The growing number of people with eye diseases, technological advancement in ophthalmic equipment, and the rising adoption of contact lenses and spectacles across the globe are the major factors driving the growth of this market.
The Ophthalmic Equipment Market is projected to reach USD 65.8 Billion by 2027 from USD 56.4 Billion in 2022, at a CAGR of 3.1% during the forecast period.
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Based on diagnostic and monitoring devices type, the ophthalmic equipment market is segmented into optical coherence tomography (OCT) scanners, ophthalmic ultrasound imaging systems, fundus cameras, ophthalmoscopes, retinoscopes, wavefront aberrometers, corneal topography systems, autorefractors and keratometers, phoropters, specular microscopes, perimeter/visual field analyzers, tonometers, slit lamps, lensmeters, optical biometry systems, and chart projectors.
On the basis of ophthalmology surgical devices type, the ophthalmic equipment market is segmented into cataract surgical devices, glaucoma surgical devices, refractive surgical devices, vitreoretinal surgical devices, ophthalmic microscopes, and accessories. The cataract surgical devices segment accounted for the major share of the ophthalmology surgical devices market. The large share of this segment is majorly attributed to the growing number of eye disorders in the geriatric population.
North America is expected to account for the largest share of the ophthalmic equipment market in 2022, followed by Europe. The large share of this region is attributed to the presence of developed healthcare systems in the US & Canada, increasing number of eye disorders along with rising aging population, and availability of technologically advanced ophthalmic devices.
The prominent players in the ophthalmic equipment market are Essilor (France), Alcon (Switzerland), Johnson & Johnson Vision Care (US), Bausch + Lomb (US), Haag-Streit (Switzerland), TOPCON (Japan), Carl Zeiss Meditec (Germany), NIDEK (Japan), STAAR Surgical (US), HOYA (Japan), and Ziemer Ophthalmic Systems (Switzerland)