Global Ophthalmic Equipment Market Size Growth Expected to Surpass USD 92.4 Billion by 2030, at 4.8% CAGR: Polaris Market Research

NEW YORK, Jan. 5, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Ophthalmic Equipment Market Share, Size, Trends, Industry Analysis Report, By Product; By End-Use (Consumers, Hospitals, Specialty Clinics & Ambulatory Surgery Centers, Others); By Region; Segment Forecast, 2022 - 2030" published by Polaris Market Research in its research repository.

According to the research report, the global Ophthalmic Equipment Market size was estimated at USD 61.1 Billion in 2021 and is expected to reach USD 92.4 Billion by 2030. The global Ophthalmic Equipment Market is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2022 to 2030".

How Big is Ophthalmic Equipment Market? What is Expected Size & Share of Ophthalmic Equipment Market?

• Report Overview

Ophthalmic equipment is a medical component used in surgery, diagnostics, and vision therapy. It prevents accidents or illness, and eye damage. Retinal detachment is of the common eye diseases that can be detected and evaluated using ophthalmic instruments. The disease is associated with vision loss and glaucoma, which can damage the optic nerve. Ophthalmic equipment is usually used for diagnostic purposes and is non-invasive.

Forceps, hooks & probes, micro scissors, needle holders, micro blades, spatulas, depressors & retractors, speculums, and scissors are the equipment designed for ophthalmology. The growing prevalence of ocular disorders like cataracts and glaucoma is driving market growth. The rising adoption of contact lenses and spectacles is expected to support ophthalmic equipment market size growth in the forecast period.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2030 Updated Report Introduction, Overview, and In-depth industry analysis
• 115+ Pages Research Report (Inclusion of Updated Research)
• Provide Chapter-wise guidance on Request
• 2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
• Includes Updated List of table & figures
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis

Ophthalmic Equipment Market Report Highlights

• Vision care products accounted for the most considerable market share in 2021 due to increasing demand for spectacles and contact lenses such as soft contact lenses, RGP lenses, and hybrid contact lenses.
• The consumer segment accounted for the most significant market share in 2021 due to increasing ocular disorders with the rising adoption of contact lenses and spectacles.
• North America dominated the regional market during the forecast period due to the rising geriatric population, increasing healthcare expenditure, and awareness about eye care and ocular diseases in emerging economies such as the US and Canada.

Some of the Top Market Players Are:

• Alcon Vision LLC
• Bausch & Lomb Incorporated
• Carl Zeiss Meditec AG
• Essilor International S.A
• Haag-Streit Group
• Ivantis Inc.
• Johnson & Johnson Vision Care
• Nidek Co. Ltd
• TOPCON Corporation
• Ziemer Ophthalmic Systems Ltd

To know an additional revised list of top market players, request a sample report, 2022 - 2030: https://www.polarismarketresearch.com/industry-analysis/ophthalmic-equipment-market/request-for-sample

Ophthalmic Equipment Market: Report Scope

Growth Driving Factors

• Growing cases of eye diseases are pushing the market growth

Increasing cases of eye disorders such as cataracts, age-related macular degeneration (AMD), and diabetic retinopathy are expected to increase demand for ophthalmic devices. A surge in the adoption of digital devices, including smartphones, laptops, and computers, e-readers, and rising technological developments are boosting the industry's growth. The increasing health concern, such as vision loss due to rising cases of major eye diseases among the population, is propelling the market expansion.

Moreover, ophthalmic equipment market trends such as rising healthcare spending, increasing governmental investments, and increasing medical tourism are anticipated to create growth opportunities in the ophthalmic equipment market for leading players. Growing emphasis on customer training and education among eye care professionals regarding eye disorders is further anticipated to support the market growth. Increasing focus by market players on launching new micro-invasive glaucoma surgical implants is likely to flourish the industry demand.

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Recent developments

• In January 2022, Alcon announced the acquisition of Ivantis Inc. to help ensure the continuity of the business and relationships with existing customers and allow Alcon to begin its future growth plants to bring Hydrus Microstent to more international markets.

Segmental Analysis

• Vision care products held the largest market share in 2021

Based on products, the vision care products category accounted for the highest ophthalmic equipment market share in 2021, owing to the rising demand for spectacles and contact lenses. Further, the spectacles sub-segment of vision care products recorded a considerable market share owing to the rising advantages, such as easier reading and cost-effectiveness. Factors like emerging lifestyles and a rising population are fueling segment growth.

