Ophthalmic Surgical Market

Ophthalmic Surgical Market Outlook from 2024 to 2034

The global Ophthalmic Surgical Market is expected to grow at a CAGR of 5.7% from 2024 to 2034. The market value is projected to increase from USD 13,937.8 million in 2024 to USD 24,194.2 million by 2034.

Attributes	Key Insights
Base Value, 2023	USD 13,159.7 million
Estimated Global Ophthalmic Surgical Market Size (2024E)	USD 13,937.8 million
Projected Ophthalmic Surgical Market Value (2034F)	USD 24,194.2 million
Value-based CAGR (2024 to 2034)	5.7%

The increasing frequency of retinal detachment, corneal transplants, and LASIK-laser refraction supports the ophthalmic surgical market expansion. Treating several ophthalmic conditions such as cataracts, glaucoma, diabetic retinopathy, macular degeneration, and vitrectomy requires surgery, which is expected to promote the market’s growth.

Advancements in ocular technology, such as high-definition scans and three-dimensional imaging, enable precise operations. This discovery and innovation are expected to enhance patient outcomes and create excellent market expansion opportunities. The growing pipeline of advanced ophthalmic surgeries is projected to surge the demand for ophthalmic surgeries.

A key factor propelling the market expansion is the rising prevalence of eye illnesses worldwide. The ophthalmic surgical device market is expanding due to new product introductions and technical developments. Over the projected period, government measures to help visually impaired populations are also anticipated to boost market expansion.

2019 to 2023 Global Ophthalmic Surgical Market Growth Outlook Vs. 2024 to 2034

The global ophthalmic surgical market recorded a historic CAGR of 5.3% from 2019 to 2023.

• Phacoemulsification was introduced and quickly became popular, revolutionizing cataract surgery and resulting in shorter recovery periods, better results, and smaller incisions.
• Laser technology was an important development in ocular surgery, especially in refractive correction treatments like LASIK (Laser-Assisted in Situ Keratomileusis).
• With fewer dangers and a faster recovery than traditional procedures, new possibilities for treating glaucoma have emerged with the development of minimally invasive glaucoma surgery (MIGS) methods.
• With the creation of more compact gauge equipment and enhanced imaging technology, vitrectomy operations for retinal diseases have benefited from technical developments.
• The introduction of anti-VEGF medications, among other pharmacological advancements, has revolutionized the treatment of diseases like age-related macular degeneration (AMD).

Opportunities in Ophthalmic Surgical Market

• The market for ophthalmic surgery is expected to rise due to the expanding scope and accessibility of insurance coverage. This trend is set to lower financial barriers and encourage individuals to seek preventative eye care, increasing patient base and driving innovation.
• Technological developments in ophthalmic surgery, like 3D imaging and high-resolution scans, provide accurate procedures that minimize risks. In addition to improving patient outcomes, this discovery opens up profitable doors for market growth and innovation.

Key Ophthalmic Surgical Market Trends

• The field of ophthalmic surgery has benefited from ongoing technological developments, such as the application of robots, artificial intelligence, and sophisticated imaging methods. These technologies aim to enhance patient recovery, surgical accuracy, and results.
• There is a rising tendency toward minimally invasive techniques in ocular surgery. With shorter recovery periods and fewer dangers than conventional methods, techniques such as minimally invasive glaucoma surgery (MIGS) and laser-assisted cataract surgery are gaining traction.
• Age-related macular degeneration (AMD), cataracts, and glaucoma are among the eye ailments that are becoming more commonplace worldwide. As more people seek treatment for these problems, the market for ophthalmic surgeries is surging.

Restraining Factors for the Ophthalmic Surgical Market

• Regulatory policies restrict the market for ophthalmic surgery because of their rigid approval procedures and varied international regulations. These elements are set to raise costs, limit growth, and hinder timely market entry.
• In certain areas, key barriers are expected to result from restricted access to healthcare treatments, such as eye procedures. This is because of poor infrastructure, a need for qualified ophthalmic surgeons, or physical obstacles that prevent patients from getting to hospitals.
• Advanced eye procedures require specific knowledge and experience. One constraint is the need for qualified ophthalmic surgeons or the time and money to train medical practitioners in these methods.

