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Global Ophthalmic Devices Market, By Product, Vision Care, Surgical Devices, Diagnostic & Monitoring Devices - Estimation & Forecast till 2027

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  • 376 Pages
  • August 2021
  • Region: Global
  • Astute Analytica
  • ID: 5438460

Global Ophthalmic Devices Market is Expected to Grow at a CAGR of 6.5% During the Forecast Year Till 2027

The global ophthalmic devices market valued at market size of USD 38,120.4 Million in 2020 and is expected to reach USD 57,571.4 Million by 2027. The global ophthalmic devices market is anticipated to grow at a CAGR of 6.5% over the forecast period.

Ophthalmology is a branch of medical field that studies the structure, function, and eyes related diseases. Ophthalmic devices are medical devices used for vision correction, surgery, and diagnosis. Due to the rising cases of various ophthalmic disorders such as glaucoma, cataracts, and other vision-related issues, these devices have gained popularity in the recent years.

Ophthalmic devices market is a highly fragmented, with the presence of international and local players across various regions. This results in increased competition in the market. Market players are continuously focusing on development of technologically advanced ophthalmic devices, to ensure early detection of eye-diseases.

Growth Influencers

Growing prevalence of eye related issues and disorders

The need for eye care is anticipated to increase dramatically in the coming decades across the globe, posing a considerable challenge to health systems. Continuous increase in the number of eye related issues and loss of eyesight has become a global concern. The rising cases of chronic diseases like diabetes and hypertension has aided in the spread of eye problems. As per 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. Tens of millions have a severe vision impairment and could benefit from rehabilitation which they are not currently receiving. Due to this, governments of various countries are taking necessary steps to improve the eye facilities, which in turn is expected to drive the demand for ophthalmic devices at a huge pace, in the forthcoming years.

Increased adoption of advanced technologies is anticipated to promote the market growth

Remarkable advancements have been made in the technology being used by ophthalmologists across all the globe. These technological advancements are improving the outcomes through simplification of treatment procedures for eye illness for curing incurable disorders. Huge investments are also being made to develop more advanced technologies and devices which is expected to boost the demand for ophthalmic devices in the forthcoming years.

High cost of ophthalmic devices is restraining the market growth

High cost of ophthalmic devices is one of the most crucial factors, restraining the market growth. Whereas, dearth of skilled professionals in developing countries is anticipated to create a hindrance in the market growth.

Segments Overview

The global ophthalmic devices market is segmented into product, vision care, surgical devices, diagnostic & monitoring devices, and end-users

By Product

  • Vision Care Products
  • Surgical Devices
  • Diagnostic & Monitoring Devices

Based on product, the vision care products segment is estimated dominate the market, with the largest share of more than 55% of ophthalmic devices market in 2020. Whereas, surgical devices segment is estimated to grow at a highest CAGR of 6.9% during the forecast period.

By Vision Care

  • Spectacles
  • Contact Lenses

Based on vision care, contact lenses segment is forecasted to grow at a highest CAGR of 7.2% during the forecast period.

By Surgical Devices

  • Cataract Surgical Devices
  • Ophthalmic Viscoelastic Devices
  • Vitreoretinal Surgical Devices
  • Refractive Surgical Devices
  • Glaucoma Surgical Devices
  • Ophthalmic Microscopes
  • Ophthalmic Surgical
  • Accessories

Based on surgical devices, cataract surgical devices segment is forecasted to dominate the market with a share of more than 35% of ophthalmic devices market in 2020. The segment is estimated to continue this dominance during the forecast period.

By Diagnostic & Monitoring Devices

  • Ophthalmoscopes
  • Chart Projectors
  • Corneal Topography Systems
  • Fundus Cameras
  • Lensometers
  • Ophthalmic Ultrasound Imaging Systems
  • Autorefractors & Keratometers
  • Optical Biometry Systems
  • Optical Coherence Tomography Scanners
  • Phoropters
  • Retinoscopes
  • Slit Lamps
  • Specular Microscopes
  • Tonometers
  • Wavefront Aberrometers
  • Indirect Ophthalmic Lens

The diagnostic & monitoring devices market is estimated to be dominate by ophthalmic ultrasound imaging systems segment. The segment is estimated to capture more than 13% of the market in 2020.

