Ophthalmic Equipment Market Size, Share, Forecast & Trends 2030

[Redding, California - Feb 15, 2024] - Meticulous Research®, a globally recognized market research leader, has released an insightful report titled 'Ophthalmic Equipment Market by Product Type (Vision Care, Surgical Devices {Refractive, Cataract, Vitreoretinal, Glaucoma, Accessories}, Diagnostic {Retinoscope, Tonometer, Ultrasound}), End User (Consumer, Clinic, Hospital) - Global Forecast to 2030.'

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In a groundbreaking revelation, Meticulous Research® forecasts the global ophthalmic equipment market to soar to $61.58 billion by 2030, with a notable Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. The surge is attributed to several factors, including the escalating prevalence of eye diseases such as cataracts, glaucoma, obesity, and diabetes, age-related macular degeneration (AMD), visual impairment due to extensive use of digital devices, an expanding geriatric population, and augmented government initiatives and funding to enhance accessibility to eye care services.

Future Glimpse into Ophthalmic Equipment Market

Diving deep into the market segmentation, the report categorizes the global ophthalmic equipment market based on Product Type (Vision Care Products [Spectacles, Contact Lenses {Soft Contact Lenses, Rigid Gas Permeable Lenses, Hybrid Contact Lenses}], Surgical Devices [Cataract Surgical Devices {Intraocular Lenses, Ophthalmic Viscoelastic Devices, Cataract Surgical Lasers, Phacoemulsification Devices, IOL Injectors}, Refractive Surgical Devices {Excimer Lasers, Femtosecond Lasers, Other Refractive Surgical Lasers}, Vitreoretinal Surgical Devices {Vitrectomy Machines, Illumination Devices, Vitreoretinal Packs, Photocoagulation Lasers, Vitrectomy Probes}, Glaucoma Surgical Devices {Glaucoma Laser Systems, Glaucoma Drainage Devices, Microinvasive Glaucoma Surgery Devices}, Ophthalmic Microscopes, Ophthalmic Surgical Accessories {Surgical Instruments & Kits, Ophthalmic Spatulas, Ophthalmic Tips & Bundles, Ophthalmic Forceps, Ophthalmic Scissors, Macular Lenses, Ophthalmic Cannulas, Ophthalmic Surgical Accessories}], Diagnostic & Monitoring Devices [Fundus Cameras, Optical Coherence Tomography Scanners, Visual Field Analyzers/Perimeters, Keratometers/Autorefractors, Ophthalmic Ultrasound Imaging Systems {A-Scan Ultrasound Imaging Systems, Scan Ultrasound Imaging Systems, Pachymeters, Ultrasound Microscope}, Slit Lamps, Tonometer, Wavefront Aberrometers, Optical Biometry Systems, Ophthalmoscopes, Lensometers, Chart Projectors, Optical Biometry Systems, Retinoscopes]), End User (Hospitals & Clinics, Ambulatory Surgical Centers, Consumers, Research Institutes & Academics, and Other End Users), and Geography.

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2023 Projections: Vision Care Takes Center Stage

Meticulous Research® anticipates the vision care segment to dominate the ophthalmic equipment market in 2023. The surge is driven by the robust adoption of premium reusable lenses and daily disposable contact lenses, propelled by advancements in specialty lenses and heightened demand for multifocal, toric, and cosmetic lenses. Furthermore, developing nations like India and China witness increased consumption and accessibility of vision care products, facilitated by distribution models, direct-to-consumer channels, including internet sales.

Consumer Segment Holds Commanding Position

In the same year, the consumer segment is forecasted to seize the largest share in the ophthalmic equipment market. Factors such as the growing aging population, escalating eye care requirements, enhanced quality of eye care, increasing purchasing power, and a surge in progressive myopia, myopia, and digital eye strain contribute significantly to the consumer segment's market dominance.

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Geographic Landscape

The research report meticulously examines major geographies, offering a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.

In 2023, North America is poised to take the lead in the global ophthalmic equipment market, with the U.S. emerging as the largest shareholding market. This dominance is attributed to the region's high prevalence of eye diseases and disorders, the presence of key players, and heightened awareness regarding vision care.

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Key Market Players

Key players steering the global ophthalmic equipment market include Bausch Health Companies Inc. (Canada), Carl Zeiss Meditec AG (Germany), EssilorLuxottica (France), Alcon Inc. (U.S.), The Cooper Companies, Inc. (U.S.), Johnson & Johnson Vision Care, Inc. (U.S.), HEINE Optotechnik GmbH & Co. KG (Germany), Glaukos Corporation (U.S.), Ziemer Ophthalmic Systems AG (Switzerland), and Nidek Co., Ltd. (Japan).

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