Ophthalmic Devices Market Set to Soar Past USD 8.14 Billion by 2030 | Skyquest Technology

The global Ophthalmic Devices market size is expected to reach USD 8.14 billion by 2030 and exhibit a CAGR of 5% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing prevalence of eye disorders and conditions, the rising aging population worldwide, the growing demand for advanced diagnostic and surgical procedures, and continuous technological advancements in ophthalmic devices are fueling the market's growth.

Westford,USA, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest's latest global research of the Ophthalmic Devices market, advancements in telemedicine and remote eye care, increasing integration of artificial intelligence and machine learning in ophthalmic devices, growing use of virtual reality and augmented reality in ophthalmic diagnostics and training, rising focus on personalized medicine and customized treatment options, expanding adoption of wearable ophthalmic devices for continuous monitoring, development of minimally invasive and non-invasive treatment technologies, rising demand for home-based ophthalmic devices and self-monitoring tools, are the trends that aid in the market's growth.

Browse in-depth TOC on "Ophthalmic Devices Market"

  • Pages - 260
  • Tables - 61
  • Figures - 75

Ophthalmic devices are medical devices used in the diagnosis, treatment, and prevention of eye diseases. They include a wide range of products, such as glasses, contact lenses, intraocular lenses, surgical lasers, and diagnostic tools. Ophthalmic devices play a vital role in improving vision and quality of life for people with eye diseases.

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Prominent Players in Ophthalmic Devices Market

  • Alcon
  • Bausch Health Companies
  • Carl Zeiss Meditec
  • EssilorLuxottica
  • Johnson & Johnson
  • Hoya Corporation
  • The Cooper Companies
  • Canon
  • Glaukos Corporation
  • Nidek Co., Ltd.
  • Topcon Corporation
  • Ziemer Ophthalmic Systems
  • Staar Surgical
  • Haag-Streit
  • Quantel Medical
  • Coburn Technologies
  • FCI Ophthalmics
  • Matronix India Corporation
  • HEINE Optotechnik
  • Visionix

Optical Coherence Tomography (OCT) Machines Demand to Grow Substantially in the Forecast Period

Optical coherence tomography (OCT) machines dominate the global online market as they are widely used diagnostic devices for various eye conditions, including glaucoma, macular degeneration, and diabetic retinopathy. Its non-invasive imaging capabilities and ability to provide high-resolution cross-sectional images of ocular structures have made it a crucial tool in ophthalmology. Advancements in OCT technology, such as swept-source OCT and enhanced imaging capabilities, could contribute to its dominance.

Cataract Diagnosis and Surgery is the Leading Application Segment

In terms of application, cataract diagnosis and surgery is the leading segment as cataract surgery is one of the most common ophthalmic procedures globally. As the aging population continues to increase, the demand for cataract surgery devices and intraocular lenses (IOLs) is expected to grow substantially. Technological advancements in IOL materials and surgical techniques could further drive the sales of devices related to cataract diagnosis and treatment.

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North America is the leading Market Due to the Technological Advancements

Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. Consumers in North America have embraced online shopping across various sectors, including groceries. There is a high level of digital literacy and comfort with online transactions among North American consumers. This consumer readiness and willingness to adopt Ophthalmic Devices shopping have contributed to the region's dominance.

A recent report thoroughly analyzes the major players operating within the Ophthalmic Devices market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Ophthalmic Devices.

Key Developments in Ophthalmic Devices Market

  • In January 2023, Johnson & Johnson acquired Sight Sciences, which develops and markets ophthalmic devices to treat glaucoma. The acquisition was valued at $1.4 billion.
  • In March 2023, Bausch Health Companies acquired TearScience, which develops and markets ophthalmic products to treat dry eye disease. The acquisition was valued at $875 million.

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Key Questions Answered in Ophthalmic Devices Market Report

  • What specific growth drivers are projected to impact the market during the forecast period?
  • Can you list the top companies in the market and explain how they have achieved their positions of influence?
  • In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?

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