The global ophthalmology devices market size was valued at USD 18,186.7 million in 2018 and expected to expand at a CAGR of 4.1% from 2019 to 2025. The global ophthalmology devices market is growing, due to the rising world’s ageing population, technological advancements and increasing prevalence of various eye related diseases such as cataract, refractive error and others across the world. In addition, the factors such as reimbursement policies, and the growing public demand for better visual outcomes can push the market over the next few years.
Ophthalmology devices are used for the diagnosis and treatment of eye disorders. These devices helps to decrease treatment time and offers quality eye care by ensuring more convenient eye care treatment process for patients and ophthalmologists. Technological advancement and new product development in ophthalmology devices is one of the prominent growth strategy to improve the patient’s comfort level during and after the treatment. Ophthalmology devices engrosses the largest share in the market due to increasing prevalence of various eye related diseases such as cataract, diabetic retinopathy, glaucoma, refractive error and others is one of the prominent factor. Ophthalmology devices consists of advanced technologies such as artificial intelligence (AI), internet of things (IOT) driven ophthalmology devices, femtosecond lasers and multifocal intraocular lenses which is expected to provide growth opportunities for the market over the next few years.
Traditionally, eyeglasses were used as a device for correcting refractive error. However, with technological advancements and shifting consumer preference from eyeglasses due to their cosmetic looks is one of the prominent factors that accentuates the uptake of contact lens or laser surgery. Furthermore, increasing population in emerging economies and rising adoption of digital devices propels the need for eye gear and eye care. These factors are expected to drive the demand for ophthalmology devices over the next few years. However, shortage of ophthalmologist in developing countries hinder the overall growth of ophthalmology devices market at a global level.
Cataract devices are widely used over other ophthalmology devices as cataract is been identified as one of the prominent eye disease which affects the patient population. Development of cataract in an individual can be due to many reasons some of them are age, metabolic disorders, consumption of toxic agents, sunlight exposure, and prolonged exposure to radiation. Over the next few years, the number of cataract sufferers will increase due to changing lifestyle. Division of the global ophthalmology device market into five major continents shows that North America is at the leading position with the highest CAGR in 2018 making up nearly 33% of the total market share.
Ophthalmology Devices Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 18,186.7 million|
|Growth Rate||CAGR of 4.1% during 2021-2028|
|Segment Covered||Device Type, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle-East & Africa|
|Key Players Profiled||Alcon, Inc., Bausch & Lomb, Abbott medical optics, Ciba Vision, STAAR Surgical, Carl Zeiss Meditec, Menicon, Co. Ltd., and Visiongen among others have a broader presence within the global market.|
Key segments of the global ophthalmology devices market
Device Type Overview, 2015-2025 (USD Million)
- Cataract Devices
- Intraocular Lens (IOL)
- Refractive Error Devices
- Contact Lens
- Excimer Laser
- Other Devices
Regional Overview, 2015-2025 (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- South east Asia
- Rest of Asia Pacific
- South America, Middle-East & Africa
- Saudi Arabia
- South Africa
- Rest of the World
Reasons for the study
• The purpose of the study is to give an exhaustive outlook of the global ophthalmology devices industry.
• We have been following the overall segmentation of ophthalmology devices market. The increasing prevalence of eye diseases and rising awareness is expected to drive the market.
• Rising healthcare awareness and increasing disposable income are also the prominent factors supporting the growth of the global ophthalmology devices market.
What does the report include?
• The study on the global ophthalmology devices market includes qualitative factors such as drivers, restraints, and opportunities
• Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis
• The study covers qualitative and quantitative analysis of the market segmented on the basis of devices and region. Moreover, the study provides similar information for the key geographies.
• Actual market sizes and forecasts have been provided for all the above-mentioned segments
• The study includes the profiles of key players in the market with a significant global and/or regional presence
Who should buy this report?
This study is suitable for industry participants and stakeholders in the ophthalmology devices Industry. The report will benefit:
• Executives of ophthalmology devices companies that are engaged in the distribution and marketing
• Managers within financial institutions looking to publish recent and forecasted statistics pertaining to ophthalmology devices
• Venture capitalist looking into investing capital
• Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions.
• Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
The global ophthalmology devices market has shown an exceptional growth in the recent times. These devices ensures convenient eye treatment process for patients and ophthalmologists. Rising geriatric population and growing awareness about eye care support the growth of the global ophthalmology devices market. The demand for premium IOL (Intraocular Lens) by cataract patients has increased due to the technological innovations which provide options, that suit patients own lifestyles and personal preference.
The emerging economies and rising population with increasing adoption of digital devices such as smartphones, tablets, laptops, television, computers, game consoles, and e-reader. Continuous long hours spent in front of these devices causes eye related issues which propels the need for eye care and eye gear. The growing demand for quality of vision due to public awareness of improved postop outcomes and less downtime treatment is expected to bolster ophthalmology device market. Medical technology companies are also taking lead to educate the public to create bottom-up demand for products and solutions which provide a positive growth to ophthalmology device market. Ophthalmology devices are continuously gaining importance and adoption due to high prevalence of various ophthalmic diseases such as, cataract, diabetic retinopathy and other vision related issues. These ophthalmic diseases keep on increasing and anticipates the demand for ophthalmology devices in future.
The ophthalmology devices market may get hampered due to the shortage of ophthalmologist in developing countries. The rising world’s ageing population and technological advancements are the drivers anticipated to offer growth opportunities to the global ophthalmology devices.
The ophthalmology devices market has been segmented based on type, and regional. Based on device type, the market has been classified into cataract, refractive error and other devices. Cataract device is leading the ophthalmology devices market on the basis of type and is expected to remain largest segment over the forecast period because cataract is been identified as one of the prominent eye disease which affects the patient population. It is been estimated that more than 80% of the global population above the age of 65 years are suffering from cataract and this number is expected to increase in near future due to changing lifestyle and growing awareness.
Based on regional segmentation, the market for ophthalmology device are in North America, Europe, Asia Pacific, Latin America, and rest of the world. North America dominated the global ophthalmology devices market primarily due to rising patient awareness, improving healthcare services, favorable reimbursement policies and technological advancements are the factors supporting the dominance of the market in the region. During the forecast period Asia-Pacific ophthalmology devices market is estimated to be a lucrative market owing to increasing patient awarness due to awareness programs and introduction of new devices in the market.
The competitive landscape of the global ophthalmology device market is marked by the presence of players catering to consumers locally as well as internationally. Companies including Alcon, Inc., Bausch & Lomb, Abbott medical optics, Ciba Vision, STAAR Surgical, Carl Zeiss Meditec, Menicon, Co. Ltd., and Visiongen among others have a broader presence within the global market.