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In 2022, the Ophthalmic Equipment Market Size was estimated to be worth USD 45.16 billion. The market for ophthalmic equipment is anticipated to increase from 48.29 billion dollars in 2023 to 71.89 billion dollars in 2030, with a compound yearly growth rate (CAGR) of 7.1% over the forecast period (2023 - 2030). The market growth can be attributed to the rise in prevalence of optical diseases such glaucoma, cataracts, diabetic retinopathy, and vitreoretinal disorders as well as technological advancements in the instruments required for these target applications. Additionally, it is anticipated that expanded government efforts to increase public awareness of vision impairment will broaden the basis for market expansion, propelling the Ophthalmic Equipment market. Just a handful of the major drivers that are influencing the market are listed above.
The number of elderly people has significantly increased over time, which has led to an increase in the prevalence of age-related diseases, including numerous eye illnesses. This is a significant driver of ophthalmology device demand. The tear layer loses stability and degrades more quickly as people age; as a result, the chance of developing severe eye problems rises noticeably with age, especially beyond 60. Elderly adults have an increased chance of developing severe eye conditions like age-related macular degeneration, cataracts, impaired vision, glaucoma, and diabetic eye disease. They also tend to have some sort of eye disease.
Although today's eye procedures are safe, there are still some dangers involved. If a patient already has a vision condition or other health issues, some issues could arise that could make the patient's rehabilitation more difficult. Despite the low likelihood of risk and problems leading to vision loss, some side effects do exist, most notably dry eyes and brief visual disturbances. Dry eyes are a temporary side effect of LASIK surgery; if they are severe, another technique can be used to treat them. Glare, halos, and double vision may appear after surgery, and astigmatism due to unequal tissue removal may also result during LASIK. Additionally expensive are LASIK eye operations. The cost varies according to the area, the hospital, and the kind of surgery chosen. In India, LASIK for both eyes costs between USD 2,000 and USD 2,500.The cost of LASIK eye surgery ranges from USD 1,500 to USD 3,000 per eye in the US and from USD 1,280 to USD 3,800 per eye in the UK. Fewer people choose to have these surgeries as a result of the high cost, which is anticipated to limit the market growth for ophthalmic equipment.
Ophthalmology is the study of the structure, operation, and numerous eye diseases. Medical technology utilized in surgery, diagnosis, and vision therapy includes ophthalmic gadgets. These devices are growing in significance and usage as a result of the increasing prevalence of a number of ophthalmic ailments like glaucoma, cataracts, and other issues relating to vision. The market is expected to grow more quickly as a result of quick technology developments like the introduction of intraocular lenses and a growing emphasis on consumer education and training among eye care providers regarding eye illnesses and associated consequences. The market for ophthalmic devices is also anticipated to grow as a result of rising consumer awareness of ophthalmology-related products and the widespread usage of digital devices including smartphones, laptops, desktops, and e-readers.
The need for ophthalmic devices is increasing as the senior population expands and becomes increasingly susceptible to age-related eye diseases. According to the National Institute on Aging (NIA), there will be 72 million older persons in the world by 2030. It is projected that the prevalence of diabetes and the frequency of diabetes-related blindness will propel market expansion. According to the World Health Organization, the majority of the almost 422 million diabetics worldwide reside in low- and middle-income countries.
The COVID-19 pandemic lockdown measures have increased screen time, which has been related to the emergence and progression of a number of eye conditions and raised the demand for eye tests. with June 2020, Johnson & Johnson Vision donated USD 320 K to assist Covid 19 patients with getting eye care. The American Academy of Optometry Foundation (AAOF) and the Optometry Cares section of the American Optometric Association (AOA) Foundation each received this grant. As a result, this element is fueling the market CAGR.
Report Coverage
Global Ophthalmic Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ophthalmic Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ophthalmic Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ophthalmic Equipment market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ophthalmic Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ophthalmic Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Novartis, Valeant Pharmaceuticals, Nidek, Essilor, Ziemer Ophthalmic Systems, Sonomed Escalon, Gulden Ophthalmics, Bausch Health Companies, Inc. (Canada), Alcon (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson and Johnson (US), Hoya Corporation (Japan), The Cooper Companies, Inc. (US), EssilorLuxottica (France), Canon (Japan), Glaukos Corporation (US), Nidek Co., Ltd. (Japan), Topcon Corporation (Japan), Zeimer Ophthalmic Systems (Switzerland), Staar Surgical (US), Haag-Streit (Switzerland), Quantel Medical (US), Coburn Technologies, Inc. (US), FCI Ophthalmics (US), Matronix India Corporation (India), HEINE Optotechnik (Germany), Visionix (France), Neo Vision (Korea), Clear Lab (Singapore), Appasamy Associates (India), Ophtec BV (Netherlands), Lumenis (Israel), and Intuvision Labs (India).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ophthalmic Equipment market based on the below-mentioned segments:
Global Ophthalmic Equipment Market, By Product
Ophthalmology Surgical Devices
Vitreoretinal Surgical Devices
Refractive Surgical Devices
Diagnostic & Monitoring Devices
Global Ophthalmic Equipment market, By Application
Glaucoma
Amblyopia
Cataract
Retinal detachment
Others
Global Ophthalmic Equipment Market, By End User
Ophthalmology Clinics
Hospitals
Diagnostic center
Global Ophthalmic Equipment market, Regional Analysis
The number of elderly people has significantly increased over time, which has led to an increase in the prevalence of age-related diseases, including numerous eye illnesses. This is a significant driver of ophthalmology device demand. The tear layer loses stability and degrades more quickly as people age; as a result, the chance of developing severe eye problems rises noticeably with age, especially beyond 60. Elderly adults have an increased chance of developing severe eye conditions like age-related macular degeneration, cataracts, impaired vision, glaucoma, and diabetic eye disease. They also tend to have some sort of eye disease.
