Ophthalmic Devices Market to grow at a CAGR of 4.12% by 2030, estimates DelveInsight

The Global Ophthalmic Devices Market was valued at USD 55.91 billion in 2023 and is projected to grow at a CAGR of 4.12% from 2024 to 2030, reaching USD 71.23 billion by 2030. Market growth is being driven by the rising prevalence of myopia, an expanding geriatric population leading to a higher burden of ocular diseases, the increasing volume of ophthalmic surgeries, and continuous technological advancements in product development. These factors are expected to fuel demand and contribute significantly to the market's expansion during the forecast period of 2024-2030.

DelveInsight's Ophthalmic Devices Market Insights report provides the current and forecast market analysis, individual leading Ophthalmic Devices companies' market shares, challenges, Ophthalmic Devices market drivers, barriers, and trends, and key Ophthalmic Devices companies in the market.

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Key Takeaways from the Ophthalmic Devices Market Report
The Ophthalmic Devices market is projected to grow at a moderate CAGR from 2024 to 2030.
As per DelveInsight estimates, North America is anticipated to dominate the global Ophthalmic Devices market during the forecast period.
Notable Ophthalmic Devices companies such as ZEISS Group, Leica Microsystems, CANON MEDICAL SYSTEMS EUROPE B.V., Optovue, Incorporated, Heidelberg Engineering Inc, NIDEK CO., LTD, Luneau Technology Group, OPTOPOL Technology Sp. z o.o., Sonomed Escalon, Keeler, Konan Medical USA, Inc., TOMEY CORPORATION, Rexxam Co. Ltd., HAAG-STREIT GROUP, Essilor Instruments USA Ltd, Ziemer Ophthalmic Systems, Costruzione Strumenti Oftalmici, Topcon Corporation, HAI Laboratories, Inc., Centervue SpA, HOYA Corporation, Bausch & Laumb Incorporated, Coopervision Inc, Alcon Inc, Rudolf Riester GmbH, Johnson & Johnson Vision Care, Inc, Hill-Rom Services, Inc, Hanita Lenses, Takagi Seiko, STAAR Surgical, and several others are currently operating in the Ophthalmic Devices market.
In October 2021, NIDEK CO. LTD. introduced the Retina Scan Duo 2, an integrated OCT and fundus camera system featuring upgraded capabilities aimed at improving screening accuracy and clinical efficiency, while retaining the user-friendly elements of its predecessor.
In October 2021, iCare USA secured 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its EIDON Ultra-Widefield Lens module, which can capture retinal images spanning 120 degrees in a single shot, or up to 200 degrees using the mosaic function.
Earlier, in May 2021, Essilor International received FDA approval for its Stellest lens, a spectacle lens specifically designed to correct myopia and slow its progression in children.

To read more about the latest highlights related to the Ophthalmic Devices market, get a snapshot of the key highlights entailed in the Global Ophthalmic Devices Market Report https://www.delveinsight.com/sample-request/ophthalmic-devices-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=kpr


Ophthalmic Devices Overview

Ophthalmic devices are specialized medical tools and equipment designed for the diagnosis, monitoring, and treatment of various eye disorders and vision-related conditions. These devices play a vital role in modern ophthalmology by enabling early detection of ocular diseases, guiding surgical interventions, and improving patient outcomes.

Ophthalmic Devices Market Insights

North America is anticipated to hold a substantial share of revenue in the global ophthalmic devices market and is expected to continue its dominance throughout the forecast period. This can be attributed to the growing prevalence of ocular diseases, an expanding elderly population, and the increasing incidence of lifestyle-related conditions such as diabetes, obesity, and hypertension, which significantly contribute to the onset of various eye disorders. Additionally, supportive government initiatives aimed at raising awareness about ophthalmic diseases and treatment options are expected to further accelerate market growth in the region.

According to the National Diabetes Statistics Report released by the Centers for Disease Control and Prevention (CDC) in 2020, around 34.2 million Americans were living with diabetes, while nearly 88 million were in the pre-diabetic stage. Diabetes is recognized as one of the key risk factors for the development of ocular conditions such as diabetic retinopathy, glaucoma, and cataracts. Given the high diabetic population in the region, the number of patients affected by vision-related disorders is projected to increase, thereby driving demand for ophthalmic devices for both diagnostic and treatment purposes. This trend is expected to strengthen the growth of the North American ophthalmic devices market, contributing significantly to the overall expansion of the global market.

To know more about why North America is leading the market growth in the Ophthalmic Devices market, get a snapshot of the Ophthalmic Devices Market Outlook https://www.delveinsight.com/report-store/ophthalmic-devices-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=kpr


Ophthalmic Devices Market Dynamics

The ophthalmic devices market is experiencing growing demand due to several factors, with one of the most significant being the rising geriatric population. According to the United Nations report on global aging, there were around 727 million people aged 65 and above in 2020, a number projected to more than double to over 1.5 billion within the next three decades. Older adults are particularly prone to developing ophthalmic conditions such as glaucoma, cataracts, and age-related macular degeneration, contributing to the rising prevalence of age-related ocular disorders. Supporting this, World Health Organization data from 2020 reported 7.7 million glaucoma cases and 4.2 million cases of corneal opacities. To ensure early detection and effective management of these conditions, the adoption of ophthalmic devices is increasing, thereby driving market growth.

Another major driver of demand is the escalating prevalence of myopia. According to the International Myopia Institute (2023), projections indicate that by 2050, there will be nearly 5 billion people with myopia worldwide, with around 1 billion affected by high myopia. Numerous studies have highlighted that myopia is emerging as one of the leading causes of blindness globally, further emphasizing the critical need for ophthalmic equipment.

Ophthalmic Devices Market Drivers:
Increasing prevalence of myopia
Rising geriatric population resulting in rising prevalence of ocular diseases

Get a sneak peek at the Ophthalmic Devices market dynamics @ https://www.delveinsight.com/sample-request/ophthalmic-devices-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=kpr


Scope of the Ophthalmic Devices Market Report:
Coverage: Global
Study Period: 2022 to 2030
Key Ophthalmic Devices Companies: ZEISS Group, Leica Microsystems, CANON MEDICAL SYSTEMS EUROPE B.V., Optovue, Incorporated, Heidelberg Engineering Inc, NIDEK CO., LTD, Luneau Technology Group, OPTOPOL Technology Sp. z o.o., Sonomed Escalon, Keeler, Konan Medical USA, Inc., TOMEY CORPORATION, Rexxam Co. Ltd., HAAG-STREIT GROUP, Essilor Instruments USA Ltd, Ziemer Ophthalmic Systems, Costruzione Strumenti Oftalmici, Topcon Corporation, HAI Laboratories, Inc., Centervue SpA, HOYA Corporation, Bausch & Laumb Incorporated, Coopervision Inc, Alcon Inc, Rudolf Riester GmbH, Johnson & Johnson Vision Care, Inc, Hill-Rom Services, Inc, Hanita Lenses, Takagi Seiko, STAAR Surgical, and others.

Which MedTech key players in the Ophthalmic Devices market are set to emerge as the trendsetter, explore @ Ophthalmic Devices Companies https://www.delveinsight.com/report-store/ophthalmic-devices-market?utm_source=openpr&utm_medium=pressrelease&utm_campaign=kpr

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