Asia Pacific Ophthalmology Devices Market Report

Asia Pacific Ophthalmology Device Market Size

The Asia Pacific Ophthalmology Device Market is anticipated to rise from USD 7.41 billion in 2024 to USD 13.06 billion in 2033, growing at a CAGR of 6.5%.

The ophthalmology device market is one of the key growth areas in the medical device industry with rising demand for better quality healthcare services to improve millions of lives. Ophthalmic devices primarily include glaucoma, refractive, and cataract surgical instruments, among others. With increasing awareness and fast approvals, the growth is most likely to sustain in the coming years.

Ophthalmology devices encompass surgical devices that are used in treating infections and conditions relating to the eye. The usage of ophthalmology devices in surgeries has made it possible to decrease treatment time drastically while providing better eye care protection. These devices have also been proven to make the process of treating eyes more convenient for ophthalmologists and patients.

Owing to its advantages over its counterparts, the Ophthalmology device market is currently among the fastest-growing medical device market segments. The surge in demand is mainly attributed to technological innovations, the growing prevalence of eye diseases, and the aging population. The market is also aided by a host of other factors that include rising expenditure by governments and people on healthcare, increasing funding from the government, anthe d continuous improvements in medicine, which have all contributed positively to the ophthalmology market.

However, there are a few hurdles. The market has to overcome its healthy growth, including a lack of insurance in developing countries, a lack of knowledge about diseases like glaucoma, and poor infrastructure in healthcare.

REGIONAL ANALYSIS

In the Asia Pacific, China, combined with India, accounts for the majority of the market shares in this region. Japan is estimated to grow at a robust CAGR during the forecast period.

The Chinese ophthalmology devices market is predicted to hold the largest market share in this region due to the increasing geriatric population base expanding and is more responsive towards developing eye diseases and increasing technological advancement in this region. In December 2018, Novartis AG launched of iLux Device, which is used in the customizable treatment for the meibomian gland dysfunction.

The Indian ophthalmology devices market shows a significant growth rate in the Asia Pacific during the forecast period. The Indian market growth is strongly driven by incorporating innovative reimbursement models for ophthalmologic treatments in India and the strict regulatory framework that are focused on patients’ safety. According to the WHO, In India, glaucoma is the leading cause of irreversible blindness, with at least 12 million people suffered and around 1.2 million people are blind from the disease, which is estimated to propel the ophthalmic device market growth in India.

KEY MARKET PLAYERS

Prominent companies in the APAC Ophthalmology Device Market profiled in this report are Johnson & Johnson, Abbott Medical Optics Inc., Carl Zeiss Meditec, Hoya Corporation, Essilor International, Alcon Inc., Topcon Corporation, HAAG-Streit Group, Ziemer Ophthalmic System, Bausch and Lomb Inc., and Nidek Co. Ltd.

MARKET SEGMENTATION

This research report on the Asia Pacific Ophthalmology Devices Market has been segmented and sub-segmented into the following categories.

By Application

• Diagnostics & Monitoring Devices
• Surgery Devices
• Vision Care Devices

By Disorders

• Cataract
• Glaucoma
• Refractor Disorders
• Vitreo Retinal Disorder

By Devices

• Canaloplasty Devices
• Computerized Field Analyser

By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC