Ophthalmology Surgical Devices Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3872
Ophthalmology Surgical Devices Market size is projected to show high growth from 2019 to 2025.
Ophthalmology surgical devices market is witnessing high growth rate due to rising incidence of eye disorders. Risk factors responsible for eye disorders are diabetes mellitus and high body mass index. Increasing prevalence of cataract, trachoma, glaucoma and other cornea related diseases due to prolonged exposure of U.V. radiations will lead to high demand for ophthalmological devices during the analysis period. As per the WHO, nearly 1.3 billion people suffer from some form of vision impairment and the leading causes for these conditions is cataract and uncorrected refractive errors. Aforementioned factors are responsible for a significant market growth over the forecast timeframe.
Increasing ageing population has a direct impact on the ophthalmology surgical market growth. Availability of non-invasive and less painful eye surgeries is a major reason for growing demand of ophthalmology surgical devices. Moreover, technological advancements resulting in increased efficiency of these surgical devices to deliver positive and accurate results post-surgery will positively impact industry growth.
Youth being exposed to devices such as mobiles, laptops and computers has increased the prevalence of eye disorders giving rise to elevated product demand. However, high cost associated with the laser treatment may hamper the demand for eye surgery. Furthermore, post-surgery risks such as damaged vision will hinder the overall market growth over the coming years.
Cataract surgical devices are experiencing highest demand due to increasing geriatric population base suffering from diabetes and other diseases impacting eyes. The demand for cataract surgeries will increase over the forecast period due to availability of non-invasive treatments. Awareness amongst the population about high-end surgical devices has supported the market growth. Growing adoption of cataract surgeries in developing countries such as India and China will boost the Ophthalmology Surgical Devices Market growth over the coming years.
Increase in number of ophthalmic clinics and growing adoption of ophthalmology surgical devices has boosted the market demand over the years. Rising prevalence of cataract and other ophthalmic disorders have generated demand for surgical devices leading to an overall industry growth. Government initiatives encouraging the development of ophthalmic clinics has further increased the demand for ophthalmic surgical devices.
U.S. will dominate the ophthalmology surgical devices market due to increasing incidence of eye disorders and growing geriatric population base in the country. Lifestyle changes and sedentary style of working has led to increase in obesity amongst the individuals impacting the market growth positively. Technological advancements have further aided in market growth by providing efficient devices for eye surgeries. China ophthalmology surgical devices market is projected to witness significant growth during the forecast period as cataract surgeries are extensively carried out in the country generating considerable demand for ophthalmology surgical devices.
Some of the major industry players operating in ophthalmology surgical devices market share include Alcon, Johnson & Johnson Vision Care, Glaukos Corporation, Bausch & Lomb, Carl Zeiss, HOYA Corporation, IRIDEX Corporation, NIDEK, Lumenis, and STAAR Surgical Company. Presently, companies are focusing on rising awareness about their product to increase their customer base as well as escalate position in the market. For instance, In March 2018, Bausch & Lomb developed a website for ophthalmic surgeons, as ophthalmic surgeons are one of the major end users driving the market demand for ophthalmic devices. The strategy helped in increasing awareness amongst the surgeons and making business more profitable.
Ophthalmology Surgical Devices Market, by Product, 2014-2025 (USD Million)
- Cataract surgery devices
- Intraocular lenses
- Ophthalmic viscoelastic devices
- Glaucoma surgery devices
- Vitreoretinal surgery devices
- Refractive surgery devices
Ophthalmology Surgical Devices, by End-use, 2014-2025 (USD Million)
- Ophthalmic clinics
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Bausch & Lomb
- Carl Zeiss Meditec
- Glaukos Corporation
- HOYA Corporation
- IRIDEX Corporation
- Johnson & Johnson Vision Care
- STAAR Surgical Company
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