Global Ophthalmic Devices Market by Product (Glaucoma Surgery Devices, Pachymeter Ophthalmoscope, Refractive Error Surgery Devices, Cataract & Vitreoretinal Surgery Devices, Tonometer, Biometer, Autorefractor, Fundus Camera, Surgical Instruments, Diagnostics & Monitoring Devices, Spectacle Lenses, Vision Care Products, Contact Lenses, Retinoscope, Optical Coherence Tomography Scanner) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028
Industry Insights
Global ophthalmic device market was worth USD 31.2 billion in 2015. It is expected to grow at a CAGR exceeding 6.0% during the forecast period. Over the forecast period, the market for ophthalmic products is expected to grow due to the rising incidence of eye diseases such as macular degeneration, glaucoma and cataracts.
The increased demand for diagnostic and surgical instruments in these targeted applications is expected to boost the growth of the market for ophthalmic products. Geriatrics are becoming more vulnerable to developing eye diseases and the population is growing. This will further increase the market for ophthalmic products.
North America's market share for ophthalmic products, product-wise, 2013-2024 (USD Million).
The rise of minimally invasive technologically advanced surgeries such as LASIK surgery is expected to increase the demand for ophthalmic equipment during the forecast period. This equipment will be used more frequently for advanced surgical procedures like multi-wavelength diabetic retina treatment, ultrasound phacoemulsification and femtosecond las surgery.
These surgeries result in better patient outcomes, including faster recovery rates, greater acceptance for refractive surgery, and a safer profile. These factors are expected to increase the demand for ophthalmic equipment over the forecast period.
Product Insights
In 2015, the vision care segment held a significant market share of more than 78.0%. This is due to increasing use of contact lenses and spectacles as well as the growing number of opticians, retail chains, optometrists and opticians providing vision care services for the consumer base.
In 2015, the sub-segment of spectacle lenses accounted for a significant portion of the vision care segment's 51.0% share. As a result of rising incidence of stress-induced eye diseases, the sub-segment of spectacle lenses held a substantial share of over 51.0% of the vision care segment in 2015.
Over the forecast period, diagnostics and monitoring will see a profitable CAGR of more than 7.0%. The availability of many diagnostic tools and the large number of optometrists who offer clinical services for a variety of ocular conditions can explain this growth. The diagnosis of eye disorders is an essential process in the treatment. This contributes to the monitoring and diagnostics of segment growth.
Regional Insights
North America held an impressive share of the global ophthalmic device market in 2015 with a 36.0% share. Diabetes retinopathy is a major driver for the industry due to the rapidly increasing geriatric population and the rise in chronic eye conditions caused by high stress and unhealthy lifestyles.
The region's adoption of new reimbursement models and strict regulatory frameworks that aim to ensure patient safety will drive demand for ophthalmic equipment. The Patient Protection and Affordable Patient Care and Affordable Care Act (PPACA), and Medicare Shared Savings program cater to the ophthalmic requirements of the local patient population.
Due to rapidly improving healthcare infrastructure, increasing prevalence of eye conditions such as glaucoma and increased awareness among patients, the Asia Pacific market for ophthalmic products is expected to grow at 7.0% CAGR over the forecast period.
This growth can be attributed in part to Alcon, Inc.'s increasing outsourcing of ophthalmology device manufacturing. The awareness of advanced corrective vision therapies is another key growth driver for emerging economies like India and China.
Competitive Market Insights
The market leaders in ophthalmic device sales include Abbott Medical Optics, Inc., Carl Zeiss Meditec AG, Alcon, Inc., Bausch & Lomb, Inc., Haag-Streit, Topcon Corporation, Johnson & Johnson, Essilor, Ziemer Ophthalmic Systems AG, Nidek Co. Ltd.
To capture more of the market, these industry leaders are engaging in strategies such as product launches, mergers and acquisitions, and geographic expansions. Alcon, Inc. formed a strategic partnership in April 2016 with PowerVision, Inc., whose focus was on fluid-based implant development. The company was able to expand its product range and gain greater industry share. These companies also use high R&D investment strategies to expand their product portfolio.
