Reports - Ophthalmic Devices Market
Ophthalmic Devices Market Size, Share & Trends Analysis Report by Product (Diagnostic and Monitoring Devices, Surgical Devices, Vision Care) by End User (Hospitals & Eye Clinics, Academic & Research Laboratory, Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Historic Data (2021 - 2023) & Forecast Period (2025 - 2035)
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USD 51.5 Billion
USD 89.9 Billion
5.2%
North America
Asia Pacific
2024
2021 - 2023
2025 - 2035
By Product, By End User, By Region
The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.
The global Ophthalmic Devices Market is valued at USD 51.5 Billion in 2024 and is projected to reach a value of USD 89.9 Billion by 2035 at a CAGR (Compound Annual Growth Rate) of 5.2% between 2025 and 2035.
North America Dominated Sales with a 41.5% share in 2024. The Ophthalmic Devices market growth in North America is driven by a large older population and the escalating prevalence of chronic eye conditions stemming from high stress and unhealthy lifestyles, ultimately leading to diabetic retinopathy. For instance, in 2021, an estimated 9.6 million people in the United States were living with diabetic retinopathy (D.R.), with 1.84 million of them living with vision-threatening D.R. The adoption of new reimbursement models for ophthalmologic treatments and a stringent regulatory framework aimed at patient safety are anticipated to stimulate product demand in the region further. A high disposable income, increasing awareness, a growing geriatric population, and the rising incidence of eye diseases, coupled with the introduction of newer products and devices, further fuel the market for Ophthalmic Devices.
The intensified focus of industry players on innovation and product launches fuels the markets trajectory. For instance, in March 2022, Alcons introduction of the Clareon family of intraocular lenses (IOLs) in the United States exemplifies this trend, offering consistent visual outcomes and exceptional clarity through advanced IOL material. Furthermore, recent regulatory approvals such as Lumenis Ltd.s De Novo authorization for their intense pulsed light device to address dry eye disease and WaveFront Dynamics Inc. announced the WaveDyn vision Analyzers commercial launch in March 2023. These kinds of programs aid in raising awareness of eye conditions and the accessibility of diagnostic tools, further underscoring the regions potential for market expansion and innovation.
The US Ophthalmic Devices market, valued at USD 22.3 Billion in 2024 to USD 32.85 Billion in 2035, is anticipated to grow at a CAGR of 4.4% from 2025 to 2035. The US has a strong healthcare system with top academic institutions and research facilities that encourages advancements in ophthalmic technology, such as minimally invasive surgical methods, sophisticated diagnostics, and tailored treatment strategies. Innovative environment and significant healthcare spending is expected to reach USD 6.8 trillion by 2030 and drive investment in specialist therapies and eye care equipment further aiding the market growth. However, the COVID-19 pandemic significantly impacted the U.S. Ophthalmic Devices market, with delayed consultations and restricted import/export affecting device availability. Neovascular Age-Related Macular Degeneration (AMD) eyes experienced vision loss due to postponed therapy, highlighting the pandemics consequences on eye care. For instance, Age-related macular degeneration is expected to affect 5.4 million Americans by 2050, according to the National Eye Institute, which highlights the rising need for ophthalmic equipment.
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The global Ophthalmic Devices market can be categorized as Product, End User and Region.
Parameter | Details |
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Segment Covered | By Product
By End User
By Region
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In 2024, Vision Care generated a significant revenue of 62.2%. The Product segment is divided into Diagnostic and Monitoring, Surgical, Accessories, and Vision Care. The vision care segment covers a broad spectrum of products and services targeting various visual impairments and promoting eye health. Vision Care includes prescription eyeglasses, contact lenses, and vision correction surgeries like LASIK and PRK. Its strong performance sustained demand for solutions enhancing visual acuity and quality of life across all age groups. A shift from traditional eyeglasses to contact lenses is driven by players' increased focus on launching new contact lens varieties. For instance, according to the CDC, approximately 45 million Americans were using contact lenses, indicative of a rising trend contributing to the vision care segments expansion.
