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.
Market Size 2024: USD 7.51 billion
Market Forecast 2034: USD 12.39 billion
CAGR (2025–2034): 5.14%
North America: Dominated with 34% revenue share in 2024
Asia Pacific: Expected to grow at the fastest CAGR
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.
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.
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.
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.
About: A Japanese multinational offering medical and optical products.
Products: Intraocular lenses, eyeglass lenses, and medical imaging solutions.
Market Cap: Approx. USD 36 billion.
About: World’s largest eyewear and lens manufacturer.
Products: Prescription lenses, sunglasses, and optical instruments.
Market Cap: Approx. USD 92 billion.
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.
About: Japanese company known for precision optical equipment.
Products: Ophthalmic diagnostic instruments and imaging systems.
Market Cap: Approx. USD 2.5 billion.
About: Manufacturer of ophthalmic and optometric instruments.
Products: Diagnostic devices, surgical systems, and optical finishing equipment.
Market Cap: Approx. USD 1 billion.
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.
About: Swiss company focusing on ophthalmic surgical devices.
Products: Femtosecond lasers and diagnostic systems.
Market Cap: Private company, valuation undisclosed.
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.
About: Swiss company providing ophthalmic diagnostic instruments.
Products: Slit lamps, tonometers, and perimeters.
Market Cap: Private company.
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.
About: Australian company specializing in laser systems for ophthalmology.
Products: Retinal, glaucoma, and refractive surgery lasers.
Market Cap: Private company.
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.
About: German manufacturer of excimer and femtosecond lasers.
Products: Refractive surgery lasers and diagnostics.
Market Cap: Private company.
About: U.S. company specializing in implantable contact lenses.
Products: EVO Visian ICL and related refractive products.
Market Cap: Approx. USD 2 billion.
About: German company producing high-precision ophthalmic devices.
Products: Diagnostic instruments and visual field analyzers.
Market Cap: Private company.
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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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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