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Ophthalmology Devices Market to Promote USD 12.39 Billion by 2034

Ophthalmology Devices Market Growth 2025 to 2034 Driven by Cataract Surgeries, AI & Teleophthalmology

Market insights predict the global ophthalmology devices industry will increase from USD 7.51 billion in 2024 to USD 12.39 billion by 2034, achieving a CAGR of 5.14%. The global ophthalmology devices market is growing due to rising technological advancements. North America dominated the market due to the rising focus on elderly care.

Category: Medical Devices Insight Code: 5935 Format: PDF / PPT / Excel

Ophthalmology Devices Market Size, Forecast and Key Players with Growth

The global ophthalmology devices market size is calculated at US$ 7.51 in 2024, grew to US$ 7.89 billion in 2025, and is projected to reach around US$ 12.39 billion by 2034. The market is expanding at a CAGR of 5.14% between 2025 and 2034.

Ophthalmology Devices Market Size 2024 to 2034

The ophthalmology devices market's expansion may be ascribed to the increasing incidence of visual conditions such as diabetic retinopathy, cataracts, glaucoma, and vitreoretinal diseases. The market base for development is anticipated to be further expanded by improved government measures to raise awareness of visual impairment. To help nations reach the global eye care target of a 40% increase in availability of suitable glasses for individuals, the WHO launched the SPECS 2030 programme in May 2024. The need for ophthalmic equipment is rising as the senior population grows, since they are increasingly vulnerable to age-related eye conditions. The National Institute of Aging (NIA) estimates that by 2030, there will be about 72 million people in the elderly population.

Key Takeaways

  • Ophthalmology devices industry poised to reach USD 7.51 billion in 2024.
  • Forecasted to grow to USD 12.39 billion by 2034.
  • Expected to maintain a CAGR of 5.14% from 2025 to 2034.
  • North America dominated the global ophthalmology devices market in 2024, with a revenue of approximately 34%.
  • Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
  • By product type, the vision care products segment captured a revenue of approximately 45% in 2024.
  • By product type, the diagnostics and monitoring devices segment is expected to grow at the fastest CAGR during the forecast period.
  • By application, the cataract surgery segment was dominant in the market in 2024, with a revenue of approximately 33%.
  • By application, the refractive error correction segment is expected to grow at the fastest CAGR during the forecast period.
  • By end-user, the hospitals segment held a revenue of approximately 39% of the market in 2024.
  • By end-user, the ambulatory surgical centers (ASCs) segment is expected to grow at the fastest CAGR during the forecast period.

Key Metrics and Overview

Metric Details
Market Size in 2025 USD 7.89 Billion
Projected Market Size in 2034 USD 12.39 Billion
CAGR (2025 - 2034) 5.14%
Leading Region North America Share by 34%
Market Segmentation By Product Type, By Application, By End Use, By Region
Top Key Players Alcon Inc., Johnson & Johnson Vision, Bausch + Lomb, Carl Zeiss Meditec AG, Hoya Corporation, EssilorLuxottica, CooperVision, Inc., Topcon Corporation, NIDEK Co., Ltd., Canon Medical Systems, Ziemer Ophthalmic Systems, Lumenis, Haag-Streit Group, Glaukos Corporation, Ellex Medical Lasers Ltd., IRIDEX Corporation, SCHWIND eye-tech-solutions, STAAR Surgical, OCULUS Optikgeräte GmbH, Quantel Medical (Lumibird Group)

Market Overview

The ophthalmology devices market encompasses a broad range of medical devices used in the diagnosis, monitoring, and treatment of eye disorders such as cataracts, glaucoma, refractive errors, age-related macular degeneration (AMD), and diabetic retinopathy. These devices include surgical equipment, diagnostic instruments, vision care products, and laser-based systems. The market serves ophthalmologists, optometrists, and surgical centers. It is closely linked to aging populations, rising incidences of diabetes and eye disorders, and technological advancements such as AI diagnostics and minimally invasive surgery. 

  • In June 2025, the $125 million Series B financing headed by Eclipse was completed, according to ForSight Robotics. As the company prepares to initiate first-in-human clinical trials this year, the investment accelerates the next stage of growth for the ORYOM Platform, the first robotic surgery platform for cataract and other eye diseases in the world. Its goals are to improve surgical precision, increase patient access to high-quality treatment, and lessen the physical strain on surgeons. (Source - Surgical Robotics Technology)
  • In February 2025, the European Investment Bank (EIB) agreed to provide €20 million in venture loan financing to Norlase, a medical technology business that is a spin-out of the Technical University of Denmark (DTU). The investment will help Norlase's cutting-edge ophthalmic laser technology grow, solidifying Denmark's standing as a centre for top-tier medical technology innovation. (Source - Norlase)

How is AI Transforming the Ophthalmology Devices Market?

Artificial intelligence (AI) is revolutionising ophthalmology by providing new chances to improve service delivery, customise treatment regimens, and increase diagnostic accuracy. AI-powered instruments are improving the accuracy of medical operations such as cataract surgery, which leads to shorter recovery periods and fewer problems. Global inequities in healthcare availability are also being addressed by AI-powered teleophthalmology services, which are increasing access to eye care in rural and disadvantaged locations.

For instance,

  • In June 2024, C3 Med-Tech, which develops and produces ophthalmic screening devices, announced that it had obtained an undisclosed sum from Industrial Metal Powders to introduce new telemedicine and AI-enabled portable equipment for quick and easy eye exams and real-time disease detection. (Source - Express Healthcare)

Market Dynamics

Driver

How do Rising Cases of Eye Disorders Promote the Market’s Expansion?

The expansion of the ophthalmology devices market is associated with eye disorders, as increased cases lead more people to opt for ophthalmology devices or surgeries that utilize these devices. 1.1 billion individuals worldwide suffer from visual loss, and 90% of cases are preventable. It will reach 1.8 billion by 2050 if eye health care is not funded. More than 3.4 million hospital outpatient visits and 8.9 million vision outpatient appointments were made in 2023, indicating that eye problems remain a common concern in both primary and secondary care settings. According to a 2024 survey, 31% of people with eye disorders would seek other healthcare facilities, such as pharmacies, 37% would speak with their high street optician, and 32% would initially contact their general practitioner.

Restraint

High Cost of Equipment and Surgeries

The high expense and risk of eye procedures severely hamper ophthalmic treatment development and accessibility. Retinal, refractive, and advanced cataract operations are among the most costly procedures because they need specialised tools, highly qualified surgical teams, and post-operative care. Because high-end intraocular lenses and advanced technology are more expensive, people from poorer socioeconomic backgrounds find them more difficult to afford and less accessible.

Opportunity

How will Telehealth Improve the Ophthalmology Devices Market?

Since digitally transmissible pictures and videos may be used for diagnosis and illness management, ophthalmology continues to be a prime specialty for telehealth integration. Over the past century, teleophthalmology has advanced quickly, and with the help of new technologies like artificial intelligence and 5G and 6G internet, it will only become better. In addition to improving time and convenience for patients and doctors, teleophthalmology has made it easier for doctors to collaborate, allowing general eye care professionals to consult with distant experts on other continents. Telehealth in ophthalmology offers a great potential to provide access to eye exams and treatments and broaden the geographic reach of eye care worldwide due to its proven clinical effectiveness, patient satisfaction, and continuous improvements.

Segmental Insights

Why was the Vision Care Products Segment Dominant in the Market in 2024?

