Ophthalmic Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The global ophthalmic devices market is poised for significant growth, driven by the increasing prevalence of eye disorders and vision loss. Ophthalmic devices are critical in diagnosing and treating ocular defects, deficiencies, and various eye disorders. The market is expected to expand substantially over the forecast period.

Key Market Dynamics

The surge in lifestyle-related ophthalmic disorders has been notable in recent years. Additionally, the growing geriatric population is experiencing age-related ophthalmic ailments such as cataract, glaucoma, and macular degeneration, further fueling the global market for ophthalmic devices. Increased prevalence of conditions like diabetic retinopathy, visual impairment, blindness, bulging eyes, diabetic macular edema, ocular hypertension, retinal detachment, uveitis, and refractive errors is also anticipated to drive demand for ophthalmic devices. The rising occurrence of eye disorders in children will contribute to market growth during the forecast period.

Governments in developed regions are already supporting sophisticated healthcare infrastructures and several dedicated ophthalmic centers. In developing markets, governments are increasingly promoting state-of-the-art healthcare infrastructure, which is expected to favor the growth of the ophthalmic devices market. Technological advancements in ophthalmic devices aim to introduce innovative and advanced healthcare options, creating substantial demand over the forecast period.

However, the growth of the ophthalmic devices market faces challenges such as inadequate awareness about eye disorders and available treatment options in developing regions. Additionally, poor healthcare infrastructure and low prioritization of ophthalmic care are anticipated to negatively impact market growth. Lack of sufficient healthcare insurance is another restraint, likely to hamper market expansion in developing countries. Rising primary healthcare costs in these regions also pose a challenge to market growth.

Segment Analysis

The global ophthalmic devices market is segmented based on type into vision care devices, diagnostic devices, and surgery devices. Among these, the vision care devices segment is the largest, while the surgery devices segment is the fastest growing. Vision care devices are further divided into contact lenses and spectacle lenses, with spectacle lenses being more widely used. However, contact lenses are expected to witness substantial growth through to the forecast period. The surgery devices segment is bifurcated into cataract surgery devices, glaucoma surgery devices, refractive error surgery devices, and vitreoretinal surgery devices, with cataract surgery devices comprising the largest sub-segment.

The diagnostic devices segment includes sub-segments such as optical coherence tomography (OCT) scanners, fundus cameras, slit lamps, tonometers, ophthalmoscopes, retinoscope, pachymeter, wavefront aberrometers, corneal topographers, biometers, keratometers, visual field analyzers (perimeters), specular microscopes, autorefractors, and ophthalmic ultrasound imaging systems.

Geographic Analysis

Geographically, the global ophthalmic devices market is segmented into four key regions: North America, Europe, Asia, and the rest of the world. North America, particularly the U.S., is the leading market globally and is expected to maintain its dominance during the forecast period. Europe represents a significant market owing to the rising incidence of chronic eye diseases among the geriatric population. The Asian market, led by China and India, is anticipated to witness substantial growth due to the larger patient pool and the established prevalence of cataract, glaucoma, and diabetic retinopathy. The region is also experiencing an increase in aging-related macular degeneration.

Key Market Players

The global ophthalmic devices market is highly competitive, with several leading players continually focusing on developing and launching new ophthalmic devices. Some of the prominent companies operating in the market include:

Johnson & Johnson
Bausch & Lomb Incorporated
Novartis AG
Abbott Laboratories, Inc.
Essilor International
Hoya Corporation
VisionCare, Inc.
Carl Zeiss AG
Canon Inc.
Nidek Co Ltd.
Topcon Corp.
Alcon Inc.
CooperVision AG

1. Executive Summary

1.1. Global Ophthalmic Devices Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Price Analysis, 2023

3.1. Global Average Price Analysis, by Product, US$ Per Unit, 2023
3.2. Prominent Factor Affecting Ophthalmic Devices Prices
3.3. Global Average Price Analysis, by Region, US$ Per Unit, 2023

