Analyst Viewpoint
Growth in prevalence of glaucoma and cataracts is driving the global ophthalmology surgical devices market development. Ophthalmology surgical devices are imperative, with a majority of the global population suffering from diagnosed or undiagnosed eye disorders.
Minimally invasive techniques are gaining traction during eye surgeries. These innovations are expected to expedite the demand for comfortable ophthalmic surgical instruments during the forecast period.
Ophthalmology surgical device manufacturers are launching automated ophthalmology surgical tools to enhance precision, improve outcomes, and reduce the invasiveness of procedures. They are offering next-generation adaptive cataract treatment systems and next-generation canaloplasty devices to expand their product portfolio.
Ophthalmic surgical devices, as the name suggests, are used to treat ocular disorders such as cataracts and glaucoma. One of the types of ophthalmology surgical devices includes microscopes. They are employed in procedures that need higher magnification along with variable focusing.
Their features include motorized zoom magnification, pedal-controlled motorized focusing, and motorized longitudinal and lateral positioning.
The latest trend in the ophthalmology surgical devices market landscape comprises the usage of the Intelligent Arm Support System (iArmS), a smart armrest that stabilizes a surgeon’s arm during surgery. Such innovative robotic technologies are expected to pave the way for newer avenues in the market for cataract removal tools during the forecast period.
Innovative robotic technologies in ophthalmology surgical devices include da Vinci surgical system for vitreoretinal surgery, TrueVision 3D visualization system, and Smart Microrobotic Aneurysm Repair Tool (SMART).
Certain issues with intraocular lenses obtained out of cataract surgery such as starbursts, glare, halos, fracture of lens haptic during or before insertion, cracks in the lens, and failure of the lens to open are likely to limit the ophthalmology surgical devices market growth in the near future.
As per the World Health Organization (WHO), over 20 million people worldwide are blind due to cataracts. Since 2020, the number of people with glaucoma worldwide has surpassed 80 million and is expected to pass 111 million by 2040, according to the 2022 Glaucoma Report. These growing incidences of ocular disorders are generating notable opportunities relating to ophthalmic surgeries.
As per AGS Health in Aging Foundation, the year 2019 witnessed 20% of adults aged 65 and above developing a cataract. Thus, surge in geriatric population is fueling the ophthalmology surgical devices market size.
Additionally, emerging trends in laser technology for ophthalmic surgery, such as refractive surgeries encompassing Laser Vision Correction (LVC), are gaining traction among the affected population as they are minimally invasive.
The manufacturers of ophthalmic surgical tools are continuously trying to put forth innovative products for the treatment of macular degeneration, cataracts, glaucoma, and refractive errors. Johnson & Johnson Vision, in July 2021, introduced its phaco (phacoemulsification) system for rendering comfort and efficiency to surgeons while performing cataract surgery.
Moreover, Alcon, in April 2022, released clinical study data, extending support to the usage of SmartCataract solutions for cataract surgery.
In May 2022, the Government of India announced various plans to conduct an exclusive campaign until 2025 to clear the backlog pertaining to the treatment of severe visual impairment (cataract surgeries included). Such initiatives, backed by the innovations mentioned above, are expected to positively impact the market revenue during the forecast period.
North America held largest share in 2022. The region is projected to maintain this position during the forecast period. High incidence of cataracts, glaucoma, and refractive errors is fueling the ophthalmology surgical devices market share in North America. As per the Centers for Disease Control and Prevention (CDC), nearly 12 million people aged 40 and above are visually impaired in the U.S.
R&D of technologically advanced devices is driving the ophthalmology surgical devices market scenario in Europe. The U.K., France, and Germany are major markets for ophthalmology surgical devices in the region. The industry in Latin America is expected to grow at a steady pace in the near future, with Brazil and Mexico witnessing a rise in awareness regarding ocular diseases.
As per the National Institutes of Health, 66% of visual impairment in Latin America can be cured if treated on time.
Asia Pacific is home to a large pool of individuals suffering from ocular disorders. As per Lippincott Williams & Wilkins, 53.4% of the population in developed economies suffers from myopia, whereas over 40% of the population in developing countries suffers from cataracts. Growth in occurrences of eye disorders is expected to drive the ophthalmology surgical devices market expansion in Asia Pacific during the forecast period.
