Number of pages: 100 | Report Format: PDF | Published date: 13 July, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global ophthalmology devices market was pegged at US$ 5.0 billion in 2021 and is expected to witness a CAGR of 4.9% during the forecast period from 2022 to 2030.
Market Fundamentals
Ophthalmology is a medical field that deals with the physiology and anatomy of the eye and also eye-related problems. The ophthalmic devices are used in the diagnosis and treatment procedures for any eye disorders. Innovations in ophthalmic devices, contact lenses, etc. have a big impact on the market revenue shares. The large patient base for eye disorders in society gave a boost to this market.
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Market Dynamics
A considerable growth is observed in the ophthalmology devices market globally. The growth of the ophthalmology devices market is owed to the rising elderly population, rising prevalence of ophthalmic disorders/illnesses, and rising demand for minimally invasive surgeries. Furthermore, technological innovations & advancements and the increasing adoption rate of contact lenses and spectacles also contribute to boosting the demand for ophthalmic devices, thereby upsurging the ophthalmology devices market globally. However, there are some pitfalls in this market. The high cost of ophthalmic devices, and the dearth of skilled professionals are a few reasons which may adversely affect the growth of the market globally. Moreover, the risk associated with eye surgeries can also prove to be one of the big challenges in the ophthalmology devices market.
Market Ecosystem
The global ophthalmology devices market has been analyzed from four perspectives: by Product, Application, End-User, and Region.
Ophthalmology Devices Market by Product
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Based on product, the ophthalmology devices market has been segmented into optical coherence tomography, ophthalmoscope, ophthalmic ultrasound, slit lamp, and fundus camera. The optical coherence tomography (OCT) scanner segment holds the largest share in the market and is expected to show continuous growth in the forecast period. The OCT provides high-resolution and 3-D images of biological microstructure and is majorly used to diagnose diseases such as glaucoma, age-related macular degeneration, and diabetic retinopathy. As these eye disorders have a big patient base due to the growing geriatric population, hence fuel the ophthalmic devices market globally.
Ophthalmology Devices Market by Application
Based on the application, the global ophthalmology devices market has been subdivided into glaucoma, cataracts, refractive error, and diabetic retinopathy. Cataract currently dominates the market with the largest revenue share. The growth can be attributed to the growing geriatric population and poor lifestyle. The growing number of cataract surgeries increases the adoption of ophthalmic devices, thereby helping in upsurging this market.
On the other hand, the refractive disorder segment witnesses the fastest growth in the forecast period. The rising prevalence of refractive error across the globe is due to the escalated screen time on different devices that affects the general eye health. These reasons help to hike the ophthalmology devices market.
Ophthalmology Devices Market by End User
Based on end-user, the market has been segmented into hospitals, ambulatory surgical centers, and specialty clinics. The hospital segment dominates the market with the largest revenue share in 2021. This can be owed to the growth in patients’ footfall for ophthalmic treatments in the hospitals are high.
Ophthalmology Devices Market by Region
Based on region, the global ophthalmology devices market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America leads the market with the largest revenue share and is also expected to maintain its dominance in the forecast period. This position is owed to the increasing patient base of eye disorders, rising geriatric population, and rapid adoption of innovative and availability of advanced technologies for better output. Furthermore, an unhealthy lifestyle caused by growing stress leading to diabetic retinopathy also drives the market in North America. Moreover, the presence of favorable reimbursement policies for ophthalmic treatments also surges the growth of the ophthalmology devices market in this region.
Competitive Landscape
Some of the prominent players operating in the global ophthalmology devices market are
Strategic Developments
Report Attribute |
Details |
Market size value in 2021 |
USD 5.0 billion |
Revenue forecast in 2030 |
USD 7.69 billion |
Growth Rate |
CAGR of 4.9% from 2022 to 2030 |
Base year for estimation |
2021 |
Forecast period |
2022-2030 |
Segments covered |
By Type, By Source, Distribution Channel |
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global ophthalmology devices market was anticipated to clock US$ 5.0 billion in 2021
The global ophthalmology devices market is mainly driven by rising elderly population, rising prevalence of ophthalmic disorders/illnesses, and rising demand for minimally invasive surgeries
Ziemer Ophthalmic Systems AG, Nidek Co., Ltd.; Johnson & Johnson Services Inc.; Essilor International S.A., Carl Zeiss Meditec AG, Topcon Corporation, Bausch Health Companies Inc., Glaukos Corporation, Luneau Technology, and Hoya Corporation among others
The growth rate of ophthalmology devices market is CAGR of 4.9% between 2022-2030
North America dominated the ophthalmology devices market with the largest share, followed by the Asia Pacific.
The ophthalmology devices market is projected to reach US$ 7.69 billion by 2030
9.1.1 Business Snapshot
9.1.2 Product Offered
9.1.3 Financial Details
9.1.4 Strategic Development
*Insights on financial permanence is subject to availability of information in public domain
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