Global Ophthalmic Equipment Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Ophthalmic equipment is a medical device that is used for a medical purpose, which requires in optometry and ophthalmology. This instrument aids in eye diagnosis like the tonometer that measures the pressure inside the eye, or the phoropter, which helps in determining the proper prescription for contact lenses or eyeglasses. The growing geriatric population, increasing incidences of eye disorders, coupled with rising government initiatives to control visual impairment are the primary factors that are burgeoning the market growth across the globe.

According to the World Health Organization (WHO) report of 2021, there were nearly 2.2 billion people were affected by a near or distance vision impairment, in which the leading causes of vision impairment and blindness are cataracts and uncorrected refractive errors. Thereby, the rising cases of eye disorders are acting as a catalyzing factor that is impelling the growth of the Ophthalmic Equipment Market. Moreover, increasing spending on healthcare services, as well as technological advancements in ophthalmic devices are presenting lucrative opportunities for market growth over the forecasting years. However, the high cost and risks associated with eye surgeries and the dearth of skilled professionals are hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Ophthalmic Equipment Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the space in terms of revenue, owing to the increasing healthcare expenditure, along with the presence of skilled professionals and proper healthcare facilities. Whereas, the Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising geriatric population, as well as increasing incidences of ocular disorders, which are bolstering the market growth.

Major market players included in this report are:

Bausch Health Companies, Inc.

Johnson and Johnson

Hoya Corporation

The Cooper Companies, Inc.

Canon

Glaukos Corporation

Nidek Co., Ltd.

Topcon Corporation

Zeimer Ophthalmic Systems

Staar Surgical

Recent Developments in the Market:

In 2022, Alcon announced the acquisition of Ivantis Inc. with the objective of business ensure continuity and relationships with existing customers and enabling Alcon to initiate its future growth plans to bring Hydrus Microstent to more international markets.
In 2020, Hoya Corporation created a joint venture named HOYA GeMax Medical with GeMax to promote IOLs service with a strong market position and a professional reputation across China.
In 2020, Bausch Health Companies Inc. declared the spin-off of its foremost eye health segment into an independent publicly traded entity ("Bausch + Lomb - NewCo") from the remainder of Bausch Health ("BHC")., which includes of Bausch Health's global vision care, consumer, surgical, and ophthalmic Rx businesses.
Global Ophthalmic Equipment Market Report Scope:

Historical Data: 2019-2020-2021

Base Year for Estimation: 2021

Forecast period: 2022-2029

Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends

Segments Covered Product, End-User, Region

Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

Customization Scope Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.

The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Vision Care Products

Surgical devices

Vitreoretinal surgical devices

Refractive surgical devices

Glaucoma surgical devices

Ophthalmic microscopes

Ophthalmic surgical accessories

Diagnostic and monitoring devices

By End-User:

Consumers

Hospitals

Specialty Clinics & Ambulatory Surgery Centers

Other End Users

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World