Report : North America Ophthalmology Devices Market Forecast to 2031 - Regional Analysis - by Product (Vision Care Products, Surgical Devices, and Diagnostics and Monitoring Devices), Application (Cataract, Glaucoma, Refractory Disorders, Vitreoretinal Disorders, and Other Applications), and End User (Hospital and Eye Clinics, Academic and Research Laboratories, and Other End Users)
At 8.5% CAGR, North America Ophthalmology Devices Market is Projected to be Worth US$ 32,959.00 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the North America ophthalmology devices market was valued at US$ 17,221.21 million in 2023 and is expected to reach US$ 32,959.00 million by 2031, registering a CAGR of 8.5% from 2023 to 2031. Upsurge in incidence of ophthalmic disorders and increasing number of product launches, collaborations, acquisitions are among the critical factors attributed to the North America ophthalmology devices market expansion.
Ophthalmic devices are designed for surgical, diagnostic, and vision correction purposes. These devices have gained substantial importance over the years due to the high incidence of cataracts, glaucoma, and other vision-related issues. The adult population is more prone to ophthalmic disorders. According to the Glaucoma Research Foundation 2024, ~3 million Americans and ~80 million people worldwide suffer from Glaucoma. Hence, the rising burden of ophthalmic diseases such as cataracts among adult and older populations propels the need for vision care devices (contact lenses, spectacle lenses, etc.), diagnostics and monitoring devices (ophthalmic ultrasound imaging systems, fundus cameras, and so on), and surgical devices (refractive surgical devices, ophthalmic microscopes, etc.). The demand for quality eye care products is increasing with a rise in the prevalence of ophthalmic diseases across the region.
On the contrary, the high cost of ophthalmic surgeries hampers the growth of North America ophthalmology devices market.
Based on product, the North America ophthalmology devices market is segmented into vision care products, surgical devices, and diagnostics and monitoring devices. The vision care products segment held 60.2% share of the North America ophthalmology devices market in 2023, amassing US$ 10,359.86 million. It is projected to garner US$ 20,612.26 million by 2031 to expand at 9.0% CAGR during 2023–2031.
In terms of application, the North America ophthalmology devices market is segmented into cataract, glaucoma, refractory disorders, vitreoretinal disorders, and other applications. The glaucoma segment held 44.3% share of the North America ophthalmology devices market in 2023, amassing US$ 7,629.25 million. It is estimated to garner US$ 15,762.60 million by 2031 to expand at 9.5% CAGR during 2023–2031.
By end user, the North America ophthalmology devices market is segmented into hospital and eye clinics, academic and research laboratories, and other end users. The hospital and eye clinics segment held 72.3% share of North America ophthalmology devices market in 2023, amassing US$ 12,447.50 million. It is predicted to garner US$ 24,604.21 million by 2031 to expand at 8.9% CAGR during 2023–2031.
Based on country, the North America ophthalmology devices market is categorized into US, Canada, and Mexico. The US held 82.3% share of North America ophthalmology devices market in 2023, amassing US$ 14,164.45 million. It is projected to garner US$ 27,573.50 million by 2030 to expand at 8.7% CAGR during 2023–2031.
Key players operating in the North America ophthalmology devices market are Johnson & Johnson Vision Care Inc, Alcon AG, Carl Zeiss Meditec, Bausch & Lomb Inc, Essilor Intonational SAS, Nidek Co Ltd, Topcon Corp, Haag-Streit AG, Ziemer Ophthalmic Systems AG, and Hoya Corp., among others.
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