Global Single Use Ophthalmic Surgical Devices Market

Global Single Use Ophthalmic Surgical Devices Market Size, Share, Growth Analysis, By Application(Cataract Surgery, Glaucoma Surgery), By End-User(Ophthalmic Clinics, Ambulatory Surgery Centres) - Industry Forecast 2023-2030


Report ID: SQSG35A2062 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 66 | Figures: 75

Global Single Use Ophthalmic Surgical Devices Market Insights

Global Single Use Ophthalmic Surgical Devices Market size was valued at USD 43.68 billion in 2021 and is poised to grow from USD 45.9 billion in 2022 to USD 65.1 billion by 2030, growing at a CAGR of 5.1% in the forecast period (2023-2030).

Rise in types of ophthalmic complications such as cataract, myopia, retinopathy, and diabetic are expected to drive the growth of the single use ophthalmic surgical devices market over the forecast period. In addition, rapid growth in the development and innovations in the ophthalmic devices for the diagnosis of these diseases across the globe is also expected to boost the demand for the single use ophthalmic surgical devices in the coming years.

Furthermore, ophthalmic devices have gained substantial importance due to the extensive growth of various ophthalmic diseases such as glaucoma, cataracts, and other vision related problems around the world. According to the World Health Organization report, March 2022, trachoma is a type of public health issue in 44 countries across the world and is responsible for blindness or visual impairment of more than 1.9 billion people globally. It is also noted that in 2020, 42,045 people got surgical treatment for the advanced stage of the disease. Thereby, high burden of such diseases across the globe is creating lucrative opportunities for the market during the forecast period.

Moreover, high technological advancement in the sector of ophthalmology has led to increased adoption rate of these surgical devices globally. Due to this advancement, single use ophthalmic devices offer higher safety and are available in a wide range of shapes and sizes, which enables ophthalmologist to better accuracy in surgical procedures. These devices for eye surgeries reduces the chances for post operation complications. For instance, in May 2020, Icare USA released the Icare ic200 handheld tanometer for the measurement of intraocular pressure on the go. This device has many advanced features such as no air puffs, anesthetic drops, and special abilities required to assess IOP with this device.

US Single Use Ophthalmic Surgical Devices Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global Single Use Ophthalmic Surgical Devices Market Segmental Analysis

Global single use ophthalmic surgical devices market is segmented on the basis of application, end-user, and region. By application, the market is segmented into cataract surgery, glaucoma surgery, diabetic retinopathy, corneal surgery, refractive surgery, and others. By end-user, the Single Use Ophthalmic Surgical Devices Market is categorized into hospitals, ophthalmic clinics, ambulatory surgery centres, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.

Single Use Ophthalmic Surgical Devices Market Analysis by Application

By application, cataract surgery segment held the largest market share with a significant CAGR in 2021 and is expected to maintain its dominance throughout the forecast period. Increasing geriatric population and rising number of cataract surgeries across the world are factors expected to drive the segment growth during the forecast period. For instance, according to the World Health Organization report 2021, about 2.2 billion individuals worldwide have been suffering from vision impairment in 2021. In which, the majority of people who have vision impairment and blindness issues are over 50 years old.

Moreover, the refractive segment is expected to grow at the fastest CAGR during the forecast period. Rise in the myopia cases across the globe is the major factor driving the segment growth over the forecast period. Introduction to advanced IOLs and implemented contact lenses to manage and correct them is also expected to contribute to the growth of the segment.

Single Use Ophthalmic Surgical Devices Market Analysis by End User

By end-user, the hospitals segment dominated the market with a significant share in 2021. The increasing procedures volume of ophthalmic surgical procedures, improved healthcare facilities, and favorable reimbursement policies in developed countries are the major factors driving the segment growth. In addition, increased number of cataract and glaucoma surgeries in hospitals is another major factor anticipated to drive the growth in the coming years. Moreover, increased healthcare expenditures in the developed and even in developing nations for the enhancement of diagnosis facilities is likely to have a positive impact on the market in the near future. For instance, health spending in the U.S. has increased to USD 4.1 trillion with an increase of 4.3% from the last year. Similarly, health expenditure was 19.7% of GDP in 2020 compared with 17.6% of GDP in 2019.