By product type, the vision care products segment dominated the ophthalmology devices market in 2024. In the fast-paced world of today, eye care is more important than ever. There is a growing need for high-quality eye care solutions as eyesight needs rise. Enterprises such as Johnson & Johnson Vision, Hanuchem Laboratories, and Alcon Inc. are essential to the pursuit of improved eye care. Their commitment to sustainability, innovation, and quality puts them at the forefront of influencing how eye care will develop in the future. Third-party manufacturing's expansion is a viable way for companies to effectively introduce premium eye care goods to the market. The outlook for eye care appears more promising than ever as consumer needs and technological advancements continue to grow.

Among the vision care products segment, the contact lenses sub-segment dominated the ophthalmology devices market in 2024. The optical sector has undergone a transformation thanks to contact lenses.  Nowadays, a lot of patients choose contact lenses over glasses for aesthetic and cosmetic reasons.  Due to freedom from glasses, cosmesis, and occupational demands, young patients choose contact lenses.

By product type, the diagnostics and monitoring devices segment is estimated to witness the fastest growth in the ophthalmology devices market during the forecast period. Diagnostic services include glaucoma screening and monitoring, as well as assistance with corneal, retinal, and cataract disorders. To identify conditions like macular degeneration, glaucoma, or retinal tears, top clinics frequently employ cutting-edge technology like Fundus Fluorescein Angiography (FFA), Optical Coherence Tomography (OCT), and Visual Field Tests. The eye expert can see the inside anatomy of the eye more clearly because of the high-definition images and mapping provided by this equipment.

What made the Cataract Surgery Segment Dominant in the Market in 2024?

By application, the cataract surgery segment held the largest share of the ophthalmology devices market in 2024. The global frequency of cataract is expanding as life expectancy continues to climb, particularly in wealthy nations. Cataract is the most common cause of distant vision impairment or blindness, impacting 94 million people out of the 1 billion who have visual impairment that might have been avoided or has not yet been treated. Microincision phacoemulsification is now the recommended technique for cataract surgery, one of the most common operations performed globally, because of its high success rates, shortened recovery periods, and lower complication rates.

By application, the refractive error correction segment is anticipated to be the fastest-growing in the ophthalmology devices market during the upcoming period. Uncorrected refractive error (URE) is responsible for moderate to severe visual problems in around 116 million cases. The projected cost of URE to the world economy is $269 billion.  It is concerning to note that myopia is expected to affect almost half of the world's population, with prevalence rates in Asian nations ranging from 84% to 97%.

Why the Hospitals Segment Dominated the Market in 2024?

By end-user, the hospitals segment dominated the ophthalmology devices market in 2024. People with vision issues, eyesight issues, or any other eye-related condition should seek out hospitals with the top ophthalmology departments. The hospital's ophthalmology department is primarily focused on giving patients with eye health issues, including visual issues and procedures, the finest medical care possible. Ophthalmologists use cutting-edge diagnostic tools in hospitals to provide thorough evaluations of eye health.

By end-user, the ambulatory surgical centers (ASCs) segment is estimated to grow at the highest CAGR in the ophthalmology devices market during 2025-2034. Increased surgeon productivity, better patient and surgeon convenience, lower out-of-pocket patient expenditures, and lower insurer per-case costs are some of the factors contributing to ASCs' growing popularity. To reduce escalating surgical care costs, several insurers have suggested rewarding patients to have surgery at ASCs rather than HOPDs.

Regional Insights

Ophthalmology Devices Market Share, By Region, 2024 (%)

What made North America Dominant in the Market in 2024?

North America dominated the ophthalmology devices market share by 34% in 2024, due to increased product approvals, the use of new technology, and rising healthcare costs associated with eye illnesses. The U.S. and Canada contribute significantly to the region's market revenue. Main growth drivers include an ageing population, the large amount of ophthalmology procedures performed, and the incidence of eye problems such as cataracts, glaucoma, diabetic retinopathy, AMD, and refractive illnesses.

