The global ophthalmology devices market is valued at USD 7.51 billion in 2024 and is projected to grow to USD 7.89 billion in 2025, reaching USD 12.39 billion by 2034 at a CAGR of 5.14%.
The market is expanding due to the rising prevalence of visual conditions such as diabetic retinopathy, cataracts, glaucoma, and vitreoretinal diseases. Government initiatives like the WHO’s SPECS 2030 program aim to improve access to corrective eyewear, further fueling demand. Additionally, the aging global population is more susceptible to age-related eye disorders, boosting ophthalmic device adoption.
Key Market Highlights
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Market Size 2024: USD 7.51 billion
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Market Forecast 2034: USD 12.39 billion
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CAGR (2025–2034): 5.14%
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North America: Dominated with 34% revenue share in 2024
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Asia Pacific: Expected to grow at the fastest CAGR
Top Ophthalmology Devices Companies
1. Alcon Inc.
About: A global leader in eye care solutions headquartered in Switzerland.
Products: Surgical equipment, contact lenses, intraocular lenses, and eye care products.
Market Cap: Approx. USD 39 billion.
2. Johnson & Johnson Vision
About: A division of Johnson & Johnson, focusing on comprehensive vision care solutions.
Products: Contact lenses, surgical equipment, and eye health solutions.
Market Cap (J&J): Around USD 380 billion.
3. Bausch + Lomb
About: A leading eye health company serving over 100 countries.
Products: Ophthalmic surgical devices, pharmaceuticals, and contact lenses.
Market Cap: Approx. USD 5.2 billion.
4. Carl Zeiss Meditec AG
About: A German manufacturer specializing in optical systems for medical applications.
Products: Diagnostic devices, surgical microscopes, and refractive laser systems.
Market Cap: Approx. USD 11 billion.
5. Hoya Corporation
About: A Japanese multinational offering medical and optical products.
Products: Intraocular lenses, eyeglass lenses, and medical imaging solutions.
Market Cap: Approx. USD 36 billion.
6. EssilorLuxottica
About: World’s largest eyewear and lens manufacturer.
Products: Prescription lenses, sunglasses, and optical instruments.
Market Cap: Approx. USD 92 billion.
7. CooperVision, Inc.
About: A subsidiary of CooperCompanies, specializing in contact lens manufacturing.
Products: Soft contact lenses, toric lenses, and specialty lenses.
Market Cap (CooperCompanies): Approx. USD 15 billion.
8. Topcon Corporation
About: Japanese company known for precision optical equipment.
Products: Ophthalmic diagnostic instruments and imaging systems.
Market Cap: Approx. USD 2.5 billion.
9. NIDEK Co., Ltd.
About: Manufacturer of ophthalmic and optometric instruments.
Products: Diagnostic devices, surgical systems, and optical finishing equipment.
Market Cap: Approx. USD 1 billion.
10. Canon Medical Systems
About: A subsidiary of Canon Inc., specializing in medical imaging.
Products: Optical coherence tomography (OCT) and retinal imaging devices.
Market Cap (Canon Inc.): Approx. USD 23 billion.
11. Ziemer Ophthalmic Systems
About: Swiss company focusing on ophthalmic surgical devices.
Products: Femtosecond lasers and diagnostic systems.
Market Cap: Private company, valuation undisclosed.
12. Lumenis
About: A global leader in laser-based ophthalmic solutions.
Products: Laser photocoagulation and refractive surgery systems.
Market Cap: Private company, acquired by Boston Scientific for USD 1.07 billion.
13. Haag-Streit Group
About: Swiss company providing ophthalmic diagnostic instruments.
Products: Slit lamps, tonometers, and perimeters.
Market Cap: Private company.
14. Glaukos Corporation
About: U.S.-based company focused on glaucoma treatment innovations.
Products: Micro-invasive glaucoma surgery (MIGS) devices and corneal health solutions.
Market Cap: Approx. USD 3.2 billion.
15. Ellex Medical Lasers Ltd.
About: Australian company specializing in laser systems for ophthalmology.
Products: Retinal, glaucoma, and refractive surgery lasers.
Market Cap: Private company.
16. IRIDEX Corporation
About: U.S.-based medical device company focusing on ophthalmic lasers.
Products: Retinal laser photocoagulation and glaucoma treatment systems.
Market Cap: Approx. USD 40 million.
17. SCHWIND eye-tech-solutions
About: German manufacturer of excimer and femtosecond lasers.
Products: Refractive surgery lasers and diagnostics.
Market Cap: Private company.
18. STAAR Surgical
About: U.S. company specializing in implantable contact lenses.
Products: EVO Visian ICL and related refractive products.
Market Cap: Approx. USD 2 billion.
19. OCULUS Optikgeräte GmbH
About: German company producing high-precision ophthalmic devices.
Products: Diagnostic instruments and visual field analyzers.
Market Cap: Private company.
20. Quantel Medical (Lumibird Group)
About: French manufacturer of laser and ultrasound ophthalmic devices.
Products: Photocoagulation lasers and diagnostic ultrasound systems.
Market Cap (Lumibird Group): Approx. USD 300 million.
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Frequently Asked Questions (FAQs)
Q1. What is the current size of the global ophthalmology devices market?
The market size is valued at USD 7.51 billion in 2024 and is expected to grow steadily at a CAGR of 5.14%.
Q2. Which region dominates the ophthalmology devices market?
North America held the largest market share in 2024, with 34% revenue contribution.
Q3. What factors are driving the growth of the ophthalmology devices market?
Key drivers include the rising prevalence of eye diseases, government initiatives, and aging population growth.
Q4. Which company is the largest player in the ophthalmology devices market?
Alcon Inc. and EssilorLuxottica are among the largest global players.
Q5. What is the forecast for the ophthalmology devices market by 2034?
The market is projected to reach USD 12.39 billion by 2034.
Source : https://www.towardshealthcare.com/insights/ophthalmology-devices-market-sizing
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