Ophthalmology Devices Market By Product (Ophthalmic Surgical Devices, Ophthalmic Diagnostic Devices, Ophthalmic Vision Care Devices), By Application (Surgical Devices, Vision Care, Diagnostics And Monitoring), By End Users (Consumers, Hospitals, Specialty Clinics And Ambulatory Surgery Centers) and Region, Global Forecast 2018 to 2028.

The global ophthalmology devices market size was valued at USD 18,186.7 million in 2018 and expected to expand at a CAGR of 4.1% from 2019 to 2025. The global ophthalmology devices market is growing, due to the rising world’s ageing population, technological advancements and increasing prevalence of various eye related diseases such as cataract, refractive error and others across the world. In addition, the factors such as reimbursement policies, and the growing public demand for better visual outcomes can push the market over the next few years

Ophthalmology devices are used for the diagnosis and treatment of eye disorders. These devices helps to decrease treatment time and offers quality eye care by ensuring more convenient eye care treatment process for patients and ophthalmologists. Technological advancement and new product development in ophthalmology devices is one of the prominent growth strategy to improve the patient’s comfort level during and after the treatment. Ophthalmology devices engrosses the largest share in the market due to increasing prevalence of various eye related diseases such as cataract, diabetic retinopathy,  glaucoma, refractive error and others is one of the prominent factor. Ophthalmology devices consists of advanced technologies such as artificial intelligence (AI), internet of things (IOT) driven ophthalmology devices, femtosecond lasers and multifocal intraocular lenses which is expected to provide growth opportunities for the market over the next few years.

At a compound annual growth rate of 3.7%, the size of the worldwide Ophthalmology Devices market is projected to reach USD 70.6 Billion in 2028.

Traditionally, eyeglasses were used as a device for correcting refractive error. However, with technological advancements and shifting consumer preference from eyeglasses due to their cosmetic looks is one of the prominent factors that accentuates the uptake of contact lens or laser surgery. Furthermore, increasing population in emerging economies and rising adoption of digital devices propels the need for eye gear and eye care. These factors are expected to drive the demand for ophthalmology devices over the next few years. However, shortage of ophthalmologist in developing countries hinder the overall growth of ophthalmology devices market at a global level.

Cataract devices are widely used over other ophthalmology devices as cataract is been identified as one of the prominent eye disease which affects the patient population. Development of cataract in an individual can be due to many reasons some of them are age, metabolic disorders, consumption of toxic agents, sunlight exposure, and prolonged exposure to radiation.  Over the next few years, the number of cataract sufferers will increase due to changing lifestyle. Division of the global ophthalmology device market into five major continents shows that North America is at the leading position with the highest CAGR in 2018 making up nearly 33% of the total market share.

Ophthalmology Devices Market Scope

Key segments of the global ophthalmology devices market

Device Type Overview (USD Billion)

• Cataract Devices
  • Intraocular Lens (IOL)
  • Phacoemulsification
• Refractive Error Devices
  • Contact Lens
  • Excimer Laser
• Other Devices

Regional Overview, (USD Billion)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Russia
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • Korea
  • India
  • South east Asia
  • Rest of Asia Pacific
• South America, Middle-East & Africa
  • Brazil
  • Egypt
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of the World

Reasons for the study

• The purpose of the study is to give an exhaustive outlook of the global ophthalmology devices industry.

• We have been following the overall segmentation of ophthalmology devices market. The increasing prevalence of eye diseases and rising awareness is expected to drive the market.

• Rising healthcare awareness and increasing disposable income are also the prominent factors supporting the growth of the global ophthalmology devices market.

What does the report include?

• The study on the global ophthalmology devices market includes qualitative factors such as drivers, restraints, and opportunities

• Additionally, the market has been evaluated using the value chain and Porter’s Five Forces’ analysis

• The study covers qualitative and quantitative analysis of the market segmented on the basis of devices and region. Moreover, the study provides similar information for the key geographies.

• Actual market sizes and forecasts have been provided for all the above-mentioned segments

• The study includes the profiles of key players in the market with a significant global and/or regional presence

Who should buy this report?

This study is suitable for industry participants and stakeholders in the ophthalmology devices Industry. The report will benefit:

• Executives of ophthalmology devices companies that are engaged in the distribution and marketing

• Managers within financial institutions looking to publish recent and forecasted statistics pertaining to ophthalmology devices

• Venture capitalist looking into investing capital

• Government organizations, regulatory authorities, policymakers and financial organizations looking for innovative solutions.

• Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies