Global Ophthalmology Devices Market Segmentation, By Product Type (Vision Care Devices, Surgery Devices, Diagnostic and Monitoring Devices), Application (Vision Care, Ophthalmic Wound care, Cataract Surgery, Oculoplastic, Others), End User (Hospitals, Diagnosis Clinics, Franchise Optical Stores, Eye Research Institutes, Government Agencies and Academics) – Industry Trends and Forecast to 2031.
Ophthalmology Devices Market Analysis
There has been surging cases of age-related eye diseases such as diabetic retinopathy, macular degeneration, cataract and glaucoma across the globe. According to different studies of these disorders, the prevalence of cataract, AMD, open-angle glaucoma, DR, and visual impairment is high, especially in persons over 75 years old. The increased eye diseases cases have resulted in increased demand for the effective treatment of these diseases, which further drives the adoption of ophthalmology devices across various end users. Furthermore, the increase in technological developments, including introducing intraocular lenses (IOLs), will accelerate the market expansion within the forecasted timeline.
Ophthalmology Devices Market Size
Global Ophthalmology Devices Market size was valued at USD 59.73 billion in 2023 and is projected to reach USD 83.01 billion by 2031, with a CAGR of 4.20% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Ophthalmology Devices Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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EssilorLuxottica (France), Alcon Management S. A. (U.S), Johnson & Johnson Vision (U.S), HOYA Corporation (Japan), Bausch + Lomb (US), Zeiss (Germany), Neo Vision Foundation (Korea), Lumenis Be Ltd. (Israel), ClearLab (Singapore), OPHTEC BV (Netherlands), HEINE Optotechnik GmbH & Co. KG (Germany), Topcon (Japan), Glaukos Corporation (U.S), Haag-Streit Group (Switzerland), NIDEK Co. Ltd., (Japan), STAAR Surgical (US), Ziemer Ophthalmic Systems (Switzerland), Oculentis (Germany), Heidelberg Engineering GmbH (Germany), Canon India Pvt Ltd. (Japan) and LuneauTech (France)
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Ophthalmology Devices Market Definition
Ophthalmology is basically a medical specialty that studies the eyes' structure, function, and diseases. Ophthalmic devices are the medical devices that are generally utilized for the vision correction, surgery, and diagnosis. The rising prevalence of ophthalmic disorders such as glaucoma, cataracts, and other vision-related issues, results in increased popularity and awareness regarding their benefits.
Ophthalmology Devices Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growing Burden Of Diseases
The growing burden of various disease such as the ophthalmic diseases that includes cataract and glaucoma is the most significant factor driving the growth for this market. Growing geriatric population base, which is more susceptible to developing eye diseases, is also expected to accelerate the market's overall growth.
- Increasing Penetration of Devices
Furthermore, the increase in the penetration of digital devices, such as smartphones, laptops and computers, e-readers, etc. is also expected to fuel market growth.
- Increasing Awareness Amongst Population
Moreover, the several government associations are also working towards increasing awareness towards ophthalmic diseases, which further cushions the market's growth within the forecasted period. Increasing focus towards customer training and education among eye care professionals regarding eye diseases and associated complications will also propel the market growth.
The enhancing healthcare infrastructure across the developing regions and the growing demand and preference for minimally invasive surgeries are also projected to bolster the market's growth.
Opportunities
- Growing Investments and Advancements
Moreover, the increase in the technological developments including the introduction of intraocular lenses (IOLs) are estimated to generate lucrative opportunities for the market. Various technological advancements and innovations in ophthalmology devices by the market players for effective treatment will further offer numerous growth opportunities for the market.
Restraints/Challenges Global Ophthalmology Devices Market
- Lower Awareness Regarding Diseases
The dearth of awareness regarding the eye-related diseases, across the developing economies is expected to obstruct market growth.
- Dearth of Professionals To Pose as a Challenge
Also, the shortage of skilled professionals are projected to challenge the ophthalmology devices market in the forecast period of 2024-2031.
- High Risk Will Hamper Growth
In LASIK surgery, there are some issues regarding use of ophthalmology device such as changes made to the cornea can't be reversed, which is why eye surgeries are very risky. Patient's concern regarding the high risks associated with the eye surgeries will also hamper the market's overall growth.
