The global ophthalmic devices market size is expected to grow from $32.80 billion in 2021 to $36.22 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global ophthalmic device market size is then expected to grow to $50.70 billion in 2026 at a CAGR of 8.8%.
What is the Global Ophthalmic Devices Market?
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.
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What drives the Global Ophthalmic Devices Market?
The femtosecond laser is increasingly being used in cataract surgeries as it provides greater precision than traditional surgical methods which boosts the ophthalmic devices market growth. A femtosecond laser emits optical pulses with a duration of below 1 ps (ultrashort pulses), i.e., in the domain of femtoseconds (1 fs = 10-15 s). The medical procedure using this laser is done under computer-guided OCT imaging, hence there is higher control and reliability of the incisions concerning size, shape, and location, than conventional procedures. This process also reduces the risk associated with a human error during the surgery and has a shorter recovery period. Major companies manufacturing femtosecond laser ophthalmic equipment are Myalcon and Precision Lens.
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Global Ophthalmic Devices Market Segments
The global ophthalmic devices market is segmented:
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 regions covered in the ophthalmic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global ophthalmic devices market.
Ophthalmic Devices Global Market Report 2022provides market size and growth forecasts for the global ophthalmic devices market, global ophthalmic devices market share, ophthalmic devices market segments and geographies, ophthalmic devices market competitive landscape including 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.
Global Ophthalmic Devices Industry Playersinclude Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG, Bausch Health, Companies Inc., Carl Zeiss AG, Flex Ltd, Nidek Co. Ltd., Topcon Corporation, and Rostec State Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
