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Ophthalmology Surgical Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product (Cataract Surgery Devices, Glaucoma Surgery Devices, Refractive Surgery Devices, and Other Surgical Devices), End-user, and Geography

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Market Snapshot

Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >5.5 %

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Market Overview

The Ophthalmology Surgical Devices Market studied was anticipated to grow with a CAGR of nearly 5.5% during the forecast period. The major factors driving the growth of the market are the global prevalence of various ophthalmic disorders such as glaucoma, cataract, and diabetic retinopathy and rise in the geriatric population resulting in the global burden of avoidable blindness. For instance, according to the International Council of Ophthalmology reports in 2019, cataract was responsible for 51% of world blindness which represented 20 million people in 2010 which directly resulted in higher demand for cataract surgeries fueling the growth of the market. The trend of the demand has similar throughout the previous decade across multiple geographic locations. Also, an increase in the investment by the key players in the ophthalmic devices sector is expected to boost the growth of the global ophthalmology surgical devices throughout the forecast period.

Scope of the Report

Ophthalmology surgical devices are used in retinal, refractive and cataract surgeries, diagnosis and in treatment of various ophthalmic diseases such as cataract, glaucoma, and refractive error. These devices are employed majorly when the disease is not diagnosed at an early stage thus, the demand for ophthalmic surgical devices increases to prevent visual impairment and loss of vision. These devices are systems and products including intraocular lenses (IOLs), ophthalmic viscoelastic devices (OVDs), glaucoma drainage systems, laser solutions, and consumables.

By Product
Refractive Surgery Devices
Glaucoma Surgery Devices
Cataract Surgery Devices
Other Surgical Devices
By End-user
Hospitals
Speciality Clinics
Ambulatory Surgical Centers
Geography
North America
United states
Canada
Mexico
Europe
France
Germany
United Kingdom
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Cataract Surgery Devices Segment is Expected to Hold the Largest Share in the Studied Market

The Cataract surgery devices segment is expected to witness the largest market revenue share in recent years and expected to do so over the forecast period. This dominance is owing to the higher demand to meet the rise in the volume of cataract surgeries globally. Also, cataract surgery remains the standard treatment to help restore vision for individuals with cataracts. For instance, according to the National Ophthalmology Database audit report published in September 2019, cataract surgery emerged as the most common surgical procedure in the United Kingdom with 414,000 cataract operations during 2017-2018. On the other hand, Glaucoma surgery devices segment is anticipated to witness the highest growth over the forecast period. The lucrative growth can be due to the global rising prevalence of diabetic glaucoma along with the technological developments in the glaucoma surgical devices fueling the market revenue.

Geriatric Trends by Region

North America Dominates the Market and Expected to do Same Over the Forecast Period.

North America is expected to dominate the overall ophthalmic surgical devices market throughout the forecast period due to a steep rise in incidences of cataract and diabetes with the rapid growth of elder individuals in the region. Furthermore, an increase in the investment by the key players and a huge pipeline of products in the ophthalmic devices sector along with a rise in approvals from the USFDA is expected to boost the growth of the market in the forecast period. For instance, in October 2019 Carl Zeiss AG, announced the launch of its next-generation product, CIRRUS 6000 in the United States. The CIRRUS 6000 is an ultra-fast 100kHz system that ensures the ophthalmologists avoid the errors and enhance the surgical procedure efficiency which directly drives for growth of the market in the region. Also, an increase in the availability of advanced healthcare infrastructure along with a huge number of hospitals and specialty clinics for effective treatment contributes to the outstanding market revenue in the region propelling the global ophthalmic surgical devices market.

DDDDD GEO

Competitive Landscape

The ophthalmology surgical devices market is moderately competitive and consists of several major players. Few of the key players are developing the new products with upgraded technologies to compete with the existing products trending in the market. For instance, in 2019, Bausch + Lomb Inc. launched the enVista toric MX60ET hydrophobic acrylic IOL with StableFlex technology which provides improved material properties to deliver enhanced optic recovery that increases the procedural efficiency which is likely to impel the global ophthalmology surgical devices market growth throughout the forecast period. Furthermore, few key players are entering into partnerships to develop their market position globally. Some of the companies which are currently dominating the market are Bausch & Lomb Incorporated, Johnson & Johnson, Topcon Corporation, Carl Zeiss AG, and Alcon Inc.

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increased Global Burden of Eye Disorders Along with Diabetes Coupled

      2. 4.2.2 Rise in Government Support to Control Visual Impairment and Rapid Advancements in the Ophthalmic Industry

    3. 4.3 Market Restraints

      1. 4.3.1 Higher Cost of the Ophthalmology Surgical Devices

      2. 4.3.2 Unfavorable Reimbursement Policies Pertaining to the Ophthalmic Surgery Industry

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Refractive Surgery Devices

      2. 5.1.2 Glaucoma Surgery Devices

      3. 5.1.3 Cataract Surgery Devices

      4. 5.1.4 Other Surgical Devices

    2. 5.2 By End-user

      1. 5.2.1 Hospitals

      2. 5.2.2 Speciality Clinics

      3. 5.2.3 Ambulatory Surgical Centers

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United states

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 France

        2. 5.3.2.2 Germany

        3. 5.3.2.3 United Kingdom

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bausch & Lomb Incorporated

      2. 6.1.2 Topcon Corporation

      3. 6.1.3 Johnson & Johnson

      4. 6.1.4 Carl Zeiss AG

      5. 6.1.5 Alcon Inc

      6. 6.1.6 Lumenis Ltd

      7. 6.1.7 Hoya Corporation

      8. 6.1.8 Ellex Medical Laser Ltd

      9. 6.1.9 STAAR Surgical Company

      10. 6.1.10 Ziemer Ophthalmic Systems AG

      2. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Ophthalmology Surgical Devices Market market is studied from 2018 - 2026.

The Ophthalmology Surgical Devices Market is growing at a CAGR of >5.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Bausch & Lomb Incorporated, Johnson & Johnson, Topcon Corporation, Carl Zeiss AG, Alcon Inc are the major companies operating in Ophthalmology Surgical Devices Market.

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