Key players are offering a broad spectrum of surgical devices targeting cataracts, glaucoma, dry eye, and refractive errors. They are adopting M&A strategies to expand their product portfolio. Alcon, in January 2022, acquired Ivantis, developer of Hydrus Microsent - the minimally invasive glaucoma surgery (MIGS) device designed for lowering eye pressure in open-angle glaucoma patients, especially when cataract surgery is to be performed.
Alcon, Bausch & Lomb, Inc., Carl Zeiss Meditec AG, Glaukos Corporation, HOYA Corporation, IRIDEX Corporation, Johnson & Johnson Vision Care, Inc., Lumenis Ltd., NIDEK Co., Ltd., and STAAR Surgical Company are key players in this market.
These companies have been profiled in the ophthalmology surgical devices market report based on parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Market Size in 2022 | US$ 8.1 Bn |
| Market Forecast (Value) in 2031 | US$ 12.1 Bn |
| Market Growth Rate (CAGR) | 4.7% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available Upon Request |
| Pricing | Available Upon Request |
It was valued at US$ 8.1 Bn in 2022
It is projected to grow at a CAGR of 4.7% from 2023 to 2031
Growth in prevalence of cataracts and glaucoma and ongoing innovations in ophthalmic surgeries
The hospitals end-user segment held the largest share in 2022
North America dominated the landscape in 2022
Alcon, Bausch & Lomb, Inc., Carl Zeiss Meditec AG, Glaukos Corporation, HOYA Corporation, IRIDEX Corporation, Johnson & Johnson Vision Care, Inc., Lumenis Ltd., NIDEK Co., Ltd., and STAAR Surgical Company
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Ophthalmology Surgical Devices Market
4. Market Overview
4.1. Introduction
4.1.1. Product Definition
4.1.2. Industry Evolution/Developments
4.2. Overview
4.3. Market Dynamics
4.3.1. Drivers
4.3.2. Restraints
4.3.3. Opportunities
4.4. Ophthalmology Surgical Devices Market Analysis and Forecast, 2017–2031
5. Key Insights
5.1. Pipeline Analysis
5.2. Key Product/Brand Analysis
5.3. Key Mergers & Acquisitions
5.4. COVID-19 Pandemic Impact on Industry
6. Global Ophthalmology Surgical Devices Market Analysis and Forecast, by Product
6.1. Introduction & Definition
6.2. Key Findings/Developments
6.3. Market Value Forecast, by Product, 2017–2031
6.3.1. Cataract Surgery Devices
6.3.1.1. Intraocular Lenses (IOLs)
6.3.1.2. Ophthalmic Viscoelastic Devices
6.3.1.3. Others
6.3.2. Glaucoma Surgery Devices
6.3.3. Vitreoretinal Surgery Devices
6.3.4. Refractive Surgery Devices
6.4. Market Attractiveness Analysis, by Product
7. Global Ophthalmology Surgical Devices Market Analysis and Forecast, by End-user
7.1. Introduction & Definition
7.2. Key Findings/Developments
7.3. Market Value Forecast, by End-user, 2017–2031
7.3.1. Hospitals
7.3.2. Ambulatory Surgical Centers
7.3.3. Ophthalmic Clinics
7.4. Market Attractiveness Analysis, by End-user
8. Global Ophthalmology Surgical Devices Market Analysis and Forecast, by Region
8.1. Key Findings
8.2. Market Value Forecast, by Region, 2017–2031
8.2.1. North America
8.2.2. Europe
8.2.3. Asia Pacific
8.2.4. Latin America
8.2.5. Middle East & Africa
8.3. Market Attractiveness Analysis, by Region
9. North America Ophthalmology Surgical Devices Market Analysis and Forecast
9.1. Introduction
9.2. Key Findings
9.3. Market Value Forecast, by Product, 2017–2031
9.3.1. Cataract Surgery Devices
9.3.1.1. Intraocular Lenses (IOLs)
9.3.1.2. Ophthalmic Viscoelastic Devices
9.3.1.3. Others
9.3.2. Glaucoma Surgery Devices
9.3.3. Vitreoretinal Surgery Devices
9.3.4. Refractive Surgery Devices
9.4. Market Value Forecast, by End-user, 2017–2031
9.4.1. Hospitals
9.4.2. Ambulatory Surgical Centers
9.4.3. Ophthalmic Clinics
9.5. Market Value Forecast, by Country, 2017–2031
9.5.1. U.S.
9.5.2. Canada
9.6. Market Attractiveness Analysis
9.6.1. By Product
9.6.2. By End-user
9.6.3. By Country
10. Europe Ophthalmology Surgical Devices Market Analysis and Forecast
10.1. Introduction
10.2. Key Findings
10.3. Market Value Forecast, by Product, 2017–2031
10.3.1. Cataract Surgery Devices
10.3.1.1. Intraocular Lenses (IOLs)
10.3.1.2. Ophthalmic Viscoelastic Devices
10.3.1.3. Others
10.3.2. Glaucoma Surgery Devices
10.3.3. Vitreoretinal Surgery Devices
10.3.4. Refractive Surgery Devices
10.4. Market Value Forecast, by End-user, 2017–2031
10.4.1. Hospitals
10.4.2. Ambulatory Surgical Centers
10.4.3. Ophthalmic Clinics
10.5. Market Value Forecast, by Country/Sub-region, 2017–2031
10.5.1. Germany
10.5.2. U.K.
10.5.3. France
10.5.4. Italy
10.5.5. Spain
10.5.6. Rest of Europe
10.6. Market Attractiveness Analysis
10.6.1. By Product
10.6.2. By End-user
10.6.3. By Country/Sub-region
11. Asia Pacific Ophthalmology Surgical Devices Market Analysis and Forecast
11.1. Introduction
11.2. Key Findings
11.3. Market Value Forecast, by Product, 2017–2031
11.3.1. Cataract Surgery Devices
11.3.1.1. Intraocular Lenses (IOLs)
11.3.1.2. Ophthalmic Viscoelastic Devices
11.3.1.3. Others
11.3.2. Glaucoma Surgery Devices
11.3.3. Vitreoretinal Surgery Devices
11.3.4. Refractive Surgery Devices
11.4. Market Value Forecast, by End-user, 2017–2031
11.4.1. Hospitals
11.4.2. Ambulatory Surgical Centers
11.4.3. Ophthalmic Clinics
11.5. Market Value Forecast, by Country/Sub-region, 2017–2031
11.5.1. China
11.5.2. Japan
11.5.3. India
11.5.4. Australia & New Zealand
11.5.5. Rest of Asia Pacific
11.6. Market Attractiveness Analysis
11.6.1. By Product
11.6.2. By End-user
11.6.3. By Country/Sub-region
12. Latin America Ophthalmology Surgical Devices Market Analysis and Forecast
12.1. Introduction
12.2. Key Findings
12.3. Market Value Forecast, by Product, 2017–2031
12.3.1. Cataract Surgery Devices
12.3.1.1. Intraocular Lenses (IOLs)
12.3.1.2. Ophthalmic Viscoelastic Devices
12.3.1.3. Others
12.3.2. Glaucoma Surgery Devices
12.3.3. Vitreoretinal Surgery Devices
12.3.4. Refractive Surgery Devices
12.4. Market Value Forecast, by End-user, 2017–2031
12.4.1. Hospitals
12.4.2. Ambulatory Surgical Centers
12.4.3. Ophthalmic Clinics
12.5. Market Value Forecast, by Country/Sub-region, 2017–2031
12.5.1. Brazil
12.5.2. Mexico
12.5.3. Rest of Latin America
12.6. Market Attractiveness Analysis
12.6.1. By Product
12.6.2. By End-user
12.6.3. By Country/Sub-region
