Ophthalmology Devices Market by Devices, Application

Description

List of Tables

[198 Pages Report] The Ophthalmology Devices Market size was estimated at USD 67.94 billion in 2023 and expected to reach USD 70.93 billion in 2024, at a CAGR 4.52% to reach USD 92.61 billion by 2030.

Ophthalmology devices encompass various instruments, equipment, and technology designed to diagnose, treat, and manage eye conditions and diseases. These devices are integral to the field of ophthalmology, a medical specialty concentrated on eye care, enabling healthcare professionals to enhance the quality of life for patients through enhanced vision care. The category of ophthalmology devices includes diagnostic and surgical instruments, corrective and therapeutic devices, and vision care products. Examples range from sophisticated imaging systems used to visualize and analyze eye structures, surgical instruments for procedures including cataract removal and LASIK, to corrective lenses and contact lenses designed to improve vision. The growing number of elderly individuals, more prone to eye diseases and rising instances of eye-related diseases globally fuel the demand for ophthalmology devices. However, adverse recalls of ophthalmology devices hinder market growth. Nevertheless, diagnostics and surgical equipment innovations with the establishment of high-standard and certified eye clinics are expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 67.94 billion
Estimated Year [2024]	USD 70.93 billion
Forecast Year [2030]	USD 92.61 billion
CAGR (%)	4.52%

Devices: Burgeoning adoption of diagnostic and monitoring devices in ophthalmology crucial for the management of eye diseases

Diagnostic and monitoring devices in ophthalmology are crucial for the early detection, diagnosis, and management of eye diseases. Autorefractors and keratometers are used to determine a patient's prescription by automatically measuring the refractive error and curvature of the cornea. Corneal topography systems are utilized for mapping the surface curvature of the cornea, aiding in the detection and treatment of various corneal conditions. Ophthalmic ultrasound imaging systems employ high-frequency sound waves to create images of the eye's interior, which is crucial for diagnosing retinal and other ocular conditions. Optical coherence tomography scanners provide high-resolution cross-sectional retina images, essential for the early detection and management of many retinal diseases. Perimeter/Visual field analyzer tools are used to evaluate and diagnose visual field defects, a critical component in managing glaucoma and neurological conditions. Phoropter instruments are used to determine the exact lens strength needed for glasses or contact lenses by testing patient responses to various lenses. A retinoscope device is used to assess refractive error by observing the reflection of light from the retina. Specular microscopes are designed for examining the corneal endothelium, which is key in assessing corneal health and suitability for certain eye surgeries. Wavefront aberrometers are advanced technology for measuring aberrations in the eye, helping to customize refractive surgeries for vision correction. Surgical Devices are essential for eye surgeries, ranging from cataract extraction and glaucoma filtration to retinal detachment repair. Cataract surgery devices include phacoemulsification devices, intraocular lenses (IOLs), and viscoelastic, which are critical for the effective treatment of cataracts. Glaucoma surgery devices comprise lasers and microinvasive glaucoma surgical (MIGS) devices, which are crucial for reducing intraocular pressure in glaucoma management. Ophthalmic microscopes provide high magnification and illumination, which is essential for performing intricate ophthalmic surgeries. Refractive surgery devices encompass lasers and other tools used in procedures, including LASIK, for correcting refractive errors and reducing dependence on glasses or contact lenses. Vitreoretinal surgery devices are instruments and equipment designed to treat retinal and posterior segment diseases. Vision care devices include various products designed to correct or protect vision. This category encompasses prescription eyeglasses, contact lenses, and eye care solutions to maintain or improve visual health. These devices are crucial in managing refractive errors, protecting eyes from harmful UV rays, and ensuring ongoing ocular health.

Application: Evolving usage of ophthalmology devices in hospitals and ophthalmology clinics

Academies and research laboratories predominantly focus on advancing ophthalmic knowledge, disease understanding, and developing new technologies. The requirement for precision in research activities and experiments drives the need for highly specialized and advanced ophthalmology devices here. Notable equipment includes advanced imaging systems, laser devices for experimental therapies, and high-resolution microscopes. Ambulatory Surgical Centers are pivotal in providing outpatient procedures, including ophthalmology surgeries such as cataract removal, LASIK, and minor retinal procedures. The preference here is for compact, efficient, and multi-functional devices that ensure quick turnaround times and high patient throughput. Essential equipment includes portable phacoemulsification systems, compact femtosecond lasers, and modular patient monitoring systems. Hospitals and ophthalmology clinics are the primary venues for comprehensive eye care, including diagnostics, surgical treatments, and emergency services. These settings demand a wide array of ophthalmology devices, from basic diagnostic equipment to advanced surgical systems. Versatility, reliability, and integration cap

