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

Single Use Ophthalmic Surgical Devices Market size was valued at USD 43.68 billion in 2022 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).

Single Use Ophthalmic Surgical Devices Market Size

Single Use Ophthalmic Surgical Devices Market Insights

Global Single Use Ophthalmic Surgical Devices Market size was valued at USD 7.38 billion in 2023 and is poised to grow from USD 7.97 billion in 2024 to USD 14.75 billion by 2032, growing at a CAGR of 8.0% during the forecast period (2025-2032).

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 2019, 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.

FAQs

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. 'Bausch & Lomb Inc. (USA) ', 'Johnson & Johnson Vision Care Inc. (USA) ', 'Carl Zeiss Meditec AG (Germany) ', 'Topcon Corporation (Japan) ', 'Haag-Streit Holding AG (Switzerland) ', 'Essilor International S.A. (France) ', 'Hoya Corporation (Japan) ', 'Nidek Co. Ltd. (Japan) ', 'Ziemer Ophthalmic Systems AG (Switzerland) ', 'STAAR Surgical Company (USA) ', 'Beaver-Visitec International (USA) ', 'Moria SA (France) ', 'Oertli Instrumente AG (Switzerland) ', 'DTR Medical Ltd. (UK) ', 'Rumex International Co. (USA) '

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.