According to DelveInsight, the Ophthalmic Devices Market is projected to expand at a CAGR of 4.12% through 2030

North America is expected to dominate the overall Ophthalmic Devices Market. The region's Ophthalmic Devices Market Growth is primarily driven by the presence of a significant number of eye care professionals and clinics, including optometrists and ophthalmologists, a large patient pool associated with vision loss, hypermetropia, and astigmatism, and the presence of a developed & sophisticated healthcare infrastructure.
The global market, valued at USD 55.91 billion in 2023, is expected to reach USD 71.23 billion by 2030.

This growth is primarily driven by the increasing prevalence of myopia, a rapidly aging population contributing to a higher incidence of ocular disorders, the rising number of ophthalmic surgeries, and ongoing technological innovations in device development. These trends are anticipated to boost demand and propel market expansion over the forecast period (2024-2030).

DelveInsight's Ophthalmic Devices Market Insights report offers comprehensive analyses of current and projected market dynamics, including market drivers, barriers, and emerging trends, along with company market shares and profiles of key players operating in the ophthalmic devices sector.

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Key Takeaways from the Ophthalmic Devices Market Report

The Ophthalmic Devices market is expected to witness moderate growth between 2024 and 2030. According to DelveInsight's estimates, North America is projected to maintain its dominant position in the global market throughout the forecast period.

Prominent players operating in the Ophthalmic Devices industry include 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 & Lomb 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.

Recent developments in the market underscore ongoing innovation:

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In October 2021, NIDEK CO. LTD. launched the Retina Scan Duo 2, a combined OCT and fundus camera system with enhanced features for improved screening accuracy and clinical efficiency.

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Also in October 2021, iCare USA received FDA 510(k) clearance for its EIDON Ultra-Widefield Lens module, capable of capturing retinal images up to 120 degrees in a single shot and 200 degrees using the mosaic function.

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In May 2021, Essilor International gained FDA approval for its Stellest lens, a spectacle lens developed to correct myopia and slow its progression in children.

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Ophthalmic Devices Overview

Ophthalmic devices are advanced medical instruments and technologies developed for the diagnosis, monitoring, and treatment of eye diseases and vision-related disorders. They serve as essential tools in modern ophthalmology, facilitating the early detection of ocular conditions, supporting precise surgical procedures, and enhancing overall patient outcomes.

Ophthalmic Devices Market Insights

North America is expected to capture a significant share of global revenue in the ophthalmic devices market and maintain its dominant position throughout the forecast period. This regional leadership is primarily driven by the rising prevalence of eye disorders, a growing aging population, and the increasing incidence of lifestyle-related diseases such as diabetes, obesity, and hypertension, all of which are major contributors to ocular complications. Moreover, favorable government initiatives focused on raising awareness about eye health and available treatment options are likely to further stimulate market growth.

According to the Centers for Disease Control and Prevention (CDC) National Diabetes Statistics Report (2020), approximately 34.2 million Americans were living with diabetes, while an additional 88 million were classified as pre-diabetic. Since diabetes is a major risk factor for conditions like diabetic retinopathy, glaucoma, and cataracts, the region's large diabetic population is expected to result in a rising number of patients with vision-related disorders. This, in turn, will boost demand for ophthalmic diagnostic and therapeutic devices, reinforcing North America's strong market position and contributing substantially to the overall growth of the global ophthalmic devices market.

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Ophthalmic Devices Market Dynamics

The ophthalmic devices market is witnessing increasing demand, largely driven by the rapidly expanding geriatric population. According to the United Nations report on global aging, the number of individuals aged 65 years and above stood at approximately 727 million in 2020 and is expected to more than double to over 1.5 billion within the next 30 years. Older adults are especially vulnerable to age-related eye conditions such as glaucoma, cataracts, and macular degeneration, contributing to the growing burden of ocular diseases. Supporting this, World Health Organization (2020) data reported 7.7 million glaucoma cases and 4.2 million cases of corneal opacities worldwide. As a result, the adoption of ophthalmic devices for early diagnosis and effective disease management is rising, fueling overall market growth.

Another key factor driving demand is the surging prevalence of myopia. According to the International Myopia Institute (2023), by 2050, nearly 5 billion people globally are expected to be affected by myopia, with 1 billion of them suffering from high myopia. Studies indicate that myopia is rapidly becoming one of the leading causes of blindness worldwide, underscoring the growing need for advanced ophthalmic technologies to address this escalating public health concern.

Ophthalmic Devices Market Drivers:

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Increasing prevalence of myopia

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Rising geriatric population resulting in rising prevalence of ocular diseases

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Scope of the Ophthalmic Devices Market Report:

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Coverage: Global

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Study Period: 2022 to 2030

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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.

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About DelveInsight

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Our expert healthcare consulting services offer in-depth market analysis, helping businesses accelerate growth and navigate challenges with actionable, results-driven strategies.

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