Regional Insights

The Americas has evolved in the ophthalmology devices market, attributed to strong research and development capabilities and a high prevalence of eye-related disorders. There is a marked shift towards minimally invasive surgeries, and the adoption of advanced imaging technologies is rising. The latest patents in the region emphasize smart contact lenses and AI-driven diagnostic tools. The government and private sector's investment in healthcare infrastructure and ophthalmic research fosters the growth of this market in the Americas. In the Asia-Pacific, the ophthalmology devices market is expanding rapidly due to its large population base, growing elderly population, and rising awareness of eye health. The country is witnessing a surge in domestic manufacturers entering the market, backed by government support for the biotechnology and medical device sectors. Furthermore, countries in this region focus on innovative products with precision and quality, with significant investments in R&D revealing a trend towards robotic surgery and advanced imaging techniques. In addition, the market is price-sensitive, with a high demand for cost-effective solutions alongside a growing acceptance of advanced technologies. Stringent regulatory standards and high-quality healthcare services characterize the EU's market. Innovative device approvals and a focus on patient safety underpin the market. The adoption of digital eye care and teleophthalmology highlights the shift towards remote and minimally invasive patient care. On the other hand, the Middle East and Africa region presents a diverse market with varying levels of healthcare infrastructure. The gulf cooperation council (GCC) countries are investing in healthcare and the adoption of advanced ophthalmology devices, driven by government initiatives to improve healthcare services. In contrast, African countries are witnessing gradual growth with an increasing focus on treating preventable blindness and eye diseases.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Ophthalmology Devices Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Ophthalmology Devices Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Ophthalmology Devices Market, highlighting leading vendors and their innovative profiles. These include Alcon Inc., Bausch & Lomb Incorporated by Valeant Pharmaceuticals International, Canon Medical Systems Corporation, Carl Zeiss AG, ClearSight, Diamatrix Ltd., EssilorLuxottica, Eyenovia, Inc., F. Hoffmann-La Roche AG, GWS Surgicals LLP, Haag-Streit Group by Metall Zug, Halma PLC, HEINE Optotechnik, Honeywell International Inc., Hoya Corporation, Johnson & Johnson Services, Inc., Luneau Technology Operations SAS, Nidek Co. Ltd., Ophtec B.V., Ophtechnics Unlimited, Paramount Surgimed Ltd., STAAR Surgical Company, Stryker Corporation, Topcon Corporation, Unique Technologies, Inc., and Ziemer Ophthalmic Systems AG.

Market Segmentation & Coverage

This research report categorizes the Ophthalmology Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:

Devices
- Diagnostic & Monitoring Devices
  - Autorefractors & Keratometers
  - Corneal Topography Systems
  - Ophthalmic Ultrasound Imaging Systems
  - Optical Coherence Tomography Scanners
  - Perimeters/Visual Field Analysers
  - Phoropters
  - Retinoscope
  - Specular Microscope
  - Wavefront Aberrometer

Surgical Devices
- Cataract Surgery Devices
- Glaucoma Surgery Devices
- Ophthalmic Microscopes
- Refractive Surgery Devices
- Vitreoretinal Surgery Devices

Vision Care

Application
- Academy & Research Laboratory
- Ambulatory Surgical Centers
- Hospitals & Ophthalmology Clinics

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Ophthalmology Devices Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Ophthalmology Devices Market?

3. What are the technology trends and regulatory frameworks in the Ophthalmology Devices Market?

4. What is the market share of the leading vendors in the Ophthalmology Devices Market?

5. Which modes and strategic moves are suitable for entering the Ophthalmology Devices Market?

Product Code: MRR-036C5CF3B498

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing prevalence of eye diseases worldwide
  - 5.1.1.2. Rising awareness of eye health and improved access to eye care
  - 5.1.1.3. Expanding preference for minimally invasive surgeries
- 5.1.2. Restraints
  - 5.1.2.1. Adverse recalls of ophthalmology devices
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in ophthalmological devices
  - 5.1.3.2. Establishment of high-standard and certified eye clinics
- 5.1.4. Challenges
  - 5.1.4.1. Technical limitations and operational issues of the devices
5.2. Market Segmentation Analysis
- 5.2.1. Devices: Burgeoning adoption of diagnostic and monitoring devices in ophthalmology crucial for the management of eye diseases
- 5.2.2. Application: Evolving usage of ophthalmology devices in hospitals and ophthalmology clinics
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Ophthalmology Devices Market, by Devices

6.1. Introduction
6.2. Diagnostic & Monitoring Devices
6.3. Surgical Devices
6.4. Vision Care

7. Ophthalmology Devices Market, by Application

7.1. Introduction
7.2. Academy & Research Laboratory
7.3. Ambulatory Surgical Centers
7.4. Hospitals & Ophthalmology Clinics

8. Americas Ophthalmology Devices Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Ophthalmology Devices Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Ophthalmology Devices Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Zeiss Acquires Dutch Ophthalmic Research Center in USD 1 Billion Deal
- 11.3.2. Kubota Vision Announces Agreement with AUROLAB for Development, Manufacturing, Supply, and Distribution License of eyeMO
- 11.3.3. Bausch + Lomb Announces U.S. Launch of StableVisc Cohesive Ophthalmic Viscosurgical Device and TotalVisc Viscoelastic System
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio