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Eye Care Surgical Market

Eye Care Surgical Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Medical Devices | Author Name: Sayali

Globally, visual impairments have witnessed a steady surge over the past few years. Serious eye conditions, near or distance visual impairment, and blindness pose significant risks to quality of life and overall psychological well-being. Rapid growth in the world’s geriatric population, widespread prevalence of diabetes, and nutrition deficit lifestyles have increased the incidence of eye-related disorders and diseases among the global population. In this context, there has been an exponential increase in the demand for reliable eye care surgical devices, creating promising opportunities in the global eye care surgical market. Essentially, advanced eye care procedures enable healthcare practitioners (HCPs) to diagnose and treat eye diseases using sophisticated eye care surgical devices that are available in the form of consumables, systems, and products.

Today, advancements in the eye care surgical market have substantially improved the diagnosis and treatment of various eye conditions such as glaucoma, age-related macular degeneration, trachomatous trichiasis, and diabetic retinopathy. Consequently, health institutions and non-profit organizations are driven to increase their investments in the global eye care surgical market to offer enhanced patient care and better access in managing serious eye conditions. Over the forecast period, these global commitments are poised to influence strategic public-private partnerships, eye health awareness campaigns, and rigorous R&D initiatives in the eye care surgical market. These developments are expected to steer the eye care surgical market to sound maturity.

Global Magnitude of Eye Diseases Creates Robust Case for Advanced Eye Care Procedures

According to WHO, globally, almost 2.2 billion people have a vision impairment. Out of these, at least 1 billion people have a vision impairment that is yet to be treated or could have been prevented. Moreover, around 11.9 million across the globe suffer from moderate or severe vision impairment due to trachoma, diabetic retinopathy, and glaucoma that could have been prevented. As of 2019, global estimates of people affected by age-related macular degeneration (196 million), diabetic retinopathy (146 million), unaddressed refractive error (123.7 million), glaucoma (76 million), cataract (65.2 million), and trachomatous trichiasis (2.5 million) has magnified the need for reliable, accessible, and advanced eye care surgical procedures.

These alarming figures have propelled international health institutions, governments, and leading healthcare organizations to collaborate across borders towards improving the global eye care surgical market. In the coming years, prominent industry players are projected to adopt proactive growth strategies by engaging in mergers, collaborations, acquisitions, open innovation, and strategic partnerships with HCPs to harness the untapped potential of the global eye care surgical market.

Eye Conditions Increase Amid Growing Geriatric Population, Rising Incidence of Diabetes

The global population of senior citizens has been consistently rising. By 2050, 1 in 6 people in the world will be over the age of 65. This population increase runs parallel to the high incidence of diabetes among older people and even young adults. Nearly 537 million adults were living with diabetes in 2021, and by 2030, this number is expected to increase to 643 million. The twin force of these factors has significantly increased the occurrence of visual impairments, majorly in urban areas. This rapidly rising geriatric population is more prone to eye diseases that are common in old age such as cataract, glaucoma, and age-related macular degeneration. Besides, the widespread prevalence of diabetes is predicted to directly increase the incidence of diabetic retinopathy.

As a result, surgical devices have drawn remarkable demand over the past few years. Eye care surgical devices such as excimer laser systems, intraocular lenses (IOLs), glaucoma drainage systems, ophthalmic viscoelastic devices (OVDs), and consumables are anticipated to attract robust demand during the assessment period, translating into promising growth outcomes for the global eye care surgical market.

Despite this promising market scenario, the eye care surgical market is anticipated to witness market restrictions due to the high cost of eye care surgeries and surgical devices, safety concerns around complex surgeries, and shortage of skilled HCPs in the eye care industry. However, market players are poised to overcome these challenges through partnerships to reduce the cost of surgeries and intense R&D initiatives to develop safer, more effective eye care surgical devices.

Hospitals, Clinics Emerge as Key Demand Pool Owing to Surgeries to Treat Eye Conditions

The global care surgical market is majorly segmented on the basis of product, region, and end-user. On the basis of product, the market is classified into refractive surgical devices, glaucoma surgical devices, cataract surgical devices, ophthalmic microscopes, vitreoretinal surgical devices, and essential accessories.

These surgical devices are further divided based upon the type of eye conditions. For instance, the cataract surgical devices segment is divided into phacoemulsification systems, viscoelastics, and intraocular lenses; glaucoma surgical devices are divided into glaucoma drainage systems, implants and stents, and glaucoma laser devices; refractive surgical devices are classified into microkeratomes and excimer & femtosecond lasers; whereas, the vitreoretinal surgical devices are sub-divided into illumination devices, vitrectomy machines and vitrectomy packs, and photocoagulation lasers.

As far as end-users are concerned, the eye care surgical market is divided into hospitals, clinics, and others. Throughout the study period, hospitals and clinics are poised to be the foremost end-users as all eye-related procedures are conducted by HCPs in the controlled environments of hospitals and clinics.

North America Leads in Global Eye Care Surgical Market; Asia Pacific Emerging Region

North America is set to sustain its dominance in the global eye care surgical market. In this region, the presence of key market players, awareness about eye diseases, technologically advanced eye care surgical procedures, rise in national healthcare budgets, and rising incidence of serious eye conditions are expected to drive market expansion. On the other hand, Asia Pacific is rising as a strong contender in the global landscape owing to sound support from governments and programs run by NGOs to offer better eye care to all sections of the society.

Some of the key players in the global eye care surgical market include Bausch & Lomb Incorporated, NIDEK CO., LTD., Johnson & Johnson Vision Care, Inc., Ziemer Ophthalmic Systems, Carl Zeiss AG, STAAR SURGICAL, Glaukos Corporation, IRIDEX Corporation, HOYA Corporation, Ellex Inc., Alcon (Novartis AG), and TOPCON CORPORATION.

Global Eye Care Surgical Market is Segmented as Below:

By Application

  • Refractive Surgery
  • Glaucoma Surgery
  • Cataract Surgery
  • Oculoplastic Surgery
  • Vitreo-Retinal Surgery
  • Corneal Surgery
  • Others

By End User

  • Hospitals
  • Eye Research Institutes
  • Ophthalmology Clinics
  • Ambulatory Surgical Centers

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • LAMEA
    • South Africa
    • Saudi Arabia
    • Brazil
    • Rest of LAMEA

Key Elements Included In The Study: Global Eye Care Surgical Market

  • Eye Care Surgical Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value, 2018 - 2021
  • Market Value at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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