Published on: February 07, 2020
The ophthalmology devices market is made up of a range of diagnostic and surgical equipment used in the treatment of eye disorders and vision correction procedures. These devices are used in procedures such as LASIK surgery, refractive surgery, retinal surgery, corneal surgery, and diagnostics.
The global ophthalmology devices market size is estimated to grow at a CAGR of 4.65% between 2022 and 2027. The increasing prevalence of ophthalmic diseases such as diabetic retinopathy, cataracts, glaucoma, and age-related macular degeneration (AMD) is driving market growth by increasing the demand for diagnostic and treatment devices. Technological advances in ophthalmology devices, such as advanced imaging systems, minimally invasive surgical techniques, and improved prosthetic devices, are also driving market expansion by improving the accuracy and effectiveness of ophthalmic procedures.
Current trends in the ophthalmology devices market include the adoption of precision technologies like femtosecond lasers and phacoemulsification systems, which enhance surgical precision and patient outcomes. There is also a growing demand for premium intraocular lenses (IOLs) and refurbished equipment, driven by healthcare cost-consciousness and budgetary restrictions.
Key drivers of market growth include rising healthcare spending on eye care, advancements in ophthalmic research, and increasing awareness of the importance of eye health among the population. The demand for innovative treatments for conditions like wet AMD and diabetic retinopathy, coupled with the need for sustainable and ethical healthcare practices, further fuels market expansion.
Challenges facing the ophthalmology devices market include rising equipment costs, particularly for advanced technologies, and the need for refurbishing technology to maintain cost-effective prices. Environmental concerns related to waste reduction and sustainable practices in healthcare also pose challenges to market participants.
North America is projected to account for 41% of the global market by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market. The rapid growth of the ophthalmology devices market in the region is due to the rising healthcare expenditure on ocular diseases, the rising number of product approvals, and the growing adoption of technologically advanced ophthalmology devices.
Technavio's ophthalmology devices industry reports monitor the leading players in the global market along with their current and forecasted market share. Our analysis covers regional and global companies. Some of the top companies covered in our ophthalmology devices market reports include:
In order to provide you with a comprehensive view of the ophthalmology devices industry, our experts analyze the market from many different perspectives. Our reports help identify opportunities, risks, key competitors, and more, helping you make timely, informed decisions to optimize your position in the market.
Technavio reports insights include:
Develop a deeper understanding of the ophthalmology devices market with Technavio’s comprehensive market research reports. We provide the latest information on key industry dynamics, including global and regional market forecasts, internal and external pressure points, the vendor landscape, and more.
Our in-depth knowledge of the ophthalmology devices market is built on decades of experience and a global network of industry experts. We know the importance of having a strong foundation on which to base important decisions, and with over 500 analysts located around the world, we deliver actionable insights for every segment of the market.
Technavio’s market research reports provide an analysis of current trends and how they are affecting the market. We also identify market drivers and challenges to help you discover opportunities and avoid pitfalls.
Every Technavio report includes detailed segmentation insights, breaking down the market in terms of product type, geography, sales channels, and more. And if you’re looking for something a little more specific, our Custom Research Solutions can tailor any report to meet your unique needs.
We provide detailed profiles on the biggest competitors in the market, including data such as business divisions, product offerings, and news. Our reports also include an overview of the competitive landscape as a whole, including the risks and opportunities that it presents.
LinkedIn
Facebook 
Twitter
Email
Reddit
Tumblr
Quora
Pinterest
WhatsApp