The ophthalmic surgical devices market is witnessing significant growth, with the cataract surgery devices segment emerging as the dominant player. This report provides a detailed analysis of the market dynamics, trends, and growth prospects, focusing on the period from 2020 to 2027. Ophthalmology is a branch of medical science that deals with the structure, function, and various eye diseases. Ophthalmic devices are medical equipment designed for diagnosis, surgery, and vision correction. These devices are gaining increased importance and adoption due to surge in prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision-related issues.
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Market Analysis:
Dominance of Cataract Surgery Devices:
The cataract surgery devices segment has emerged as the frontrunner in the ophthalmic surgical devices market. With advancements in technology and an aging population contributing to the rise in cataract cases, the demand for innovative surgical devices has surged. This segment’s dominance is expected to continue, driven by factors such as increasing prevalence of cataract and growing adoption of minimally invasive surgical procedures.
Market Size and Growth Projection:
In 2019, the ophthalmic surgical devices market was valued at $$$ billion, with the cataract surgery devices segment accounting for the majority share. The global ophthalmic devices market was valued at $32,534.0 million in 2019, and is projected to reach $44,865.0 million by 2027, registering a CAGR of 4.0 % from 2020 to 2027. This growth can be attributed to technological advancements, rising healthcare expenditure, and expanding geriatric population worldwide.
The growth of the global ophthalmic devices market is majorly driven by rise in adoption of digital devices, including laptops, smartphones, and computers, e-readers; rapid technological advancements in ophthalmic devices such as intraocular lenses (IOLs) coupled with increasing focus on customer training and education for the use of ophthalmic devices which would help in building the staff skills; and surge in awareness related to devices used in ophthalmology. However, low awareness regarding eye-related diseases and dearth of skilled professionals are expected to hamper the growth of the market. Also, emerging countries such as China, India and other Asia-Pacific countries possess high growth potential, owing to the improving healthcare infrastructures in these countries.
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Based on product function, the report segments the global ophthalmic devices market into ophthalmic surgical devices, diagnostic devices, and vision care devices. The ophthalmic surgical devices segment is further categorized into refractive error surgical devices, glaucoma surgical devices, cataract surgical devices, and vitreoretinal surgical devices. The cataract surgery devices segment dominated the ophthalmic surgical devices market in 2019, and is expected to reach $5,219.6 by 2017, registering a CAGR of 3.9% from 2020 to 2027.
List of Key Players Profiled in the Report:
Novartis AG
Carl Zeiss Meditec AG
Essilor International S.A.
HAAG-Streit Holding AG
Johnson & Johnson
Nidek Co., Ltd.
Topcon Corporation
Valeant Pharmaceuticals International, Inc.
Ziemer Ophthalmic Systems AG
Hoya Corporation
List of Other Players in the Value Chain (profiles not included in the report):
Sonomed Escalon
Gulden Ophthalmics
FCI Ophthalmics
Glaukos Corporation
STAAR Surgical GE Healthcare (U.K.)
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The ophthalmic diagnostic devices segment is sub segmented into refractors, corneal topography systems, retinal ultrasound systems, fundus camera, ophthalmoscopes, optical coherence tomography systems, perimeters, slit lamps, and tonometer. The retinal ultrasound segment is expected to reach $3,286.6 by 2027, registering a CAGR of 4.4% from 2020 to 2027.
The vision care devices segment is bifurcated into contact lenses and spectacle lenses. The spectacle leases segment is expected to reach $12,669 by 2027, registering a CAGR of 3.6% from 2020 to 2027.
On a regional level, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The North America ophthalmic devices market accounted for the largest share; however, the Asia-Pacific region is anticipated to grow with the highest CAGR of 4.5% during the forecast period.
Unique Content in Market Analysis:
Emerging Trends in Refractive Surgery Devices:
While cataract surgery devices dominate the market, there is a growing interest in refractive surgery devices. The increasing demand for vision correction procedures, coupled with technological innovations in laser technology and implantable lenses, is driving the growth of this segment. With more patients opting for refractive surgeries to reduce dependency on glasses or contact lenses, manufacturers are investing in developing advanced devices to meet the evolving needs of consumers.
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Key Benefits for Stakeholders:
Gain insights into the global ophthalmic devices market size, current trends, and future estimations to identify investment opportunities.
Access market analysis spanning from 2020 to 2027, enabling stakeholders to capitalize on prevailing market opportunities.
Comprehensive regional analysis aids in understanding regional markets and facilitates strategic business planning to exploit prevailing opportunities.
Thorough analysis of key players’ profiles and growth strategies provides insights into the competitive outlook of the global ophthalmic devices market.
Key Market Segments:
By Product Function:
Ophthalmic Surgical Devices
Refractive Error Surgical Devices
Glaucoma Surgical Devices
Cataract Surgery Devices
Vitreoretinal Surgical Devices
Ophthalmic Diagnostic Devices
Refractors
Corneal Topography Systems
Retinal Ultrasound Systems
Fundus Camera
Ophthalmoscopes
Optical Coherence Tomography Systems
Perimeters
Slit Lamps
Tonometers
Ophthalmic Vision Care Devices
Contact Lenses
Spectacle Lenses
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By Region:
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Table of Content:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
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Questions & Answers Market Research/Analysis Report Contains to your following:
What is the current size of the market and how is it expected to grow in the future?
What are the key drivers influencing market growth?
What are the major challenges or constraints faced by market participants?
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Who are the major competitors in the market and what is their market share?
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Report Objectives:
Thoroughly analyze and forecast the market size by both value and volume.
Estimate the market shares of key segments within the industry.
Highlight the market’s progress in different regions across the globe.
Study micro-markets to understand their contributions, prospects, and individual growth trajectories.
Provide detailed insights into factors influencing sales growth over the forecast period.
Offer a meticulous analysis of major business strategies employed by leading companies in the market, including research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.
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