By End Users

  • Consumers
  • Hospitals
  • Specialty Clinics & Ambulatory Surgery Centers
  • Other End Users

Based on end users, the consumers segment is estimated to capture the largest market share in 2020.

Regional Overview

On the regional basis, the global ophthalmic devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America is dominating the global ophthalmic devices market. Growing number of eye related diseases in U.S. is one of the most important factors attributed to the dominance of North America region. Whereas, Europe region is expected to follow North America, and capture the second largest share of market in 2020.

Competitive Landscape

Key players operating in the market include Alcon, Bausch + Lomb, Canon Inc., Carl Zeiss Meditec AG, Clearlab SG PTE, Ltd., EssilorLuxottica SA, Glaukos Corporation, Haag-Streit Holding, HEINE Optotechnik, Hoya Corporation, Johnson & Johnson Vision, Lumenis,Luneau Technology Group, Neo Vision, Nidek Co. Ltd., OcuLentis, STAAR Surgical Company, Topcon Corporation, Ziemer Ophthalmic Systems AG, Marco, Kowa Optimed. Inc., Oculus Inc., Reichert, Inc., Beye, LLC(Keeler), CSO srl, Takagi, Rexxam, Inami, Welch Allyn, Huvitz, Plusoptix, Tomey, Volk, Ellex Medical Laser Limited, Iridex Corp. among others. The major 10 players in the market accounted for a cumulative market share of nearly 70% in 2020.

The global ophthalmic devices market report offers insights on the below pointers:

1. Market Penetration: The research report provides comprehensive data on the market offered by the prominent players
2. Market Development: The report offers detailed analysis about emerging markets and examines penetration across mature segments of the markets
3. Market Diversification: The research report offers comprehensive information about untapped geographies, recent developments, and investments
4. Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches, collaborations in the market have been provided in this research report. In addition, the report also includes a SWOT analysis of the leading market players.

The global ophthalmic devices market report answers questions such as:

1. What is the market size and forecast of the global ophthalmic devices market?
2. What are the inhibiting factors and impact of COVID-19 on the global ophthalmic devices market during the assessment period?
3. Which are the products/segments/applications to invest in over the assessment period in the global ophthalmic devices market?
4. What are the technology trends in the global ophthalmic devices market?
5. What strategies are considered favourable for entering the global ophthalmic devices market?

