Global Ophthalmic Surgical Instruments Market Worth USD 15.02 Billion By 2028
The global ophthalmic surgical instruments market size is expected to reach USD 15.02 billion by 2028 according to a new study by Polaris Market Research.
The different types of ophthalmic surgical instruments include microscopes, illumination devices, phacoemulsification instruments, lasers, intraocular lenses, shunts & related drainage devices, viscoelastic devices, and surgical accessories. Operating microscopes are widely used for providing detailed imaging during surgery.
The microscopes are equipped with advanced optics and illumination for high-quality imaging at lower light intensities to offer superior precision. Market players are introducing advanced microscopes integrated with technologies such as intraocular lens positioning guidance, optical coherence tomography, and 3D display to offer enhanced services to customers.
The different applications of the instruments include cataract surgery, glaucoma surgery, refractive surgery, vitreoretinal surgery, and others. There has been a high demand for ophthalmic surgical instruments for cataract surgery. The increasing use of ophthalmic surgical instruments for the treatment of cataracts, coupled with technological advancements for the delivery of effective healthcare services drives the market growth.
Governments across the globe are investing significantly in the development of advanced healthcare infrastructure, boosting market growth. Changing consumer lifestyles, increasing geriatric population, rising occurrence of diseases such as hypertension and diabetes further supplements the growth of this segment.
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Ophthalmic surgical instruments are used in hospitals, clinics, ambulatory surgery centers, and others. The hospital segment accounted for the highest share in 2019. The increasing occurrence of ocular diseases coupled with government initiatives to offer advanced healthcare services to citizens supports the growth of this segment. Availability of advanced equipment and financial funds, and the introduction of medical schemes have increased the adoption of ophthalmic surgical instruments in hospitals.
North American market dominated the global ophthalmic surgical instruments industry in 2020 and is expected to maintain its dominance over the forecast period. However, Asia-Pacific is expected to exhibit significant growth during the forecast period. Increasing geriatric population, increasing health awareness, and growth in the healthcare sector fuel growth in this region. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
The ophthalmic surgical instruments industry is characterized by the presence of numerous small and large market players. Owing to technological advancements, and the greater need to cater to customer requirements, companies are collaborating in order to strengthen the market presence and gain market share.
Top Market Players
Some major market participants include Carl Zeiss Meditec, Ellex Medical Lasers, Lumenis, Staar Surgical, Alcon, Leica Microsystem, Hoya, Quantel Medical, Novartis AG, Bausch + Lomb, Topcon, Iridex, Ziemer Ophthalmic Systems, NIDEK CO., LTD., and Johnson & Johnson.
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Polaris Market Research has segmented the ophthalmic surgical instruments market report on the basis of product, application, end-use, and region:
Ophthalmic Surgical Instruments Product Outlook (Revenue, USD Million, 2016 – 2028)
- Ophthalmic Microscopes
- Illumination Devices
- Phacoemulsification Instruments
- Ophthalmic Lasers
- Intraocular Lenses
- Shunts & Related Drainage Devices
- Ophthalmic Viscoelastic Devices
- Ophthalmic Surgical Accessories
Ophthalmic Surgical Instruments Application Outlook (Revenue, USD Million, 2016 – 2028)
- Cataract Surgery
- Glaucoma Surgery
- Refractive Surgery
- Vitreoretinal Surgery
Ophthalmic Surgical Instruments End-Use Outlook (Revenue, USD Million, 2016 – 2028)
- Ambulatory Surgery Centers
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