Ophthalmic Devices Global Market To Reach Value Of About $42.78 Billion In 2025
22 Jan, 2021
The ophthalmic devices market consists of sales of ophthalmic devices and related services by entities (organizations, sole traders and partnerships) that produce ophthalmic devices used in the diagnosis and treatment of eye related diseases. The market is segmented into vision care devices and equipment; cataract surgery devices and equipment; refractive surgery devices and equipment; diagnostic and monitoring ophthalmic devices and equipment.
Global Ophthalmic Devices Market Size And Drivers:
The global ophthalmic devices market is expected to grow from $30.32 billion in 2020 to $34.33 billion in 2021 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $42.78 billion in 2025 at a CAGR of 6%.
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Trends In The Global Ophthalmic Devices Market
Robotic-assisted eye surgeries are being widely used by healthcare services organizations to improve treatment outcomes. Robot-assisted surgeries allow surgeons to perform complex eye operations with improved precision, amplified scale of motion, reduced tremor, task automation and flexibility.
Global Ophthalmic Devices Market Segments:
The global ophthalmic devices market is further segmented based on type, end-user, type of expenditure, product and geography.
By Type: Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment.
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others.
By Type of Expenditure: Public, Private.
By Product: Instruments/Equipment, Disposables
By Geography: The global ophthalmic devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America was the largest region in the global ophthalmic devices market, accounting for 44% of the total market.
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Ophthalmic Devices Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ophthalmic devices market overviews, analyzes and forecasts market size and growth for the global ophthalmic devices market, ophthalmic devices market share, ophthalmic devices market players, ophthalmic devices market segments and geographies, ophthalmic devices market’s leading competitors’ revenues, profiles and market shares. The ophthalmic devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.