Ophthalmic Devices Market To Surge USD $44.86 Bn with Growing CAGR of 4.0% by 2027

Ophthalmic Devices Market by Product Function [Surgical Devices (Refractive Error Surgery Devices, Glaucoma Surgery Devices, Cataract Surgery Devices, and Vitreoretinal Surgery Devices) Ophthalmic Diagnostic Devices (Refractors, Corneal Topography Systems, Retinal Ultrasound Systems, Fundus Camera, Ophthalmoscopes, OCT, Perimeters, Slit Lamps, and Tonometer), and Vision Care Devices (Contact Lenses and Spectacles)]: Global Opportunity Analysis and Industry Forecast, 2020-2027.

The global ophthalmic devices market garnered $32.53 billion in 2019, and is estimated to reach $44.86 billion by 2027, registering a CAGR of 4.0% from 2020 to 2027.

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Covid-19 scenario:

The lockdown in several countries resulted in the disruption of the supply chain and shortage of supplies.

As the government has imposed lockdown across various countries, ophthalmology surgeries have been postponed, as ophthalmologists are at high risk due to the proximity to patients while diagnosing.

As the majority of eye clinics were closed, patients used teleophthalmology services for urgent follow-up.

North America is anticipated to dominate the market by 2027-

Based on region, North America accounted for the highest share based on revenue, holding for nearly two-fifths of the global ophthalmic devices market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is due to rise in number of blindness and low vision in the U.S. Moreover, Asia-Pacific region is estimated to generate the fastest CAGR of 4.5% from 2020 to 2027. This is attributed to the presence of high population base, increase in disposable income, and improvement in patient awareness about advanced ophthalmic devices in this region.

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Important Questions Being Answered by the Market Report

What is the ophthalmic devices market size and growth?

What are the prominent and latest trends impacting the market?

Which regions will observe growth on new occasions?

Which players are adopting a functioning and planned framework to obtain customer loyalty?

Leading market players

Abbott Laboratories
Novartis AG
Carl Zeiss Meditec AG
Essilor International S.A.
HAAG-Streit Holding AG
Johnson & Johnson
Nidek Co., Ltd.
Topcon Corporation
Valeant Pharmaceuticals International, Inc.
Ziemer Ophthalmic Systems AG.

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