The Global Ophthalmic Surgical Devices Market was valued at USD 8.91 billion in 2021 and growing at a CAGR of 5.09% during the forecast period (2023 to 2028); it is expected to reach USD 11.97 billion by 2028. Some of the key factors, such as the growing prevalence of various ophthalmic disorders, the rising burden of the geriatric population, the rising prevalence of diabetes, and other risk factors for ophthalmic disorders, are expected to stimulate the Ophthalmic Surgical Devices market. Some of the leading players in the Global Ophthalmic Surgical Devices Market include Bausch & Lomb Incorporated, Topcon Corporation, Johnson & Johnson, Carl Zeiss AG, Alcon Inc, Lumenis Ltd, Hoya Corporation, Ellex Medical Laser Ltd, STAAR Surgical Company, Ziemer Ophthalmic Systems AG, Glaukos Corporation., AbbVie., New World Medical, Inc., Oertli Instrumente AG, NIDEK CO., LTD., IRIDEX Corporation, HumanOptics, Surgical Holdings., Madhu Instruments Pvt. Ltd, GWS Surgicals LLP, and others.
DelveInsight’s “Ophthalmic Surgical Devices Market Insight, Competitive Landscape and Market Forecast 2028” research report provides the current and forecasted Ophthalmic Surgical Devices Market size, share, and trends analysis for the next five years. Moreover, it highlights the ongoing innovations in the segment, major market drivers & barriers, key competitors, and emerging devices in the domain.
Ophthalmic Surgical Devices Market: Overview
Ophthalmic Surgical Devices are used in retinal, refractive, and cataract surgeries and in treating various ophthalmic diseases such as cataracts, glaucoma, and refractive error. These devices are employed majorly when the disease is not diagnosed early; thus, the demand for Ophthalmic Surgical Devices increases to prevent visual impairment and loss of vision.
DelveInsight’s “Ophthalmic Surgical Devices Market” provides an in-depth assessment of the market by product type (implants & stents [intraocular lenses {IOLS}, glaucoma drainage implants, and others], viscoelastics (OVDS), laser surgery devices, and others), by application (cataract surgery, glaucoma surgery, vitreoretinal surgery, refractive surgery, and others), by end-user (hospitals & clinics, specialty centers, and others), and geography (North America, Europe, Asia-pacific, and rest of the world).
As per DelveInsight, in the application segment of the Ophthalmic Surgical Devices market, the cataract surgery segment is expected to dominate the market and have a significant revenue share during the forecast period. Some of the key factors, such as the rising number of cataract surgery owing to the increasing prevalence of cataracts, the availability of technologically advanced products in the market, and rising product launches and approvals in the market, among others, are expected to drive the cataract surgery segment.
Ophthalmic Surgical Devices Market Analysis
As per DelveInsight, the Ophthalmic Surgical Devices Market is anticipated to evolve immensely in the coming years owing to the rising number of vision impairment disorders such as cataracts, glaucoma, refractive errors, and others globally. As per the World Glaucoma Association 2022, it was estimated that 79.6 million individuals had glaucoma in 2020 globally, and the number will increase to 111.8 million individuals by 2040. In 2020, at least 2.2 billion people across the world had near or distant vision impairment across the globe. The rising prevalence and incidence of various ophthalmic disorders directly boost the demand for the treatment and management of Ophthalmic Surgical Devices. Moreover, the rising burden of the geriatric population, the increasing prevalence of diabetes and diabetic retinopathy, and other factors also lead to various ophthalmic diseases. Also, an increase in investment by the key players in the ophthalmic devices sector is expected to boost the growth of global ophthalmology surgical devices.
However, the higher cost of surgical devices, complications related to surgical procedures, unfavorable reimbursement policies pertaining to the ophthalmic surgery industry, and others may be challenging factors for the market growth of Ophthalmic Surgical Devices.
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Ophthalmic Surgical Devices – Global Market Assessment and Forecast
As per the assessment, North America is anticipated to dominate the global Ophthalmic Surgical Devices among all the regions during the forecast period (2023-2028). Some of the key factors, such as high awareness among consumers about vision impairments and the increasing prevalence of ophthalmic disorders, are expected to drive the demand for Ophthalmic Surgical Devices in the region. Additionally, the easy availability of technologically advanced products, the growing demand for non-invasive or minimally invasive surgical procedures, a very high presence of major MedTech players in the region, and rising investments by the key players in the region, is further expected to provide growth to the Ophthalmic Surgical Devices market in the North American region.
