by Ophthalmic conditions like refractive errors, cataracts, age-related macular degeneration etc. have become more prevalent globally. Ophthalmology diagnostics and surgical devices like retinal imaging systems, vitreo-retinal surgery devices, ophthalmic viscoelastic devices play a key role in screening, diagnosing and treating such ocular ailments. These devices help ophthalmologists perform complex surgeries with enhanced precision and visibility, reducing risks and recovery times for patients. The global Ophthalmology Diagnostics and Surgical Devices Market is estimated to be valued at US$ 60071 Bn in 2024 and is expected to exhibit a CAGR of 24 % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends driving the Ophthalmology Diagnostics and Surgical Devices Market is the rising popularity of minimally invasive glaucoma surgeries. Glaucoma, the second leading cause of blindness worldwide, requires frequent monitoring and treatment. With advances in micro-invasive glaucoma surgery technologies that offer lower risks, faster recovery times and comparable outcomes to traditional incisional surgeries, more ophthalmologists and patients are opting for such alternatives. This has significantly boosted adoption of devices used for minimally invasive glaucoma surgeries over the past decade. The increasing preference for less traumatic surgical options for glaucoma treatment is expected to propel continued demand.
Segment Analysis
The global ophthalmology diagnostics and surgical devices market is dominated by ophthalmic surgical devices sub segment. This segment accounts for more than 50% of the overall market share owing to rise in prevalence of eye disorders such as cataract, refractive errors and glaucoma along with growing geriatric population globally. The ophthalmic diagnostic devices segment is expected to witness highest growth during the forecast period primarily due to technological advancements leading to development of advanced diagnostic devices having application in detection and management of various eye diseases.
Key Takeaways
The Global Ophthalmology Diagnostics And Surgical Devices Market Demand is expected to witness high growth during the forecast period of 2024 to 2031.
Regional analysis shows that North America is currently dominating the market owing to increasing healthcare expenditure and growing adoption of advanced technology based ophthalmic devices. Europe and Asia Pacific regions are expected to witness fastest growth due to rising healthcare awareness levels and improving accessibility to advanced treatment options.
Key players operating in the ophthalmology diagnostics and surgical devices are WGL Holdings, Inc., Enking International.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
