Global Ophthalmic Devices Market Report, Size, Share, Opportunities, and Trends Segmented By Type, Application, End User, and Geography – Forecast from 2025 to 2030

Description

Ophthalmic Devices Market Size:

The Ophthalmic Devices Market will grow from USD 21.238 billion in 2025 to USD 29.235 billion by 2030, fueled by a 6.60% compound annual growth rate (CAGR).

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Ophthalmic devices are equipment that helps in the correction of vision affected by eye diseases such as cataracts, optic nerve disorder, retinal disorder, diabetic eye problems, and others. These devices also facilitate treatment of myopia and hyperopia, providing the patient with a lensless vision. During the forecasted period, the rising geriatric population is a key market driver, which will increase the market size significantly.

However, the prime market driver is changing lifestyle and work culture, which has intensified the penetration of electronic devices such as smart TVs, smartphones, tablets, and others, that significantly pressurize the optic nerves, leading to cases of myopia and hyperopia, across all age groups. Increased prevalence of chronic diseases has escalated the chances and severity of eye diseases, while surging disposable income has increased the demand for better medical treatment, which will drive the market growth for the ophthalmic device industry. Growing investment for reducing preventable vision impairment, coupled with technological innovation in the industry, is projected to increase the market prospects during the forecasted period. 

Ophthalmic Devices Market Growth Drivers: 

• Rising cases of vision impairment and preventable blindness have increased government and health organization concerns, which are forecasted to increase the market growth for ophthalmic devices.

A report by the World Health Organization on blindness and vision impairment, published in September 2020, estimates that there were around 2.2 billion people in 2020 who suffer from some vision impairment. More than 89% of this vision-impaired population reside in low- and middle-income countries. Moreover, the report states that vision impairment could have been prevented in at least 1 billion people with timely and adequate treatment. It is also estimated that by 2050, around half of the world's population, around 4.8 billion people, will have myopic vision.

It was also discovered in the report that cataract is a leading cause of preventable blindness and impacts 100 million eyes annually. A cataract is common among the aging population, which slowly loses its vision with time. The rising density of the geriatric population is anticipated to increase the cases of cataracts, treatment of which will drive the market size of ophthalmic devices. Glaucoma is another eye disease that progressively damages the optic nerve and leads to blindness with its severity. Annually, more than 60 million people globally are affected by glaucoma, causing intense pressure on the eyes. To search for the cure of this silent thief of sight, Novartis has been developing neuroprotective therapies for better treatment. Dry eye is another prevalent eye disease that has raised concerns. Globally, more than 334 million patients suffer from dry eye annually, resulting in impaired vision.

Retinal Disease is the dominant cause of severe vision loss, impacting 20 to 25 million people each year. Furthermore, the rising prevalence of chronic diseases has also severely increased the threat of retinal and dry eye diseases, in addition to other eye diseases. Diabetes, cardiovascular disease, and obesity combined to cause 51% of global deaths yearly, and have exacerbated the severity of eye diseases. Diabetes and retinal diseases, in particular, have been known to cause serious damage to patients. Diabetic Macular Edema (DME) and Retinal Vein Occlusion (RVO) are severe retinal diseases whose severity magnifies if the patient suffers from cardiovascular diseases as well.

Hence, rising instances of vision impairment, blindness, and other eye diseases have increased serious concerns for the government and health organizations, who are expected to invest heavily in the healthcare and vision care industry, which will drive the market growth of ophthalmic devices.      

• Lifestyle changes and increasing complexity in the work culture are forecasted to increase cases of myopia/hyperopia among all age demographics, increasing the market prospects.

Another key driver of the global ophthalmic device industry is the rising complexities of lifestyle. Increased penetration of electronics and other devices has significantly boosted the screen time of an average individual. Particularly, during the COVID pandemic, with operations shifting to virtual platforms, the average screen time was found to have increased by 25%. Further, a study by Healio found that, due to digital education and other activities, average screen time among students increased by 15% in an increase of 2 hrs/ day. The study raised caution about the possibility of a myopic epidemic due to the COVID-19 pandemic. It was discovered that 90% of teenagers in East Asia have developed short-sightedness, while in the United States, this value has increased from 20% to 40%. 

Furthermore, the adapted work-from-home market trend to continue business operations has led to an increase in screen time among the workforce, which is anticipated to further increase the patient base and drive the market growth of ophthalmic devices.

