India Ophthalmology Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.30 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Ophthalmology Devices Market Analysis
The Indian ophthalmology devices market is expected to register a CAGR of 7.3% over the forecast period.
The COVID-19 pandemic was an unprecedented health concern that affected every sector in different ways. The WHO alerted the pandemic as a public health issue but in India, most ophthalmologists were not seeing the patients as the government imposed a nationwide lockdown during the pandemic. That is attributed to the high risk of transmission of SARS-CoV-2 during ophthalmic procedures. In December 2020, the MoHFW, the Government of India, released guidelines to minimize COVID-19 infection among Ophthalmologists, Ophthalmic assistants/technicians, nurses, support staff, patients, and their attendants. In addition, according to these guidelines, eye care facilities in containment zones were to remain closed, and only outside containment zone were allowed to open. This significantly impacted the demand for ophthalmic procedures and devices in the country. However, currently, as the pandemic subsided, the patient inflow in ophthalmic centres increased, and it was expected to pose a strong growth during the forecast period of the study.
Factors such as growing cataract surgeries volume, technological advancements in the field of ophthalmology, and rising geriatric population are expected to enhance the growth of the studied market during the forecast period of the study.
Ophthalmology-based diseases in India are increasing. For instance, according to an article published by the Indian Journal of Ophthalmology in May 2021, a study was conducted which showed that the crude and overall age-adjusted prevalence for any positive dry eye disease symptom was 6.5% and 6.8% in males and females respectively. Furthermore, according to an article published by the Lancet Global Health in October 2022, a study was conducted which showed the overall national prevalence of diabetic retinopathy was found to be around 12.3% in India. This showed that there is a significant and growing burden of ophthalmic diseases in India.
Furthermore, as per the 2021 statistics by the Ministry of Statistics and Program Implementation (MoSPI), India, the number of females and males in the elderly population is projected to reach 100.9 million and 92.9 million by 2031 respectively. Such an anticipated increase in the elderly population growth rate is also associated with th increasing number of cataract surgeries performed per year that, in turn, indicates the rising demand for ophthalmic devices in the country. For instance, in May 2022 as per the Union Helath Minister of the country, the country requires 49 lakh surgeries to clear the backlog of blindness due to cataract and 53.63 lakh surgeries are needed to clear the backlog of severe visual impairment due to cataract.
Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the lack of skilled professionals and the lack of awareness about ophthalmic diseases is likely to impede the market's growth.
India Ophthalmology Devices Market Trends
This section covers the major market trends shaping the India Ophthalmology Devices Market according to our research experts:
The Glaucoma Surgery Devices Segment is Expected to Hold A Significant Share in the Market Over the Forecast Period
Glaucoma surgery devices are used in the treatment of glaucoma disorder. Glaucoma disorder is characterized by progressive and irreversible damage to the optic nerve and is the leading cause of irreversible blindness in India.
According to the National Health Portal of India in March 2022, glaucoma is the leading cause of irreversible blindness in India, with at least 12 million people affected and nearly 1.2 million people blind from the disease. Thus, the number of patients in India suffering from glaucoma is increasing with the growing population. Such patients undergo surgery to treat glaucoma and are contributing to the rising demand for glaucoma surgical devices, including glaucoma drainage devices. Glaucoma drainage devices are the most used second-line surgical interventions for glaucoma.
In addition, the introduction of micro-invasive glaucoma surgery (MIGS) has allowed for improved management of patients with mild to moderate glaucoma. The field of MIGS has expanded rapidly in the last decade, owing to the ability of ophthalmic surgeons to tailor surgical approaches. This has augmented the usage of MIGS surgery devices in India. MIGS devices provide reduced surgery time, shorter recovery periods, affordability, and a low risk of post-surgical complications.
Moreover, presently, Selective Laser Trabeculoplasty (SLT) and Argon Laser Trabeculoplasty (ALT) are the commonly preferred glaucoma procedures in India, indicating a consistent demand for glaucoma surgery devices used in these procedures in the country. Therefore, the growth of the market is expected to be fueled by the growing demand for glaucoma surgery devices brought about by the aforementioned causes.
Spectacles Segment is Expected to Hold A Significant Share in the Market Over the Forecast Period
The major factors driving the growth of the spectacles segment are the increasing awareness among people about the use of spectacles, the rising prevalence of eye disorders, and the increasing geriatric population.
The rising prevalence of myopia and hypermetropia is the major factor driving the growth of the segment. For instance, according to an article published by PubMed Central in January 2022, 2 school-based studies were conducted in Delhi which included 5 to 19-year-old children, which documented a prevalence of myopia from 2.5% to 13%. The third population-based study noted a prevalence of 7.4% in 5 to 15-year-old subjects.
