The size of the Ophthalmology Device Market in Europe is currently valued at USD 9.34 Billion in 2022. It is forecasted to reach USD 12.26 billion by 2027, growing at a significant CAGR of 5.6% between 2022 to 2027.
The increasing geriatric population and ocular diseases created greater opportunities in the ophthalmic device market, increasing the demand for cataracts, glaucoma, refractive, and other surgical devices. The growth is believed to sustain in the years to come with rapid approvals for the devices and increasing awareness about the diseases.
Ophthalmology is a branch of medicine dealing with diseases relating to physiology, anatomy, and the eyes. Ophthalmology devices encompass a wide range of surgical devices that are primarily used to treat eye conditions. These devices help in reducing the treatment time drastically, at the same time offering better quality protection to the patients. It is also proved to be a convenient way of operating for both ophthalmologists and patients.
The medical device market has witnessed the emergence of ophthalmology devices as one of the market's leading segments. The market is primarily driven by the rising prevalence of eye diseases with an increasingly aging population and advancement in ophthalmology devices. The growth is also attributed to the rising expenditure on healthcare, government investments in healthcare, and continuous developments and innovations in the medical field.
However, factors like lack of healthcare insurance in many developing countries, lack of knowledge about diseases like glaucoma among individuals, and poor infrastructure are factors restraining the growth of the market.
This research report on the European Ophthalmology Devices Market has been segmented and sub-segmented into the following categories:
Key market participants in the Europe 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.
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