The global ophthalmology devices market size was valued at USD 18,186.7 million in 2018. The global ophthalmology devices market is growing, and estimated to grow at a CAGR of 4.1 in the coming years. The growth of ophthalmology devices market is due to rising geriatric population and growing awareness about eye care across the globe. The global ophthalmology devices industry is majorly driven by 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. Additionally, 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. Moreover, the growth in the global ophthalmology devices market was majorly due to rising prevalence of various eye related diseases such as glaucoma, cataract, refractive errors and others. However, shortage of ophthalmologist in developing countries hinder the overall growth of ophthalmology devices market at a global level.
Ophthalmology devices consists of advanced technologies and new product developments 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. 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 which anticipates the growth of ophthalmology devices market.
Segmentation of ophthalmology devices market are done on the basis of type, and regional. 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. 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.
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.
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