The global ophthalmic devices market was valued at USD 25.04 billion in 2019, and it's expected to grow to USD 32.36 billion by 2027, with an average annual growth rate (CAGR) of 4.2%. In 2019, North America led the market, holding a 42.09% share.
The need for quality eye care is growing fast because more people around the world are dealing with vision problems. A 2015 report by the World Health Organization (WHO) and the Brien Holden Vision Institute predicted that by 2050, about 52% of the global population could have myopia (nearsightedness), and 10% could suffer from high myopia. Ophthalmic devices include tools used for diagnosing and treating eye problems, surgical instruments, and products like glasses or contact lenses that help improve vision. Thanks to new technology, especially in intraocular lenses and other advanced tools, the demand for these devices is rising. More people are also getting eye surgeries than before. For example, in 2018, the American Academy of Ophthalmology (AAO) reported that around 3.9 million cataract surgeries were done in the United States alone.
Tariff Impact Analysis for Ophthalmic Devices Market
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Ophthalmic Devices Market Overview
The Ophthalmic Devices Market is growing steadily as more people around the world face eye-related issues due to aging, digital screen exposure, and lifestyle changes. These devices are essential for diagnosing, treating, and managing a wide range of eye conditions like cataracts, glaucoma, refractive errors, and retinal diseases. With technology improving and eye care awareness increasing, this market is becoming a vital part of the global healthcare system.
Market Trends
One major trend in the Ophthalmic Devices Market is the rising demand for minimally invasive procedures. Patients prefer quick, painless treatments, which is driving the development of advanced devices like laser systems and digital imaging tools. Another trend is the growing use of AI and smart technologies in ophthalmology. Devices now come with smart imaging, automated analysis, and telemedicine features, making eye exams faster and more accurate. There's also a surge in demand for home-use diagnostic tools, especially after the COVID-19 pandemic, as patients want to monitor their eye health from home. Lastly, companies are focusing on portable and user-friendly devices, making it easier for clinics and mobile units to provide eye care in remote areas.
List Of Key Companies Profiled: