PUBLISHER: Meticulous Research | PRODUCT CODE: 1518379
PUBLISHER: Meticulous Research | PRODUCT CODE: 1518379
Ophthalmic Equipment Market Size, Share, Forecast, & Trends Analysis by Product Type (Vision Care, Surgical Devices {Refractive, Cataract, Vitreoretinal, Glaucoma}, Diagnostic {Retinoscope, Tonometer, Ultrasound}), End User - Global Forecast to 2030
The ophthalmic equipment market is projected to reach $61.58 billion by 2030 at a CAGR of 4.4% from 2023 to 2030.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report provides an analysis of key industry drivers, restraints, opportunities, and challenges.
The major factors driving the growth of this market are the growing prevalence of eye diseases and disorders like cataracts, glaucoma, obesity & diabetes, and Age-related Macular Degeneration (AMD), visual impairment due to the excessive use of digital devices, the rising geriatric population, and government initiatives and funding to improve access to eye care services. However, the high costs of ophthalmic devices and the increasing use of refurbished ophthalmic equipment are restraining the growth of this market.
The report offers a competitive landscape based on an extensive assessment of the product portfolios, geographic presence, and key strategic developments of leading market players during the last four years (2020-2023). The key players operating in the ophthalmic equipment market are Bausch Health Companies Inc. (Canada), Carl Zeiss Meditec AG (Germany), EssilorLuxottica (France), Alcon Inc. (U.S.), The Cooper Companies, Inc. (U.S.), Johnson & Johnson Vision Care, Inc. (U.S.), HEINE Optotechnik GmbH & Co. KG (Germany), Glaukos Corporation (U.S.), Ziemer Ophthalmic Systems AG (Switzerland), and Nidek Co., Ltd. (Japan).
Based on product type, in 2023, the vision care segment is expected to account for the largest share of the ophthalmic equipment market. The growing use of premium reusable lenses and daily disposable contact lenses, advancements in specialty lenses and increasing demand for multifocal, toric, and cosmetic lenses; the growing access to vision care products in developing countries like India and China; and increasing accessibility of vision care products through distribution models and direct-to-consumer channels, including internet sales are factors supporting this segment's large market share.
Based on end user in 2023, the consumer segment is expected to account for the largest share of the ophthalmic equipment market. The rising aging population and its growing eye care needs, improved quality of eye care, including vision correction, increasing purchasing power, and the rising prevalence of progressive myopia, myopia, and digital eye strain are prominent factors supporting this segment's large market share.
An in-depth analysis of the geographical scenario in the ophthalmic equipment market provides detailed qualitative and quantitative insights into five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. In 2023, North America is expected to account for the largest share of the ophthalmic equipment market. Further, in 2023, the U.S. is expected to account for the major share of the ophthalmic equipment market in North America. The large share of this market is primarily driven by the high prevalence of eye diseases and disorders, the presence of key players, and high awareness regarding vision care.
Ophthalmic Equipment Market Assessment-by Product Type
Ophthalmic Equipment Market Assessment-by End User
Ophthalmic Equipment Market Assessment-by Geography