This ophthalmology devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ophthalmology devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Ophthalmology Devices Market Scope
The ophthalmology devices market is segmented on the basis of product type, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Vision Care Devices
- Surgery Devices
- Diagnostic and Monitoring Devices
On the basis of product type, the ophthalmology devices market is segmented into vision care devices, surgery devices and diagnostic and monitoring devices. The vision care devices are sub-segmented into contact lenses and spectacle lenses. Contact lenses are sub-segmented into soft contact lenses, rigid gas permeable lenses (RGP), toric contact lenses and others. The surgery devices ae sub-segmented into cataract surgery devices, glaucoma surgery devices, refractive surgery devices and vitreoretinal surgery devices. The cataract surgery devices are further sub-segmented into intraocular lenses, phacoemulsification devices, ophthalmic viscoelastic devices, cataract surgical lasers, iol injectors and others. The glaucoma surgery devices are further sub-segmented into glaucoma drainage devices, glaucoma lasers, minimally invasive glaucoma surgery (MIGS) and others. The refractive surgery devices are further sub-segmented into excimer lasers, femtosecond lasers and others. The vitreoretinal surgery devices are sub-segmented into photocoagulation lasers, illumination devices, vitreoretinal packs, vitrectomy machines, vitrectomy probes and others. The diagnostic and monitoring devices are sub-segmented into autorefractor, biometer, corneal topography systems, fundus cameras, keratometers, lensmeters, ophthalmic ultrasound imaging systems, ophthalmoscopes, optical biometry systems, optical coherence tomography scanner, pachymeter, perimeters/visual field analyzers, phoropters, retinoscopes, slit lamps, specular microscopes, tonometer, wavefront aberrometers and others.
Application
- Vision Care
- Ophthalmic Wound care
- Cataract Surgery
- Oculoplastic
- Others
On the basis of application, the ophthalmology devices market is segmented into vision care, ophthalmic wound care, cataract surgery, oculoplastic and others.
End User
- Hospitals
- Diagnosis Clinics
- Franchise Optical Stores
- Eye Research Institutes
- Government Agencies and Academics
On the basis of end user, the ophthalmology devices market is bifurcated into hospitals, diagnosis clinics, franchise optical stores, eye research institutes and government agencies and academics.
Ophthalmology Devices Market Regional Analysis
The ophthalmology devices market is analyzed and market size insights and trends are provided by country, product type, application and end user as referenced above.
The countries covered in the ophthalmology devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the ophthalmology devices market because of the diabetic retinopathy and the loss of vision and blindness cases within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the increase in the geriatric population along with the rise in the inclination toward surgical procedures for treatment within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The ophthalmology devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for ophthalmology devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the ophthalmology devices market. The data is available for historic period 2010-2020.
Ophthalmology Devices Market Share Analysis
The ophthalmology devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ophthalmology devices market.
Ophthalmology Devices Market Leaders Operating in the Market Are:
- EssilorLuxottica (France)
- Alcon Management S. A. (U.S)
- Johnson & Johnson Vision (U.S)
- HOYA Corporation (Japan)
- Bausch + Lomb (US)
- Zeiss (Germany)
- Neo Vision Foundation (Korea)
- Lumenis Be Ltd. (Israel)
- ClearLab (Singapore)
- OPHTEC BV (Netherlands)
- HEINE Optotechnik GmbH & Co. KG (Germany)
- Topcon (Japan)
- Glaukos Corporation (U.S)
- Haag-Streit Group (Switzerland)
- NIDEK Co. Ltd., (Japan)
- STAAR Surgical (US)
- Ziemer Ophthalmic Systems (Switzerland)
- Oculentis (Germany)
- Heidelberg Engineering GmbH (Germany)
- Canon India Pvt Ltd. (Japan)
- LuneauTech (France)
Latest Developments in Ophthalmology Devices Market
- In April 2020, Haag-Streit Group, based in Switzerland, has bought 77% of Vrmagic, a German vision company. The acquisition comes after a four-year technology cooperation on the Eyesi Slit Lamp, a simulator for ophthalmology slit lamp examinations.
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