The Hospitals & Eye Clinics segment held a significant market share of 78.5% in 2024. The End User segment covers Hospitals & Eye Clinics, Academic & Research Laboratory and Other sectors. The hospitals & eye clinics segment emerged as the largest in 2023, driven by the expanding adoption of ophthalmic devices in hospitals and the provision of cost-effective treatments in clinics. The surge in mergers and acquisitions between ophthalmic clinics and hospitals is anticipated to drive demand for new installations in the upcoming years. For instance, in June 2023, Eye-Q announced the installation of an advanced, customized LASIK equipment at their eye care center in Rewari, India revolutionizing laser vision correction and enhancing patient treatment. Furthermore, establishing separate diagnostic departments within eye clinics amplifies the demand for ophthalmic devices. Additionally, the proliferation of eye clinics offering affordable treatment options is projected to fuel market growth.
According to the WHO, approximately 2.2 billion people worldwide suffer from distance or near vision impairment, underscoring the need for ophthalmic devices to treat such disorders and correct refractive errors. Phoropters and retinoscopes are highly favored for these purposes. Major key players are focused on introducing advanced ophthalmic diagnosis and treatment devices to meet the demand for eye care treatment. Technological advancements, such as minimally invasive surgical (MIS) techniques and advanced diagnostic tools like optical coherence tomography (OCT), drive demand for innovative ophthalmic devices. Additionally, adopting telemedicine and remote monitoring solutions, particularly amid the COVID-19 pandemic, enhances accessibility and efficiency in eye care delivery.
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The Ophthalmic Devices market is driven by the increasing incidence of eye diseases, including glaucoma, cataracts, and macular degeneration
The aging population is more prone to age-related eye conditions. For instance, the World Health Organization projects that by 2030, 1 in 6 individuals will be 60 years of age or older worldwide, and there will be 2.1 billion people in this age group by 2050. It is also predicted that by 2050, there would be 3 times as many people 80 years of age or older—that is, 426 million people. Additionally, lifestyle factors like high stress, prolonged screen time, and unhealthy habits contribute to the rise in eye disorders. This increase in eye disorders drives the demand for advanced diagnostic tools, such as cataract, optical coherence tomography (OCT), and fundus photography, as well as treatments like laser surgeries and intraocular injections, thereby propelling growth in the Ophthalmic Devices market. For instance, WHO reports cataracts as the leading cause of blindness globally, with nearly 51% of all blindness cases attributed to this condition.
Lower adoption rates of advanced ophthalmic devices like phacoemulsification systems and premium IOLs, creating an opportunity for manufacturers in emerging regions
Factors such as cost constraints and limited access to specialized healthcare facilities present an opportunity for manufacturers to develop cost-effective solutions tailored to the specific needs of these regions. Manufacturers can tap into new markets by offering affordable yet high-quality devices and IOLs and drive growth in areas with untapped potential.
A significant challenge facing the Ophthalmic Devices market is the shortage of skilled professionals, particularly in emerging regions
The procedures like cataract surgeries and retinal treatments, as well as the appropriate use and maintenance of ophthalmic devices requires ophthalmologists, optometrists, and technicians. The adoption of advanced ophthalmic technologies and methods needs more trained/skilled professionals, limiting market growth potential. Investing in coaching and training programs is necessary to address this and build a team of professionals with the necessary skills to efficiently use cutting-edge ophthalmic technologies.
The competitive landscape of the Ophthalmic Devices market is highly competitive, featuring diverse global players and emerging firms from various regions and specialties. Key players such as Bausch Health Companies, Inc., Alcon, Johnson & Johnson, and EssilorLuxottica, alongside prominent innovators like Carl Zeiss Meditec AG, Glaukos Corporation, and Topcon Corporation, drive market dynamics through innovation, partnerships, and technological advancements. The markets vitality is increased by strategic acquisitions and partnerships between established companies and startups. Key players continue to provide safe and effective ophthalmic solutions while navigating the ever-changing healthcare landscape. These factors include regulatory compliance, product quality, and customer service. Sustained growth and leadership in this competitive field require ongoing innovation, market expansion strategies, and a focus on improving patient outcomes.
The key players in the global Ophthalmic Devices market include - EssilorLuxottica among others.
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