How much is the diagnostic and monitoring ophthalmic devices and equipment market worth, and how is it expected to expand?
The diagnostic and monitoring ophthalmic devices and equipment market size has grown strongly in recent years. It will grow from $5.22 billion in 2024 to $5.63 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to aging population, advances in ophthalmic imaging, prevalence of eye diseases, diabetes epidemic.
The diagnostic and monitoring ophthalmic devices and equipment market size is expected to see steady growth in the next few years. It will grow to $6.78 billion in 2029 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to emerging markets growth, telemedicine and teleophthalmology, value-based healthcare, regulatory support and reimbursement. Major trends in the forecast period include artificial intelligence (ai) integration, portable and handheld devices, home monitoring solutions, 3d and wide-field imaging.
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Which industry factors have accelerated the diagnostic and monitoring ophthalmic devices and equipment market’s expansion?
The increasing incidence of diabetes is expected to propel the growth of diagnostic and monitoring equipment in the ophthalmic devices market going forward. Diabetes is a chronic disease that occurs when the body cannot effectively use or produce enough insulin, a hormone that regulates blood sugar levels. Diagnostic and monitoring equipment in ophthalmic devices such as smart contact lenses can be used for both continuous glucose monitoring and the treatment of diabetic retinopathy. They can wirelessly monitor glucose levels and provide real-time data to the user. For instance, in March 2024, according to the Office for Health Improvement & Disparities, a UK-based government department, between March 2022 and March 2023, the percentage of individuals with type 1 diabetes receiving all eight recommended care processes increased by 22%, and for type 2 diabetes, it increased by 21%, while the percentage achieving target HbA1c levels rose to 37.9%, the highest value ever reported by the National Diabetes Audit (NDA). Thus, the increasing incidence of diabetes is driving the growth of the diagnostic and monitoring equipment in the ophthalmic devices market.
What are the primary segments of the diagnostic and monitoring ophthalmic devices and equipment market?
The diagnostic and monitoring ophthalmic devices and equipment market covered in this report is segmented –
1) By Product Type: Optical Coherence Tomographers, Ophthalmic Ultrasound Imaging Systems, Fundus Cameras, Ophthalmoscopes, Keratometers, Specular Microscopes., Tonometers, Slit Lamps, Retinoscopes, Other Products
2) By Application: Retinal Evaluation, Glaucoma Detection And Monitoring, Surgical Evaluation, General Examine, Intraoperative Devices, Refraction Equipment
3) By End User: Hospitals, Clinics, Diagnostic Laboratories, Research Centers
Subsegments:
1) By Optical Coherence Tomographers: Time-Domain OCT (TD-OCT), Spectral-Domain OCT (SD-OCT), Swept-Source OCT (SS-OCT)
2) By Ophthalmic Ultrasound Imaging Systems: B-Scan Ultrasound, A-Scan Ultrasound, Pachymetry Ultrasound
3) By Fundus Cameras: Digital Fundus Cameras, Non-Mydriatic Fundus Cameras, Mydriatic Fundus Cameras, Wide-Field Fundus Cameras
4) By Ophthalmoscopes: Direct Ophthalmoscopes, Indirect Ophthalmoscopes
5) By Keratometers: Manual Keratometers, Automated Keratometers
6) By Specular Microscopes: Contact Specular Microscopes, Non-Contact Specular Microscopes
7) By Tonometers: Applanation Tonometers, Non-Contact Tonometers, Indentation Tonometers, Rebound Tonometers
8) By Slit Lamps: Manual Slit Lamps, Digital Slit Lamps, Portable Slit Lamps
9) By Retinoscopes: Handheld Retinoscopes, Tabletop Retinoscopes
10) By Other Products: Dioptometers, Optotype Projector, Perimeters (Static Perimeters, Kinetic Perimeters), Biometers (Optical Biometers, Ultrasound Biometers), Pachymeters, Autorefractors Or Phoropters, Corneal Topographers, Wavefront Aberrometers
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Which firms are leading the diagnostic and monitoring ophthalmic devices and equipment market?
Major companies operating in the diagnostic and monitoring ophthalmic devices and equipment market include Carl Zeiss Meditec, Alcon Inc., Bausch + Lomb, Haag-Streit, Topcon Corporation, Nidek Co. Ltd., Abbott Medical Optics, Johnson and Johnson Vision Care, Essilor International S.A, Ziemer Ophthalmic Systems AG, STAAR Surgical Company, Ellex, Quantel Medical Inc, Optovue, Canon Inc., Halma plc, Coburn Technologies Inc., Kowa Company Ltd., AMETEK Inc., AbbVie Inc., Hoya Corporation, Ridex Corporation, CIBA Vision Corporation, CooperVision, Gulden Ophthalmics, Glaukos Corporation, FCI Ophthalmics, Matronix India Corporation, HEINE Optotechnik, Visionix Ltd., Neo Vision, Clear Lab, Appasamy Associates, Ophtec BV, Lumenis, Intuvision Labs, Ocular Instruments, Ophthalmic Instruments Company, Keeler Ltd., Oculus, Reichert Technologies, Tomey Corporation, US Ophthalmic
What are the top industry trends projected to impact the diagnostic and monitoring ophthalmic devices and equipment market?
Major companies operating in the diagnostic and monitoring equipment in the ophthalmic devices market are developing innovative products such as Smart contact lenses by using smart soft contact lens technology to better serve patients. Smart soft contact lens technology is a recent development that enables the continuous 24-hour monitoring of intraocular pressure (IOP) in glaucoma care. For instance, in January 2023, BVS Sight Inc., a US-based company launched Smart contact lenses by using smart soft contact lens technology. Smart soft contact lenses are built upon various commercial brands of soft contact lenses without altering their intrinsic properties such as lens power, biocompatibility, softness, transparency, wettability, oxygen transmissibility, and overnight wearability.
Which geographic trends are shaping the diagnostic and monitoring ophthalmic devices and equipment market, and which region has the highest market share?
North America was the largest region in the global diagnostic and monitoring ophthalmic devices and equipment market in 2023. Asia-Pacific was the second-largest region in diagnostic and monitoring ophthalmic devices and equipment market. The regions covered in the diagnostic and monitoring ophthalmic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Diagnostic And Monitoring Ophthalmic Devices And Equipment Market Report 2025 Offer?
The diagnostic and monitoring ophthalmic devices and equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Diagnostic and monitoring ophthalmic devices and equipment are used for the diagnosis and monitoring of diseases related to the retina and cornea by measuring affix lenses and refractive errors. These devices also help identify the intraocular lenses (IOLs) and analyze the visual field.
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