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Global Ophthalmic Devices Market: By Product Function: Surgical Devices, Diagnostic Devices, Vision Care Devices, Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, EMR’s Key Indicators for Demand; Competitive Landscape; Industry Events and Developments

Global Ophthalmic Devices Market Outlook

The global ophthalmic devices market reached a value of about USD 57.96 billion in 2021. The market is further expected to grow at a CAGR of 4.20% in the forecast period of 2022-2027 to reach a value of approximately USD 73.97 billion by 2027.

 

Global Ophthalmic Devices Market

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Increasing Demand for Surgical Devices to Augment the Ophthalmic Devices Industry Growth

Based on product function, the surgical devices segment accounts for a significant share in the ophthalmic devices industry. This can be attributed to an increase in the number of chronic diseases and an exponentially growing geriatric population.

The healthcare segment has witnessed a rise in surgeries to treat diseases such as cataract, glaucoma, detached retinas, retinal tears, near-sightedness, far-sightedness, and diabetic retinopathy, which is enhancing the demand for surgical devices, and, in turn, providing a boost to the market.

 

North America Expected to Witness a Significant Growth Owing to Rising Chronic Eye Diseases Among the Geriatric Population

Region-wise, North America is expected to witness a robust growth over the forecast period owing to a growing geriatric population and rising vision-related diseases such as cataract, glaucoma, and age-related macular degeneration. The elderly population is constantly investing in vision care devices to treat eye disorders, which is expected to provide a boost to the market. Moreover, the region has a well-developed healthcare sector and a high awareness related to ophthalmic diseases and devices, which is further expected to propel the market growth in North America.

 

Ophthalmic Devices: Market Segmentation

Ophthalmic devices refer to medical equipment used for diagnosis, surgery, and vision correction. The rising number of chronic eye diseases and other vision-related issues such as glaucoma, detached retinas, retinal tears, diabetic retinopathy, and cataract among the growing population worldwide is enhancing the adoption of these devices.

 

Global Ophthalmic Devices Market by Segment

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By product function, the market is divided into:

  • Surgical Devices 
    • Refractive Error Surgical Devices
    • Glaucoma Surgical Devices
    • Cataract Surgical Devices
    • Vitreoretinal Surgical Devices
  • Diagnostic Devices 
    • Refractors
    • Corneal Topography Systems
    • Retinal Ultrasound Systems
    • Fundus Camera
    • Ophthalmoscopes
    • Optical Coherence Tomography Systems
    • Perimeters
    • Slit lamps
    • Tonometer
  • Vision Care Devices
    • Contact Lenses
    • Spectacle Lenses

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Ophthalmic Devices Market by Region

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Rising Chronic Eye Diseases and the Growing Geriatric Population to Bolster the Growth of the Ophthalmic Devices Industry

In recent years, the world has witnessed a rise in number of chronic eye diseases owing to changing lifestyle patterns and diseases related to diabetes and hypertension such as diabetic retinopathy and ocular hypertension. The growing number of diseases is compelling patients to adopt ophthalmic devices, such as vision care devices, to improve their vision. Moreover, the rising vision related disorders are also pressurising healthcare officials to spread awareness regarding these diseases and their treatment, which is providing a further boost to the market.  However, rural populations cannot easily access such devices due to their lack of awareness and price factors, which is may hamper the market growth.

Over the forecast period, the major market players are expected to invest in research and development activities to develop cost-effective and innovative devices for accurate eye treatment, which is expected to favour the industry growth. Further, various government programmes such as the FDA’s Research on Ophthalmology Medical Devices and the Indian Government’s National Programme for Control of Blindness in India is expected to assist the market growth.

 