Up Market Research published a new report titled “Ophthalmic Devices Market research report which is segmented by Product (Glaucoma Surgery Devices, Pachymeter Ophthalmoscope, Refractive Error Surgery Devices, Cataract & Vitreoretinal Surgery Devices, Tonometer, Biometer, Autorefractor, Fundus Camera, Surgical Instruments, Diagnostics & Monitoring Devices, Spectacle Lenses, Vision Care Products, Contact Lenses, Retinoscope, Optical Coherence Tomography Scanner), By Players/Companies Inc, Essilor International SA, Alcon, Inc, Carl Zeiss Meditec AG, Johnson & Johnson, Nidek Co Ltd, Haag-Streit, Inc, Topcon Corporation, Ziemer Ophthalmic Systems AG, Abbott Medical Optics, Bausch & Lomb”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Scope
Report Attributes | Report Details |
Report Title | Ophthalmic Devices Market Research Report |
By Product | Glaucoma Surgery Devices, Pachymeter Ophthalmoscope, Refractive Error Surgery Devices, Cataract & Vitreoretinal Surgery Devices, Tonometer, Biometer, Autorefractor, Fundus Camera, Surgical Instruments, Diagnostics & Monitoring Devices, Spectacle Lenses, Vision Care Products, Contact Lenses, Retinoscope, Optical Coherence Tomography Scanner |
By Companies | Inc, Essilor International SA, Alcon, Inc, Carl Zeiss Meditec AG, Johnson & Johnson, Nidek Co Ltd, Haag-Streit, Inc, Topcon Corporation, Ziemer Ophthalmic Systems AG, Abbott Medical Optics, Bausch & Lomb |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 237 |
Number of Tables & Figures | 166 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
Global Ophthalmic Devices Market Report Segments:
The market is segmented by Product (Glaucoma Surgery Devices, Pachymeter Ophthalmoscope, Refractive Error Surgery Devices, Cataract & Vitreoretinal Surgery Devices, Tonometer, Biometer, Autorefractor, Fundus Camera, Surgical Instruments, Diagnostics & Monitoring Devices, Spectacle Lenses, Vision Care Products, Contact Lenses, Retinoscope, Optical Coherence Tomography Scanner).
Ophthalmic Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Ophthalmic Devices Market
Overview of the regional outlook of the Ophthalmic Devices Market:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
Highlights of The Ophthalmic Devices Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of Ophthalmic Devices Market.
- Historical data and forecast.
- Estimations for the forecast period 2028.
- Developments and trends in the market.
1. Glaucoma Surgery Devices
2. Pachymeter Ophthalmoscope
3. Refractive Error Surgery Devices
4. Cataract & Vitreoretinal Surgery Devices
5. Tonometer
6. Biometer
7. Autorefractor
8. Fundus Camera
9. Surgical Instruments
10. Diagnostics & Monitoring Devices
11. Spectacle Lenses
12. Vision Care Products
13. Contact Lenses
14. Retinoscope
15. Optical Coherence Tomography Scanner
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Ophthalmic Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
Reasons to Purchase the Ophthalmic Devices Market Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
- Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
- Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
- Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Ophthalmic Devices Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Ophthalmic Devices Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Ophthalmic Devices Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Ophthalmic Devices Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Ophthalmic Devices Market Size & Forecast, 2018-2028
