inc - Global Revenue Market (Billion US$), 2023 - 2030
Figure 82: Alcon ,Inc - Forecast for Global Revenue Market (Billion US$), 2018 - 2022
Figure 83: STAAR Surgical Co. - Global Revenue Market (Million US$), 2018 - 2022
Figure 84: STAAR Surgical Co. - Forecast for Global Revenue Market (Million US$), 2023 - 2030
Figure 85: GlaukosCorporation - Global Revenue Market (Million US$), 2018 - 2022
Figure 86: GlaukosCorporation - Forecast for Global Revenue Market (Million US$), 2023 - 2030
Figure 87: IRIDEX Corporation - Global Revenue Market (Million US$), 2018 - 2022
Figure 88: IRIDEX Corporation - Forecast for Global Revenue Market (Million US$), 2023 - 2030
List of Tables
Table 1: Global - Ophthalmic Device Market Share by Diagnostics & Monitoring Devices (Percent), 2018 - 2022
Table 2: Global - Forecast for Ophthalmic Device Market Share by Diagnostics & Monitoring Devices (Percent), 2023 - 2030
Table 3: Global - Ophthalmic Device Market Share by Surgical Instruments Devices (Percent), 2018 - 2022
Table 4: Global - Forecast for Ophthalmic Device Market Share by Surgical Instruments Devices (Percent), 2023 - 2030
Table 5: Global - Ophthalmic Device Market Share by Vision Care Products (Percent), 2018 - 2022
Table 6: Global - Forecast for Ophthalmic Device Market Share by Vision Care Products (Percent), 2023 - 2030
Table 7: Global - Ophthalmic Device Market Share by End Use (Percent), 2018 - 2022
Table 8: Global - Forecast for Ophthalmic Device Market Share by End Use (Percent), 2023 - 2030
Table 9: Global - Ophthalmic Device Market Share by Country (Percent), 2018 - 2022
Table 10: Global - Forecast for Ophthalmic Device Market Share by Country (Percent), 2023 - 2030

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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