What is the global market size of Single Use Ophthalmic Surgical Devices Market?

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 Size, Share, Growth Analysis, By Application(Cataract Surgery, Glaucoma Surgery), By End-User(Ophthalmic Clinics, Ambulatory Surgery Centres) - Industry Forecast 2024-2031

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

Global Single Use Ophthalmic Surgical Devices Market News

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 Market Report Snapshots

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Global Single Use Ophthalmic Surgical Devices Market size was valued at USD 43.68 billion in 2019 and is poised to grow from USD 45.9 billion in 2023 to USD 65.1 billion by 2031, growing at a CAGR of 5.1% in the forecast period (2024-2031).

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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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 2024-2031

Global Single Use Ophthalmic Surgical Devices Market News

Global Single Use Ophthalmic Surgical Devices Market Report Snapshots

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