Although today's eye procedures are safe, there are still some dangers involved. If a patient already has a vision condition or other health issues, some issues could arise that could make the patient's rehabilitation more difficult. Despite the low likelihood of risk and problems leading to vision loss, some side effects do exist, most notably dry eyes and brief visual disturbances. Dry eyes are a temporary side effect of LASIK surgery; if they are severe, another technique can be used to treat them. Glare, halos, and double vision may appear after surgery, and astigmatism due to unequal tissue removal may also result during LASIK. Additionally expensive are LASIK eye operations. The cost varies according to the area, the hospital, and the kind of surgery chosen. In India, LASIK for both eyes costs between USD 2,000 and USD 2,500.The cost of LASIK eye surgery ranges from USD 1,500 to USD 3,000 per eye in the US and from USD 1,280 to USD 3,800 per eye in the UK. Fewer people choose to have these surgeries as a result of the high cost, which is anticipated to limit the market growth for ophthalmic equipment.
Ophthalmology is the study of the structure, operation, and numerous eye diseases. Medical technology utilized in surgery, diagnosis, and vision therapy includes ophthalmic gadgets. These devices are growing in significance and usage as a result of the increasing prevalence of a number of ophthalmic ailments like glaucoma, cataracts, and other issues relating to vision. The market is expected to grow more quickly as a result of quick technology developments like the introduction of intraocular lenses and a growing emphasis on consumer education and training among eye care providers regarding eye illnesses and associated consequences. The market for ophthalmic devices is also anticipated to grow as a result of rising consumer awareness of ophthalmology-related products and the widespread usage of digital devices including smartphones, laptops, desktops, and e-readers.
The need for ophthalmic devices is increasing as the senior population expands and becomes increasingly susceptible to age-related eye diseases. According to the National Institute on Aging (NIA), there will be 72 million older persons in the world by 2030. It is projected that the prevalence of diabetes and the frequency of diabetes-related blindness will propel market expansion. According to the World Health Organization, the majority of the almost 422 million diabetics worldwide reside in low- and middle-income countries.
The COVID-19 pandemic lockdown measures have increased screen time, which has been related to the emergence and progression of a number of eye conditions and raised the demand for eye tests. with June 2020, Johnson & Johnson Vision donated USD 320 K to assist Covid 19 patients with getting eye care. The American Academy of Optometry Foundation (AAOF) and the Optometry Cares section of the American Optometric Association (AOA) Foundation each received this grant. As a result, this element is fueling the market CAGR.
Report Coverage
Global Ophthalmic Equipment research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ophthalmic Equipment report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ophthalmic Equipment competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ophthalmic Equipment market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Novartis, Valeant Pharmaceuticals, Nidek, Essilor, Ziemer Ophthalmic Systems, Sonomed Escalon, Gulden Ophthalmics, Bausch Health Companies, Inc. (Canada), Alcon (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson and Johnson (US), Hoya Corporation (Japan), The Cooper Companies, Inc. (US), EssilorLuxottica (France), Canon (Japan), Glaukos Corporation (US), Nidek Co., Ltd. (Japan), Topcon Corporation (Japan), Zeimer Ophthalmic Systems (Switzerland), Staar Surgical (US), Haag-Streit (Switzerland), Quantel Medical (US), Coburn Technologies, Inc. (US), FCI Ophthalmics (US), Matronix India Corporation (India), HEINE Optotechnik (Germany), Visionix (France), Neo Vision (Korea), Clear Lab (Singapore), Appasamy Associates (India), Ophtec BV (Netherlands), Lumenis (Israel), and Intuvision Labs (India). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Ophthalmic Equipment Market from 2021 to 2030.
- Market Forecast for Ophthalmic Equipment Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Ophthalmic Equipment competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Ophthalmic Equipment
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ophthalmic Equipment market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ophthalmic Equipment market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Novartis, Valeant Pharmaceuticals, Nidek, Essilor, Ziemer Ophthalmic Systems, Sonomed Escalon, Gulden Ophthalmics, Bausch Health Companies, Inc. (Canada), Alcon (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson and Johnson (US), Hoya Corporation (Japan), The Cooper Companies, Inc. (US), EssilorLuxottica (France), Canon (Japan), Glaukos Corporation (US), Nidek Co., Ltd. (Japan), Topcon Corporation (Japan), Zeimer Ophthalmic Systems (Switzerland), Staar Surgical (US), Haag-Streit (Switzerland), Quantel Medical (US), Coburn Technologies, Inc. (US), FCI Ophthalmics (US), Matronix India Corporation (India), HEINE Optotechnik (Germany), Visionix (France), Neo Vision (Korea), Clear Lab (Singapore), Appasamy Associates (India), Ophtec BV (Netherlands), Lumenis (Israel), and Intuvision Labs (India).
Primary Target Market
- Market Players of Ophthalmic Equipment
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ophthalmic Equipment market based on the below-mentioned segments:
Global Ophthalmic Equipment Market, By Product
Ophthalmology Surgical Devices
Vitreoretinal Surgical Devices
Refractive Surgical Devices
Diagnostic & Monitoring Devices
Global Ophthalmic Equipment market, By Application
Glaucoma
Amblyopia
Cataract
Retinal detachment
Others
Global Ophthalmic Equipment Market, By End User
Ophthalmology Clinics
Hospitals
Diagnostic center
Global Ophthalmic Equipment market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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