Moreover, according to an article published by the Asian journal of pharmaceutical and clinical research in April 2022, a cross-sectional study was conducted in India which showed that the cumulative prevalence of refractive errors was 35.21% among the students. The distribution among the type of refractive errors was: Myopia - 65.07%, Hypermetropia - 14.89%, and Astigmatism - 20.04%, and the prevalence among the male and female students was 34.91% and 35.55%, respectively. Hence, the rising prevalence of refractive disorders like myopia and hypermetropia will increase the adoption of spectacles, thus driving the growth of the segment.
Furthermore, product launches by key market players are also boosting the segment growth. For instance, in July 2022, EyeMyEye launched one of India's first ever range of color blind glasses.
Hence due to the aforementioned factors, the spectacles segment is expected to experience growth during the forecast period of the study.
India Ophthalmology Devices Industry Overview
The Indian Ophthalmology Devices market is highly fragmented, and it consists of a number of major players. Companies, such as Alcon Inc., Bausch Health Companies Inc., Johnson & Johnson, and Carl Zeiss Meditec AG, among others, hold substantial market shares in the ophthalmic device market. Furthermore, in August 2022, Swaraashi Netralya introduced two state-of-the-art ophthalmic devices 3nethra neo HD FA and the Mirante SLO/OCT in India. In regions far from medical facilities, these gadgets aid in the diagnosis of a wide range of ocular diseases affecting both children and adults.
India Ophthalmology Devices Market Leaders
Alcon
Carl Zeiss Meditec
Topcon Corporation
Johnson & Johnson
Bausch Health Companies Inc.
*Disclaimer: Major Players sorted in no particular order
India Ophthalmology Devices Market News
- June 2022: LUMIBIRD opened its new Indian subsidiary in Mumbai: Lumibird Medical India. This company aims to boost the sales of Quantel Medical and Ellex products in India which has a vast range of ultrasound platforms, ophthalmic lasers and equipment for the diagnosis and treatment of dry eye disease.
- January 2022: Alcon launched the presbyopia-correcting intraocular lens (PC-IOL) with wavefront-shaping technology, the AcrySof IQ Vivity IOL (Vivity), in India.
India Ophthalmology Devices Market Report - Table of Contents
1. INTRODUCTION
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 Growth in Cataract Volume
4.2.2 Technological Advancements in the Field of Ophthalmology
4.2.3 Rising Geriatric Population
4.3 Market Restraints
4.3.1 Shortage of Skilled Professionals
4.3.2 Low Awareness About Eye-related Diseases
4.4 Porter's Five Forces 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
5.1.1.1 Glaucoma Surgery Devices
5.1.1.2 Cataract Surgery Devices
5.1.1.3 Refractive Surgery Devices
5.1.1.4 Other Surgical Devices
5.1.2 Diagnostic and Monitoring Device
5.1.2.1 Autorefractors and Keratometers
5.1.2.2 Corneal Topography Systems
5.1.2.3 Ophthalmic Ultrasound Imaging Systems
5.1.2.4 Other Diagnostic and Monitoring Devices
5.1.3 Vision Care
5.1.3.1 Spectacles
5.1.3.2 Contact Lens
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 Essilor International SA
6.1.5 Hoya Corporation
6.1.6 Johnson & Johnson
6.1.7 Nidek Co. Ltd
6.1.8 Topcon Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Ophthalmology Devices Industry Segmentation
As per the scope of the report, ophthalmic devices are medical devices used in the identification and treatment of ocular defects or deficiencies and eye disorders. The ophthalmic devices are designed for diagnostics, surgical, and vision correction purposes. These devices are continuously gaining increased importance and adoption due to the high prevalence of various ophthalmic diseases, such as glaucoma, cataract, and other vision-related issues. The Indian Ophthalmology Devices market is segmented by Device (Surgical Device, Diagnostic and Monitoring Device, and Vision Care). The report offers the value (in USD million) for the above segments.
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India Ophthalmology Devices Market Research FAQs
What is the current India Ophthalmology Devices Market size?
The India Ophthalmology Devices Market is projected to register a CAGR of 7.30% during the forecast period (2024-2029)
Who are the key players in India Ophthalmology Devices Market?
Alcon, Carl Zeiss Meditec, Topcon Corporation, Johnson & Johnson and Bausch Health Companies Inc. are the major companies operating in the India Ophthalmology Devices Market.
What years does this India Ophthalmology Devices Market cover?
The report covers the India Ophthalmology Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Ophthalmology Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Ophthalmology Devices Industry Report
Statistics for the 2024 India Ophthalmology Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Ophthalmology Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