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Ophthalmic Surgical Devices Market – Key Developments and Breakthroughs
Over the years, the Ophthalmic Surgical Devices Market has evolved significantly, owing to the active participation of the global MedTech companies and technological advancements in the domain. Similarly, several clinical, commercial, and regulatory developments have also been registered in the domain.
Some of the key advancements in the Ophthalmic Surgical Devices Market in recent years include –
- On February 01, 2023, Bausch + Lomb Corporation (NYSE/TSX: BLCO) (“Bausch + Lomb”) announced that the US FDA had approved the ML6710i photodynamic laser for equivalent use with Bausch + Lomb’s VISUDYNE® (verteporfin for injection) photodynamic therapy (PDT) for the treatment of patients with predominantly classic subfoveal choroidal neovascularization, or the creation of abnormal choroidal blood vessels, due to Age-related Macular Degeneration (AMD).
- On Aug. 23, 2022, Sight Sciences, Inc. (Nasdaq: SGHT) announced the launch of SION, a surgical instrument representing a new chapter in goniotomy innovation and practice. Sight Sciences is a leader in minimally invasive approaches to prevalent eye diseases, and SION is an exciting new addition to the company’s portfolio.
- In July 2021, Johnson & Johnson (J&J) Vision globally launched its phacoemulsification (phaco) system, developed to provide surgeons with improved efficiency and comfort during cataract surgery. The VERITAS Vision System features hybrid fluidics technology, which lowers post-occlusion surges to preserve intraocular structures and offer better chamber stability.
- In April 2021, Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc., announced that the US FDA had approved ClearVisc™ dispersive ophthalmic viscosurgical device (OVD) for use in ophthalmic surgery.
- In February 2021, Johnson & Johnson Vision announced that the FDA had approved the TECNIS EyhanceTM and TECNIS EyhanceTM Toric II intraocular lens (IOL) for the treatment of cataract patients in the United States.
- In October 2019, Carl Zeiss AG announced the launch of its next-generation product, CIRRUS 6000, in the United States. The CIRRUS 6000 is an ultra-fast 100 kHz system that ensures that ophthalmologists avoid errors and enhance surgical procedure efficiency.
Learn more about the ongoing development in the market @ Ophthalmic Surgical Devices Market – Clinical and Commercial Development Activities
Key Companies in the Ophthalmic Surgical Devices Market
Globally, some of the leading MedTech giants working in the Ophthalmic Surgical Devices Market include Bausch & Lomb Incorporated, Topcon Corporation, Johnson & Johnson, Carl Zeiss AG, Alcon Inc, Lumenis Ltd, Hoya Corporation, Ellex Medical Laser Ltd, STAAR Surgical Company, Ziemer Ophthalmic Systems AG, Glaukos Corporation., AbbVie., New World Medical, Inc., Oertli Instrumente AG, NIDEK CO., LTD., IRIDEX Corporation, HumanOptics, Surgical Holdings., Madhu Instruments Pvt. Ltd, GWS Surgicals LLP, and others. Owing to the rising demand and favorable growth opportunities for revenue generation, several new players are anticipated to enter the market, thereby leading to high competitiveness in the domain.
Learn how new players’ entries will transform the market dynamics in the coming years @ Ophthalmic Surgical Devices Competitive Landscape
Scope of the Ophthalmic Surgical Devices Market Report:
- Study Period – 2020-2028
- Geography Covered – North America, Europe, Asia-Pacific, and Rest of the World
- Ophthalmic Surgical Devices Market Assessment by Product Type –
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- Implants & Stents [Intraocular Lenses (IOLS), Glaucoma Drainage Implants, and Others]
- Viscoelastics (OVDS)
- Laser Surgery Devices, and Others
- Ophthalmic Surgical Devices Market Assessment By Application – Cataract Surgery, Glaucoma Surgery, Vitreoretinal Surgery, Refractive Surgery, and Others
- By End-User – Hospitals & Clinics, Specialty Centers, and Others
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s Views
Table of Content
| 1 | Report Introduction |
| 2 | Executive Summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Ophthalmic Surgical Devices Market Key Factors Analysis |
| 5 | Ophthalmic Surgical Devices Porter’s Five Forces Analysis |
| 6 | COVID-19 Impact Analysis on the Ophthalmic Surgical Devices Market |
| 7 | Ophthalmic Surgical Devices Market Layout |
| 8 | Ophthalmic Surgical Devices Global Company Share Analysis – Key 3–5 Companies |
| 9 | Ophthalmic Surgical Devices Product Profiles and Key Companies |
| 10 | Project Approach |
| 11 | KOL Views |
| 12 | DelveInsight Capabilities |
| 13 | Disclaimer |
| 14 | About DelveInsight |
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