Vision Care Devices Market: Trends, Growth, and Industry Analysis | Forecast 2024-2031

Vision Care Devices Industry Size

The Global Vision Care Devices Market size was valued at US$ 12.4 billion in 2022 and is estimated to reach US$ 24.78 billion by 2031, growing at a CAGR of 12.7% during the forecast period (2024-2031).

Vision care devices encompass a range of medical devices utilized for enhancing and maintaining vision. These devices may be surgically implanted within the eye socket for permanent use or employed temporarily. They can be both prescribed by healthcare professionals or obtained over-the-counter. Vision care devices are designed for extended usage, offering solutions for various vision-related conditions and needs.

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Vision Care Devices Industry Trends

The market for vision care devices is poised for growth, driven by increasing awareness initiatives and the emergence of novel technologically advanced products.

Advancements in technology, coupled with a growing geriatric population and increased research and development investments, are key factors fueling market expansion. Additionally, the rising prevalence of ophthalmic disorders such as glaucoma, cataract, and age-related macular degeneration (AMD) further drives demand for vision care devices. These devices serve various purposes, including drug delivery and aesthetic enhancements, with their adoption on the rise, leading to increased government initiatives and funding. These funds support the development of products such as intraocular lenses, ophthalmic lasers, and glaucoma drainage devices to address the growing prevalence of ophthalmic disorders worldwide. Moreover, the availability of technologically advanced products by key players is expected to play a crucial role in market growth.

The market's expansion is further propelled by various novel product launches, research studies, and awareness initiatives. For example, in August 2022, STAAR Surgical Company announced a partnership with actor and singer Joe Jonas to raise awareness of its latest implantable Collamer lenses, EVO Visian. This FDA-approved lens is designed for vision correction, specifically targeting astigmatism and myopia, showcasing the ongoing efforts to innovate and improve vision care devices to meet the diverse needs of patients worldwide.

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Industry Segmentation

By Product Type
Intraocular Lenses
Eye Glasses
Contact Lenses
Glaucoma Drainage Devices
Ophthalmic Lasers
Over-the-counter Eye Care/ Supplements
Others

By Type
Prescription
Non-Prescription (Over-the-counter)

By Application
Optical Surgeries
Glaucoma

By End-User
Hospitals
Ambulatory Surgical Centers
Eye Specialty Clinics



Industry Key Players

Major players are Novartis Inc., Cooper Vision, Johnson & Johnson Services, Inc., STAAR Surgical, Bausch & Lomb Incorporated., Carl Zeiss, Ophtec BV, MORCHER GmbH, Safilo Group S.p.A and EssilorLuxottica.



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