Discover trends, market shifts, and competitive outlooks for the ophthalmic devices industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Has The Ophthalmic Devices Market Growth Evolved From 2024 To 2025, And What’s Ahead?

In the last few years, the ophthalmic devices market has seen rapid expansion. This market is expected to increase from $46.68 billion in 2024 to $51.75 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.9%. The significant growth witnessed in the historical period can be traced back to factors such as an older population, the rise in eye diseases, regulatory modifications, and the enhancement and growth of healthcare infrastructure.

Anticipations reveal a robust escalation in the market size of ophthalmic devices in the coming years, eventually reaching a valuation of $70.64 billion by 2029. This inclination will be at a compound annual growth rate (CAGR) of 8.1%. The surge during the forecast period is anticipated due to factors like increasing diabetes incidence, advancements in telemedicine and remote monitoring, emerging market expansion, minimal invasive surgeries, and progress in genetics along with personalized medicine. Additionally, the period is set to witness prime trends such as artificial intelligence (AI) and machine learning, wearable tech, teleophthalmology, environment-friendly devices, and a patient-centered care approach.

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What Are the Primary Drivers Supporting the Market Growth of the Ophthalmic Devices Market?

The escalating frequency and prevalence of eye diseases are anticipated to propel the ophthalmic device market’s expansion. Eye ailments like age-related macular degeneration (AMD), glaucoma, and cataracts are increasingly becoming significant sources of vision impairment and blindness worldwide. Ophthalmic equipment is instrumental in diagnosing, administering treatment, and managing an array of eye disorders and conditions. For example, as per the National Health Service, a public sector institution, in 2024, the number of NHS-funded eye tests peaked at over 841,000, indicating a 6.6% surge relative to 2023. The escalating frequency and prevalence of anomalies related to the eye are likely to stimulate the utilization of ophthalmic devices for diagnosing and treating diseases related to the eye.

Which Primary Segments of the Ophthalmic Devices Market Are Driving Growth and Industry Transformations?

The ophthalmic devices market covered in this report is segmented –

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 Type of Expenditure: Public, Private

3) By Product: Instruments/Equipment, Disposables

4) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users

Subsegments:

1) By Vision Care Devices And Equipment: Eyeglasses, Contact Lenses, Low Vision Aids

2) By Cataract Surgery Devices And Equipment: Cataract Surgery Instruments, Cataract Surgery Implants (Intraocular Lenses), Cataract Surgery Devices (Phacoemulsification Systems)

3) By Refractive Surgery Devices And Equipment: LASIK Devices, SMILE Surgery Devices, PRK Surgery Devices

4) By Diagnostic And Monitoring Ophthalmic Devices And Equipment: Fundus Cameras, Optical Coherence Tomography (OCT) Scanners, Perimeters, Retinal Imaging Systems, Slit Lamps

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Which Regions Are Key Players in the Growth of the Ophthalmic Devices Market?

North America was the largest region in the global ophthalmic devices market in 2023. Asia-Pacific was the second largest region in the global ophthalmic devices market. Africa. was the smallest region in the global ophthalmic devices market. The regions covered in the ophthalmic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

What Key Market Trends and Innovations Are Shaping the Future of the Ophthalmic Devices Industry?

The rise of technological innovations has become a significant trend in the ophthalmic devices industry. Numerous prominent businesses in this sector are concentrating on incorporating new technologies like automated and sophisticated platforms to enhance diagnostic and therapeutic processes. For example, Alcon, a pharmaceutical and medical device firm that is based in both Switzerland and America, unveiled its Clareon line of intraocular lenses (IOLs) in the United States in March 2022. The Clareon lenses possess a material that is devoid of glistening and provides clear, sharp vision. Further, their unique edge design assists in minimizing glare and posterior capsular opacification.

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What Parameters Are Used to Define the Ophthalmic Devices Market?

Ophthalmology is a branch of medicine that focuses on the diagnosis, treatment, and prevention of diseases and disorders related to the eyes and visual system. Ophthalmic devices are used in the diagnosis and treatment of eye-related diseases. Ophthalmologists are medical doctors who specialize in eye care, including performing eye exams, prescribing corrective lenses, diagnosing eye conditions, and performing surgeries.

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