Dublin, July 25, 2023 (GLOBE NEWSWIRE) -- The "Ophthalmic Devices Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
According to the report, the Global Ophthalmic Devices Market is projected to achieve a Compound Annual Growth Rate (CAGR) of 5.98% from 2022 to 2030. This growth is driven by factors such as lifestyle changes, higher per capita income, favorable reimbursement policies, and increased accessibility to ophthalmic procedures.
Ophthalmology, the specialized branch of medical science dedicated to the study and treatment of eye diseases, heavily relies on advanced ophthalmic devices for diagnosis, surgical procedures, and vision correction. As the prevalence of eye conditions such as glaucoma, cataracts, and other vision-related issues continues to rise globally, the demand for high-quality eye care services has seen significant growth. The escalating incidence of vision disorders has fueled the adoption of innovative ophthalmic devices to meet the needs of patients worldwide.
Among the ophthalmic devices, Optical Coherence Tomography (OCT) scanners have emerged as a frontrunner, commanding the highest market share in the Diagnostic & Monitoring segment. OCT technology enables detailed cross-sectional visualization of the eye, facilitating precise diagnosis and monitoring of various eye conditions such as glaucoma, macular degeneration, and diabetic retinopathy.
Cataract surgery devices hold the highest market share in the Surgical segment due to the increasing number of cataract cases worldwide. Technological advancements have resulted in improved surgical techniques and better outcomes, driving the market for cataract surgery devices.
The Vision Care segment, particularly Contact Lenses, is experiencing rapid growth and is considered the fastest-growing segment in the global ophthalmic devices market. Advancements in lens materials, such as silicone hydrogel, have contributed to increased adoption among individuals seeking an alternative to traditional eyeglasses.
Consumers are the largest end-users of ophthalmic devices and play a crucial role in driving the market. Factors like an aging population, lifestyle changes, and growing awareness about eye health have fueled the demand for these devices among consumers.
The United States is projected to have the highest market share in the global ophthalmic devices market in the upcoming years. Its robust healthcare infrastructure, technological advancements, and high healthcare expenditure contribute to its dominant position in the market.
As consumers continue to prioritize their visual health, they will continue to shape the global ophthalmic devices market through their preferences and demands. The ophthalmic devices industry strives to meet the growing demand for innovative solutions in surgical and vision care, ensuring improved eye health and an enhanced quality of life for individuals worldwide.
The report highlights various segments of the ophthalmic devices market:
- Diagnostic & Monitoring Devices: This segment includes Fundus Camera, Optical Coherence Tomography Scanner, Tonometer, and others. Optical Coherence Tomography (OCT) scanners hold the highest market share in this segment due to their non-invasive nature, high resolution, and real-time imaging capabilities.
- Surgical Instruments Devices: This segment includes Refractive Error Surgery Devices, Glaucoma Surgery Devices, Cataract Surgery Devices, and Retinal Surgery Devices. Cataract surgery devices dominate this segment, driven by the increasing number of cataract cases worldwide.
- Vision Care Products: This segment includes Contact Lenses and others. Contact lenses are the fastest-growing segment, driven by their convenience, comfort, and ability to correct various vision impairments.
- End Use: This segment includes Hospitals, Specialty Clinics, Ambulatory Surgery Centers, Consumers, and others. Consumers hold the highest market share as they directly influence the market demand through their preferences and needs.
- Country: The United States is expected to have the highest market share due to its robust healthcare infrastructure, technological advancements, and high healthcare expenditure.
The report provides insights into key players in the market, such as Johnson & Johnson, Topcon Corporation, Canon Inc., Alcon Inc., STAAR Surgical Co, Glaukos Corporation, and IRIDEX Corporation.
Companies Mentioned
- Johnson & Johnson
- Topcon Corporation
- Canon Inc.
- Alcon Inc.
- STAAR Surgical Co
- Glaukos Corporation
- IRIDEX Corporation
Overall, the global ophthalmic devices market is driven by factors like lifestyle changes, aging populations, and increasing awareness about eye health, leading to a growing demand for innovative solutions in surgical and vision care.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 195 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $43.13 Billion |
| Forecasted Market Value (USD) by 2030 | $68.64 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/o67og0
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