List of Top Ophthalmic Devices Companies:

• Johnson & Johnson
• Bausch & Lomb Incorporated
• Carl Zeiss AG
• Essilor
• Nidek Co Ltd

Ophthalmic Devices Market Scope:

Ophthalmic Devices Market Segmentation:

• By Type
  • Surgical Device
    • Needle Holders
    • Forceps
    • Retractors & Speculum
    • Others
  • Diagnostics Device
    • Ophthalmoscope
    • Tonometer
    • Phoropter
    • Others
  • Vision Care Products
    • Contact Lenses
    • Spectacles
  • Others
• By Application
  • Cataract
  • Glaucoma
  • Refractive Errors
    • Myopia
    • Hyperopia
  • Others
• By End-User
  • Hospitals & Clinics
  • Ambulatory Surgical Centers
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Thailand
    • Taiwan
    • Others

Table Of Contents

1. EXECUTIVE SUMMARY 

2. MARKET SNAPSHOT

2.1. Market Overview

2.2. Market Definition

2.3. Scope of the Study

2.4. Market Segmentation

3. BUSINESS LANDSCAPE 

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities 

3.4. Porter’s Five Forces Analysis

3.5. Industry Value Chain Analysis

3.6. Policies and Regulations 

3.7. Strategic Recommendations 

4. TECHNOLOGICAL OUTLOOK

5. GLOBAL OPHTHALMIC DEVICES MARKET BY TYPE

5.1. Introduction

5.2. Surgical Device

5.2.1. Needle Holders

5.2.2. Forceps

5.2.3. Retractors & Speculum

5.2.4. Others

5.3. Diagnostics Device

5.3.1. Ophthalmoscope

5.3.2. Tonometer

5.3.3. Phoropter

5.3.4. Others

5.4. Vision Care Products

5.4.1. Contact Lenses

5.4.2. Spectacles

5.5. Others

6. GLOBAL OPHTHALMIC DEVICES MARKET BY APPLICATION

6.1. Introduction

6.2. Cataract

6.3. Glaucoma

6.4. Refractive Errors

6.4.1. Myopia

6.4.2. Hyperopia

6.5. Others

7. GLOBAL OPHTHALMIC DEVICES MARKET BY END-USER

7.1. Introduction

7.2. Hopsitals & Clinics

7.3. Ambulatory Surgical Centers

7.4. Others

8. GLOBAL OPHTHALMIC DEVICES MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Type

8.2.2. By Application

8.2.3. By End-User

8.2.4. By Country

8.2.4.1. USA

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Type

8.3.2. By Application

8.3.3. By End-User

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Type

8.4.2. By Application

8.4.3. By End-User

8.4.4. By Country

8.4.4.1. Germany

8.4.4.2. France

8.4.4.3. United Kingdom

8.4.4.4. Italy

8.4.4.5. Spain

8.4.4.6. Others

8.5. Middle East and Africa

8.5.1. By Type

8.5.2. By Application

8.5.3. By End-User

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. UAE

8.5.4.3. Israel

8.5.4.4. Others

8.6. Asia Pacific

8.6.1. By Type

8.6.2. By Application

8.6.3. By End-User

8.6.4. By Country

8.6.4.1. China

8.6.4.2. India

8.6.4.3. Japan

8.6.4.4. South Korea

8.6.4.5. Indonesia

8.6.4.6. Thailand

8.6.4.7. Taiwan

8.6.4.8. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Competitive Dashboard

10. COMPANY PROFILES

10.1. Johnson & Johnson

10.2. Bausch & Lomb Incorporated

10.3. Carl Zeiss AG

10.4. Essilor

10.5. Nidek Co Ltd

10.6. Topcon Corporation

10.7. Ziemer Ophthalmic Systems

10.8. Alcon Vision LLC

10.9. Hoya Corporation

10.10. Haag-Streit Group

11. APPENDIX

11.1. Currency 

11.2. Assumptions

11.3. Base and Forecast Years Timeline

11.4. Key benefits for the stakeholders

11.5. Research Methodology 

11.6. Abbreviations 

LIST OF FIGURES

LIST OF TABLES

Companies Profiled

Johnson & Johnson

Bausch & Lomb Incorporated

Carl Zeiss AG

Essilor

Nidek Co Ltd

Topcon Corporation

Ziemer Ophthalmic Systems

Alcon Vision LLC

Hoya Corporation

Haag-Streit Group

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