USD 41.4 billion
Ophthalmic Devices Market Size, Share, Growth Analysis, By Product (Diagnostic And Monitoring Devices, Optical Coherence Tomography Scanners), By End User (Consumers, Hospitals), By Application (Cataract, Vitreo Retinal Disorders), By Region - Industry Forecast 2025-2032
Report ID:
SQSG35A2037 |
Region:
Global |
Published Date: December, 2024
Pages:
260
|Tables:
61
|Figures:
75
Ophthalmic Devices Market Insights
Ophthalmic Devices Market size was valued at USD 39.35 Billion in 2023 and is poised to grow from USD 41.49 Billion in 2024 to USD 74.87 Billion by 2032, growing at a CAGR of 5.43% during the forecast period (2025-2032).
Ophthalmology is a field of medicine that focuses on the anatomy, physiology, and disorders of the eyes. Ophthalmic devices are pieces of medical gear made for surgery, examination, and vision correction. Owing to the increased frequency of numerous ophthalmic disorders like glaucoma, cataracts, and other vision-related problems, these devices are becoming more and more important and widely used.
The global market for ophthalmic devices is expanding significantly due in large part to the rising frequency of ocular illnesses like glaucoma and cataracts. Technical advances such as the emergence of intraocular lenses (IOLs)—and the increased emphasis on consumer education and training among many eye care professionals regarding eye diseases and related complications are other significant factors that contribute to the growth of the global market. Additionally, it is expected that an increase in R&D activities for novel devices related to vision error and a rise in consumer consciousness of devices used in ophthalmology will fuel market expansion.
US Ophthalmic Devices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
vision care
Fastest Growth
surgical
Growth Rate
5.2% CAGR
Global Ophthalmic Devices Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Ophthalmic Devices Market Segmental Analysis
Global Ophthalmic Devices Market is segmented by product, end user, application and region. Based on product, the market is segmented into diagnostic and monitoring devices, surgical devices and vision care. Based on end user, the market is segmented into consumers, hospitals, specialty clinics and ambulatory surgery centers and other end users. Based on application, the market is segmented into cataract, vitreo retinal disorders, glaucoma and refractor disorders. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Ophthalmic Devices Market Analysis by Product
A significant portion of the market is currently occupied by the vision care category, which is also expected to expand rapidly in the years to come. This is a result of patients increasingly switching from conventional eyeglasses to contact lenses. Moreover, it is projected that during the projected timeline, competitors' increasing attention to the introduction of new contact lenses would encourage the use of the product.
The dramatic rise of cataract and retinal surgeries, together with the important players' release of new IOLs, is driving up acceptance of IOLs and other devices and boosting the growth of the surgical segment.
Ophthalmic Devices Market Analysis by End Use
In 2021, the global ophthalmic devices market was led by the ophthalmic clinic sector. Growing public knowledge of the advantages offered by ophthalmology clinics, such as shorter wait times, is expected to support category expansion. These advantages, together with the growing use of cutting-edge medical equipment in clinics, are some of the things that are expected to draw a sizable patient base for treatment in these facilities.
Due to the increasing patient inclination towards Ambulatory Surgical Centers (ASCs) and multispecialty clinics for cataracts and other daycare operations, the other segment is projected to experience significant expansion in the upcoming years.
Global Ophthalmic Devices Market By device type, 2021 (%)
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Ophthalmic Devices Market Regional Insights
North America controlled a sizeable 43% of the market in 2021. Excessive impact key drivers for the market are likely to include the constantly expanding senior population and the increased prevalence of chronic eye issues as a result of strong stress and poor lifestyles leading to diabetic retinopathy. The market for ophthalmic devices in this area is also expected to be driven by the adoption of new reimbursement models for ophthalmologic therapy and a strict regulatory environment designed to ensure patient safety.
Due to its quickly developing medical infrastructure, growing occurrence of eye diseases like glaucoma, and increased patient awareness of it, the Asia Pacific market is predicted to grow at the quickest CAGR throughout the projected timeline. The growth can be ascribed to significant market participants like Alcon, Inc. boosting their outsourcing efforts for ophthalmology devices.