4.5.1 Ophthalmic Devices Market Size and Y-o-Y Growth
4.5.2 Ophthalmic Devices Market Absolute $ Opportunity
Chapter 5 Global Ophthalmic Devices Market Analysis and Forecast by Product
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Product
5.1.2 Basis Point Share (BPS) Analysis by Product
5.1.3 Absolute $ Opportunity Assessment by Product
5.2 Ophthalmic Devices Market Size Forecast by Product
5.2.1 Glaucoma Surgery Devices
5.2.2 Pachymeter Ophthalmoscope
5.2.3 Refractive Error Surgery Devices
5.2.4 Cataract & Vitreoretinal Surgery Devices
5.2.5 Tonometer
5.2.6 Biometer
5.2.7 Autorefractor
5.2.8 Fundus Camera
5.2.9 Surgical Instruments
5.2.10 Diagnostics & Monitoring Devices
5.2.11 Spectacle Lenses
5.2.12 Vision Care Products
5.2.13 Contact Lenses
5.2.14 Retinoscope
5.2.15 Optical Coherence Tomography Scanner
5.3 Market Attractiveness Analysis by Product
Chapter 6 Global Ophthalmic Devices Market Analysis and Forecast by Region
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Region
6.1.2 Basis Point Share (BPS) Analysis by Region
6.1.3 Absolute $ Opportunity Assessment by Region
6.2 Ophthalmic Devices Market Size Forecast by Region
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East & Africa (MEA)
6.3 Market Attractiveness Analysis by Region
Chapter 7 Coronavirus Disease (COVID-19) Impact
7.1 Introduction
7.2 Current & Future Impact Analysis
7.3 Economic Impact Analysis
7.4 Government Policies
7.5 Investment Scenario
Chapter 8 North America Ophthalmic Devices Analysis and Forecast
8.1 Introduction
8.2 North America Ophthalmic Devices Market Size Forecast by Country
8.2.1 U.S.
8.2.2 Canada
8.3 Basis Point Share (BPS) Analysis by Country
8.4 Absolute $ Opportunity Assessment by Country
8.5 Market Attractiveness Analysis by Country
8.6 North America Ophthalmic Devices Market Size Forecast by Product
8.6.1 Glaucoma Surgery Devices
8.6.2 Pachymeter Ophthalmoscope
8.6.3 Refractive Error Surgery Devices
8.6.4 Cataract & Vitreoretinal Surgery Devices
8.6.5 Tonometer
8.6.6 Biometer
8.6.7 Autorefractor
8.6.8 Fundus Camera
8.6.9 Surgical Instruments
8.6.10 Diagnostics & Monitoring Devices
8.6.11 Spectacle Lenses
8.6.12 Vision Care Products
8.6.13 Contact Lenses
8.6.14 Retinoscope
8.6.15 Optical Coherence Tomography Scanner
8.7 Basis Point Share (BPS) Analysis by Product
8.8 Absolute $ Opportunity Assessment by Product
8.9 Market Attractiveness Analysis by Product
Chapter 9 Europe Ophthalmic Devices Analysis and Forecast
9.1 Introduction
9.2 Europe Ophthalmic Devices Market Size Forecast by Country
9.2.1 Germany
9.2.2 France
9.2.3 Italy
9.2.4 U.K.
9.2.5 Spain
9.2.6 Russia
9.2.7 Rest of Europe
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 Europe Ophthalmic Devices Market Size Forecast by Product
9.6.1 Glaucoma Surgery Devices
9.6.2 Pachymeter Ophthalmoscope
9.6.3 Refractive Error Surgery Devices
9.6.4 Cataract & Vitreoretinal Surgery Devices
9.6.5 Tonometer
9.6.6 Biometer
9.6.7 Autorefractor
9.6.8 Fundus Camera
9.6.9 Surgical Instruments
9.6.10 Diagnostics & Monitoring Devices
9.6.11 Spectacle Lenses
9.6.12 Vision Care Products
9.6.13 Contact Lenses
9.6.14 Retinoscope
9.6.15 Optical Coherence Tomography Scanner
9.7 Basis Point Share (BPS) Analysis by Product
9.8 Absolute $ Opportunity Assessment by Product