4. Global Ophthalmic Devices Market Outlook, 2018 - 2031

4.1. Global Ophthalmic Devices Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Diagnostic Devices
    - 4.1.1.1.1. Optical Coherence Tomography (OCT) Scanners
    - 4.1.1.1.2. SLIT Lamps
    - 4.1.1.1.3. Ophthalmoscopes
    - 4.1.1.1.4. Keratometers
    - 4.1.1.1.5. Autorefractors
    - 4.1.1.1.6. Ophthalmic Ultrasound Imaging Systems
    - 4.1.1.1.7. Pachymeter
    - 4.1.1.1.8. Others
  - 4.1.1.2. Surgical Devices
    - 4.1.1.2.1. Cataract Surgical Devices
    - 4.1.1.2.2. Refractive Error Surgical Devices
    - 4.1.1.2.3. Glaucoma Surgical Devices
    - 4.1.1.2.4. Vitreoretinal Surgical Devices
  - 4.1.1.3. Vision Care Devices
    - 4.1.1.3.1. Spectacle Lenses
    - 4.1.1.3.2. Contact lenses
4.2. Global Ophthalmic Devices Market Outlook, By End User, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Hospitals
  - 4.2.1.2. Ambulatory Surgical Centers
  - 4.2.1.3. Ophthalmic Clinics
  - 4.2.1.4. Others
4.3. Global Ophthalmic Devices Market Outlook, by Region, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. North America
  - 4.3.1.2. Europe
  - 4.3.1.3. Asia Pacific
  - 4.3.1.4. Latin America
  - 4.3.1.5. Middle East & Africa

5. North America Ophthalmic Devices Market Outlook, 2018 - 2031

5.1. North America Ophthalmic Devices Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Diagnostic Devices
    - 5.1.1.1.1. Optical Coherence Tomography (OCT) Scanners
    - 5.1.1.1.2. SLIT Lamps
    - 5.1.1.1.3. Ophthalmoscopes
    - 5.1.1.1.4. Keratometers
    - 5.1.1.1.5. Autorefractors
    - 5.1.1.1.6. Ophthalmic Ultrasound Imaging Systems
    - 5.1.1.1.7. Pachymeter
    - 5.1.1.1.8. Others
  - 5.1.1.2. Surgical Devices
    - 5.1.1.2.1. Cataract Surgical Devices
    - 5.1.1.2.2. Refractive Error Surgical Devices
    - 5.1.1.2.3. Glaucoma Surgical Devices
    - 5.1.1.2.4. Vitreoretinal Surgical Devices
  - 5.1.1.3. Vision Care Devices
    - 5.1.1.3.1. Spectacle Lenses
    - 5.1.1.3.2. Contact lenses
5.2. North America Ophthalmic Devices Market Outlook, By End User, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Hospitals
  - 5.2.1.2. Ambulatory Surgical Centers
  - 5.2.1.3. Ophthalmic Clinics
  - 5.2.1.4. Others
5.3. North America Ophthalmic Devices Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. U.S. Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 5.3.1.2. U.S. Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 5.3.1.3. Canada Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 5.3.1.4. Canada Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
- 5.3.2. BPS Analysis/Market Attractiveness Analysis

6. Europe Ophthalmic Devices Market Outlook, 2018 - 2031

6.1. Europe Ophthalmic Devices Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Diagnostic Devices
    - 6.1.1.1.1. Optical Coherence Tomography (OCT) Scanners
    - 6.1.1.1.2. SLIT Lamps
    - 6.1.1.1.3. Ophthalmoscopes
    - 6.1.1.1.4. Keratometers
    - 6.1.1.1.5. Autorefractors
    - 6.1.1.1.6. Ophthalmic Ultrasound Imaging Systems
    - 6.1.1.1.7. Pachymeter
    - 6.1.1.1.8. Others
  - 6.1.1.2. Surgical Devices
    - 6.1.1.2.1. Cataract Surgical Devices
    - 6.1.1.2.2. Refractive Error Surgical Devices
    - 6.1.1.2.3. Glaucoma Surgical Devices
    - 6.1.1.2.4. Vitreoretinal Surgical Devices
  - 6.1.1.3. Vision Care Devices
    - 6.1.1.3.1. Spectacle Lenses
    - 6.1.1.3.2. Contact lenses
6.2. Europe Ophthalmic Devices Market Outlook, By End User, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Hospitals
  - 6.2.1.2. Ambulatory Surgical Centers
  - 6.2.1.3. Ophthalmic Clinics
  - 6.2.1.4. Others
6.3. Europe Ophthalmic Devices Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Germany Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.2. Germany Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 6.3.1.3. U.K. Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.4. U.K. Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 6.3.1.5. France Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.6. France Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 6.3.1.7. Italy Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.8. Italy Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 6.3.1.9. Turkiye Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.10. Turkiye Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 6.3.1.11. Russia Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.12. Russia Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 6.3.1.13. Rest of Europe Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 6.3.1.14. Rest of Europe Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
- 6.3.2. BPS Analysis/Market Attractiveness Analysis

