As reported by Meticulous Research®, the global ophthalmic equipment market is on track to achieve a value of $61.58 billion by 2030, with a 4.4% CAGR anticipated throughout the forecast period. The surge in this market is attributed to the rising prevalence of eye disorders, including conditions like cataracts and glaucoma. Additional contributing factors include the increasing geriatric population and the growing incidence of digital eye strain due to prolonged device usage.
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Segmentation by Product Type
The ophthalmic equipment market is divided into several Product Types, namely Vision Care Products, Surgical Devices, and Diagnostic & Monitoring Devices. The Vision Care segment is projected to dominate the market, with a notable uptick in demand for specialty lenses and multifocal lenses. This growth is supported by the enhanced comfort and health benefits associated with modern lens technologies, particularly in rapidly developing regions like India and China.
Consumer Segment Dominance
In the end user category, the consumer segment is expected to account for a significant share of the ophthalmic equipment market by 2024. The driving forces behind this trend include the increasing aging population and their corresponding needs for quality eye care. Furthermore, rising purchasing power and the prevalence of myopia and digital eye strain are expected to bolster this segment's growth, as consumers seek effective vision correction solutions.
Regional Insights
The report analyzes major geographic markets, focusing on North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is anticipated to capture the largest market share in 2024, primarily due to the high rates of eye disease prevalence and the concentration of major market players in the region. The U.S. is poised to lead this market segment, driven by robust awareness and accessibility of vision care services.
Key Market Players
The report includes a competitive landscape based on an extensive assessment of the key strategic developments that led market participants to adopt over the past three years. The key players profiled in the global ophthalmic equipment market report are Bausch Health Companies Inc. (copyright), Carl Zeiss Meditec AG (Germany), EssilorLuxottica (France), Alcon Inc. (U.S.), The Cooper Companies, Inc. (U.S.), Johnson & Johnson Vision Care, Inc. (U.S.), HEINE Optotechnik GmbH & Co. KG (Germany), Glaukos Corporation (U.S.), Ziemer Ophthalmic Systems AG (Switzerland), and Nidek Co., Ltd. (Japan).
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