Ophthalmic Devices Market Size [2022] | to Reach USD 32.36 Billion by 2028, exhibiting a CAGR of 4.2%

The global ophthalmic devices market size was USD 25.04 billion in 2020 & is projected to reach USD 32.36 billion by 2028, exhibiting a CAGR of 4.2% in forecast period.


Pune, India, Feb. 20, 2022 (GLOBE NEWSWIRE) -- The ophthalmic devices market size is expected to showcase an exponential growth by reaching USD 32.36 billion by 2028 while exhibiting a CAGR of 4.2% between 2021 and 2028.

Fortune Business Insights specializes in producing market research reports for the Healthcare industry, offering in-depth analysis of the industry drivers, trends, and restraints, and detailed insights into the future prospects along with a comprehensive evaluation of the historical performance of the industry. Fortune Business Insights provides detailed profiles of the companies operating in this domain and enables new entrants to strategize in an informed manner.

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Market Growth Reasons:

  • Higher Demand in COVID-19 Pandemic to Propel Growth
  • Product Innovations and Regional Expansions to Augment Market Growth
  • Growing Research & Development Investments and Increasing New Product approvals to Drive Market Growth
  • Robust Product Offerings by Key Players to Propel Industry Growth
  • Strategic Partnerships Coupled with Strong Brand Presence to Foster Company Growth

Ophthalmic Devices Market Report Scope & Segmentation:

Report CoverageDetails
Forecast Period2021 to 2028
Forecast Period 2021 to 2028 CAGR4.2%
2028 Value ProjectionUSD 32.36 Billion
Base Year2020
Market Size in 2020USD 25.04 Billion
Historical Data for2017 to 2019
No. of Pages150
Segments coveredBy Surgical, Vision Care, Regions, End User

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The developing frequency of eye issues, for example, waterfall and near-sightedness is driving the interest for the presentation of cutting edge gadgets across the globe. As indicated by the World Health Organization (WHO), near-sightedness is the most well-known visual problem that influences 1.89 billion individuals, and it is assessed that over 2.56 billion will experience the ill effects of this issue by 2020 across the globe.

The Ophthalmic Devices Market is united by the presence of significant organizations like Alcon, Bausch and Lomb, and Johnson and Johnson. The predominance of these organizations is attributable to the expanding center around creating inventive ophthalmic gadgets that are relied upon to support their business income and unite their situations in the worldwide commercial center.

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Further Report Findings:

North America is relied upon to overwhelm and stand firm on the most elevated foothold in the worldwide market in the approaching years. This is owing to the presence of laid out organizations that are zeroing in on creating imaginative gadgets in nations like the U.S. The market remained at USD 10.54 billion of every 2019.

The Ophthalmic Devices Market in Europe is expected to encounter a huge development attributable to the expanding reception of intraocular waterfall focal points (IOLs) to treat individuals experiencing nearsightedness and waterfall in the area somewhere in the range of 2020 and 2027.

The vision care segment, in view of item, is expected to exhibit a significant development during the gauge time frame. This is ascribable to elements, for example, the expanding reception of contact focal points to treat vision eye infections across the globe.

Regional Analysis:

North America is relied upon to stay at the front and stand firm on the most elevated foothold in the worldwide ophthalmic gadgets market during the figure time frame. This is owing to the expanding reception of cutting edge innovation to foster these gadgets, for example, an intraocular focal point for treating waterfall illness. The locale remained at USD 10.54 billion out of 2019.

The Ophthalmic Devices Market in Europe is expected to exhibit a remarkable development inferable from the expanding center by significant organizations to foster inventive items to treat eye issues.

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List of the Companies Operating in the Global Market:

  • Alcon (Geneva, Switzerland)
  • Carl Zeiss Meditec (Oberkochen, Germany)
  • Johnson & Johnson Vision Care, Inc.  (Jacksonville, U.S.)
  • The Cooper Companies Inc.  (California, U.S.)
  • BVI (Waltham, U.S.)
  • Bausch & Lomb Incorporated (Rochester, U.S.)
  • Essilor (California, U.S.)
  • Hoya Corporation (Tokyo, Japan)
  • NIDEK CO., LTD (Gamagori, Japan)

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