Key Industry Players in the Global Ophthalmic Devices Market

The report gives a detailed analysis of the following key players in the global ophthalmic devices market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Carl Zeiss Meditec AG   
  • Essilor International S.A.
  • Haag-Streit Holding
  • Hoya Corporation 
  • NIDEK CO., LTD.
  • Bausch Health Companies Inc. 
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2021
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Function, Region
Breakup by Product Function Surgical Devices, Diagnostic Devices, Vision Care Devices
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Carl Zeiss Meditec AG, Essilor International S.A., Haag-Streit Holding, Hoya Corporation, NIDEK CO., LTD., Bausch Health Companies Inc., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Ophthalmic Devices Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Ophthalmic Devices Historical Market (2017-2021) 
    8.3    Global Ophthalmic Devices Market Forecast (2022-2027)
    8.4    Global Ophthalmic Devices Market by Product Function
        8.4.1    Surgical Devices
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Refractive Error Surgical Devices
                    8.4.1.4.1.1     Market Share
                    8.4.1.4.1.2     Historical Trend (2017-2021)
                    8.4.1.4.1.3     Forecast Trend (2022-2027)
                8.4.1.4.2    Glaucoma Surgical Devices
                    8.4.1.4.2.1    Market Share
                    8.4.1.4.2.2     Historical Trend (2017-2021)
                    8.4.1.4.2.3     Forecast Trend (2022-2027)
                8.4.1.4.3    Cataract Surgical Devices
                    8.4.1.4.3.1    Market Share
                    8.4.1.4.3.2     Historical Trend (2017-2021)
                    8.4.1.4.3.3     Forecast Trend (2022-2027)
                8.4.1.4.4    Vitreoretinal Surgical Devices
                    8.4.1.4.4.1    Market Share
                    8.4.1.4.4.2     Historical Trend (2017-2021)
                    8.4.1.4.4.3     Forecast Trend (2022-2027)
        8.4.2    Diagnostic Devices
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Refractors
                    8.4.2.4.1.1     Market Share
                    8.4.2.4.1.2     Historical Trend (2017-2021)
                    8.4.2.4.1.3     Forecast Trend (2022-2027)
                8.4.2.4.2    Corneal Topography Systems
                    8.4.2.4.2.1     Market Share
                    8.4.2.4.2.2     Historical Trend (2017-2021)
                    8.4.2.4.2.3     Forecast Trend (2022-2027)
                8.4.2.4.3    Retinal Ultrasound Systems
                    8.4.2.4.3.1     Market Share
                    8.4.2.4.3.2     Historical Trend (2017-2021)
                    8.4.2.4.3.3     Forecast Trend (2022-2027)
                8.4.2.4.4    Fundus Camera
                    8.4.2.4.4.1    Market Share
                    8.4.2.4.4.2     Historical Trend (2017-2021)
                    8.4.2.4.4.3     Forecast Trend (2022-2027)
                8.4.2.4.5    Ophthalmoscopes
                    8.4.2.4.5.1    Market Share
                    8.4.2.4.5.2     Historical Trend (2017-2021)
                    8.4.2.4.5.3     Forecast Trend (2022-2027)
                8.4.2.4.6    Optical Coherence Tomography Systems
                    8.4.2.4.6.1    Market Share
                    8.4.2.4.6.2     Historical Trend (2017-2021)
                    8.4.2.4.6.3     Forecast Trend (2022-2027)
                8.4.2.4.7    Perimeters
                    8.4.2.4.7.1    Market Share
                    8.4.2.4.7.2     Historical Trend (2017-2021)
                    8.4.2.4.7.3     Forecast Trend (2022-2027)
                8.4.2.4.8    Slit lamps
                    8.4.2.4.8.1    Market Share
                    8.4.2.4.8.2     Historical Trend (2017-2021)
                    8.4.2.4.8.3     Forecast Trend (2022-2027)
                8.4.2.4.9    Tonometer
                    8.4.2.4.9.1    Market Share
                    8.4.2.4.9.2     Historical Trend (2017-2021)
                    8.4.2.4.9.3     Forecast Trend (2022-2027)
        8.4.3    Vision Care Devices
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2022-2027)
            8.4.3.3    Forecast Trend (2022-2027)
            8.4.3.4    Breakup by Type
                8.4.3.4.1    Contact Lenses
                    8.4.3.4.1.1     Market Share
                    8.4.3.4.1.2     Historical Trend (2017-2021)
                    8.4.3.4.1.3     Forecast Trend (2022-2027)
                8.4.3.4.2    Spectacle Lenses
                    8.4.3.4.2.1     Market Share
                    8.4.3.4.2.2     Historical Trend (2017-2021)
                    8.4.3.4.2.3     Forecast Trend (2022-2027)
    8.5    Global Ophthalmic Devices Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country Kingdom
            9.2.3.1    United 
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Carl Zeiss Meditec AG
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Essilor International S.A.
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Haag-Streit Holding
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Hoya Corporation
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    NIDEK CO., LTD.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Bausch Health Companies Inc.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments


List of Key Figures and Tables

1.    Global Ophthalmic Devices Market: Key Industry Highlights, 2017 and 2027
2.    Global Ophthalmic Devices Historical Market: Breakup by Product Function (USD Billion), 2017-2021
3.    Global Ophthalmic Devices Market Forecast: Breakup by Product Function (USD Billion), 2022-2027
4.    Global Ophthalmic Devices Historical Market: Breakup by Region (USD Billion), 2017-2021
5.    Global Ophthalmic Devices Market Forecast: Breakup by Region (USD Billion), 2022-2027
6.    North America Ophthalmic Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
7.    North America Ophthalmic Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
8.    Europe Ophthalmic Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
9.    Europe Ophthalmic Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
10.    Asia Pacific Ophthalmic Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    Asia Pacific Ophthalmic Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Latin America Ophthalmic Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Latin America Ophthalmic Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Middle East and Africa Ophthalmic Devices Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Middle East and Africa Ophthalmic Devices Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Global Ophthalmic Devices Market Structure

Key Questions Answered in the Report

In 2021, the global ophthalmic devices market attained a value of nearly USD 57.96 billion.

The market is projected to grow at a CAGR of 4.20% between 2022 and 2027.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach USD 73.97 billion by 2027.

The major drivers of the industry, such as the growing geriatric population, rising vision-related chronic diseases, investments in research and development (R&D) activities, and rising awareness of eye-related diseases and their treatments, are expected to aid the market growth.

The key market trends guiding the growth of the industry include the growing technological advancements in the ophthalmic devices sector and the rising government initiatives to tackle eye related disorders.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major segments based on product function in the industry include surgical devices, diagnostic devices, and vision care devices.

The major players in the industry are Carl Zeiss Meditec AG, Essilor International S.A., Haag-Streit Holding, Hoya Corporation, NIDEK CO., LTD., Bausch Health Companies Inc., and others.

Analyst Review

The global ophthalmic devices market attained a value of USD 57.96 billion in 2021, driven by the increasing geriatric population and rising number of chronic vision-related diseases. Aided by the growing innovations in the ophthalmic devices sector and the rising government initiatives to tackle eye-related disorders, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 4.20%. The market is projected to reach USD 73.97 billion by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By product function, the market is segmented into surgical devices, diagnostic devices, and vision care devices. Among these, the surgical devices segment is further divided based on type into refractive error surgical devices, glaucoma surgical devices, cataract surgical devices, and vitreoretinal surgical devices while the diagnostic devices segment is sub divided 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 further bifurcated into contact lenses and spectacle lenses. The major regional markets for ophthalmic devices are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Carl Zeiss Meditec AG, Essilor International S.A., Haag-Streit Holding, Hoya Corporation, NIDEK CO., LTD., Bausch Health Companies Inc., and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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