Impact Analysis of Covid-19

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Ophthalmology sector encompasses a wide array of various diagnostic devices, surgical procedures, and other equipment. These form the key aspects to ensure appropriate functionality of ophthalmological industry. The diagnostic devices assist the ophthalmologists to conduct detailed examination of the periphery and central areas of eyes and help in determination of ophthalmic disorders.

The global ophthalmology diagnostics and surgical devices market is estimated to account for US$ 43,047.7 Mn in terms of value in 2020 and is expected to reach US$ 67,449.1 Mn by the end of 2027.

Global Ophthalmology Diagnostics and Surgical Devices Market: Drivers

Increasing prevalence of ocular disorders is expected to propel growth of the global ophthalmology diagnostics and surgical devices market over the forecast period. For instance, according to The International Agency for the Prevention of Blindness, 80 million people are expected to suffer from glaucoma by 2020 compared to 20 million since 2010.

Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.     

Vision care held dominant position in the global ophthalmology diagnostics and surgical devices market in 2019, accounting for 70.2% share in terms of value, followed by Surgical and Diagnostic, respectively

Figure 1. Global Ophthalmology Diagnostics and Surgical Devices Market Share (%), by Value, by Type, 2019

Ophthalmology Diagnostics and Surgical Devices  | Coherent Market Insights

Global Ophthalmology Diagnostics and Surgical Devices Market: Restraints

Limitations in the applicability of some ophthalmic imaging and surgical systems is expected to limit growth of the market. It is challenging to image peripheral retina using intraoperative optical coherence tomography (iOCT) technologies. iOCT also has limitations in demonstrating deterioration of the image quality.

Moreover, high cost of intraoperative ophthalmic imaging and surgical systems is expected to limit growth of the market.

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Ophthalmology Diagnostics and Surgical Devices Market Report Coverage

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 40,381.6 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 6.6% 2027 Value Projection: US$ 67,449.1 Mn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Type:
    • Diagnostics: Autorefractometers, Slit Lamps, Tonometers, Ophthalmoscopes, Fundus Cameras, Optical Coherence Tomography, Others.
    • Surgical: Vitreoretinal Surgery, Cataract Surgery, Glaucoma Surgery, Refractive Surgery.
    • Vision Care: Contact Lens, Spectacles Lenses.
Companies covered:

Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Bausch & Lomb, Inc. (Valeant Pharmaceuticals), Carl Zeiss Meditec AG, CooperVision, Essilor International, Hoya Corporation, and Johnson & Johnson.

Growth Drivers:
  • Increasing geriatric population
  • Increasing ophthalmic diseases
Restraints & Challenges:
  • Side effects
  • High costs

Global Ophthalmology Diagnostics and Surgical Devices Market: Opportunities 

Increasing number of ophthalmology clinics & hospitals is expected to offer lucrative growth opportunities for players in the global ophthalmology diagnostics and surgical devices market. For instance, in July 2019, Covenant Surgical Partners partnered with U.S.-based De La Peña Eye Clinic to expand its eye surgery centers.

Moreover, R&D in ocular surgery is also expected to aid in growth of the market. For instance, in the May 2018 issue of American Academy of Ophthalmology’s journal Ophthalmology Retina researchers from Cole Eye Institute, Ohio, U.S., reported that iOCT imaging was obtained for 98.8% of PDR patients that underwent vitreoretinal surgery in the study and surgeons reported that iOCT provided valuable information for 50.6% of the patients.

The global ophthalmology diagnostics and surgical devices market was valued at US$ 40,381.6 Mn in 2019 and is forecast to reach a value of US$ 67,449.1 Mn by 2027 at a CAGR of 6.6% between 2020 and 2027.

Figure 2. Global Ophthalmology Diagnostics and Surgical Devices Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

Ophthalmology Diagnostics and Surgical Devices  | Coherent Market Insights

Market Trends/Key Takeaways

The market is witnessing significant development in iOCT. For instance, in February 2019, the study ‘Intraoperative optical coherence tomography of a dislocated intraocular lens’, published in the Journal of Ophthalmic and Vision Research, reported that iOCT can be used to successfully explant a dislocated intraocular lens without causing any retinal breaks.