7. Asia Pacific Ophthalmic Devices Market Outlook, 2018 - 2031

7.1. Asia Pacific Ophthalmic Devices Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Diagnostic Devices
    - 7.1.1.1.1. Optical Coherence Tomography (OCT) Scanners
    - 7.1.1.1.2. SLIT Lamps
    - 7.1.1.1.3. Ophthalmoscopes
    - 7.1.1.1.4. Keratometers
    - 7.1.1.1.5. Autorefractors
    - 7.1.1.1.6. Ophthalmic Ultrasound Imaging Systems
    - 7.1.1.1.7. Pachymeter
    - 7.1.1.1.8. Others
  - 7.1.1.2. Surgical Devices
    - 7.1.1.2.1. Cataract Surgical Devices
    - 7.1.1.2.2. Refractive Error Surgical Devices
    - 7.1.1.2.3. Glaucoma Surgical Devices
    - 7.1.1.2.4. Vitreoretinal Surgical Devices
  - 7.1.1.3. Vision Care Devices
    - 7.1.1.3.1. Spectacle Lenses
    - 7.1.1.3.2. Contact lenses
7.2. Asia Pacific Ophthalmic Devices Market Outlook, By End User, Value (US$ Bn), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Hospitals
  - 7.2.1.2. Ambulatory Surgical Centers
  - 7.2.1.3. Ophthalmic Clinics
  - 7.2.1.4. Others
7.3. Asia Pacific Ophthalmic Devices Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. China Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 7.3.1.2. China Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 7.3.1.3. Japan Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 7.3.1.4. Japan Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 7.3.1.5. South Korea Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 7.3.1.6. South Korea Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 7.3.1.7. India Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 7.3.1.8. India Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 7.3.1.9. Southeast Asia Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 7.3.1.10. Southeast Asia Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 7.3.1.11. Rest of Asia Pacific Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 7.3.1.12. Rest of Asia Pacific Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
- 7.3.2. BPS Analysis/Market Attractiveness Analysis

8. Latin America Ophthalmic Devices Market Outlook, 2018 - 2031

8.1. Latin America Ophthalmic Devices Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Diagnostic Devices
    - 8.1.1.1.1. Optical Coherence Tomography (OCT) Scanners
    - 8.1.1.1.2. SLIT Lamps
    - 8.1.1.1.3. Ophthalmoscopes
    - 8.1.1.1.4. Keratometers
    - 8.1.1.1.5. Autorefractors
    - 8.1.1.1.6. Ophthalmic Ultrasound Imaging Systems
    - 8.1.1.1.7. Pachymeter
    - 8.1.1.1.8. Others
  - 8.1.1.2. Surgical Devices
    - 8.1.1.2.1. Cataract Surgical Devices
    - 8.1.1.2.2. Refractive Error Surgical Devices
    - 8.1.1.2.3. Glaucoma Surgical Devices
    - 8.1.1.2.4. Vitreoretinal Surgical Devices
  - 8.1.1.3. Vision Care Devices
    - 8.1.1.3.1. Spectacle Lenses
    - 8.1.1.3.2. Contact lenses
8.2. Latin America Ophthalmic Devices Market Outlook, By End User, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Hospitals
  - 8.2.1.2. Ambulatory Surgical Centers
  - 8.2.1.3. Ophthalmic Clinics
  - 8.2.1.4. Others
8.3. Latin America Ophthalmic Devices Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Brazil Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 8.3.1.2. Brazil Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 8.3.1.3. Mexico Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 8.3.1.4. Mexico Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 8.3.1.5. Argentina Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 8.3.1.6. Argentina Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 8.3.1.7. Rest of Latin America Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 8.3.1.8. Rest of Latin America Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis

9. Middle East & Africa Ophthalmic Devices Market Outlook, 2018 - 2031

9.1. Middle East & Africa Ophthalmic Devices Market Outlook, By Product, Value (US$ Bn) and Volume (Units), 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Diagnostic Devices
    - 9.1.1.1.1. Optical Coherence Tomography (OCT) Scanners
    - 9.1.1.1.2. SLIT Lamps
    - 9.1.1.1.3. Ophthalmoscopes
    - 9.1.1.1.4. Keratometers
    - 9.1.1.1.5. Autorefractors
    - 9.1.1.1.6. Ophthalmic Ultrasound Imaging Systems
    - 9.1.1.1.7. Pachymeter
    - 9.1.1.1.8. Others
  - 9.1.1.2. Surgical Devices
    - 9.1.1.2.1. Cataract Surgical Devices
    - 9.1.1.2.2. Refractive Error Surgical Devices
    - 9.1.1.2.3. Glaucoma Surgical Devices
    - 9.1.1.2.4. Vitreoretinal Surgical Devices
  - 9.1.1.3. Vision Care Devices
    - 9.1.1.3.1. Spectacle Lenses
    - 9.1.1.3.2. Contact lenses
9.2. Middle East & Africa Ophthalmic Devices Market Outlook, By End User, Value (US$ Bn), 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Hospitals
  - 9.2.1.2. Ambulatory Surgical Centers
  - 9.2.1.3. Ophthalmic Clinics
  - 9.2.1.4. Others
9.3. Middle East & Africa Ophthalmic Devices Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. GCC Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 9.3.1.2. GCC Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 9.3.1.3. South Africa Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 9.3.1.4. South Africa Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 9.3.1.5. Egypt Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 9.3.1.6. Egypt Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 9.3.1.7. Nigeria Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 9.3.1.8. Nigeria Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
  - 9.3.1.9. Rest of Middle East & Africa Ophthalmic Devices Market By Product, Value (US$ Bn), 2018 - 2031
  - 9.3.1.10. Rest of Middle East & Africa Ophthalmic Devices Market By End User, Value (US$ Bn), 2018 - 2031
- 9.3.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape

10.1. Company Market Share Analysis, 2023
10.2. Competitive Dashboard
10.3. Company Profiles
- 10.3.1. Bausch & Lomb Incorporated
  - 10.3.1.1. Company Overview
  - 10.3.1.2. Product Portfolio
  - 10.3.1.3. Financial Overview
  - 10.3.1.4. Business Strategies and Development
- 10.3.2. Abbott
  - 10.3.2.1. Company Overview
  - 10.3.2.2. Product Portfolio
  - 10.3.2.3. Financial Overview
  - 10.3.2.4. Business Strategies and Development
- 10.3.3. Essilor International
  - 10.3.3.1. Company Overview
  - 10.3.3.2. Product Portfolio
  - 10.3.3.3. Financial Overview
  - 10.3.3.4. Business Strategies and Development
- 10.3.4. Carl Zeiss AG
  - 10.3.4.1. Company Overview
  - 10.3.4.2. Product Portfolio
  - 10.3.4.3. Financial Overview
  - 10.3.4.4. Business Strategies and Development
- 10.3.5. Canon, Inc.
  - 10.3.5.1. Company Overview
  - 10.3.5.2. Product Portfolio
  - 10.3.5.3. Financial Overview
  - 10.3.5.4. Business Strategies and Development
- 10.3.6. Alcon, Inc.
  - 10.3.6.1. Company Overview
  - 10.3.6.2. Product Portfolio
  - 10.3.6.3. Financial Overview
  - 10.3.6.4. Business Strategies and Development
- 10.3.7. Topson, Corp
  - 10.3.7.1. Company Overview
  - 10.3.7.2. Product Portfolio
  - 10.3.7.3. Financial Overview
  - 10.3.7.4. Business Strategies and Development
- 10.3.8. CooperVision AG
  - 10.3.8.1. Company Overview
  - 10.3.8.2. Product Portfolio
  - 10.3.8.3. Financial Overview
  - 10.3.8.4. Business Strategies and Development
- 10.3.9. Johnson and Johnson
  - 10.3.9.1. Company Overview
  - 10.3.9.2. Product Portfolio
  - 10.3.9.3. Financial Overview
  - 10.3.9.4. Business Strategies and Development
- 10.3.10. Hoya Corporation
  - 10.3.10.1. Company Overview
  - 10.3.10.2. Product Portfolio
  - 10.3.10.3. Financial Overview
  - 10.3.10.4. Business Strategies and Development
- 10.3.11. Nidek Co. Ltd.
  - 10.3.11.1. Company Overview
  - 10.3.11.2. Product Portfolio
  - 10.3.11.3. Financial Overview
  - 10.3.11.4. Business Strategies and Development
- 10.3.12. VisionCare, Inc.
  - 10.3.12.1. Company Overview
  - 10.3.12.2. Product Portfolio
  - 10.3.12.3. Financial Overview
  - 10.3.12.4. Business Strategies and Development

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations