Ophthalmic Equipment Market Forecast, Competitive Landscape, Growth Factors, Trends and Research Report: Product (Ophthalmology Surgical Devices, Vitreoretinal Surgical Devices, Refractive Surgical Devices, Diagnostic Monitoring Devices), Application, End-User (Ophthalmology Clinics)
The Ophthalmic Equipment Market is expected to reach USD 63.9 Billion by 2030 at 5.10% CAGR during the forecast period 2022-2030.
The market in Asia Pacific is expected to grow rapidly in the coming years. Based on a detailed study and analysis, it is found that this region has a good growth potential due to the increasing unhealthy eating habits and unhygienic conditions. Major factors driving the market are increasing geriatric population and increasing healthcare expenditure. On the other hand, low awareness in developing and underdeveloped regions regarding ophthalmic diseases may hamper the market growth during the forecast period.
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Segmentation
On the basis of product, the market is segmented into vision care devices, ophthalmology surgical devices, diagnostic and monitoring devices, and others. Vision care devices a segmented into spectacles and contact lens. Contact lenses are further segmented into soft contact lenses, Rigid Gas Permeable lenses (RGP), and hybrid contact lenses. Ophthalmology surgical devices are segmented into cataract surgical devices, vitreoretinal surgical devices, refractive surgical devices, glaucoma surgical devices, ophthalmic microscopes, ophthalmic accessories, and others. Cataract surgical devices are further segmented into Intraocular Lenses (IOLS), Ophthalmic Viscoelastic Devices (OVDS), phacoemulsification devices, cataract surgical lasers, and others. The vitreoretinal surgical devices segment is further segmented into vitreoretinal packs, vitrectomy machines, photocoagulation lasers, illumination devices, vitrectomy probes, and others. The refractive surgical devices segment is further segmented into femtosecond lasers, excimer lasers, and others. Glaucoma surgical devices are further segmented into Glaucoma Drainage Devices (GDDS), and micro-invasive glaucoma surgical devices. Ophthalmic accessories are further segmented into surgical ophthalmic instruments and kits, ophthalmic forceps, ophthalmic spatulas, ophthalmic tips and handles, ophthalmic scissors, macular lenses, ophthalmic cannulas, and others. Diagnostic and monitoring devices are segmented into optical coherence tomography scanners, fundus cameras, perimeters/visual field analyzers, autorefractors and keratometers, ophthalmic ultrasound imaging systems, tonometers, slit lamps, phoropters, wavefront aberrometers, optical biometry systems, ophthalmoscopes, lensmeters, corneal topography systems, chart projectors, specular microscopes, retinoscopes, and others. Ophthalmic ultrasound imaging systems are further segmented into ophthalmic A-scan ultrasound, ophthalmic b-scan ultrasound, ophthalmic ultrasound biomicroscopes, and ophthalmic pachymeters.
On the basis of application, the market is segmented into glaucoma, amblyopia, cataract, retinal detachment, and others.
On the basis of end-user, the market is segmented into hospitals, ophthalmology clinics, diagnostic centers, research centers, and others.
Regional Analysis
The Americas dominates the global ophthalmic equipment market owing to the increasing prevalence of ophthalmic diseases and presence of a well-developed healthcare sector within the region. Moreover, the increasing healthcare expenditure and presence of key players within the regional boundaries provide a favorable background for the market growth.
Europe is the second largest in the global ophthalmic equipment market. Factors such as the increasing availability of funds for research and a huge patient population followed by a well-developed healthcare sector drive the market within the region.
Asia Pacific is estimated to be the fastest growing market for ophthalmic equipment. This can be attributed to the presence of developing economies such as India and China and a huge patient population suffering from ophthalmic diseases. Moreover, the increasing healthcare expenditure and a rapidly developing healthcare sector boost the market growth within the region.
On the other hand, the Middle East and Africa has the least share in the global ophthalmic equipment market due to the low per capita healthcare expenditure and stringent government policies, especially within the African region. It is estimated that the Middle East holds a majority of the market within the Middle Eastern and African region.
Key Players
Some of the key players in this market are Alcon (U.S.), Bausch Lomb (U.S.), Carl Zeiss Meditec (Germany), Johnson Johnson (U.S.), Essilor International S.A. (France), Haag-Streit (Switzerland), Nidek (Korea), Staar Surgical (U.S.), Topcon Corporation (Japan), Ziemer Ophthalmic Systems (Switzerland), Hoya Corporation (Japan), Ridex Corporation (U.S.), and others.
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