The market is also witnessing significant use 3D technologies in ocular surgeries. For instance, the study, ‘THE INTEGRATIVE SURGICAL THEATER: Combining Intraoperative Optical Coherence Tomography and 3D Digital Visualization for Vitreoretinal Surgery in the DISCOVER Study’, published in September 2018, in the journal Retina, reported that the 4K screen provided improved visualization of the OCT data stream compared with the semitransparent ocular view and that integration of OCT into the digital visualization system may enhance intraoperative diagnostics of vitreoretinal surgery.

Global Ophthalmology Diagnostics and Surgical Devices Market: Competitive Landscape

Major players operating in the global ophthalmology diagnostics and surgical devices market include, Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Bausch & Lomb, Inc. (Valeant Pharmaceuticals), Carl Zeiss Meditec AG, CooperVision, Essilor International, Hoya Corporation, and Johnson & Johnson.

Global Ophthalmology Diagnostics and Surgical Devices Market: Key Developments

Major players in the market are focused on launching new services and products to expand their product portfolio. For instance, in May 2020, Alcon Laboratories, Inc. launched the “No Reason to Wait: Success Starts Now” program in order to aid Eye Care Professionals better understand the practice and patient benefits of treating the root cause of evaporative dry eye, Meibomian Gland Dysfunction (MGD).

Similarly, in May 2020, CooperVision launched Biofinity toric multifocal contact lenses in the U.S.

Factors such as increasing number of approvals and launches of novel optometry devices and rising prevalence of ophthalmic diseases are expected to fuel growth of the market. Rising prevalence of ophthalmic disease is expected to support growth of the market over the forecast period. For instance, according to the data published in the Glaucoma Research Foundation (GRF) in October 2017, glaucoma accounts for around 10 million visits to physicians annually in the U.S.

Restraints of the Global Ophthalmology Diagnostics and Surgical Devices Market

Moreover, high cost of intraoperative ophthalmic imaging and surgical systems is expected to limit growth of the market. Limitations in the applicability of some ophthalmic imaging and surgical systems is expected to limit growth of the market.

Key features of the study:

  • This report provides in-depth analysis of the global ophthalmology diagnostics and surgical devices market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the global ophthalmology diagnostics and surgical devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Bausch & Lomb, Inc. (Valeant Pharmaceuticals), Carl Zeiss Meditec AG, CooperVision, Essilor International, Hoya Corporation, and Johnson & Johnson
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The global ophthalmology diagnostics and surgical devices market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the market.