Global Ophthalmic Devices Market By Geography, 2021-2028
- Largest
- Fastest
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Ophthalmic Devices Market Dynamics
Ophthalmic Devices Market Driver
- The prevalence of serious eye conditions is rising worldwide, and vision loss is turning into a significant public health problem. The incidence of eye diseases including diabetic retinopathy and ocular hypertension has also increased as a result of the aging population's expansion and the rising rates of chronic conditions such as diabetes and hypertension. As a result, there will be a rise in demand for ophthalmic equipment worldwide.
- The market for ophthalmic devices will expand more favorably in developing nations as a result of increased federal measures and assistance. The goal of the ongoing advancement in ophthalmic technology is to bring about new, cutting-edge eye healthcare choices. Over the course of the projection period, this will significantly increase the demand for ophthalmic devices.
Ophthalmic Devices Market Restraint
- The creation of femtosecond lasers and other technological developments in ophthalmic lasers have shortened operating times, enhanced operative outcomes, and increased patient convenience. The exorbitant price of this equipment, however, is expected to impede their expansion.
- Rural people in emerging nations like India, Saudi Arabia, Israel, Kenya, and South Africa are remarkably ignorant of eye disorders. Access to cutting-edge ophthalmic devices is also restricted or absent in many nations.
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Ophthalmic Devices Market Competitive Landscape
The ophthalmic devices market is extremely cutthroat. The major businesses are making investments in R&D efforts to create cutting-edge strategies and tools to give patients the most recent and enhanced treatments. These key market participants have implemented a variety of strategies, including M&A, partnerships, collaborations, regional business expansion, and new product launches. For example, In July 2021, Veritas Vision System by Johnson & Johnson Vision was Introduced with Features to Address Key Cataract Surgery Needs. the phacoemulsification (phaco) component of the VERITAS Vision System, was developed to address three crucial issues: patient safety, surgeon productivity, and surgeon comfort.
Top Players in the Global Opthalmic Devices Market
- Alcon (Switzerland)
- Johnson & Johnson Vision (USA)
- Carl Zeiss Meditec AG (Germany)
- Hoya Corporation (Japan)
- EssilorLuxottica (France)
- Bausch + Lomb (USA)
- Nidek Co., Ltd. (Japan)
- Topcon Corporation (Japan)
- Glaukos Corporation (USA)
- Abbott Laboratories (USA)
- CooperVision, Inc. (USA)
- STAAR Surgical Company (USA)
- Ziemer Ophthalmic Systems AG (Switzerland)
- Haag-Streit AG (Switzerland)
- Quantel Medical (France)
- Canon Inc. (Japan)
- Heidelberg Engineering GmbH (Germany)
- Menicon Co., Ltd. (Japan)
Ophthalmic Devices Market Recent Development
- In January 2022, in relation to cataract surgery, Alcon purchased Ivantis, a business that makes the Hydrus Microstent, Glaucoma Surgery (MIGS) device. This device lowers eye pressure for those with open-angle glaucoma. Alcon's market position has improved as a result of this acquisition. Additionally, it hoped to enable Alcon to prioritize evidence-based research and extend Hydrus Microstent into the international market.
- In November 2021, the FundusVue camera and the NFC-600 non-mydriatic retinal camera, both made by the international optical firm CrystalVue, have been introduced by Grafton Optical.
Ophthalmic Devices Key Market Trends
- Device-based therapies are essential in the current environment for identifying eye illnesses. The market for ophthalmic devices may expand as a result of the growing trend of adopting technically sophisticated equipment for eye treatment and care. Because of advancements like cataract surgery with many incision choices and vitrectomy, eye procedures are becoming less intrusive. The development of a Femtosecond laser, which can be used in procedures like Femto-LASIK and smiling, has also led to an increase in the utilization of laser-based equipment. Additionally, it is employed during cataract surgery as well as in transplant, inlay, and ring treatments. These innovations are probably going to open up a lot of potential for the market for ophthalmic devices to expand.
Ophthalmic Devices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the vision care category now holds a sizeable share of the market and is predicted to grow quickly in the years to come. The ophthalmic clinic industry dominated the global ophthalmic devices market in 2021. In 2021, North America held a sizable 43 percent of the market, with the Asia Pacific region expected to experience the fastest CAGR growth throughout the forecast period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 39.35 Billion |
| Market size value in 2032 | USD 74.87 Billion |
| Growth Rate | 5.43% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ophthalmic Devices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ophthalmic Devices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ophthalmic Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ophthalmic Devices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ophthalmic Devices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ophthalmic Devices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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