The ophthalmology devices market has been segmented on the basis of product, application, and end user.

By product, the market is categorized into vision care products, surgical devices, and diagnostics and monitoring devices. The vision care products segment held a significant ophthalmology devices market share in 2023 and is estimated to register the highest CAGR during the forecast period. The vision care devices segment is further bifurcated into contact lenses and spectacle lenses. The diagnostic and monitoring devices segment is further divided into optical coherence tomography scanners, ophthalmic ultrasound imaging systems, fundus cameras, perimeters/visual field analyzers, autorefractors and keratometers, tonometers, optical biometry systems, ophthalmoscopes, corneal topography systems, retinoscopes, and others. The surgical devices segment is fragmented into glaucoma surgical devices, cataract surgical devices, vitreoretinal surgical devices, refractive surgical devices, ophthalmic microscopes, and ophthalmic and surgical accessories.

The growth of the market for the vision care products segment is attributed to technological advancements in vision care products. The use of contact lenses and spectacle lenses is growing with the prevalence of eye diseases and burgeoning awareness among people regarding eye treatments, including surgeries. In 2021, the sales of soft contact lenses in Europe rose by ~14% to reach almost US$ 2.13 billion, according to a report by Euromcontact. Further, the annual survey of the European Contact Lens Industry revealed that the sales of all types of soft lenses reached the value of US$ 2.02 billion in 2021, recording a significant increase compared to 2020. The UK and Ireland accounted for US$ 372.45 million of these sales, with a year-on-year growth rate of 3.8%.

Based on application, the market is segmented into cataracts, glaucoma, refractor disorders, and other applications. The glaucoma segment held a significant ophthalmology devices market share in 2023 and is estimated to register the highest CAGR during 2023-2031. Glaucoma is the prevalent cause of irreversible blindness. According to the World Glaucoma Association, based on prevalence studies, 79.6 million people had glaucoma in 2020, and the number is likely to grow to 111.8 million individuals by 2040. Glaucoma can be diagnosed using intraocular pressure (IOP) measurement; corneal thickness (pachymetry) measurement; gonioscopy; computerized visual field measurement; optic nerve head, nerve fiber layer, and macular region analysis; anterior segment imaging methods; and other tests. Further, surgical procedures for glaucoma that can help lower the pressure in the eye include glaucoma implant surgery, trabeculectomy, and minimally invasive glaucoma surgery (MIGS). Diagnosis and surgeries require various ophthalmology devices.

The ophthalmology devices market, by therapeutic application, is categorized into oncology, infectious diseases, neurological disorders, autoimmune diseases, gynecological disorders, cardiovascular diseases, respiratory disorders, and others. The oncology segment held the largest market share in 2023. Further, the infectious diseases segment is anticipated to register the highest CAGR during the forecast period. Human immunodeficiency virus (HIV) is a major public health issue across the world. As per the World Health Organization (WHO), nearly 58 million individuals across the world have chronic hepatitis C virus infection, and ~1.5 million new infections occur every year. Critically ill patients who suffer from severe infections are at a high risk of receiving antimicrobial drugs in suboptimal doses. PK/PD modeling is a technique used to describe and measure the relationship between drug dose, concentration, and effect. Laboratories that specialize in the treatment of patients with serious infections, such as HIV, fungal infections, and tuberculosis, focus on providing therapeutic drug monitoring using liquid chromatography-mass spectrometry (LC-MS). Therapeutic drug monitoring (TDM) is a well-established clinical tool that allows clinicians to perform ADME and clearance studies. It also helps clinicians determine the necessary doses of drugs for each patient while taking into account the complex drug-drug interactions.

The ophthalmology devices market, by end user, is categorized into pharmaceutical and biotechnology companies, contract research organizations, and others.

Johnson & Johnson Vision Care Inc., Alcon AG, Carl Zeiss Meditec, Bausch & Lomb Inc, Essilor International SAS, Nidek Co Ltd, Topcon Corp, Haag-Streit AG, Ziemer Ophthalmic Systems AG, and Hoya Corp are among the leading companies operating in the global ophthalmology devices market.

Companies operating in the Op, hthalmology Devices market adopt various organic and inorganic strategies. Organic strategies mainly include product launches and product approvals. Acquisitions, collaborations, and partnerships are among the inorganic growth strategies witnessed in the ophthalmology devices market. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, thereby contributing to the overall ophthalmology devices market growth. Further, acquisition and partnership strategies help them strengthen their customer base and expand their product portfolios.

A few of the significant developments by key market players are listed below.

- Carl Zeiss Meditec AG acquired 100% shares of Dutch Ophthalmic Research Center (International) B.V. (DORC) from the investment firm Eurazeo SE, Paris. With this acquisition, the company had plans to enhance and complement ZEISS Medical Technology's broad ophthalmic portfolio and range of digitally connected workflow solutions for addressing a wide variety of eye conditions, including cataracts, retinal disorders, glaucoma, and refractive errors. (Source: Carl Zeiss Meditec AG, Press Release, December 2023)

- Rayner Group, the only manufacturer of intraocular lenses in the UK, entered into a definitive agreement and acquired This AG, a Switzerland-based developer, inventor, and manufacturer of Sophi phacoemulsification machines. (Source: - Rayner Group, Newsletter, January 2024).






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