The global ophthalmic equipment market size is expected to reach USD 92.4 billion by 2030, according to a new study by Polaris Market Research. The report “Ophthalmic Equipment Market Share, Size, Trends, Industry Analysis Report, By Product; By End-Use (Consumers, Hospitals, Specialty Clinics & Ambulatory Surgery Centers, Others); By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth of the ophthalmic device market is primarily driven by the growing geriatric population, increasing adoption of digital devices, and technological advances to enable efficient diagnosis and treatment. In addition, the demand for ophthalmic devices continues to accelerate due to increased incidences of vision loss and eye diseases.
Asia is the fastest-growing market for ophthalmic devices due to the rising number of eye surgeries, improved healthcare facilities in developing nations, and several government steps to control visual impairment. In addition, a rise in the number of new entrants with a strong local distribution network and constant technological advancement for product modifications collectively spurt the market growth in this region.
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The rising adoption of contact lenses and spectacles and increased government initiatives to control visual disorders are supposed to stimulate the market's growth. Additionally, the low penetration of phacoemulsification devices and premium IOLs in emerging economies provides many opportunities to the market players.
Covid-19 hampered the market due to the government's stringent rules and regulations for social distancing, which led to decreased manufacturing of the equipment.
Ophthalmic Equipment Market Report Highlights
- Vision care products accounted for the most considerable market share in 2021 due to increasing demand for spectacles and contact lenses such as soft contact lenses, RGP lenses, and hybrid contact lenses.
- The consumer segment accounted for the most significant market share in 2021 due to increasing ocular disorders with the rising adoption of contact lenses and spectacles.
- North America dominated the regional market during the forecast period due to the rising geriatric population, increasing healthcare expenditure, and awareness about eye care and ocular diseases in emerging economies such as the US and Canada.
- The global market is highly competitive owing to the existence of prominent industry players with a worldwide presence, including Alcon Vision LLC, Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, Essilor International S.A, Haag-Streit Group, Ivantis Inc., Johnson & Johnson Vision Care, Nidek Co. Ltd, TOPCON Corporation, and Ziemer Ophthalmic Systems Ltd.
Polaris Market Research has segmented the ophthalmic equipment market report based on product, end-use, and region:
Ophthalmic Equipment, Product Outlook (Revenue - USD Billion, 2018 - 2030)
- Vision Care Products
- Contact Lenses
- Soft Contact Lenses
- Rigid Gas Permeable Lenses
- Hybrid Contact Lenses
- Surgical Devices
- Cataract Surgical Devices
- Intraocular Lenses
- Ophthalmic Viscoelastic Devices
- Phacoemulsification Devices
- Cataract Surgical Lasers
- IOL Injectors
- Vitreoretinal Surgical Devices
- Vitrectomy Machines
- Vitreoretinal Packs
- Photocoagulation Lasers
- Illumination Devices
- Vitrectomy Probes
- Refractive Surgical Devices
- Femtosecond Lasers
- Excimer Lasers
- Other Refractive Surgical Lasers
- Glaucoma Surgical Devices
- Glaucoma Drainage Devices
- Microinvasive Glaucoma Surgery Devices
- Glaucoma Laser Systems
- Ophthalmic Microscopes
- Ophthalmic Surgical Accessories
- Surgical Instruments & Kits
- Ophthalmic Forceps
- Ophthalmic Spatulas
- Ophthalmic Tips & Handles
- Ophthalmic Scissors
- Macular Lenses
- Ophthalmic Cannulas
- Other Ophthalmic Surgical Accessories
- Diagnostic and Monitoring Devices
- Optical Coherence Tomography Scanners
- Fundus Cameras
- Perimeters/Visual Field Analyzers
- Autorefractors & Keratometers
- Ophthalmic Ultrasound Imaging Systems
- Ultrasound Microscopes
- Slit Lamps
- Wavefront Aberrometers
- Optical Biometry Systems
- Lens meters
- Corneal Topography Systems
- Chart Projectors
- Specular Microscopes
Ophthalmic Equipment, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
- Specialty Clinics & Ambulatory Surgery Centers
Ophthalmic Equipment, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa