PUBLISHER: Grand View Research | PRODUCT CODE: 1941834
PUBLISHER: Grand View Research | PRODUCT CODE: 1941834
The global ophthalmic devices market size was valued at USD 20.5 billion in 2025 and is projected to reach USD 39.1 billion by 2033, growing at a CAGR of 8.6% from 2026 to 2033. The growth of the market can be attributed to the rising prevalence of optical disorders, such as glaucoma, cataracts, diabetic retinopathy, and vitreoretinal disorders, coupled with technological advancements in ophthalmic surgical as well as diagnostic instruments required for these target applications.
Improved government initiatives to increase market base for visual impairment, thereby expanding the market for growth. For instance, in May 2024, the World Health Organization (WHO) initiated the SPECS 2030 program to assist countries in meeting the global eye care goal of a 40% increase in access to appropriate spectacles for people.
The growing geriatric population is increasing the demand for ophthalmic devices as they are more susceptible to age-related ophthalmic disorders. According to the National Institute of Aging (NIA), the geriatric population is expected to reach around 72 million by 2030. The increasing prevalence of diabetes and the incidence of diabetes-related blindness are predicted to fuel market growth. According to the World Health Organization (WHO), nearly 422 million people worldwide have diabetes, and the majority live in low and middle-income countries.
Increased screen time, has been associated with the onset and progression of various eye diseases, thus increasing the demand for eye examinations. For instance, in May 2024, Prevent Blindness, a non-profit volunteering organization focused on preventing blindness and preserving sight through public and professional education, community, and patient service programs, launched the "It Started with an Eye Exam" campaign to encourage consumers to provide their stories about how eye care positively impacts their health. This campaign was funded by Vitaris, Inc., a healthcare company that holistically bridges the gap between generic and branded medications to address global healthcare needs.
Technological advancements have enabled accurate diagnosis and improved treatment of ophthalmic disorders. Advancements in medications, diagnostic devices, laser technology, and surgical techniques have improved the handling of cataracts and macular degeneration, glaucoma, and dry eye disease.
Market players are also developing advanced products to meet the demand for these products. For instance, in April 2023, Bausch & Lomb announced the launch of ophthalmic viscosurgical devices in the United States. In March 2023, WaveFront Dynamics Inc. announced the commercial launch of its WaveDyn vision Analyzer. Such initiatives help increase awareness about eye diseases and the availability of diagnostic equipment.
Global Ophthalmic Devices Market Report Segmentation
This report forecasts country-level revenue growth and analyzes the latest industry trends and opportunities in each sub-segment from 2021 to 2033. For this study, Grand View Research has segmented the global ophthalmic devices market report based on product, application, end-use, and region: