France Ophthalmic Devices Market Size
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
*Disclaimer: Major Players sorted in no particular order
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France Ophthalmic Devices Market Analysis
The French Ophthalmic Devices Market is expected to grow at a CAGR of 4.1% over the forecast period (2022-2027).
The COVID-19 pandemic impacted the studied market significantly. Since only emergency cases were allowed for treatment and diagnosis, the market growth for ophthalmic devices decreased during the initial phase of the pandemic. However, the increasing cases of eye diseases in France during the pandemic are anticipated to drive market growth. For instance, as per the study titled 'COVID-19 Changed Prevalence, Disease Spectrum and Management Strategies of Ocular Trauma' published in January 2022, in France, the incidence of ocular trauma caused by alcohol-based hand sanitizer in children increased by seven times in 2020 compared with the same period in 2019, with nearly 38% of patients with corneal ulcers involving over 50% of the ocular surface and nearly 13% of patients requiring amniotic membrane transplantation. Such instances argue for an increase in the use of ophthalmic devices used for surgeries and transplantations. This is expected to have a positive impact on the market under study. Therefore, the pandemic is expected to significantly impact the studied market growth.
Factors such as the increase in the geriatric population, demographic shift, and increasing prevalence of eye diseases are fuelling market growth.
With the increasing aging population, the prevalence of associated diseases, including eye-related diseases, is also increasing in France. As per the United Nations Population Fund's World Population Dashboard Statistics 2021, about 21.1% of individuals in France are 65 or older. Since vision loss and refraction errors are more common among the elderly, the need for the use of lenses is predicted to rise over the forecast period. Additionally, as the people of France are focused on aesthetic appeal, the use of powered contact lenses is expected to increase in the country, further driving the ophthalmic device market in France.
Furthermore, the increasing number of eye diseases in the country is creating opportunities for the studied market. The research article 'Refractive errors in a large dataset of French children: the ANJO study' published in March 2022, mentioned that when the cohort study was conducted to show the proportions of refractive errors (RE) in French children using cycloplegic refraction, RE was found frequently among the target French population, especially hyperopia and anisometropia, which are major risk factors for amblyopia. Thus, such a burden of eye disorders among school-going children in France demands the availability of ophthalmic devices for screening, diagnosis, and treatment. thus fuelling the market's growth over the forecast period.
Therefore, owing to the abovementioned factors, the market under study is anticipated to witness growth over the forecast period. However, the risk associated with ophthalmic procedures is anticipated to hinder market growth over the forecast period.
France Ophthalmic Devices Market Trends
This section covers the major market trends shaping the France Ophthalmic Devices Market according to our research experts:
Contact Lenses Segment is Expected to Hold Significant Market Share Over the Forecast Period
Contact lenses are thin, clear plastic disks used to improve vision. Contacts float on the tear film that covers the cornea. Like eyeglasses, contact lenses correct vision problems caused by RE. Due to factors such as the rising prevalence of myopia, hypermetropia, astigmatism, and presbyopia, increasing preference for contact lenses over prescription eyeglasses, and the growing geriatric population, contact lens use in France is expected to grow.
A multifactorial condition of the ocular surface known as dry eye disease (DED) is characterized by a loss of the tear film's equilibrium and is followed by ocular signs and symptoms such as corneal and conjunctival damage, patient discomfort, and visual impairment. An article 'Dry eye syndrome risk factors: A systemic review' published in February 2022 reported that DED is one of the most prevalent diagnoses in ophthalmology clinics in France and that the average cost of DED in France is USD 270,000. This cost of the disease shows a rise in eye disorders in the country. In addition, according to the article 'Influence of Face Masks on the Use of Contact Lenses' published in July 2021, the incidence of dry eye worldwide ranges between 5% and 50%, among contact lens wearers and non-wearers, but it is slightly higher in France which is at 39.2%.
In this context, as per the article 'Silicone Hydrogel Contact Lenses: A Complete Guide' published in March 2022, most people switch to silicone-based hydrogel lenses because these lenses don't let the water evaporate as quickly as other contact lenses do, which may reduce dry eye better than conventional hydrogel contacts. This burden of DED generates demand for the availability of silicon-based hydrogel contact lenses. Hence, the burden of DED is expected to drive the demand for contact lenses, which is further predicted to fuel the segment's growth.
Moreover, the 'Eye diseases and disorders' published by Foundation de France and updated in January 2022 stated that age-related macular degeneration (AMD) is the leading cause of visual impairment for people of age 50 and over in France. Thus, supporting research in the field of ophthalmology and in particular, the biology, physiology, and treatment of eye diseases has been increasing in the country recently. This is expected to create an opportunity for contact lens use in the country by the target population, driving segment growth.
Therefore, the segment is expected to witness growth over the analysis period due to the abovementioned factors.
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France Ophthalmic Devices Industry Overview
The France Ophthalmic Devices Market is competitive. The market consists of some global or regional market players. Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, EssilorLuxottica SA, HAAG-Streit Group, Hoya Corporation, Johnson and Johnson, Nidek Co. Ltd, Topcon Corporation, and Ziemer Ophthalmic Systems AG are some of the major players in the market studied, among others.
France Ophthalmic Devices Market Leaders
Carl Zeiss Meditec Group
Ziemer Ophthalmic Systems
*Disclaimer: Major Players sorted in no particular order
France Ophthalmic Devices Market News
- In June 2022, HOYA VISION CARE acquired Medic'Oeil, a network of ophthalmology practices in France. Medic'Oeil operates a total of seven centers in different regions where vision care equipment and administrative resources are shared between a number of ophthalmologists.
- In March 2022, The Nov Sante Actions Non Cotees fund - initiated by France Assureurs and Caisse des Depots, managed by Eurazeo, and focused on developing the French healthcare sector completed a Euro 23 million investment in Horus Pharma, a French pharmaceuticals company specializing in ophthalmology, which has reorganized its ownership structure.
France Ophthalmic Devices Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Demographic Shift and Increasing Prevalence of Eye Diseases
4.2.2 Rising Geriatric Population
4.3 Market Restraints
4.3.1 Risk Associated with Ophthalmic Procedures
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Devices
5.1.1 Surgical Devices
184.108.40.206 Glaucoma Drainage Devices
220.127.116.11 Glaucoma Stents and Implants
18.104.22.168 Intraocular Lenses
22.214.171.124 Other Surgical Devices
5.1.2 Diagnostic and Monitoring Devices
126.96.36.199 Autorefractors and Keratometers
188.8.131.52 Corneal Topography Systems
184.108.40.206 Ophthalmic Ultrasound Imaging Systems
220.127.116.11 Optical Coherence Tomography Scanners
18.104.22.168 Other Diagnostic and Monitoring Devices
5.1.3 Vision Correction Devices
22.214.171.124 Contact Lenses
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alcon Inc.
6.1.2 Bausch Health Companies Inc.
6.1.3 Carl Zeiss Meditec AG
6.1.4 EssilorLuxottica SA
6.1.5 HAAG-Streit Group
6.1.6 Hoya Corporation
6.1.7 Johnson and Johnson
6.1.8 Nidek Co. Ltd
6.1.9 Topcon Corporation
6.1.10 Ziemer Ophthalmic Systems AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
France Ophthalmic Devices Market Research FAQs
What is the current France Ophthalmic Devices Market size?
The France Ophthalmic Devices Market is projected to register a CAGR of 4.1% during the forecast period (2023-2028).
Who are the key players in France Ophthalmic Devices Market?
EssilorLuxottica SA, Alcon Inc., Carl Zeiss Meditec Group, Ziemer Ophthalmic Systems and NIDEK SA are the major companies operating in the France Ophthalmic Devices Market.
France Ophthalmic Devices Industry Report
Statistics for the 2023 France Ophthalmic Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. France Ophthalmic Devices analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.