Ophthalmic Devices Market Report by Product Type (Surgical, Vision Care), Application (Cataract, Vitreo Retinal Disorders, Glaucoma, Refractor Disorders), End Use (Hospitals and Eye Clinics, Academic and Research Laboratory, and Others), and Region 2024-2032
The global ophthalmic devicesmarket size reached US$ 27.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 38.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.7% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 27.6 Billion
Market Forecast in 2032
US$ 38.5 Billion
Market Growth Rate (2024-2032)
3.7%
Ophthalmic devices are medical equipment used for surgical diagnosis and vision correction. They comprise contact lenses, contact lens care products, diagnostics, implants, intraocular lenses (IOLs), lasers, phacoemulsification systems, artificial tears, and surgical instruments. They are used to diagnose and cure ocular abnormalities or deficits, and other eye diseases. They aid in making the eye-treatment procedure more convenient for patients and ophthalmologists by reducing treatment time and providing high-quality eye care. At present, due to the rising prevalence of ophthalmic diseases, such as cataracts and glaucoma, there is an increase in the demand for ophthalmic devices across the globe.
Ophthalmic Devices Market Trends:
The growing reliance on digital devices, such as laptops, smartphones, computers and e-readers, represents one of the key factors driving the market. Moreover, there is a rise in the utilization of intraocular lenses (IOLs) to replace the natural lens of eyes for restoring both near and distant vision. This, along with the expanding healthcare industry, is propelling the growth of the market. In addition, the growing customer training and education among eye care professionals to cure eye diseases and associated complications is positively influencing the market. Besides this, key market players are extensively investing in research and development (R&D) activities for the development of novel devices to treat vision errors. This, coupled with the rising awareness about ophthalmic devices among individuals, is offering lucrative growth opportunities to industry investors. Additionally, there is an increase in the employment of micro-invasive glaucoma (MIGs) surgical implants for the treatment of mild to moderate glaucoma. In line with this, governments of several countries are undertaking initiatives to promote eye health, which is bolstering the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ophthalmic devicesmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product type, application and end use.
Breakup by Product Type:
Surgical
Implants
Consumables
Equipment
Vision Care
Contact Lens
Ocular Health
Breakup by Application:
Cataract
Vitreo Retinal Disorders
Glaucoma
Refractor Disorders
Breakup by End Use:
Hospitals and Eye Clinics
Academic and Research Laboratory
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bausch & Lomb Incorporated (Bausch Health Companies Inc.), Carl Zeiss Meditec AG, EssilorLuxottica SA, Haag-Streit Group, HOYA Surgical Optics GmbH (Hoya Corporation), Leica Microsystems GmbH (Danaher Corporation), Nidek Co Ltd., Topcon Corporation, Volk Optical Inc. and Ziemer Ophthalmic Systems AG.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Product Type, Application, End Use, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered
Bausch & Lomb Incorporated (Bausch Health Companies Inc.), Carl Zeiss Meditec AG, EssilorLuxottica SA, Haag-Streit Group, HOYA Surgical Optics GmbH (Hoya Corporation), Leica Microsystems GmbH (Danaher Corporation), Nidek Co Ltd., Topcon Corporation, Volk Optical Inc. and Ziemer Ophthalmic Systems AG
Customization Scope
10% Free Customization
Report Price and Purchase Option
Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support
10-12 Weeks
Delivery Format
PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global ophthalmic devices market was valued at US$ 27.6 Billion in 2023.
We expect the global ophthalmic devices market to exhibit a CAGR of 3.7% during 2024-2032.
The rising prevalence of ophthalmic diseases, such as cataracts and glaucoma, along with the growing demand for ophthalmic devices in eye-treatment procedure, as it is aids in reducing the treatment time and providing high-quality eye care, is primarily driving the global ophthalmic devices market.
The sudden outbreak of the COVID-19 pandemic had led to postponement of elective ophthalmic disease treatment procedures to reduce the risk of the coronavirus infection upon hospital visits and interaction with medical equipment, thereby negatively impacting the global market for ophthalmic devices.
Based on the product type, the global ophthalmic devices market has been segmented into surgical and vision care. Currently, vision care holds the majority of the total market share.
Based on the end use, the global ophthalmic devices market can be divided into hospitals and eye clinics, academic and research laboratory, and others. Among these, hospitals and eye clinics currently exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa.
Some of the major players in the global ophthalmic devices market include Bausch & Lomb Incorporated (Bausch Health Companies Inc.), Carl Zeiss Meditec AG, EssilorLuxottica SA, Haag-Streit Group, HOYA Surgical Optics GmbH (Hoya Corporation), Leica Microsystems GmbH (Danaher Corporation), Nidek Co Ltd., Topcon Corporation, Volk Optical Inc., and Ziemer Ophthalmic Systems AG.
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