Ophthalmic Devices: Technologies and Global Markets
The global market for ophthalmic devices is estimated to increase from $47.5 billion in 2022 to reach $64.2 billion by 2027, at a compound annual growth rate (CAGR) of 6.2% from 2022 through 2027.
- 50 data tables and 13 additional tables
- A detailed overview and up-to-date analysis of the global markets for ophthalmic devices and related technologies
- Analyses of the global and regional market trends, with data for 2019-2022, and projections of compound annual growth rates (CAGRs) through 2027
- Discussion of the industry growth driving factors and challenges that will shape the market for ophthalmic devices as a basis for projecting demand over the next few years (2022-2027)
- Estimation of the actual market size and revenue forecast for global ophthalmic devices market in USD millions, and corresponding market share analysis by technology type, application, and region
- Analysis of the recent advances in contact lenses, cataract surgery, implantation ophthalmic devices, and complex medical surgeries; and their potential impact on diagnosis of prevalent eye conditions and improved healthcare solutions
- In-depth information (facts and figures) concerning major market dynamics, technology updates, latest developments, industry regulations, and other macroeconomic forces affecting the present and future market outlook
- Assessment of the recent industry structure, ongoing research activities, analysis of competitive environment, and COVID-19 effects on the ophthalmic devices market ecosystem
- Patent review and analysis of patent grants on ophthalmic device technologies
- Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues
- Descriptive company profiles of the market leading players, including EssilorLuxottica, Alcon, Bausch & Lomb, Carl Zeiss Meditec, CooperVision, Johnson & Johnson, Nidek, Topcon Corp., and Hoya Vision Care
During the last few years, significant improvements have been made in diagnosing ophthalmic conditions such as glaucoma, macular degeneration, and other retinal disorders. The market has been fueled by favorable reimbursement of ocular devices and surgery in the U.S. and more excellent healthcare insurance coverage in Europe. Advancements in cataract and refractory surgery devices have improved the safety and efficacy of routine procedures, enhanced surgical outcomes, and reduced perioperative morbidity.
The current report provides detailed information about the ophthalmic devices-global market. This report highlights this medical equipment’s current and future market potential and a detailed analysis of the market’s drivers, challenges, and opportunities. Revenues are broken down by region, type, and application. For market estimates, data has been provided for 2019, 2020, and 2021 (as the base year), 2022, and a forecast for 2027. The report also covers market share for major market players. It includes the company profiles of the major players with detailed information about their business segments, financials, product portfolios, recent developments, and pipeline products. It also provides the impact of the COVID-19 pandemic on this market.
This report on ophthalmic devices provides a brief description of the current status of the industry and recent developments. The report analyzes the market trends and identifies critical medical and geographical challenges and rising opportunities in the developed and developing world. Finally, it will provide insights regarding new developments in ophthalmic and surgical devices that help to improve diagnosis and enhance the treatment of cataracts, glaucoma, and refractory and retinal disorders.
Frequently Asked Questions (FAQs)
- Increasing prevalence of vision impairment
- Technological advancements and innovations
- Growing aging population specially in Asia-Pacific region
- Increasing Government initiatives
- Use of mobile based and artificial intelligence technologies
BCC Research Team possesses expertise and experience in life and physical science domains. They specialize in offering valuable business insights, including industry analysis, competitor intelligence, strategic and financial analysis, and opportunity assessment. The team has in-depth knowledge of various sectors, including healthcare, biotechnology, pharmaceuticals, IT, automation, advanced materials, and energy. They are proficient in qualitative and quantitative market intelligence providing clients with actionable insights. With a vast understanding of the competitive landscape, the team can support clients in making data-driven decisions to help them achieve a competitive edge in their respective markets.
|Base year considered||2021|
|Forecast period considered||2022-2027|
|Base year market size||$45.1 billion|
|Market size forecast||$64.2 billion|
|Growth rate||CAGR of 6.2% for the forecast period of 2022-2027|
|Units considered||$ Millions|
|Segments covered||region, type, and application|
|Regions covered||North America, Europe, Asia-Pacific, and Rest of the World|
|Countries covered||United States, Canada, France, Germany, Italy, Spain, United Kingdom, Russia, China, Japan, Australia, India, and Korea|
|Key Market Drivers||
|Companies studied||ALCON , BAUSCH + LOMB INC. , BIO-TISSUE INC. , COOPERVISION , DUTCH OPHTHALMIC RESEARCH CENTER INTERNATIONAL BV , ELLEX MEDICAL LASERS , ESSILORLUXOTTICA , EYENUK INC. , GLAUKOS , HEIDELBERG ENGINEERING GMBH , HOYA CORP. , IOPTIMA LTD. , IRIDEX CORP. , JOHNSON & JOHNSON , LENSTEC INC. , LUMENIS , NIDEK CO. LTD. , OASIS MEDICAL INC. , QUANTEL MEDICAL , SAV-IOL SA , SHANGHAI HAOHAI BIOLOGICAL TECHNOLOGY CO. LTD. , SIGHT SCIENCES INC. , SOFTCARE SOLUTION INC. , STAAR SURGICAL , TEARSCIENCE INC. , TOPCON , VASOPTIC MEDICAL INC. , ZEISS GROUP , ZIEMER OPHTHALMIC SYSTEMS AG|
The global market for ophthalmic devices reached nearly $21.0 billion in 2017 and should reach $28.2 billion by 2022, at a compound annual growth rate (CAGR) of 6.1% for the period of 2017-2022
- 32 data tables
- A comprehensive analysis of the market for ophthalmic devices by reviewing recent advances in diagnostic, surgical, and implantation devices that can be used to treat prevalent eye conditions
- Analyses of global market trends, with data from 2016, estimates for 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Analysis of the recent advances in ophthalmic medical devices and their potential impact on the medical device industry
- Evaluation of the market's dynamics, specifically growth drivers, restraints, and opportunities
- Company profiles of major key players in the market, including Abbott Medical Optics, Alcon, Bausch & Lomb, Carl Zeiss Meditec, Johnson & Johnson, Quantel Medical, Topcon and Ziemer Ophthalmic Systems AG
The global market for ophthalmic devices reached $16.8 billion and nearly $17.7 billion in 2013 and 2014, respectively. This market is forecasted to grow at a compound annual growth rate (CAGR) of 4.6% to reach $22.1 billion in 2019.
- A comprehensive analysis of the ophthalmic device market by reviewing recent advances in diagnostic, surgical and implantation devices that can be used to treat prevalent eye conditions
- Analyses of global market trends, with data from 2013 and 2014, and projections of CAGRs through 2019.
- Breakdowns of the market by device, application, and region.
- Analysis of the recent advances in ophthalmic medical devices and their potential impact on the medical device industry.
- Evaluation of the mareket's dynamics, specifically growth drivers, restraints, and opportunities.
- Profiles of major players in the industry.