The U.S. Ophthalmology Devices Market Trends

In the U.S., the most common eye condition is refractive error. The primary cause of blindness among working-age adults in the U.S. is diabetic retinopathy. Approximately 1.8 million Americans over 40 suffer from AMD. Another 7.3 million people who have big drusen are at a high risk of AMD. For those 65 and older, AMD is the primary cause of long-term impairment in reading and fine or close-up vision. 6.1 million (5.1%) Americans aged 40 and over have undergone surgery to remove their lens, while an estimated 20.5 million (17.2%) have cataracts in one or both eyes. 150 million Americans might see better with adequate refractive correction, according to the National Eye Institute.

The Canada Ophthalmology Devices Market Trends

The main issues facing Canadians include excessive screen usage, excessive exposure to UV and solar radiation, and environmental variables, including pollution and smoke from wildfires. Within the last two years, 71% of Canadians have had at least one eye or vision-related ailment. Dr. Phil Hooper, president of the Canadian Ophthalmological Society, says that as more Canadians learn about the four main eye conditions, more education is required to promote preventative care.

What will promote the Growth of the Market in Asia Pacific during 2025-2034?

Asia Pacific is estimated to host the fastest-growing ophthalmology devices market during the forecast period. Because over 400 million people suffer from preventable visual impairment, and because government-led programmes are aimed at reducing the backlog of cataract surgeries. With 7 million cataract procedures performed yearly by India's National Programme for Control of Blindness, which depends on affordable phacoemulsification equipment and intraocular lenses, the two countries account for the majority of demand. 60% of screenings in rural regions take place in community health camps, although portable diagnostic tools like handheld OCT machines are becoming more popular there. While paediatric myopia epidemics in East Asia increase demand for orthokeratology lenses, the region's diabetes population, which exceeds 220 million, drives the use of non-mydriatic retinal cameras for retinopathy monitoring.

The China Ophthalmology Devices Market Trends

A projected research on the burden of vision estimates that by 2030, there would be 180 million visually impaired children and adolescents in China alone, up from the current 6.4 million. Myopia is most common in China, where an estimated 300 million individuals suffer from the condition, the majority of whom are youngsters.

The India Ophthalmology Devices Market Trends

One of the biggest public health issues in India is blindness and visual impairment. In India, there are an estimated 0.24 million blind children, 35 million visually impaired persons (2.55%), and 4.95 million blind adults (0.36% of the total population). In India, cataracts and refractive errors continue to be the leading causes of blindness and visual impairment, respectively.

Europe is expected to grow significantly in the ophthalmology devices market during the forecast period, because of an established healthcare system, an ageing population, and an increasing need for cutting-edge eye care products. Strong research and development (R&D) efforts and advantageous reimbursement regulations are two ways that nations like Germany, the UK, and France greatly contribute to market expansion. Additionally, the region's top producers of ophthalmic devices encourage innovation and market growth.

The Germany Ophthalmology Devices Market Trends

In Germany, an estimated 15–20 million individuals suffer from eye conditions. Refractive error is the most prevalent condition among Germans. An incorrect refraction of light in the eye through the cornea or lens is the source of this problem. In Germany, 63.5% of people 16 years of age and older use glasses.

The UK Ophthalmology Devices Market Trends

Over 2 million individuals in the UK are blind or visually impaired. Approximately 340,000 of them are listed as blind or partially sighted. The leading charity in the UK helping those who have lost their vision is the RNIB. The RNIB website provides helpful information, including how to accept vision loss.

Top Companies in the Ophthalmology Devices Market

Ophthalmology Devices Market Companies

  • Alcon Inc.
  • Johnson & Johnson Vision
  • Bausch + Lomb
  • Carl Zeiss Meditec AG
  • Hoya Corporation
  • EssilorLuxottica
  • CooperVision, Inc.
  • Topcon Corporation
  • NIDEK Co., Ltd.
  • Canon Medical Systems
  • Ziemer Ophthalmic Systems
  • Lumenis
  • Haag-Streit Group
  • Glaukos Corporation
  • Ellex Medical Lasers Ltd.
  • IRIDEX Corporation
  • SCHWIND eye-tech-solutions
  • STAAR Surgical
  • OCULUS Optikgeräte GmbH
  • Quantel Medical (Lumibird Group)