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Global Single Use Ophthalmic Surgical Devices Market Regional Insights

North America dominated the global single use ophthalmic surgical devices market holding more than 35% share in 2021, and is set to continue this over the forecast period. Increasing consumer awareness, technological advancement, and presence of strong and large market players are the key factors driving the market growth in the region. For instance, in the U.S., more than 24 million people are suffering from cataract and around 7 million people have been diagnosed with diabetic retinopathy. In addition, favourable reimbursement policies from the several government bodies in the region for various surgical procedures are also expected to contribute towards the region growth.

Furthermore, Asia Pacific is projected to register the fastest growth with a health market share during the forecast period owing to the rise in adoption of advanced technologies, increased population burden, and government initiatives. Additionally, emerging countries such as India and China provide financial support to healthcare institutions for the development and improvement in healthcare facilities. This has led to the growth in the research & development in the field of ophthalmology. All these factors are likely to drive growth of the global single use ophthalmic surgical devices over the forecast period.

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Global Single Use Ophthalmic Surgical Devices Market Dynamics

Single Use Ophthalmic Surgical Devices Market Drivers

  • Increasing prevalence of cataract and rising number of geriatric-population across the globe are the major factors driving growth of the single use ophthalmic surgical devices market, For instance, according to a report of World Health Organization (WHO), around 20 million people across the world suffer from cataract. High growth in these ocular disorders is creating significant opportunities in the ophthalmic surgeries sector.
  • Increasing innovations in glaucoma and cataract surgery to positively impact the demand for ophthalmic surgical devices is another key factor expected to drive the market growth in the coming years. Major players competing in the industry are continuously trying to introduce innovative single use surgical products. For instance, In April 2021, Bausch + Lomb, a subsidiary of Bausch Health Companies Inc., announced that they have received approval from U.S. Food and Drug Administration for their product ClearVisc dispersive ophthalmic viscosurgical device for the patients who have ophthalmic surgery.

Single Use Ophthalmic Surgical Devices Market Restraint

  • High prices of devices and surgeries might hamper market growth. Since, ophthalmic surgery are premium priced, it can restrain growth of the market during the forecast period.
  • Moreover, limited availability of products and low production rate are also expected to restrain growth of the market in medium and low-sized economies in the coming years.

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Global Single Use Ophthalmic Surgical Devices Market Competitive Landscape

Global single use ophthalmic surgical devices market is moderately competitive with the presence of many well-known market players across the globe such as Alcon Inc., Bausch Health Companies, Johnson & Johnson. In which Alcon Inc., holds the highest market share owing to their wide range of offerings for the diagnosis of cataract, glaucoma, refractive errors, and others. Moreover, acquisition, product launches, mergers, and partnerships are the few major strategies opting by major key players.

Top Players in the Global Single Use Ophthalmic Surgical Devices Market

  • Alcon Inc.
  • Bausch & Lomb Inc.
  • Johnson & Johnson Vision Care Inc.
  • Carl Zeiss Meditec AG
  • Topcon Corporation
  • Haag-Streit Holding AG
  • Essilor International S.A.
  • Hoya Corporation
  • Nidek Co. Ltd.
  • Ziemer Ophthalmic Systems AG
  • Allergan Plc
  • STAAR Surgical Company
  • Beaver-Visitec International
  • Oertli Instrumente AG
  • MicroSurgical Technology
  • Rhein Medical Inc.
  • Duckworth & Kent Ltd.
  • Moria SA
  • Medicel AG
  • BVI Medical Inc

Single Use Ophthalmic Surgical Devices Market Recent Developments

  • In August 2022, Glaukos Corporation announced that it received approval from U.S. Food and Drug Administration for the iStent infinite. It is type of trabecular micro-bypass system indicated for the use in a standalone procedure for reducing elevated intraocular pressure in patients.
  • In July 2022, Abbvie and iSTAR Medical SA entered into a partnership for the development and to further commercialize iSTAR Medical’s MINject device. A minimally invasive glaucoma surgical (MIGS) device for the patients having glaucoma.

Global Single Use Ophthalmic Surgical Devices Key Market Trends

  • Vision correction devices and corrective lenses for the improvement of vision for those with common refractive errors like myopia, hypermetropia, presbyopia, and astigmatism. These type of visual impairments results in low vision and blindness. The prevalence of this issues worldwide is expected to grow in the near future due to the increased screen timing, rising geriatric population, and other types of chronic problems leading to vision loss. Hence, the growing number of eye disorder cases is likely to create high demand for advanced devices, which is expected to boost the market growth throughout the forecast period.

