Authored By: Sarah
11 Jul 2024

 Ophthalmology Surgical Devices Market Size to grow by USD 2806.8 million between 2024-2028

According to a research report “ Ophthalmology Surgical Devices Market” by Product (Cataract surgery devices, Glaucoma surgery devices, Refractive surgery devices, Vitreoretinal surgery devices) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2806.8 million, at a CAGR of  5.21% during the forecast period. The global prevalence of vision impairments, primarily driven by refractive errors such as myopia, hyperopia, and astigmatism, as well as conditions like cataracts, glaucoma, retinal diseases including vitreomacular traction, AMD, retinal detachment, and diabetic retinopathy, and dry eyes, is escalating significantly. According to the World Health Organization (WHO), an estimated 2.2 billion individuals experienced near or distance vision impairment as of March 2023. Uncorrected refractive errors and cataracts are the leading causes of vision impairment and blindness. Approximately 400 individuals out of every 1,000 and 50 individuals out of every 1,000 develop cataracts and glaucoma, respectively, throughout their lives. The aging population represents a significant risk factor for visual impairment.

Browse market data tables, figures, and in-depth TOC on “Ophthalmology Surgical Devices Market” by Product (Cataract surgery devices, Glaucoma surgery devices, Refractive surgery devices, Vitreoretinal surgery devices) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Cataract surgery devices segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

The Ophthalmology Surgical Devices market represents a significant business opportunity due to the increasing prevalence of eye diseases and the growing demand for minimally invasive surgical procedures. Key players in this market include Alcon Laboratories, Carl Zeiss AG, and Johnson & Johnson. These companies invest heavily in research and development to launch innovative products, thereby expanding their market share. The market is expected to grow at a robust CAGR during the forecast period, driven by advancements in technology and rising healthcare expenditures.

North America is forecasted to hold the largest market size by region in 2024

The ophthalmology surgical devices market represents a significant business opportunity, driven by the increasing prevalence of eye diseases and the advancement of minimally invasive surgical technologies. Key players in this sector invest heavily in research and development to launch innovative products, catering to the growing demand for precision, efficiency, and patient comfort. The market is expected to grow steadily, driven by demographic trends, technological advancements, and regulatory approvals.

The Ophthalmology Surgical Devices Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AbbVie Inc.
  • Alcon Inc.
  • Bausch Health Companies Inc.
  • Carl Zeiss AG
  • Ellex Medical Lasers Ltd.
  • EssilorLuxottica
  • FCI Ophthalmics
  • Glaukos Corp.
  • Gulden Ophthalmics
  • HOYA Corp.
  • IRIDEX Corp.
  • Johnson and Johnson Services Inc.
  • Katena Products Inc.
  • LENSAR Inc.
  • Lumenis Be Ltd.
  • Metall Zug AG
  • NIDEK Co. Ltd.
  • Nova Eye Medical Ltd.
  • STAAR Surgical Co.
  • Sterimedix Ltd.
  • Topcon Corp.
  • Ziemer Ophthalmic Systems AG
.

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Research Analysis Overview

The Ophthalmology Surgical Devices Market encompasses a range of advanced technologies used in the diagnosis and treatment of various ocular disorders, including refractive errors, cataracts, glaucoma, and diabetic retinopathy. Laser surgery plays a significant role in this market, offering effective solutions for correcting vision problems caused by refractive errors and advanced cataracts. Patients with symptoms such as eye redness, visual changes, glare, and blurred vision often undergo ophthalmic surgeries, including cataract surgeries, to improve their quality of life. Intraocular lenses and advanced technologies like robotic systems and microscopes are essential tools for ophthalmic surgeons during these procedures. The geriatric population is a significant consumer of ophthalmic surgical devices due to the high prevalence of age-related eye disorders like cataracts and glaucoma. The backlog of patients waiting for consultations and surgeries continues to grow, emphasizing the need for innovative and efficient ophthalmic surgical devices. Some common ophthalmic disorders include cataracts, diabetic retinopathy, and glaucoma. Diabetic retinopathy, a common complication of diabetes, can lead to vision loss if left untreated. Cataracts, on the other hand, cause clouding of the lens, leading to blurred vision and glare. Ophthalmic surgical devices play a crucial role in addressing these conditions and improving patients' vision.

Market Research Overview

The ophthalmology surgical devices market encompasses a wide range of products used in clinics and hospitals for various ophthalmic surgeries. These devices include consumables like ophthalmic viscoelastic devices, phacoemulsification systems, glaucoma surgery devices, and vitreoretinal surgery devices. The type of surgery can vary from MIGS (Minimally Invasive Glaucoma Surgery) using the CyPass Micro-Stent for macular degeneration patients, to cataract surgeries using advanced phacoemulsification (phaco) systems and implantation of artificial lenses. The prevalence of ophthalmic disorders such as glaucoma and cataract is on the rise due to factors like diabetes, aging population, and refractive errors. According to the National Ophthalmology Database, the prevalence of glaucoma is estimated to be 60.5 million worldwide, while cataract affects around 20.5 million people. Healthcare infrastructure and unfavorable reimbursement policies pose challenges to the growth of the market. However, technological advancements like SmartCataract solutions, robotic technologies, and portable VR tools offer opportunities for innovation. Clinical studies on phacoemulsification systems and glaucoma surgical devices continue to provide insights into improving surgical outcomes and patient care. Symptoms of ophthalmic disorders like eye redness, visual changes, glare, and blurred vision can significantly impact daily activities like reading. Ophthalmic surgical devices play a crucial role in correcting vision impairment caused by advanced cataracts, diabetic retinopathy, and other ophthalmic disorders. The market for ophthalmic surgical devices is expected to grow significantly due to the increasing backlog of patients requiring consultations and ophthalmic surgeries. Some of the key players in the ophthalmic surgical devices market include LASIK manufacturers, laser surgery providers, and manufacturers of ophthalmic equipment like microscopes and intraocular lenses. The market is also witnessing a trend towards the use of advanced technologies like robotic systems and virtual reality options for ophthalmic surgeries. In conclusion, the ophthalmology surgical devices market is poised for significant growth due to the increasing prevalence of ophthalmic disorders, aging population, and technological advancements. The market faces challenges like unfavorable reimbursement policies and a backlog of patients requiring consultations and surgeries. However, opportunities exist for innovation in areas like MIGS, cataract surgery devices, and advanced surgical technologies. Organizations like the Macular Disease Foundation play a crucial role in raising awareness and funding for research and development in the field of ophthalmology.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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