PUBLISHER: The Business Research Company | PRODUCT CODE: 1829876
PUBLISHER: The Business Research Company | PRODUCT CODE: 1829876
Ophthalmology is a medical specialty that focuses on the diagnosis, treatment, and prevention of eye diseases and disorders affecting the visual system. Ophthalmic devices are utilized for the diagnosis and treatment of various eye conditions. Ophthalmologists are medical doctors who specialize in eye care, performing eye exams, prescribing corrective lenses, diagnosing eye diseases, and conducting surgical procedures to address vision-related issues.
The primary categories within the field of ophthalmic devices include vision care devices and equipment, cataract surgery devices and equipment, refractive surgery devices and equipment, and diagnostic and monitoring ophthalmic devices and equipment. Cataract surgery devices and equipment, for example, involve the use of devices that emit ultrasound waves to soften and break up the lens, making it easier to remove through suction. Expenditure in this domain can come from both public and private sources, and the products used encompass instruments/equipment and disposables. Ophthalmic devices serve a wide range of end users, including hospitals and clinics, diagnostic laboratories, and other healthcare facilities.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp increase in U.S. tariffs and resulting trade tensions in spring 2025 are significantly impacting the medical equipment sector, especially for imported components used in imaging machines, surgical-grade stainless steel, and disposable plastics. With hospitals and clinics pushing back against price increases, manufacturers are facing margin pressure. The situation is further complicated by regulatory challenges, as switching suppliers due to tariffs often necessitates re-certification of medical devices, leading to delays in market entry. In response, companies are mitigating risks by dual-sourcing key components, ramping up domestic production of standardized items, and accelerating research into more cost-effective materials.
The ophthalmic devices market research report is one of a series of new reports from The Business Research Company that provides ophthalmic devices market statistics, including ophthalmic devices industry global market size, regional shares, competitors with a ophthalmic devices market share, detailed ophthalmic devices market segments, market trends and opportunities, and any further data you may need to thrive in the ophthalmic devices industry. This ophthalmic devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ophthalmic devices market size has grown strongly in recent years. It will grow from $43.66 billion in 2024 to $47.31 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to aging population, increasing eye diseases, regulatory changes, the expansion and improvement of healthcare infrastructure,.
The ophthalmic devices market size is expected to see strong growth in the next few years. It will grow to $64.77 billion in 2029 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to rising diabetes rates, telemedicine and remote monitoring, emerging markets growth, minimally invasive surgery, advancements in genetics and personalized medicine. Major trends in the forecast period include artificial intelligence (AI) and machine learning, wearable technology, teleophthalmology, sustainable and eco-friendly devices, patient-centric care.
The forecast of 8.2% growth over the next five years indicates a slight reduction of 0.1% from the previous estimate for this market.This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through increased duties on Israeli-made corneal topographers, raising costs for vision correction diagnostic equipment and potentially delaying LASIK and other refractive surgeries.The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The ophthalmic device market is poised for growth, primarily due to the increasing incidence and prevalence of eye diseases. Eye conditions such as age-related macular degeneration (AMD), glaucoma, and cataracts are becoming significant contributors to visual impairment and blindness on a global scale. Ophthalmic devices are indispensable in the diagnosis, treatment, and management of various eye disorders. For instance, in August 2024, according to the National Health Service (NHS), a public sector organization, NHS-funded sight tests reached a record high of over 841,000 in 2024, marking a 6.6% increase compared to 2023. The growing incidence and prevalence of eye-related disorders are expected to drive the demand for ophthalmic devices in the diagnosis and treatment of eye diseases.
An increasing geriatric population is expected to drive the growth of the ophthalmic device market in the coming years. Geriatrics, the medical care of older adults, is crucial as this age group is more vulnerable to age-related ophthalmic disorders. For instance, in January 2024, the Population Reference Bureau, a US-based nonprofit organization, reported that the population of Americans aged 65 and older is projected to rise from 58 million in 2022 to 82 million by 2050, a 47% increase. As the geriatric population grows, so does the demand for ophthalmic devices, fueling market expansion.
Technological advancements represent a notable trend in the ophthalmic devices market. Leading companies in the sector are dedicated to introducing new technologies, including automated and advanced platforms that enhance diagnosis and treatment. For instance, in March 2022, Alcon, a Swiss-American pharmaceutical and medical device company, introduced its Clareon family of intraocular lenses (IOLs) in the U.S. These Clareon lenses feature glistening-free IOL material, offering sharp, crisp vision and proprietary enhancements that reduce glare and posterior capsular opacification.
Major companies in the ophthalmic devices market are focusing on developing innovative products to maintain their market standing. They invest in research and development to introduce inventive products and expand their market share. For example, in May 2023, Sight Sciences Inc., a U.S.-based eyecare technology company, announced the development of two innovative ophthalmic systems, both featuring proprietary glaucoma and dry eye technologies such as the OMNI Surgical System and the TearCare System. The OMNI Surgical System technology facilitates minimally invasive, implant-free glaucoma procedures for adults with primary open-angle glaucoma, while the TearCare System offers an interventional eyelid procedure for patients with evaporative dry eye disease due to meibomian gland dysfunction through localized heat therapy.
Major companies operating in the ophthalmic devices market include Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG, Bausch Health Companies Inc., Carl Zeiss AG, Flex Ltd., Nidek Co. Ltd., Topcon Corporation, Rostec State Corporation, Alcon Inc., EssilorLuxottica, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Takeda Pharmaceuticals, AbbVie Inc., Otsuka Pharmaceutical Co. Ltd., Edwards Lifesciences Corp., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Veeva System Inc., Recipharm AB, Menicon Co. Ltd., Chengdu Kanghong Pharmaceutical, Bangladesh Export Import Company Limited, Glaukos Corporation, STAAR Surgical Company, Omeros Corporation, Aerie Pharmaceuticals Inc., Alimera Sciences Inc., Bora Pharmaceuticals Co. Ltd., Iridex.
North America was the largest region in the global ophthalmic devices market in 2024. Asia-Pacific was the second largest region in the global ophthalmic devices market. Africa. was the smallest region in the global ophthalmic devices market. The regions covered in the ophthalmic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the ophthalmic devices market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The ophthalmic devices consist of sales of instruments such as optical coherence tomography scanners, perimeters/visual field analyzers, ophthalmic pachymeters, wavefront aberrometers, and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ophthalmic Devices Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ophthalmic devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ophthalmic devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The ophthalmic devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.