13. Middle East & Africa Ophthalmology Surgical Devices Market Analysis and Forecast
13.1. Introduction
13.2. Key Findings
13.3. Market Value Forecast, by Product, 2017–2031
13.3.1. Cataract Surgery Devices
13.3.1.1. Intraocular Lenses (IOLs)
13.3.1.2. Ophthalmic Viscoelastic Devices
13.3.1.3. Others
13.3.2. Glaucoma Surgery Devices
13.3.3. Vitreoretinal Surgery Devices
13.3.4. Refractive Surgery Devices
13.4. Market Value Forecast, by End-user, 2017–2031
13.4.1. Hospitals
13.4.2. Ambulatory Surgical Centers
13.4.3. Ophthalmic Clinics
13.5. Market Value Forecast, by Country/Sub-region, 2017–2031
13.5.1. GCC Countries
13.5.2. South Africa
13.5.3. Rest of Middle East & Africa
13.6. Market Attractiveness Analysis
13.6.1. By Product
13.6.2. By End-user
13.6.3. By Country/Sub-region
14. Competition Landscape
14.1. Market Player - Competitive Matrix (by Tier and Size of Companies)
14.2. Market Share Analysis, by Company (2022)
14.3. Company Profiles
14.3.1. Alcon
14.3.1.1. Company Overview
14.3.1.2. Product Portfolio
14.3.1.3. SWOT Analysis
14.3.1.4. Financial Overview
14.3.1.5. Strategic Overview
14.3.2. Bausch & Lomb, Inc.
14.3.2.1. Company Overview
14.3.2.2. Product Portfolio
14.3.2.3. SWOT Analysis
14.3.2.4. Financial Overview
14.3.2.5. Strategic Overview
14.3.3. Carl Zeiss Meditec AG
14.3.3.1. Company Overview
14.3.3.2. Product Portfolio
14.3.3.3. SWOT Analysis
14.3.3.4. Financial Overview
14.3.3.5. Strategic Overview
14.3.4. Glaukos Corporation
14.3.4.1. Company Overview
14.3.4.2. Product Portfolio
14.3.4.3. SWOT Analysis
14.3.4.4. Financial Overview
14.3.4.5. Strategic Overview
14.3.5. HOYA Corporation
14.3.5.1. Company Overview
14.3.5.2. Product Portfolio
14.3.5.3. SWOT Analysis
14.3.5.4. Financial Overview
14.3.5.5. Strategic Overview
14.3.6. IRIDEX Corporation
14.3.6.1. Company Overview
14.3.6.2. Product Portfolio
14.3.6.3. SWOT Analysis
14.3.6.4. Financial Overview
14.3.6.5. Strategic Overview
14.3.7. Johnson & Johnson Vision Care, Inc.
14.3.7.1. Company Overview
14.3.7.2. Product Portfolio
14.3.7.3. SWOT Analysis
14.3.7.4. Financial Overview
14.3.7.5. Strategic Overview
14.3.8. Lumenis Ltd.
14.3.8.1. Company Overview
14.3.8.2. Product Portfolio
14.3.8.3. SWOT Analysis
14.3.8.4. Financial Overview
14.3.8.5. Strategic Overview
14.3.9. NIDEK Co., Ltd.
14.3.9.1. Company Overview
14.3.9.2. Product Portfolio
14.3.9.3. SWOT Analysis
14.3.9.4. Financial Overview
14.3.9.5. Strategic Overview
14.3.10. STAAR Surgical Company
14.3.10.1. Company Overview
14.3.10.2. Product Portfolio
14.3.10.3. SWOT Analysis
14.3.10.4. Financial Overview
14.3.10.5. Strategic Overview
List of Tables
Table 01: Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Product, 2017–2031
Table 02: Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 03: Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Region, 2017–2031
Table 04: North America Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Country, 2017–2031
Table 05: North America Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Product, 2017–2031
Table 06: North America Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 07: Europe Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 08: Europe Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Product, 2017–2031
Table 09: Europe Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 10: Asia Pacific Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 11: Asia Pacific Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Product, 2017–2031
Table 12: Asia Pacific Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 13: Latin America Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 14: Latin America Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Product, 2017–2031
Table 15: Latin America Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by End-user, 2017–2031
Table 16: Middle East & Africa Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Country/Sub-region, 2017–2031
Table 17: Middle East & Africa Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by Product, 2017–2031
Table 18: Middle East & Africa Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast, by End-user, 2017–2031
List of Figures
Figure 01: Ophthalmology Surgical Devices Market Size (US$ Mn) and Distribution (%), by Region, 2022–2031
Figure 02: Ophthalmology Surgical Devices Market Revenue (US$ Mn), by Product, 2022
Figure 03: Ophthalmology Surgical Devices Market Value Share, by Product, 2022
Figure 04: Ophthalmology Surgical Devices Market Revenue (US$ Mn), by End-user, 2022
Figure 05: Ophthalmology Surgical Devices Market Value Share, by End-user, 2022