Country-wise Insights

The table below shows the estimated growth rates of the top five countries. The United States, Japan, and Germany are set to record high CAGRs of 8.3%, 8.1%, and 7.7%, respectively, through 2034.

Country	Value CAGR
United States	8.3%
Japan	8.1%
China	7.1%
Germany	7.7%
United Kingdom	7.3%

The United States to Remain at the Epicentre of Ophthalmic Surgical Market

The United States is expected to exhibit a CAGR of 8.3% throughout the forecast period. Top factors supporting the market expansion in the country include:

• Several insurance companies in the United States provide insurance claims for ophthalmic surgeries.
• Rising awareness among individuals regarding ophthalmic conditions and surgeries increases the consumption of ophthalmic surgical products.
• The market is influenced by patient preferences for surgical procedures that provide a shorter recovery and less dependence on visual assistance.

Booming Healthcare Sector to Boost Sales of Ophthalmic Surgical in Japan

Japan is expected to expand with a CAGR of 8.1% through 2034. This is attributable to a combination of factors, including:

• Japan's stable economy creates an ideal framework for healthcare investments.
• By encouraging research, development, and innovative surgical techniques, this stability is set to aid in expanding the ophthalmic surgical market.

China Be the Next-door Opportunity for the Ophthalmic Surgical Market

China is expected to grow at a CAGR of 7.1% during the forecast period. The key factors supporting the ophthalmic surgical market growth are:

• China's fast urbanization is resulting in longer screen time and more environmental exposure.
• The increased prevalence of eye conditions brought forth by these changes is increasing the need for ophthalmic surgical procedures.
• The increasing prevalence of age-related eye complications is pushing the need for ocular surgeries, including glaucoma treatment and cataract surgery.

Growing Aging Population in Germany to Spur Market Growth

Sales of ophthalmic surgery in Germany are estimated to record a CAGR of 7.7% through 2034. The primary factors bolstering the ophthalmic surgical market size are:

• The size of the ophthalmic surgery market in Germany is substantial and constantly expanding. The aging population, rising frequency of eye conditions, and improvements in surgical technology are influencing this trend.
• Rapid technical breakthroughs, such as using femtosecond lasers in cataract & refractive surgery and adopting sophisticated imaging systems for diagnostic & surgical planning, are characteristics of the ophthalmic surgical market.

Presence of Local and Foreign Firms in the United Kingdom to Propel Sales

The United Kingdom is predicted to register a compound annual growth rate of 7.3% during the forecast period.

• Changes in insurance coverage, reimbursement schemes, and healthcare regulations are expected to influence the adoption of ophthalmic surgical treatments in the United Kingdom.
• Leading players in the United Kingdom frequently participate in research & development to launch novel technology and obtain a competitive advantage.

Category-wise Insights

The section below shows the consumable segment dominating by product type. It is predicted to surge at a CAGR of 5.3% by 2034. Based on the distribution channel, the ophthalmic clinics segment is anticipated to generate a dominant share through 2024. It is set to rise at a 5.3% CAGR by 2034.

Segment	Value CAGR
Consumable (Product Type)	5.3%
Ophthalmic Clinics (Distribution Channel)	5.3%

Consumable to be the Most Sought-after Product Type in the Market

The market value of consumables in ophthalmic surgery is USD 6,225.6 million, representing a 50.0% market share in 2023.

• Due to their integral role in surgery, consumables such as silicon bands, disposable drapes, and eye pads hold a significant market share in ophthalmic surgery.
• The recurrent demand for single-use items that are used in several surgical procedures contributes to their high market prominence.

Adoption of Ophthalmic Surgical in Ophthalmic Clinics to Surge Through 2034

Ophthalmic clinics accounted for 54.2% of the share in terms of distribution channels in 2023 and are expected to surge at a CAGR of 5.3% over the forecast period.

• Ophthalmology clinics house specialized ocular surgeons with training in several surgical methods.
• Leading ophthalmology clinics invest in cutting-edge technology & surgical instruments to improve surgical accuracy and results. This includes applying advanced technology, such as femtosecond lasers and sophisticated imaging systems.
• Ophthalmic clinics have a role in patient education and consultation. Surgeons advise patients about procedures, possible dangers, and expected results when discussing treatment choices, including surgical treatments.

Competitive Landscape

Collaborations and acquisitions are common strategies companies employ in the ophthalmic surgical market to enhance their capabilities, expand their offerings, and stay competitive in the market's dynamic landscape.

Leading players in the ophthalmic surgical market collaborate and form partnerships more often to take advantage of complementary skills, encourage innovation, and expand their product lines.

For instance:

• In December 2023, Carl Zeiss Meditec AG acquired the Dutch Ophthalmic Research Center (D.O.R.C.).
• In July 2023, Vantage Surgical Solutions, a prominent supplier of mobilized surgical solutions, acquired the Kansas-based firm called Ophthalmic Surgical Solutions (OSS).
• In April 2022, Carl Zeiss Meditec acquired two surgical instrument makers, Kogent Surgical, LLC, and Katalyst Surgical, LLC.

Key Companies Profiled

• Johnson & Johnson
• Alcon Inc.
• Ziemer Ophthalmic Systems AG
• Bausch Health (Bausch & Lomb Incorporated)
• Carl-Zeiss-Stiftung (Carl Zeiss AG)
• Alcon Inc.
• Clareon
• Hydrus Microstent
• Centurion
• Constellation
• SmartCataract
• Abbott Medical Optics
• Hoya Corporation
• Johnson & Johnson
• Canon Inc.
• FCI Ophthalmic
• Appasammy Associates
• Corza Medical
• Topcon Corporation
• Coburn Technologies
• Lumenis
• Visionix
• Glaukos Corporation

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Key Market Trends
• 4. Value-Added Insights
• 5. Market Background
• 6. Global Market Demand (in Value or Size in USD million) Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 7.1. Implants
  • 7.2. Consumable
  • 7.3. Equipment
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 8.1. Cataract Surgery
  • 8.2. Glaucoma Surgery
  • 8.3. Refractive Surgery
  • 8.4. Vitreoretinal Surgery
  • 8.5. Diabetic Retinopathy Surgery
  • 8.6. Others
• 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
  • 9.1. Hospitals
  • 9.2. Ophthalmic Clinics
  • 9.3. Others
• 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 10.1. North America
  • 10.2. Latin America
  • 10.3. East Asia
  • 10.4. South Asia & Pacific
  • 10.5. Western Europe
  • 10.6. Eastern Europe
  • 10.7. Middle East & Africa
• 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 14. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 15. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 16. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034
• 18. Market Structure Analysis
• 19. Competition Analysis
  • 19.1. Johnson & Johnson
  • 19.2. Alcon Inc.
  • 19.3. Ziemer Ophthalmic Systems AG
  • 19.4. Bausch Health (Bausch & Lomb Incorporated)
  • 19.5. Carl-Zeiss-Stiftung (Carl Zeiss AG)
  • 19.6. Centurion
  • 19.7. Hoya Corporation
  • 19.8. Canon Inc.
  • 19.9. FCI Ophthalmic
  • 19.10. Appasammy Associates
  • 19.11. Corza Medical
  • 19.12. Topcon Corporation
  • 19.13. Coburn Technologies
  • 19.14. Lumenis
  • 19.15. Visionix
  • 19.16. Glaukos Corporation
  • 19.17. Cooper Medical Ltd
  • 19.18. EssilorLuxottica
  • 19.19. Nidek Co., Ltd
  • 19.20. Staar Surgical
  • 19.21. Quantel Medical
• 20. Assumptions and Acronyms Used
• 21. Research Methodology