Table of Contents

Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Ophthalmic Devices Market
Chapter 4. Global Ophthalmic Devices Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Raw Material Supplier
4.1.2. Manufacturer
4.1.3. Distributors
4.1.4. End Users
4.2. PESTLE Analysis
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of Substitutes
4.3.4. Threat of New Entrants
4.3.5. Degree of Competition
4.4. Market Dynamics and Trends
4.4.1. Growth Drivers
4.4.2. Restraints
4.4.3. Challenges
4.4.4. Key Trends
4.5. Covid-19 Impact Assessment on Market Growth Trend
4.6. Market Growth and Outlook
4.6.1. Market Revenue Estimates and Forecast (US$ Bn), 2017 - 2027
4.6.2. Market Volume Estimates and Forecast (Mn Units), 2017 - 2027
4.6.3. Pricing Analysis
4.7. Regulatory Landscape
4.7.1. FDA
4.7.2. CE Mark
4.7.3. Pharmaceuticals and Medical Devices Agency and Ministry of Health, Labor, and Welfare (MHLW)
4.7.4. Other Regulatory Bodies
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping
Chapter 5. Ophthalmic Devices Market, By Product
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
5.2.1. Vision Care Products
5.2.2. Surgical Devices
5.2.3. Diagnostic & Monitoring Devices
Chapter 6. Ophthalmic Devices Market- Vision Care Products
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
6.2.1. Spectacles
6.2.2. Contact Lenses
Chapter 7. Ophthalmic Devices Market- Surgical Device
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
7.2.1. Cataract Surgical Devices
7.2.2. Ophthalmic Viscoelastic Devices
7.2.3. Vitreoretinal Surgical Devices
7.2.4. Refractive Surgical Devices
7.2.5. Glaucoma Surgical Devices
7.2.6. Ophthalmic Microscopes
7.2.7. Ophthalmic Surgical Accessories (Surgical Instruments & Kits, Ophthalmic Forceps and Others)
Chapter 8. Ophthalmic Devices Market- Diagnostic & Monitoring Devices
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
8.2.1. Autorefractors & Keratometers
8.2.2. Chart Projectors
8.2.3. Corneal Topography Systems
8.2.4. Fundus Cameras
8.2.5. Lensometers
8.2.6. Ophthalmic Ultrasound Imaging Systems
8.2.7. Ophthalmoscopes
8.2.8. Optical Biometry Systems
8.2.9. Optical Coherence Tomography Scanners
8.2.10. Perimeters/Visual Field Analyzers
8.2.11. Phoropters
8.2.12. Retinoscopes
8.2.13. Slit Lamps
8.2.14. Specular Microscopes
8.2.15. Tonometers
8.2.16. Wavefront Aberrometers
8.2.17. Indirect Ophthalmic Lens
Chapter 9. Opthalmic Devices Market, By End User
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
9.2.1. Consumers
9.2.2. Hospitals
9.2.3. Specialty Clinics & Ambulatory Surgery Centers
9.2.4. Other End Users
Chapter 10. Ophthalmic Devices Market, By Region/ Country
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
10.2.1. North America The U.S. Canada Mexico
10.2.2. Europe Western Europe The UK Germany France Italy Spain Rest of Western Europe Eastern Europe Poland Russia Rest of Eastern Europe
10.2.3. Asia Pacific China India Japan Australia & New Zealand ASEAN Rest of Asia Pacific
10.2.4. Middle East & Africa (MEA) UAE Saudi Arabia South Africa Rest of MEA
10.2.5. South America Brazil Argentina Rest of South America
Chapter 11. North America Ophthalmic Devices Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
11.2.1. By Product
11.2.2. By End User
11.2.3. By Country
Chapter 12. Europe Ophthalmic Devices Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
12.2.1. By Product
12.2.2. By End User
12.2.3. By Country
Chapter 13. Asia Pacific Ophthalmic Devices Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
13.2.1. By Product
13.2.2. By End User
13.2.3. By Country
Chapter 14. Middle East & Africa Ophthalmic Devices Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
14.2.1. By Product
14.2.2. By End User
14.2.3. By Country
Chapter 15. South America Ophthalmic Devices Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
15.2.1. By Product
15.2.2. By End User
15.2.3. By Country
Chapter 16. Japan Ophthalmic Devices Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
16.2.1. By Product
16.2.2. By End User
Chapter 17. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
17.1. Alcon
17.2. Bausch + Lomb
17.3. Canon Inc.
17.4. Carl Zeiss Meditec AG
17.5. Clearlab SG PTE, Ltd.
17.6. EssilorLuxottica SA
17.7. Glaukos Corporation
17.8. Haag-Streit Holding
17.9. HEINE Optotechnik
17.10. Hoya Corporation
17.11. Johnson & Johnson Vision
17.12. Lumenis
17.13. Luneau Technology Group
17.14. Neo Vision
17.15. Nidek Co. Ltd.
17.16. OcuLentis
17.17. STAAR Surgical Company
17.18. Topcon Corporation
17.19. Ziemer Ophthalmic Systems AG
17.20. Marco
17.21. Kowa Optimed. Inc.
17.22. Oculus Inc.
17.23. Reichert, Inc.
17.24. Beye, LLC(Keeler)
17.25. CSO srl
17.26. Takagi
17.27. Rexxam
17.28. Inami
17.29. Welch Allyn
17.30. Huvitz
17.31. Plusoptix
17.32. Tomey
17.33. Volk
17.34. Ellex Medical Laser Limited
17.35. Iridex Corp.
17.36. Other Prominent Players

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Alcon
  • Bausch + Lomb
  • Canon Inc.
  • Carl Zeiss Meditec AG
  • Clearlab SG PTE, Ltd.
  • EssilorLuxottica SA
  • Glaukos Corporation
  • Haag-Streit Holding
  • HEINE Optotechnik
  • Hoya Corporation
  • Johnson & Johnson Vision
  • Lumenis
  • Luneau Technol

Table Information