PUBLISHER: Grand View Research | PRODUCT CODE: 1726273
PUBLISHER: Grand View Research | PRODUCT CODE: 1726273
The global ophthalmic devices market size is estimated to reach USD 29.80 billion by 2030, expanding at a CAGR of 7.7% from 2025 to 2030, according to a new report by Grand View Research, Inc. The rising geriatric population is presumed to propel the need for ophthalmic devices due to the high risk of developing chronic eye disorders. According to the National Institute on Aging (NIA), the geriatric population will be about 72 million individuals by 2030. The rising prevalence of eye disorders, such as macular degeneration, cataracts, diabetic retinopathy, and glaucoma, is also boosting product demand. As per the WHO, glaucoma accounts for 4.5 million cases of blindness globally. In the United States, glaucoma is termed the "Silent Thief of Sight," which is the second-leading cause of blindness.
The market growth can also be attributed to technological advancements, such as the development of intraocular lenses, fundus cameras, and OCT devices. Furthermore, the increasing involvement of market players in expanding treatment solutions through strategic alliances is expected to present this market with a potential growth platform. Approximately 10% of the people suffering from eye disorders are expected to experience loss of vision despite the proper treatment, as per the statistics of the WHO, driving the clinical urgency to incorporate highly advanced ophthalmic devices. Furthermore, rising demand for minimally invasive and complication-free operative surgeries is expected to boost product demand. Due to the COVID-19 pandemic, the majority of the population's screen time was increased, resulting in increased cases of various eye issues, which will support market growth over the forecast period.