What are the recent trends in market size and growth for the ophthalmic devices market?
The ophthalmic devices market size has grown rapidly in recent years. It will grow from $46.68 billion in 2024 to $51.75 billion in 2025 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to aging population, increasing eye diseases, regulatory changes, the expansion and improvement of healthcare infrastructure,.
The ophthalmic devices market size is expected to see strong growth in the next few years. It will grow to $70.64 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to rising diabetes rates, telemedicine and remote monitoring, emerging markets growth, minimally invasive surgery, advancements in genetics and personalized medicine. Major trends in the forecast period include artificial intelligence (AI) and machine learning, wearable technology, teleophthalmology, sustainable and eco-friendly devices, patient-centric care.
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How have varous drivers impacted the growth of the ophthalmic devices market?
The increasing incidence and prevalence of eye diseases are expected to contribute to the growth of the ophthalmic device market. Eye disorders such as age-related macular degeneration (AMD), glaucoma, and cataracts are becoming major causes of visual impairment and blindness globally. Ophthalmic devices play a crucial role in diagnosing, treating, and managing various eye disorders and conditions. For instance, in August 2024, according to the National Health Service, an public sector organization, in 2024, NHS-funded sight tests hit a record high of over 841,000, reflecting a 6.6% rise compared to 2023. The increasing incidence and prevalence of eye-related disorders is expected to drive the use of ophthalmic devices in the diagnosis and treatment of eye-related diseases.
What are the primary segments of the ophthalmic devices market?
The ophthalmic devices market covered in this report is segmented –
1) By Type: Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Vision Care Devices And Equipment: Eyeglasses, Contact Lenses, Low Vision Aids
2) By Cataract Surgery Devices And Equipment: Cataract Surgery Instruments, Cataract Surgery Implants (Intraocular Lenses), Cataract Surgery Devices (Phacoemulsification Systems)
3) By Refractive Surgery Devices And Equipment: LASIK Devices, SMILE Surgery Devices, PRK Surgery Devices
4) By Diagnostic And Monitoring Ophthalmic Devices And Equipment: Fundus Cameras, Optical Coherence Tomography (OCT) Scanners, Perimeters, Retinal Imaging Systems, Slit Lamps
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Which firms are leading the ophthalmic devices market?
Major companies operating in the ophthalmic devices market include 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, Rostec State Corporation, Alcon Inc., EssilorLuxottica, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Takeda Pharmaceuticals, AbbVie Inc., Otsuka Pharmaceutical Co. Ltd., Edwards Lifesciences Corp., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Veeva System Inc., Recipharm AB, Menicon Co. Ltd., Chengdu Kanghong Pharmaceutical, Bangladesh Export Import Company Limited, Glaukos Corporation, STAAR Surgical Company, Omeros Corporation, Aerie Pharmaceuticals Inc., Alimera Sciences Inc., Bora Pharmaceuticals Co. Ltd., Iridex.
What are the top industry trends projected to impact the ophthalmic devices market?
Technological advancements have emerged as a key trend gaining popularity in the ophthalmic devices market. Major companies operating in the market are focused on introducing new technologies such as automated and advanced platforms for improving diagnosis and treatment. For instance, in March 2022, Alcon, a Swiss-American pharmaceutical and medical device company, launched its Clareon family of intraocular lenses (IOLs) in the U.S. Clareon lenses feature a glistening-free IOL material. The lenses offer sharp, crisp vision with a proprietary edge that helps reduce glare and posterior capsular opacification.
What are the major regional insights for the ophthalmic devices market, and which region holds the top position?
North America was the largest region in the global ophthalmic devices market in 2023. Asia-Pacific was the second largest region in the global ophthalmic devices market. Africa. was the smallest region in the global ophthalmic devices market. The regions covered in the ophthalmic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Ophthalmic Devices Market Report 2025 Offer?
The ophthalmic devices market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Ophthalmology is a branch of medicine that focuses on the diagnosis, treatment, and prevention of diseases and disorders related to the eyes and visual system. Ophthalmic devices are used in the diagnosis and treatment of eye-related diseases. Ophthalmologists are medical doctors who specialize in eye care, including performing eye exams, prescribing corrective lenses, diagnosing eye conditions, and performing surgeries.
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