Press release
Eye Care Surgical Devices Market Expected to Reach US$ 10.7 Billion by 2031 with a 5.5% CAGR Growth from 2022
The global eye care surgical devices market is poised for significant growth and transformation in the coming years, driven by technological advancements, increasing prevalence of eye disorders, and rising demand for minimally invasive surgical procedures. This article provides a comprehensive overview of the market, including its size, segmentation, regional analysis, key developments, market drivers and challenges, trends, future outlook, key study points, competitive landscape, and how to access comprehensive market research reports.Market Overview
The global eye care surgical devices market was valued at US$ 6.1 billion in 2021 and is projected to grow at a steady CAGR of 5.5% from 2022 to 2031, reaching US$ 10.7 billion by the end of 2031. Eye care surgical devices play a crucial role in the diagnosis and treatment of various eye conditions, ranging from cataracts to glaucoma and refractive errors.
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Key Developments
In November 2021, Rivoli Vision, the eyewear division of the Rivoli Group, formed a strategic partnership with ZEISS to drive innovation in optics and vision care, signaling a focus on enhancing patient outcomes and advancing technology in the field.
July 2021 witnessed Ziemer announcing a strategic alliance with Zubisoft to introduce laser nomogram and lens calculation technologies into the market, aiming to improve surgical precision and patient satisfaction.
September 2020 saw Johnson & Johnson Vision launching ECNIS Synergy Toric II, a continuous range-of-vision intraocular lens (IOL) with exceptional rotational stability, catering to the evolving needs of vision care professionals and patients.
Market Segmentation
The market is segmented based on various parameters:
Product Type: Implants & Stents (Intraocular Lenses, Bionic Eyes, Glaucoma Drainage Implants, Glaucoma Stents), Viscoelastics (OVDs), Laser Surgery Devices, Phacoemulsification Equipment, Others
Application: Cataract Surgery, Glaucoma Surgery, Vitreoretinal Surgery, Refractive Surgery
End-user: Hospitals, Specialty Centers, Others
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Regional Analysis
The market is analyzed across regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with each region presenting unique growth opportunities and challenges influenced by factors such as healthcare infrastructure, prevalence of eye diseases, and regulatory environment.
Market Drivers and Challenges
Market Drivers:
Increasing Prevalence of Eye Disorders
Technological Advancements in Surgical Devices
Growing Demand for Minimally Invasive Procedures
Market Challenges:
High Cost of Surgical Devices
Stringent Regulatory Requirements
Limited Access to Eye Care Services in Developing Regions
Market Trends
Minimally Invasive Surgery: There is a growing trend towards minimally invasive surgical procedures, driven by the need for faster recovery times, reduced risk of complications, and improved patient outcomes.
Personalized Medicine: Advancements in genetic testing and molecular diagnostics are enabling personalized treatment approaches, allowing for tailored interventions based on individual patient characteristics.
Future Outlook
The global eye care surgical devices market is poised for robust growth driven by factors such as increasing healthcare expenditure, technological innovations, and a growing aging population. However, challenges related to regulatory compliance and healthcare infrastructure may impact market dynamics.
Key Market Study Points
Market Size and Growth Projections
Competitive Benchmarking and Market Share Analysis
Technological Innovations and Product Development
Regulatory Landscape and Compliance Requirements
Competitive Landscape
Key players in the eye care surgical devices market include Carl Zeiss Meditec AG, Alcon, Bausch Health Companies, Inc., Johnson & Johnson, Lumenis Ltd., Topcon Corporation, IRIDEX Corporation, NIDEK CO., LTD., Ziemer Ophthalmic Systems, Quantel Medical, Hoya Surgical Optics, and other prominent players.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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