Meticulous Research®—a leading global market research company, published a research report titled ‘Ophthalmic Equipment Market by Product Type (Vision Care, Surgical Devices {Refractive, Cataract, Vitreoretinal, Glaucoma, Accessories}, Diagnostic {Retinoscope, Tonometer, Ultrasound}), End User (Consumer, Clinic, Hospital) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the global ophthalmic equipment market is projected to reach $61.58 billion by 2030, at a CAGR of 4.4% during the forecast period. Growing prevalence of eye diseases and disorders like cataracts, glaucoma, obesity and diabetes, age-related macular degeneration (AMD), visual impairment due to excessive use of digital devices, rising geriatric population, and rising government initiatives and funding to improve accessibility to eye care services are the factors driving the growth of this market.
Ophthalmic Equipment Market: Future Outlook
The global ophthalmic equipment market is segmented by Product Type (Vision Care Products [Spectacles, Contact Lenses {Soft Contact Lenses, Rigid Gas Permeable Lenses, Hybrid Contact Lenses}], Surgical Devices [Cataract Surgical Devices {Intraocular Lenses, Ophthalmic Viscoelastic Devices, Cataract Surgical Lasers, Phacoemulsification Devices, IOL Injectors}, Refractive Surgical Devices {Excimer Lasers, Femtosecond Lasers, Other Refractive Surgical Lasers}, Vitreoretinal Surgical Devices {Vitrectomy Machines, Illumination Devices, Vitreoretinal Packs, Photocoagulation Lasers, Vitrectomy Probes}, Glaucoma Surgical Devices {Glaucoma Laser Systems, Glaucoma Drainage Devices, Microinvasive Glaucoma Surgery Devices}, Ophthalmic Microscopes, Ophthalmic Surgical Accessories {Surgical Instruments & Kits, Ophthalmic Spatulas, Ophthalmic Tips & Bundles, Ophthalmic Forceps, Ophthalmic Scissors, Macular Lenses, Ophthalmic Cannulas, Ophthalmic Surgical Accessories}], Diagnostic & Monitoring Devices [Fundus Cameras, Optical Coherence Tomography Scanners, Visual Field Analyzers/Perimeters, Keratometers/Autorefractors, Ophthalmic Ultrasound Imaging Systems {A-Scan Ultrasound Imaging Systems, Scan Ultrasound Imaging Systems, Pachymeters, Ultrasound Microscope}, Slit Lamps, Tonometer, Wavefront Aberrometers, Optical Biometery Systems, Ophthalmoscopes, Lensometers, Chart Projectors, Optical Biometry Systems, Retinoscopes]), End User (Hospitals & Clinics, Ambulatory Surgical Centers, Consumers, Research Institutes & Academics, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market shares at the regional and country levels.
Based on product type, in 2023, the vision care segment is expected to account for the largest share of the ophthalmic equipment market. Fast-growing use of premium reusable lenses and daily disposable contact lenses fueled by improved health and comfort, advancements in specialty lenses and increasing demand for multifocal, toric, and cosmetic lenses; growing consumption and access of vision care products in developing countries like India and China; and increasing accessibility of vision care products to consumers through distribution models, direct-to-consumer channels, including internet sales are some of the factors supporting this segment’s large market share.
Based on end user, in 2023, the consumer segment is expected to account for the largest share of the ophthalmic equipment market. The rising aging population and its growing eye care needs; improved quality of eye care, including vision correction; increasing purchasing power; and rising prevalence of progressive myopia, myopia, and digital eye strain, are some of the prominent factors supporting this segment’s large market share.
Geographic Review
This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
In 2023, North America is expected to account for the largest share of the global ophthalmic equipment market, followed by Europe and Asia-Pacific. The U.S. is expected to be the largest shareholding market in North America in 2023. The large share of this market is primarily driven by the high prevalence of eye diseases and disorders, the presence of key players, and the high awareness regarding vision care in the region.
Key Players
The key players operating in the global ophthalmic equipment market are Bausch Health Companies Inc. (Canada), Carl Zeiss Meditec AG (Germany), EssilorLuxottica (France), Alcon Inc. (U.S.), The Cooper Companies, Inc. (U.S.), Johnson & Johnson Vision Care, Inc. (U.S.), HEINE Optotechnik GmbH & Co. KG (Germany), Glaukos Corporation (U.S.), Ziemer Ophthalmic Systems AG (Switzerland), and Nidek Co., Ltd. (Japan).
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Key questions answered in the report-
• Which are the high-growth market segments in terms of product type, end user, and regions/countries?
• What was the historical market for ophthalmic equipment across the globe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, challenges, opportunities, and trends in the global market of ophthalmic equipment?
• Who are the major players in the global ophthalmic equipment market?
• How is the competitive landscape, and who are the market leaders in the global ophthalmic equipment market?
• What are the recent developments in the ophthalmic equipment market?
• What are the different strategies adopted by the major players in the ophthalmic equipment market?
• What are the geographical trends and high growth regions/countries for this market?
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