Detailed Segmentation

  • Global Ophthalmology Diagnostics and Surgical Devices Market, By Type:
    • Diagnostic
      • Autorefractometers
      • Slit Lamps
      • Tonometers
      • Ophthalmoscopes
      • Fundus Cameras
      • Optical Coherence Tomography
      • Others
    • Surgical
      • Vitreoretinal Surgery
      • Cataract Surgery
      • Glaucoma Surgery
      • Refractive Surgery
    • Vision Care
      • Contact Lens
      • Spectacles Lenses
  • Global Ophthalmology Diagnostics and Surgical Devices Market, By Geography:
    • North America
      • By Type
        • Diagnostic
          • Autorefractometers
          • Slit Lamps
          • Tonometers
          • Ophthalmoscopes
          • Fundus Cameras
          • Optical Coherence Tomography
          • Others
        • Surgical
          • Vitreoretinal Surgery
          • Cataract Surgery
          • Glaucoma Surgery
          • Refractive Surgery
        • Vision Care
          • Contact Lens
          • Spectacles Lenses
      • By Country:
        • U.S.
        • Canada
    • Europe
      • By Type
        • Diagnostic
          • Autorefractometers
          • Slit Lamps
          • Tonometers
          • Ophthalmoscopes
          • Fundus Cameras
          • Optical Coherence Tomography
          • Others
        • Surgical
          • Vitreoretinal Surgery
          • Cataract Surgery
          • Glaucoma Surgery
          • Refractive Surgery
        • Vision Care
          • Contact Lens
          • Spectacles Lenses
      • By Country:
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Type
        • Diagnostic
          • Autorefractometers
          • Slit Lamps
          • Tonometers
          • Ophthalmoscopes
          • Fundus Cameras
          • Optical Coherence Tomography
          • Others
        • Surgical
          • Vitreoretinal Surgery
          • Cataract Surgery
          • Glaucoma Surgery
          • Refractive Surgery
        • Vision Care
          • Contact Lens
          • Spectacles Lenses
      • By Country:
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • By Type
        • Diagnostic
          • Autorefractometers
          • Slit Lamps
          • Tonometers
          • Ophthalmoscopes
          • Fundus Cameras
          • Optical Coherence Tomography
          • Others
        • Surgical
          • Vitreoretinal Surgery
          • Cataract Surgery
          • Glaucoma Surgery
          • Refractive Surgery
        • Vision Care
          • Contact Lens
          • Spectacles Lenses
    • Middle East:
      • By Type
        • Diagnostic
          • Autorefractometers
          • Slit Lamps
          • Tonometers
          • Ophthalmoscopes
          • Fundus Cameras
          • Optical Coherence Tomography
          • Others
        • Surgical
          • Vitreoretinal Surgery
          • Cataract Surgery
          • Glaucoma Surgery
          • Refractive Surgery
        • Vision Care
          • Contact Lens
          • Spectacles Lenses
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Type
        • Diagnostic
          • Autorefractometers
          • Slit Lamps
          • Tonometers
          • Ophthalmoscopes
          • Fundus Cameras
          • Optical Coherence Tomography
          • Others
        • Surgical
          • Vitreoretinal Surgery
          • Cataract Surgery
          • Glaucoma Surgery
          • Refractive Surgery
        • Vision Care
          • Contact Lens
          • Spectacles Lenses
      • By Country/Region:
        • Central Africa
        • South Africa
        • North Africa
  • Company Profiles
    • Abbott Medical Optics, Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Alcon Laboratories, Inc.
    • Bausch & Lomb, Inc. (Valeant Pharmaceuticals)
    • Carl Zeiss Meditec AG
    • CooperVision
    • Essilor International
    • Hoya Corporation
    • Johnson & Johnson

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. Global Ophthalmology Diagnostics and Surgical Devices Market, By Type, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • Diagnostic
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
        • Autorefractometers
        • Slit Lamps
        • Tonometers
        • Ophthalmoscopes
        • Fundus Cameras
        • Optical Coherence Tomography
        • Others
    • Surgical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
        • Vitreoretinal Surgery
        • Cataract Surgery
        • Glaucoma Surgery
        • Refractive Surgery
    • Vision Care
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
      • Segment Trends
        • Contact Lens
        • Spectacles Lenses
  5. Global Ophthalmology Diagnostics and Surgical Devices Market, By Regions, 2017 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2019–2027
      • Segment Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.S.
        • Canada
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • China
        • India
        • Japan
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2019 – 2027, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  6. Competitive Landscape
    • Company Profiles
      • Abbott Medical Optics, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Alcon Laboratories, Inc.
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Bausch & Lomb, Inc. (Valeant Pharmaceuticals)
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Carl Zeiss Meditec AG
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • CooperVision
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Essilor International
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Hoya Corporation
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Johnson & Johnson
        • Company Overview
        • Product Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 34 market data tables and 28 figures on “Ophthalmology Diagnostics and Surgical Devices Market – Global forecast to 2027.

Frequently Asked Questions

The global ophthalmology diagnostics and surgical devices market was valued at US$ 40,381.6 Mn in 2019 and is forecast to reach a value of US$ 67,449.1 Mn by 2027 at a CAGR of 6.6% between 2020 and 2027.
hich are the key factors driving the growth of the ophthalmology diagnostics and surgical devices market?
Major factors hampering the growth of the ophthalmology diagnostics and surgical devices market during the forecast period constitutes of side effects associated with drugs and devices, and high costs.
Vision care held dominant position in the global ophthalmology diagnostics and surgical devices market in 2019.
North America Ophthalmology Diagnostics and Surgical Devices market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Abbott Medical Optics, Inc., Alcon Laboratories, Inc., Bausch & Lomb, Inc. (Valeant Pharmaceuticals), Carl Zeiss Meditec AG, CooperVision, Essilor International, Hoya Corporation, and Johnson & Johnson.
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