2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

What Major Innovations Are Driving the Accelerated Growth of the Ophthalmic Devices Market?

The increasing incidence of eye diseases is expected to drive the growth of the ophthalmic device market. Disorders like age-related macular degeneration (AMD), glaucoma, and cataracts are leading causes of visual impairment and blindness. Ophthalmic devices are essential for diagnosing and treating these conditions. For instance, in August 2024, the National Health Service reported that NHS-funded sight tests in the UK reached a record high of over 841,000 in 2024, reflecting a 6.6% increase from 2023. This rise in eye-related diseases is boosting the demand for ophthalmic devices.

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How Will the Growth Rate of theOphthalmic Devices Market Impact Industry Trends by 2034?

The ophthalmic devices market size has grown rapidly in recent years. It will increase from $46.68 billion in 2024 to $51.75 billion in 2025, at a compound annual growth rate (CAGR) of 10.9%. The growth is attributed to the aging population, the rise in eye diseases, regulatory changes, and the expansion and improvement of healthcare infrastructure.

The ophthalmic devices market is projected to experience robust growth in the coming years, reaching $70.64 billion by 2029 with a compound annual growth rate (CAGR) of 8.1%. Growth during the forecast period will be driven by increasing diabetes prevalence, expansion of telemedicine, growth in emerging economies, minimally invasive procedures, and advancements in genetics and personalized treatments. Key trends will include AI and machine learning, wearable devices, teleophthalmology, eco-conscious product development, and a focus on patient-centered care.

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What Are the Current Market Growth and Trends in theOphthalmic Devices Market That Industry Players Should Watch?

Technological advancements are becoming a key trend in the ophthalmic devices market, with major companies focusing on introducing new technologies to improve diagnosis and treatment. For example, in March 2022, Alcon, a Swiss-American pharmaceutical and medical device company, launched the Clareon family of intraocular lenses (IOLs) in the U.S. Clareon lenses feature glistening-free IOL material, providing sharp, crisp vision and reducing glare and posterior capsular opacification.

What Are the Top Market Players Propelling the Growth of theOphthalmic Devices Industry?

Major companies operating in the ophthalmic devices market include 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, Rostec State Corporation, Alcon Inc., EssilorLuxottica, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Roche Holding AG, Takeda Pharmaceuticals, AbbVie Inc., Otsuka Pharmaceutical Co. Ltd., Edwards Lifesciences Corp., Santen Pharmaceutical Co. Ltd., Rohto Pharmaceutical Co. Ltd., Veeva System Inc., Recipharm AB, Menicon Co. Ltd., Chengdu Kanghong Pharmaceutical, Bangladesh Export Import Company Limited, Glaukos Corporation, STAAR Surgical Company, Omeros Corporation, Aerie Pharmaceuticals Inc., Alimera Sciences Inc., Bora Pharmaceuticals Co. Ltd., Iridex.

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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 #What Major Innovations Are Driving the Accelerated Growth of the Ophthalmic Devices Market?# 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.

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