Ophthalmic Equipment Market Share, Size, Trends, Industry Analysis Report, By Product; By End-Use (Consumers, Hospitals, Specialty Clinics & Ambulatory Surgery Centers, Others); By Region; Segment Forecast, 2022 - 2030Vision care products accounted for the most considerable market share in 2021 due to increasing demand for spectacles and contact lenses such as soft contact lenses, RGP lenses, and hybrid contact lenses.The consumer segment accounted for the most significant market share in 2021 due to increasing ocular disorders with the rising adoption of contact lenses and spectacles.North America dominated the regional market during the forecast period due to the rising geriatric population, increasing healthcare expenditure, and awareness about eye care and ocular diseases in emerging economies such as the US and Canada.The global market is highly competitive owing to the existence of prominent industry players with a worldwide presence, including Alcon Vision LLC, Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, Essilor International S.A, Haag-Streit Group, Ivantis Inc., Johnson & Johnson Vision Care, Nidek Co. Ltd, TOPCON Corporation, and Ziemer Ophthalmic Systems Ltd.
The global ophthalmic equipment market size is expected to reach USD 92.4 billion by 2030, according to a new study by Polaris Market Research. The report “Ophthalmic Equipment Market Share, Size, Trends, Industry Analysis Report, By Product; By End-Use (Consumers, Hospitals, Specialty Clinics & Ambulatory Surgery Centers, Others); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growth of the ophthalmic device market is primarily driven by the growing geriatric population, increasing adoption of digital devices, and technological advances to enable efficient diagnosis and treatment. In addition, the demand for ophthalmic devices continues to accelerate due to increased incidences of vision loss and eye diseases.
Asia is the fastest-growing market for ophthalmic devices due to the rising number of eye surgeries, improved healthcare facilities in developing nations, and several government steps to control visual impairment. In addition, a rise in the number of new entrants with a strong local distribution network and constant technological advancement for product modifications collectively spurt the market growth in this region.
The rising adoption of contact lenses and spectacles and increased government initiatives to control visual disorders are supposed to stimulate the market’s growth. Additionally, the low penetration of phacoemulsification devices and premium IOLs in emerging economies provides many opportunities to the market players.
Covid-19 hampered the market due to the government’s stringent rules and regulations for social distancing, which led to decreased manufacturing of the equipment.
Ophthalmic Equipment Market Report Highlights
Polaris Market Research has segmented the ophthalmic equipment market report based on product, end-use, and region:
Ophthalmic Equipment, Product Outlook (Revenue – USD Billion, 2018 – 2030)Vision Care ProductsSpectaclesContact LensesSoft Contact LensesRigid Gas Permeable LensesHybrid Contact LensesSurgical DevicesCataract Surgical DevicesIntraocular LensesOphthalmic Viscoelastic DevicesPhacoemulsification DevicesCataract Surgical LasersIOL InjectorsVitreoretinal Surgical DevicesVitrectomy MachinesVitreoretinal PacksPhotocoagulation LasersIllumination DevicesVitrectomy ProbesRefractive Surgical DevicesFemtosecond LasersExcimer LasersOther Refractive Surgical LasersGlaucoma Surgical DevicesGlaucoma Drainage DevicesMicroinvasive Glaucoma Surgery DevicesGlaucoma Laser SystemsOphthalmic MicroscopesOphthalmic Surgical AccessoriesSurgical Instruments & KitsOphthalmic ForcepsOphthalmic SpatulasOphthalmic Tips & HandlesOphthalmic ScissorsMacular LensesOphthalmic CannulasOther Ophthalmic Surgical AccessoriesDiagnostic and Monitoring DevicesOptical Coherence Tomography ScannersFundus CamerasPerimeters/Visual Field AnalyzersAutorefractors & KeratometersOphthalmic Ultrasound Imaging SystemsA-ScanB-ScanUltrasound MicroscopesPachymetersTonometerSlit LampsPhoroptersWavefront AberrometersOptical Biometry SystemsOphthalmoscopesLens metersCorneal Topography SystemsChart ProjectorsSpecular MicroscopesRetinoscope
Ophthalmic Equipment, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)ConsumersHospitalsSpecialty Clinics & Ambulatory Surgery CentersOther
Ophthalmic Equipment, Regional Outlook (Revenue – USD Billion, 2018 – 2030)North AmericaU.SCanadaEuropeGermanyUKFranceItalySpainRussiaNetherlandsAsia PacificChinaIndiaJapanSouth KoreaIndonesiaMalaysiaLatin AmericaArgentinaBrazilMexicoMiddle East & AfricaUAESaudi ArabiaIsraelSouth Africa