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The Impact Of Increasing Incidence And Prevalence Of Eye Diseases On The Ophthalmic Devices Market: Pivotal Factor Influencing Ophthalmic Devices Market Growth in 2025
Ophthalmic Devices Market
Ophthalmic Devices Market Size Growth Forecast: What to Expect by 2025?
In recent times, the ophthalmic devices market has experienced significant growth. It is forecasted to increase from $43.66 billion in 2024 to $47.31 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. The historic period's growth can be credited to factors such as an aging population, a rise in eye diseases, regulatory shifts, and the development and enhancement of healthcare infrastructure.
How Will the Ophthalmic Devices Market Size Evolve and Grow by 2029?
There is a predicted solid expansion in the market size of ophthalmic devices in the coming years. The market is estimated to amplify to $64.77 billion in 2029, with an annual growth rate of 8.2% compounded annually. The anticipated surge during the forecast period may be associated with the increase in diabetes prevalence, the rise of telemedicine and distant monitoring, the expansion of emerging markets, the minimally invasive surgical procedures, and the breakthroughs in genetics and personalized treatments. The projected period also indicates significant trends of artificial intelligence (AI) and machine learning, wearable tech, teleophthalmology, eco-friendly and sustainable devices, and patient-centered healthcare.
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What Drivers Are Propelling the Growth of Ophthalmic Devices Market Forward?
The escalation in the occurrence and prevalence of eye conditions is predicted to boost the ophthalmic device market's expansion. Eye ailments like age-related macular degeneration (AMD), glaucoma, and cataracts are emerging as primary contributors to visual impairment and blindness worldwide. Ophthalmic devices are instrumental in identifying, managing, and treating numerous eye disorders. To illustrate, as per the National Health Service, a public sector agency, in 2024, there was a record-breaking number of over 841,000 NHS-funded sight tests, indicating a 6.6% increase compared to 2023. The escalating occurrence and prevalence of eye-related disorders are projected to fuel the demand for ophthalmic devices in detecting and treating eye diseases.
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Which Emerging Trends Are Transforming the Ophthalmic Devices Market in 2025?
The surge in technological advancements is a prominent trend capturing attention in the ophthalmic devices industry. Key industry players are prioritizing the introduction of fresh technologies like automated and sophisticated platforms to enhance the quality of diagnosis and treatment. An illustrative example is the Swiss-American pharmaceutical and medical device company, Alcon, which in March 2022, unveiled its IOLs under the brand name Clareon in the U.S. The unique selling point of these Clareon lenses is their glistening-free IOL material, offering clear and focused vision with a proprietary edge designed to mitigate glare and posterior capsular opacification.
What Are the Key Segments in the Ophthalmic Devices Market?
The ophthalmic devices market covered in this report is segmented -
1) By Type: Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment
2) By Type of Expenditure: Public, Private
3) By Product: Instruments/Equipment, Disposables
4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
Subsegments:
1) By Vision Care Devices And Equipment: Eyeglasses, Contact Lenses, Low Vision Aids
2) By Cataract Surgery Devices And Equipment: Cataract Surgery Instruments, Cataract Surgery Implants (Intraocular Lenses), Cataract Surgery Devices (Phacoemulsification Systems)
3) By Refractive Surgery Devices And Equipment: LASIK Devices, SMILE Surgery Devices, PRK Surgery Devices
4) By Diagnostic And Monitoring Ophthalmic Devices And Equipment: Fundus Cameras, Optical Coherence Tomography (OCT) Scanners, Perimeters, Retinal Imaging Systems, Slit Lamps
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Who Are the Key Players Shaping the Ophthalmic Devices Market's Competitive Landscape?
Major companies operating in the ophthalmic devices market include Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG, Bausch Health Companies Inc., Carl Zeiss AG, Flex Ltd., Nidek Co. Ltd., Topcon Corporation, Rostec State Corporation, Alcon Inc., EssilorLuxottica, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Takeda Pharmaceuticals, AbbVie Inc., Otsuka Pharmaceutical Co. Ltd., Edwards Lifesciences Corp., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Veeva System Inc., Recipharm AB, Menicon Co. Ltd., Chengdu Kanghong Pharmaceutical, Bangladesh Export Import Company Limited, Glaukos Corporation, STAAR Surgical Company, Omeros Corporation, Aerie Pharmaceuticals Inc., Alimera Sciences Inc., Bora Pharmaceuticals Co. Ltd., Iridex.
What Geographic Markets Are Powering Growth in the Ophthalmic Devices Market?
North America was the largest region in the global ophthalmic devices market in 2024. Asia-Pacific was the second largest region in the global ophthalmic devices market. Africa. was the smallest region in the global ophthalmic devices market. The regions covered in the ophthalmic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Ophthalmology is a branch of medical sciences that deals with the structure, function, and various eye diseases. The ophthalmic devices are medical equipment designed for diagnosis, surgical, and vision correction purposes. These devices gain increased importance and adoption due to high prevalence of various ophthalmic diseases such as glaucoma, cataract, and other vision related issues.
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Increase in prevalence rate of eye related diseases such as glaucoma, cataract,…