Figure 06: Ophthalmology Surgical Devices Market Value Share, by Region, 2022
Figure 07: Ophthalmology Surgical Devices Market Value (US$ Mn) Forecast, by Region, 2023–2031
Figure 08: Ophthalmology Surgical Devices Market Value Share Analysis, by Product, 2022–2031
Figure 09: Ophthalmology Surgical Devices Market Attractiveness Analysis, by Product, 2023-2031
Figure 10: Ophthalmology Surgical Devices Market Value Share Analysis, by End-user, 2022–2031
Figure 11: Ophthalmology Surgical Devices Market Attractiveness Analysis, by End-user, 2022–2031
Figure 12: Ophthalmology Surgical Devices Market Value Share Analysis, by Region, 2022–2031
Figure 13: Ophthalmology Surgical Devices Market Attractiveness Analysis, by Region, 2022–2031
Figure 14: North America Ophthalmology Surgical Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 15: North America Ophthalmology Surgical Devices Market Attractiveness Analysis, by Country, 2023–2031
Figure 16: North America Ophthalmology Surgical Devices Market Value Share Analysis, by Country, 2022–2031
Figure 17: North America Ophthalmology Surgical Devices Market Value Share Analysis, by Product, 2022–2031
Figure 18: North America Ophthalmology Surgical Devices Market Value Share Analysis, by End-user, 2022–2031
Figure 19: North America Ophthalmology Surgical Devices Market Attractiveness Analysis, by Product, 2023–2031
Figure 20: North America Ophthalmology Surgical Devices Market Attractiveness Analysis, by End-user, 2023–2031
Figure 21: Europe Ophthalmology Surgical Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 22: Europe Ophthalmology Surgical Devices Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 23: Europe Ophthalmology Surgical Devices Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 24: Europe Ophthalmology Surgical Devices Market Value Share Analysis, by Product, 2022–2031
Figure 25: Europe Ophthalmology Surgical Devices Market Value Share Analysis, by End-user, 2022–2031
Figure 26: Europe Ophthalmology Surgical Devices Market Attractiveness Analysis, by Product, 2023–2031
Figure 27: Europe Ophthalmology Surgical Devices Market Attractiveness Analysis, by End-user, 2023–2031
Figure 28: Asia Pacific Ophthalmology Surgical Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 29: Asia Pacific Ophthalmology Surgical Devices Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 30: Asia Pacific Ophthalmology Surgical Devices Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 31: Asia Pacific Ophthalmology Surgical Devices Market Value Share Analysis, by Product, 2022–2031
Figure 32: Asia Pacific Ophthalmology Surgical Devices Market Value Share Analysis, by End-user, 2022–2031
Figure 33: Asia Pacific Ophthalmology Surgical Devices Market Attractiveness Analysis, by Product, 2023–2031
Figure 34: Asia Pacific Ophthalmology Surgical Devices Market Attractiveness Analysis, by End-user, 2023–2031
Figure 35: Latin America Ophthalmology Surgical Devices Market Value (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 36: Latin America Ophthalmology Surgical Devices Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 37: Latin America Ophthalmology Surgical Devices Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 38: Latin America Ophthalmology Surgical Devices Market Value Share Analysis, by Product, 2022–2031
Figure 39: Latin America Ophthalmology Surgical Devices Market Value Share Analysis, by End-user, 2022–2031
Figure 40: Latin America Ophthalmology Surgical Devices Market Attractiveness Analysis, by Product, 2023–2031
Figure 41: Latin America Ophthalmology Surgical Devices Market Attractiveness Analysis, by End-user, 2023–2031
Figure 42: Middle East & Africa Ophthalmology Surgical Devices Market Size (US$ Mn) Forecast and Y-o-Y Growth (%), 2017–2031
Figure 43: Middle East & Africa Ophthalmology Surgical Devices Market Attractiveness Analysis, by Country/Sub-region, 2023–2031
Figure 44: Middle East & Africa Ophthalmology Surgical Devices Market Value Share Analysis, by Country/Sub-region, 2022–2031
Figure 45: Middle East & Africa Ophthalmology Surgical Devices Market Value Share Analysis, by Product, 2022–2031
Figure 46: Middle East & Africa Ophthalmology Surgical Devices Market Value Share Analysis, by End-user, 2022–2031
Figure 47: Middle East & Africa Ophthalmology Surgical Devices Market Attractiveness Analysis, by Product, 2023–2031
Figure 48: Middle East & Africa Ophthalmology Surgical Devices Market Attractiveness Analysis, by End-user, 2023–2031
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Ophthalmology Surgical Devices Market