Global Single Use Ophthalmic Surgical Devices Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, global single use ophthalmic surgical devices market is witnessing a healthy growth during the forecast period. Rapid increase in health concerns, increased per capita income, high technological advancements, and adoption of surgical devices are the factors expected to boost the market growth over the forecast period. Furthermore, government bodies of developing countries are creating a paved path for the market players by providing funds for the development and innovation of latest technology in their region is also projected to positively impact the global market. However, a major part of the world’s population is price sensitive, therefore high price for the single use ophthalmic surgical devices is out of their reach and affordability. Which can result in a negative impact on the global demand and growth in the near future.

Report Metric Details
Market size value in 2021 USD 43.68 billion
Market size value in 2030 USD 65.1 billion
Growth Rate 5.1%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Cataract Surgery, Glaucoma Surgery, Diabetic Retinopathy, Corneal Surgery, Refractive Surgery, others
  • End-User
    • Ophthalmic Clinics, Ambulatory Surgery Centres, others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Alcon Inc.
  • Bausch & Lomb Inc.
  • Johnson & Johnson Vision Care Inc.
  • Carl Zeiss Meditec AG
  • Topcon Corporation
  • Haag-Streit Holding AG
  • Essilor International S.A.
  • Hoya Corporation
  • Nidek Co. Ltd.
  • Ziemer Ophthalmic Systems AG
  • Allergan Plc
  • STAAR Surgical Company
  • Beaver-Visitec International
  • Oertli Instrumente AG
  • MicroSurgical Technology
  • Rhein Medical Inc.
  • Duckworth & Kent Ltd.
  • Moria SA
  • Medicel AG
  • BVI Medical Inc
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Single Use Ophthalmic Surgical Devices Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Single Use Ophthalmic Surgical Devices Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Single Use Ophthalmic Surgical Devices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Single Use Ophthalmic Surgical Devices Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Single Use Ophthalmic Surgical Devices Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Single Use Ophthalmic Surgical Devices Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Global Single Use Ophthalmic Surgical Devices Market size was valued at USD 43.68 billion in 2021 and is poised to grow from USD 45.9 billion in 2022 to USD 65.1 billion by 2030, growing at a CAGR of 5.1% in the forecast period (2023-2030).

Global single use ophthalmic surgical devices market is moderately competitive with the presence of many well-known market players across the globe such as Alcon Inc., Bausch Health Companies, Johnson & Johnson. In which Alcon Inc., holds the highest market share owing to their wide range of offerings for the diagnosis of cataract, glaucoma, refractive errors, and others. Moreover, acquisition, product launches, mergers, and partnerships are the few major strategies opting by major key players. 'Alcon Inc.', 'Bausch & Lomb Inc.', 'Johnson & Johnson Vision Care Inc.', 'Carl Zeiss Meditec AG', 'Topcon Corporation', 'Haag-Streit Holding AG', 'Essilor International S.A.', 'Hoya Corporation', 'Nidek Co. Ltd.', 'Ziemer Ophthalmic Systems AG', 'Allergan Plc', 'STAAR Surgical Company', 'Beaver-Visitec International', 'Oertli Instrumente AG', 'MicroSurgical Technology', 'Rhein Medical Inc.', 'Duckworth & Kent Ltd.', 'Moria SA', 'Medicel AG', 'BVI Medical Inc'

Increasing prevalence of cataract and rising number of geriatric-population across the globe are the major factors driving growth of the single use ophthalmic surgical devices market, For instance, according to a report of World Health Organization (WHO), around 20 million people across the world suffer from cataract. High growth in these ocular disorders is creating significant opportunities in the ophthalmic surgeries sector.

Vision correction devices and corrective lenses for the improvement of vision for those with common refractive errors like myopia, hypermetropia, presbyopia, and astigmatism. These type of visual impairments results in low vision and blindness. The prevalence of this issues worldwide is expected to grow in the near future due to the increased screen timing, rising geriatric population, and other types of chronic problems leading to vision loss. Hence, the growing number of eye disorder cases is likely to create high demand for advanced devices, which is expected to boost the market growth throughout the forecast period.

North America dominated the global single use ophthalmic surgical devices market holding more than 35% share in 2021, and is set to continue this over the forecast period. Increasing consumer awareness, technological advancement, and presence of strong and large market players are the key factors driving the market growth in the region. For instance, in the U.S., more than 24 million people are suffering from cataract and around 7 million people have been diagnosed with diabetic retinopathy. In addition, favourable reimbursement policies from the several government bodies in the region for various surgical procedures are also expected to contribute towards the region growth.

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