Ophthalmic Devices Market 2023: Growth Factors, Opportunities, Ongoing Trends and Key Players 2033 | PMR

Ophthalmic devices are the medical devices used in the identification and treatment of ocular defects or deficiencies and eye disorders. The increasing prevalence of eye disorders and vision loss are pushing the demand for ophthalmic devices worldwide.

The global ophthalmic devices market is projected for a moderate CAGR of 6.5% over the six-year forecast period, 2014-2020. The market revenues registered a value worth US$ 29.17 Bn in 2014, which is anticipated to reach US$ 42.68 Bn by the end of 2020.

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One of the key drivers of the ophthalmic devices market is the increasing prevalence of eye conditions. As the global population continues to age, the incidence of age-related eye conditions, such as cataracts and glaucoma, is expected to increase. This trend is expected to drive the demand for ophthalmic devices.

Another factor contributing to the growth of the ophthalmic devices market is the development of new technologies and products. In recent years, there have been numerous advances in the field, including the development of advanced diagnostic and surgical equipment, as well as the introduction of new materials, such as biodegradable and bioabsorbable materials, in ophthalmic devices. These innovations have made treatments more effective and have reduced the risk of complications.

Companies

  • Johnson & Johnson.
  • Essilor International.
  • Bausch & Lomb Incorporated.
  • Novartis AG.
  • HOYA CORPORATION.
  • Abbott Laboratories, Inc.

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Overall, the ophthalmic devices market is expected to continue to grow in the coming years, driven by the increasing prevalence of eye conditions and the development of new technologies and products.

Segment Analysis

Based on type, the global ophthalmic devices market is segmented into vision care devices, diagnostic devices, and surgery devices. The vision care devices segment is the largest segment and surgery devices is the fastest growing segment. Vision care devices have two key sub-segments, contact lenses and spectacle lenses.

Although spectacle lenses are more widely used, contact lenses will witness substantial growth through to 2020. The surgery devices segment is bifurcated into cataract surgery devices, glaucoma surgery devices, refractive error surgery devices, and vitreoretinal surgery devices. Cataract surgery devices however for the largest sub-segment.

The sub-segments of the diagnostic devices segment include optical coherence tomography scanners, fundus cameras, tonometers, ophthalmoscopes, retinoscope, pachymeter, wavefront aberrometers, corneal topographers, biometers, keratometers, visual field analyzers, specular microscopes, autorefractors, and ophthalmic ultrasound imaging systems.

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By Type

  • Vision care devices
  • Surgery devices
  • Diagnostic devices

By Vision Care Devices

  • Contact lenses
  • Spectacle lenses

By Surgery Devices

  • Cataract surgery devices
  • Glaucoma surgery devices
  • Refractive error surgery devices
  • Vitreoretinal surgery devices

By Diagnostic Devices

  • Optical coherence tomography (OCT) scanners
  • Fundus cameras
  • Slit lamps
  • Tonometers
  • Ophthalmoscopes
  • Retinoscope
  • Pachymeter
  • Wavefront aberrometers
  • Corneal topographers
  • Biometers
  • Keratometers
  • Visual field analyzers or perimeters
  • Specular microscopes
  • Autorefractors
  • Ophthalmic ultrasound imaging systems

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