The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s ophthalmic devices market report forecasts the ophthalmic devices market size to grow to $51.12 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

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Ophthalmic Devices Market Size Forecast
The global ophthalmic devices market is expected to grow from $36.36 billion in 2022 to $39.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ophthalmic devices market is expected to grow to $51.12 billion in 2027 at a CAGR of 6.8%.

North America held the largest ophthalmic devices market share.

Key Ophthalmic Devices Market Driver ­– Rise In Cases Of Cataract Surgeries
A femtosecond laser emits optical pulses with a duration of below 1 ps (ultrashort pulses), i.e., in the domain of femtoseconds (1 fs = 10-15 s). The medical procedure using this laser is done under computer-guided OCT imaging, hence there is higher control and reliability of the incisions concerning size, shape, and location than conventional procedures. This process also reduces the risk associated with a human error during the surgery and has a shorter recovery period. Major companies manufacturing femtosecond laser ophthalmic equipment are Myalcon and Precision Lens.

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Key Ophthalmic Devices Market Trend – Adopting Robotic-Assisted Eye Surgeries
Robotic-assisted eye surgeries are being widely used by healthcare service organizations to improve treatment outcomes. Robot-assisted surgeries allow surgeons to perform complex eye operations with improved precision, amplified scale of motion, reduced tremor, task automation, and flexibility. For instance, the mechatronics and control laboratory and the Jules stein eye institute together developed an intraocular robotic interventional and surgical system (IRISS) which is capable of performing both anterior and posterior intraocular surgery. This system consists of master surgical manipulators to manipulate two surgical instruments simultaneously through tiny ocular incisions and microscope-mounted cameras for 3-D teleoperated surgical visualization. Preceyes BV also developed PRECEYES Surgical System to perform robot-assisted operations inside the eye.

Ophthalmic Devices Market Segment
1) By Type: Vision Care Devices And Equipment, Cataract Surgery Devices And Equipment, Refractive Surgery Devices And Equipment, Diagnostic And Monitoring Ophthalmic Devices And Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables

Ophthalmic Devices Market Major Players and Strategies
Major players in the ophthalmic devices market are Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG, Bausch Health, Companies Inc., Carl Zeiss AG, Flex Ltd., Nidek Co. Ltd., Topcon Corporation, and Rostec State Corporation.

The Ophthalmic Devices Global Market Report 2023 covers regional data on ophthalmic devices market size, ophthalmic devices market trends and drivers, opportunities, strategies, and ophthalmic devices market competitor analysis. The countries covered in the ophthalmic devices market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Ophthalmology is a branch of science that deals with the structure, function of eyes. Ophthalmic devices are used in the diagnosis and treatment of eye related diseases.

View More Reports Related To The Ophthalmic Devices Market –
Diagnostic And Monitoring Ophthalmic Devices And Equipment Global Market Report 2023
Ophthalmic Medical Lasers Global Market Report 2023
Cataract Surgery Devices And Equipment Global Market Report 2023

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