Ophthalmic Devices Market 2023: Growth Factors, Opportunities, Ongoing Trends and Key Players | PMR

The ophthalmic devices market refers to the industry that produces devices used for the diagnosis and treatment of eye conditions and diseases. This market includes products such as contact lenses, intraocular lenses, ophthalmic instruments, ophthalmic surgical devices, and vision care products. The market is growing due to an increasing elderly population, a rise in eye diseases such as cataracts, glaucoma, and age-related macular degeneration, and advancements in technology leading to the development of new and innovative ophthalmic devices.

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One of the key drivers of the ophthalmic devices market is the increasing prevalence of eye conditions. As the global population continues to age, the incidence of age-related eye conditions, such as cataracts and glaucoma, is expected to increase. This trend is expected to drive the demand for ophthalmic devices.

Another factor contributing to the growth of the ophthalmic devices market is the development of new technologies and products. In recent years, there have been numerous advances in the field, including the development of advanced diagnostic and surgical equipment, as well as the introduction of new materials, such as biodegradable and bioabsorbable materials, in ophthalmic devices. These innovations have made treatments more effective and have reduced the risk of complications.

Companies

Johnson & Johnson.
Essilor International.
Bausch & Lomb Incorporated.
Novartis AG.
HOYA CORPORATION.
Abbott Laboratories, Inc.

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Overall, the ophthalmic devices market is expected to continue to grow in the coming years, driven by the increasing prevalence of eye conditions and the development of new technologies and products.

Segment Analysis

Based on type, the global ophthalmic devices market is segmented into vision care devices, diagnostic devices, and surgery devices. The vision care devices segment is the largest segment and surgery devices is the fastest growing segment. Vision care devices have two key sub-segments, contact lenses and spectacle lenses.

Although spectacle lenses are more widely used, contact lenses will witness substantial growth through to 2020. The surgery devices segment is bifurcated into cataract surgery devices, glaucoma surgery devices, refractive error surgery devices, and vitreoretinal surgery devices. Cataract surgery devices however for the largest sub-segment.

The sub-segments of the diagnostic devices segment include optical coherence tomography scanners, fundus cameras, tonometers, ophthalmoscopes, retinoscope, pachymeter, wavefront aberrometers, corneal topographers, biometers, keratometers, visual field analyzers, specular microscopes, autorefractors, and ophthalmic ultrasound imaging systems.

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By Type

Vision care devices
Surgery devices
Diagnostic devices

By Vision Care Devices

Contact lenses
Spectacle lenses

By Surgery Devices

Cataract surgery devices
Glaucoma surgery devices
Refractive error surgery devices
Vitreoretinal surgery devices

By Diagnostic Devices

Optical coherence tomography (OCT) scanners
Fundus cameras
Slit lamps
Tonometers
Ophthalmoscopes
Retinoscope
Pachymeter
Wavefront aberrometers
Corneal topographers
Biometers
Keratometers
Visual field analyzers or perimeters
Specular microscopes
Autorefractors
Ophthalmic ultrasound imaging systems

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