The global ophthalmic devices market was valued at $53,428.8 million in 2019, and is projected to reach $66,719.3 million by 2027, registering a CAGR of 4.2% from 2020 to 2027. The growth of the global ophthalmic devices market is majorly driven by rise In incidence of vision disorders, technological advancements in ophthalmic devices such as intraocular lenses (IOLs), and increase in focus on customer training & education for use of ophthalmic devices, which would help in building the staff skills. In addition, increase in R&D developments for novel devices development related to vision error and surge in awareness related to devices used in ophthalmology contribute toward the growth of the global market. However, low awareness regarding eye-related diseases and dearth of skilled professionals are expected to hamper the growth of the market.
Ophthalmology is a branch of medical science that deals with the structure, function, and various eye diseases. Ophthalmic devices are medical equipment designed for diagnosis, surgery, and vision correction. They cover a wide range of design types and applications such as contact lenses, glasses, intraocular lenses, implants, lasers, diagnostics, and surgical instruments. These devices are gaining increased importance and adoption due to surge in prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision-related issues.
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On the contrary, emerging countries such as China and India possess high growth potential, owing to improvement in healthcare infrastructure in these countries, which is anticipated to offer remunerative opportunities for the expansion of the market during the forecast period. Depending on product function, the report segments the global ophthalmic devices market into ophthalmic surgical devices, diagnostic devices, and vision care devices. The ophthalmic surgical devices segment is further categorized into refractive error surgical devices, glaucoma surgical devices, cataract surgical devices, and vitreoretinal surgical devices.
The ophthalmic diagnostic devices segment is subsegmented into refractors, corneal topography systems, retinal ultrasound systems, fundus camera, ophthalmoscopes, optical coherence tomography systems, perimeters, slit lamps, and tonometer. The vision care devices segment is bifurcated into contact lenses and spectacle lenses On a regional level, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America ophthalmic devices market accounted for the largest share; however, Asia-Pacific is anticipated to grow with the highest CAGR of 4.6% during the forecast period.
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KEY BENEFITS FOR STAKEHOLDERS
– The study provides an in-depth analysis of the global ophthalmic devices market size along with the current trends and future estimations to elucidate the imminent investment pockets.
– It offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
– A comprehensive analysis on region assists to understand the regional market and facilitate the strategic business planning and determine prevailing opportunities.
– The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global ophthalmic devices market growth.
List of key players profiled in the report
– Novartis AG
– Carl Zeiss Meditec AG
– Essilor International S.A.
– HAAG-Streit Holding AG
– Johnson & Johnson
– Nidek Co., Ltd.
– Topcon Corporation
– Valeant Pharmaceuticals International, Inc.
– Ziemer Ophthalmic Systems AG
– Hoya Corporation
– Sonomed Escalon
– Gulden Ophthalmics
– FCI Ophthalmics
– Glaukos Corporation
– STAAR Surgical GE Healthcare
KEY MARKET SEGMENTS
By Product Function
– Ophthalmic Surgical Devices
o Refractive Error Surgical Devices
o Glaucoma Surgical Devices
o Cataract Surgery Devices
o Vitreoretinal Surgical Devices
– Ophthalmic Diagnostic Devices
o Refractors
o Corneal Topography Systems
o Retinal Ultrasound Systems
o Fundus Camera
o Ophthalmoscopes
o Optical Coherence Tomography Systems
o Perimeters
o Slit Lamps
o Tonometer’s
– Ophthalmic Vision Care Devices
o Contact Lenses
o Spectacle Lenses
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By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
– Asia-Pacific
o Japan
o China
o India
o Australia
o Rest of Asia-Pacific
– LAMEA
o Brazil
o South Africa
o Saudi Arabia
o Rest of LAMEA
Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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