Further, the rising demand for spectacles in young people to shield their eyes from the sun, as well as the growing trend of looking smarter and more fashionable among the young population, is enhancing the demand for spectacles. The segment is also gaining growth due to the growing demand for contact lenses which provides a wider field of view with less distortion and viewer obstruction than eyeglasses.

• Consumers segment witnessed a significant market share in 2021

By end use, consumers captured a considerable market share owing to the factors such as increasing use of contact lenses to treat a wide range of vision problems such as astigmatism, presbyopia, myopia, and hyperopia. The growing focus on aesthetics, along with the rising adoption of colored contact lenses in the fashion industry. Moreover, the hospital segment is anticipated to generate the fastest growth in the ophthalmic equipment market the upcoming years. This growth can be attributed to the integration of ophthalmic technology in hospitals and the availability of affordable and efficient treatment in clinics.

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Geographic Overview

• North America held the highest market share

On the basis of geography, ophthalmic equipment market in North America accounted for the major revenue share with regard to the growing elderly population. The toxic lifestyles and high-stress levels have led to an increase in the cases of chronic eye disorders, fueling the market growth in the region. In North America, the growing demand for ophthalmic devices is being driven by the increased adoption of new repayment models for ophthalmologic therapy as well as an introduction of a stringent regulatory environment to ensure patient safety.

Moreover, Asia Pacific is expected to record the fastest CAGR throughout the foreseen period. This growth can be attributed to the enhanced healthcare system and the increased cases of eye conditions like glaucoma. In addition, the presence of significant market players like Alcon, Inc. is driving regional market growth.

Browse the Detail Report "Ophthalmic Equipment Market Share, Size, Trends, Industry Analysis Report, By Product; By End-Use (Consumers, Hospitals, Specialty Clinics & Ambulatory Surgery Centers, Others); By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/ophthalmic-equipment-market     

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Key Highlights of the Report

• Market tendencies that involve product and technological analysis, drivers and constraints, PORTER's five forces analysis
• In-depth analysis of segments and sub-segments with regional market
• Competitive landscape and strategies of key players
• Recent trends and developments which involve growth opportunities
• Future outlook and prospects for the market
• Reliable industry value chain and supply chain analysis
• Import-Export policies regarding the products/services in the market

Polaris Market Research has segmented the ophthalmic equipment market report based on product, end-use, and region:

By Product Outlook

• Vision Care Products
• Spectacles
• Contact Lenses
• Soft Contact Lenses
• Rigid Gas Permeable Lenses
• Hybrid Contact Lenses
• Surgical Devices
• Cataract Surgical Devices
• Intraocular Lenses
• Ophthalmic Viscoelastic Devices
• Phacoemulsification Devices
• Cataract Surgical Lasers
• IOL Injectors
• Vitreoretinal Surgical Devices
• Vitrectomy Machines
• Vitreoretinal Packs
• Photocoagulation Lasers
• Illumination Devices
• Vitrectomy Probes
• Refractive Surgical Devices
• Femtosecond Lasers
• Excimer Lasers
• Other Refractive Surgical Lasers
• Glaucoma Surgical Devices
• Glaucoma Drainage Devices
• Microinvasive Glaucoma Surgery Devices
• Glaucoma Laser Systems
• Ophthalmic Microscopes
• Ophthalmic Surgical Accessories
• Surgical Instruments & Kits
• Ophthalmic Forceps
• Ophthalmic Spatulas
• Ophthalmic Tips & Handles
• Ophthalmic Scissors
• Macular Lenses
• Ophthalmic Cannulas
• Other Ophthalmic Surgical Accessories
• Diagnostic and Monitoring Devices
• Optical Coherence Tomography Scanners
• Fundus Cameras
• Perimeters/Visual Field Analysers
• Autorefractors & Keratometers
• Ophthalmic Ultrasound Imaging Systems
• A-Scan
• B-Scan
• Ultrasound Microscopes
• Pachymeters
• Tonometer
• Slit Lamps
• Phoropters
• Wavefront Aberrometers
• Optical Biometry Systems
• Ophthalmoscopes
• Lens meters
• Corneal Topography Systems
• Chart Projectors
• Specular Microscopes
• Retinoscopes

By End-Use Outlook

• Consumers
• Hospitals
• Specialty Clinics & Ambulatory Surgery Centers
• Other

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research