Latest Announcements by Industry Leaders

In June 2025, TECNIS Odyssey IOL is the fastest-growing PC-IOL in the U.S., and we are thrilled to be making it available to more patients worldwide, said Peter Menziuso, corporate group chairman of Vision at Johnson & Johnson, in a company press release. It fills a big gap in the market for cataract sufferers who want more freedom with their eyewear. Now, in conjunction with TECNIS PureSee, TECNIS Odyssey IOL strengthens and expands our worldwide IOL range to better serve the various demands of the ageing population of today. (Source - Ophthalmology Times)

Recent Developments in the Ophthalmology Devices Market

  • In March 2025, BVI Medical, an ophthalmology specialist, raised $1 billion in funding to position itself to take on the might of established providers of eye surgical devices like Johnson & Johnson (J&J) and Alcon. The strategic raising was carried out by US-based BVI in collaboration with TPG, a private equity firm that manages $246 billion in assets. (Source - Medical Device)
  • In February 2025, as the first and only DSLT device, Alcon announced that the Voyager direct selective laser trabeculoplasty (DSLT) device is now fully available for purchase in the United States. Without the need for a gonio lens or human targeting, the automated equipment offers a simplified procedure for delivering 120 laser pulses. (Source - Ophthalmology Times)

Segments Covered in the Report

By Product Type

  • Diagnostic and Monitoring Devices
    • Optical Coherence Tomography (OCT) Scanners
    • Fundus Cameras
    • Visual Field Analyzers
    • Autorefractors & Keratometers
    • Ophthalmoscopes
    • Retinoscopes
    • Tonometers
    • Slit Lamps
    • Others
  • Surgical Devices
    • Cataract Surgery Devices
      • Phacoemulsification Systems
      • Intraocular Lenses (IOLs)
      • Ophthalmic Viscoelastic Devices (OVDs)
      • Capsulorhexis Forceps
    • Glaucoma Surgery Devices
    • Vitreoretinal Surgery Devices
    • Refractive Surgery Devices
      • LASIK Equipment
      • Femtosecond Lasers
    • Others
  • Vision Care Products
    • Contact Lenses
    • Contact Lens Cleaning and Disinfection Solutions
    • Spectacles and Optical Lenses
    • Others

By Application

  • Cataract Surgery
  • Glaucoma Treatment
  • Refractive Error Correction
  • Retinal Disorders (e.g., AMD, Diabetic Retinopathy)
  • Diagnostic Use
  • Others

By End Use

  • Hospitals
  • Ophthalmic Clinics
  • Ambulatory Surgical Centers (ASCs)
  • Academic & Research Institutes
  • Optical Retail Stores
  • Others

By Region 

  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait
  • Last Updated: 01 August 2025
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

Meet the Team

Deepa Pandey is a focused and detail-oriented market research professional with growing expertise in the healthcare sector, delivering high-quality insights across therapeutic areas, diagnostics, biotechnology and healthcare services.

Learn more about Deepa Pandey

Aditi Shivarkar, with over 14 years of experience in consumer goods, leads research at Towards Consumer Goods, ensuring precise, actionable insights on trends, consumer preferences, and sustainable packaging for businesses.

Learn more about Aditi Shivarkar

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FAQ's

The ophthalmology devices market is projected to reach USD 12.39 billion by 2034, growing at a CAGR of 5.14% from 2024 to 2034.

North America is currently leading the ophthalmology devices market due to the rising geriatric population that requires eye-related treatments due to age-related issues.

The ophthalmology devices market includes four segments such as by product type, by application, by end-user, and by region.

Key trends include rising eye-related issues due to increasing screen time and age-related eye damage.

Ministry of Health and Family Welfare, Government of India, National Institutes of Health, FDA, WHO, PIB, CDC.