9.9 Market Attractiveness Analysis by Product
Chapter 10 Asia Pacific Ophthalmic Devices Analysis and Forecast
10.1 Introduction
10.2 Asia Pacific Ophthalmic Devices Market Size Forecast by Country
10.2.1 China
10.2.2 Japan
10.2.3 South Korea
10.2.4 India
10.2.5 Australia
10.2.6 South East Asia (SEA)
10.2.7 Rest of Asia Pacific (APAC)
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Asia Pacific Ophthalmic Devices Market Size Forecast by Product
10.6.1 Glaucoma Surgery Devices
10.6.2 Pachymeter Ophthalmoscope
10.6.3 Refractive Error Surgery Devices
10.6.4 Cataract & Vitreoretinal Surgery Devices
10.6.5 Tonometer
10.6.6 Biometer
10.6.7 Autorefractor
10.6.8 Fundus Camera
10.6.9 Surgical Instruments
10.6.10 Diagnostics & Monitoring Devices
10.6.11 Spectacle Lenses
10.6.12 Vision Care Products
10.6.13 Contact Lenses
10.6.14 Retinoscope
10.6.15 Optical Coherence Tomography Scanner
10.7 Basis Point Share (BPS) Analysis by Product
10.8 Absolute $ Opportunity Assessment by Product
10.9 Market Attractiveness Analysis by Product
Chapter 11 Latin America Ophthalmic Devices Analysis and Forecast
11.1 Introduction
11.2 Latin America Ophthalmic Devices Market Size Forecast by Country
11.2.1 Brazil
11.2.2 Mexico
11.2.3 Rest of Latin America (LATAM)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Latin America Ophthalmic Devices Market Size Forecast by Product
11.6.1 Glaucoma Surgery Devices
11.6.2 Pachymeter Ophthalmoscope
11.6.3 Refractive Error Surgery Devices
11.6.4 Cataract & Vitreoretinal Surgery Devices
11.6.5 Tonometer
11.6.6 Biometer
11.6.7 Autorefractor
11.6.8 Fundus Camera
11.6.9 Surgical Instruments
11.6.10 Diagnostics & Monitoring Devices
11.6.11 Spectacle Lenses
11.6.12 Vision Care Products
11.6.13 Contact Lenses
11.6.14 Retinoscope
11.6.15 Optical Coherence Tomography Scanner
11.7 Basis Point Share (BPS) Analysis by Product
11.8 Absolute $ Opportunity Assessment by Product
11.9 Market Attractiveness Analysis by Product
Chapter 12 Middle East & Africa (MEA) Ophthalmic Devices Analysis and Forecast
12.1 Introduction
12.2 Middle East & Africa (MEA) Ophthalmic Devices Market Size Forecast by Country
12.2.1 Saudi Arabia
12.2.2 South Africa
12.2.3 UAE
12.2.4 Rest of Middle East & Africa (MEA)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Middle East & Africa (MEA) Ophthalmic Devices Market Size Forecast by Product
12.6.1 Glaucoma Surgery Devices
12.6.2 Pachymeter Ophthalmoscope
12.6.3 Refractive Error Surgery Devices
12.6.4 Cataract & Vitreoretinal Surgery Devices
12.6.5 Tonometer
12.6.6 Biometer
12.6.7 Autorefractor
12.6.8 Fundus Camera
12.6.9 Surgical Instruments
12.6.10 Diagnostics & Monitoring Devices
12.6.11 Spectacle Lenses
12.6.12 Vision Care Products
12.6.13 Contact Lenses
12.6.14 Retinoscope
12.6.15 Optical Coherence Tomography Scanner
12.7 Basis Point Share (BPS) Analysis by Product
12.8 Absolute $ Opportunity Assessment by Product
12.9 Market Attractiveness Analysis by Product
Chapter 13 Competition Landscape
13.1 Ophthalmic Devices Market: Competitive Dashboard
13.2 Global Ophthalmic Devices Market: Market Share Analysis, 2019
13.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
13.3.1 Inc
13.3.2 Essilor International SA
13.3.3 Alcon
13.3.4 Inc
13.3.5 Carl Zeiss Meditec AG
13.3.6 Johnson & Johnson
13.3.7 Nidek Co Ltd
13.3.8 Haag-Streit
13.3.9 Inc
13.3.10 Topcon Corporation
13.3.11 Ziemer Ophthalmic Systems AG
13.3.12 Abbott Medical Optics
13.3.13 Bausch & Lomb