Ophthalmology Surgical Devices Market Size, Share, Growth, Trends, Revenue 2021-2030
According to Report, the ophthalmic surgical devices market size is expected to reach USD 14 billion by 2030 and is poised to grow at a noteworthy CAGR of 6% during the forecast period 2021 to 2030.
Surgical devices are used for treatment of various eye-related diseases such as cataract, glaucoma, and refractive error, which pose as a health burden globally. These devices are used mainly when the disease is not diagnosed at an early stage and thus cannot be treated by using eyeglasses or medication. There is an increasing demand for ophthalmic surgical devices to avoid visual impairment and loss of vision, which is increasing at an alarming rate worldwide.
Rising prevalence of cataract is one of the key factors fueling this market. The World Health Organization (WHO) defines cataract as “clouding of the lens of the eye which impedes the passage of light”. The WHO estimates that currently there are approximately 18 million around the world that are blind in both eyes due either to improper surgery or inaccessibility to advanced procedures. While this eye condition mostly occurs as a person ages, the WHO claims that other risk factors such as diabetes, exposure to UV light, and smoking are fast emerging as major grounds for cataract. Moreover, the International Agency for the Prevention of Blindness (IAPB) states that blindness from cataract is around 5% in developed countries and 50% in developing and underdeveloped nations. Increasing demand for ocular treatments from emerging economies is, therefore, expected to lead the Ophthalmic Surgical Devices Market trends in the upcoming decade.
Growing Number of Aged People Worldwide to Prove Beneficial for the Market
According to the WHO, aging is the primary reason for the development of eye diseases and conditions. The condition develops slowly as the strength of the lens in the eye deteriorates with age and diminishes vision. Therefore, as world population ages, the incidence of age-related ocular disorders is likely to rise. According to the Department of Economic and Social Affairs of the UN, by 2050, there will be close to 2.1 billion people crossing the age of 60. Estimates released by AGS Health in Aging Foundation reveal that 20% of the adults above 60 years of age developed cataract in one or both eyes in 2019. Further, Mayo Clinic reports that glaucoma, which occurs due to damaged optic nerve in people over the age of 60, is one of the top causes of blindness in the world. Thus, growing global geriatric population would boost the ophthalmic surgery devices market growth.
Report HIghlights
Based on Surgery Type, the cataract surgery devices segment is expected to hold largest market share in this market in 2020 due to various product offerings of diverse cost range provided by local and leading manufacturers. In Asia-Pacific, an ever-growing demand for cataract surgeries is expected to offer significant opportunities for the growth of the intraocular lens segment as it plays a prominent role in cataract surgeries. The glaucoma surgery devices segment is expected to register a highest CAGR.
Based on End-user, the hospitals segment dominated largest revenue share in 2020 due to higher number of surgeries performed in hospitals compared to clinics and others. Increasing number of cataract and glaucoma surgeries in hospitals is one the predominant factor augmenting the growth of hospitals segment in the market. The trend is anticipated to continue during the forecast period. Certain factors, such as increasing the number of advanced healthcare facilities and evolving healthcare infrastructure in developing countries, are likely to fuel the demand for ophthalmic surgical devices in hospitals.
North America is accounted largest revenue share USD 2.90 billion in 2020. The most favorable factor for the market here is the convenient nature of healthcare policies. Apart from this, increasing prevalence of cataract, glaucoma, and refractive errors, along with strong presence of other risk factors such as smoking and diabetes, will also further the growth of the market in North America.
Asia-Pacific is expected to significantly contribute to the ophthalmic surgical instrument market revenue owing to the rising number of aging people in China and Japan and growing incidence of ocular disorders. In Europe, the market will be driven by active adoption of advanced diagnostic and surgical procedures.
Interesting New Product Launches to Fire up Competitive Spirits
The ophthalmology surgical devices market analysis points towards a period of fierce competition in this market as key players introduce novel products to strengthen their hold on the market. Additional encouragement is being provided by timely regulatory approvals to innovative offerings.
The major players in the ophthalmic surgery devices market include Novartis AG, Abbott Laboratories, Carl Zeiss Meditec AG, Valeant Pharmaceuticals International Inc., and others.
Industry Developments:
August 2019: New World Medical, a renowned company in ophthalmological devices, launched its brand new glaucoma drainage tool, Ahmed ClearPath, in the US. The device consists of a flexible plate designed to align with the curvature of the eye and anteriorly placed suture fixation points for efficient drainage.
July 2019: The Irish pharmaceutical giant, Allergan, announced that its New Drug Application for the company’s Bimatoprost Sustained-Release has been accepted by the US FDA. If successful, the product would be the first-of-its-kind biodegradable implant for treating patients with glaucoma or ocular hypertension.
Report Scope of the Ophthalmology Surgical Devices Market
| Report Coverage | Details |
| Market Size | US$ 14 Billion by 2030 |
| Growth Rate | CAGR of 6% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Largest Market | North America |
| Fastest Growing Market | Asia Pacific |
| Companies Mentioned | Novartis AG, Abbott Laboratories, Carl Zeiss Meditec AG, Valeant Pharmaceuticals International Inc. |
Market Segmentation
By Product
By End-user
By Geography
This report focuses on ophthalmic surgery devices market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall ophthalmic surgery devices market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global ophthalmic surgery devices market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Major Key Points Covered in Report:
Executive Summary: It includes key trends of the ophthalmic surgery devices market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the ophthalmic surgery devices market based on production and revenue.
Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.
Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the Ophthalmic surgery devices market.
Market Segments: This part of the report discusses about product, application and other segments of the ophthalmic surgery devices market based on market share, CAGR, market size, and various other factors.
Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.
Regional Analysis
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global ophthalmic surgery devices market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the ophthalmic surgery devices market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
Competitive Landscape
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global ophthalmic surgery devices market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Research Methodology
The research methodology adopted by analysts for compiling the global ophthalmic surgery devices market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global ophthalmic surgery devices market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers