China Ophthalmic Devices Market Outlook 2031:
The China ophthalmic devices market size was valued at USD 4.51 Billion in 2022 and is projected to reach USD 9.47 Billion by 2031, expanding at a CAGR of 8.59% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing prevalence of eye disorders and vision loss.
Ophthalmology is known to be a field of clinical science that handles function, structure, and several eye diseases. Ophthalmic devices are clinical instruments that analyze and treat conditions of eyes.
They can be used with an eye-care professional’s supervision, but some can also be self-administered by patients as part of home care. These ranges from simple tonometers to laser surgical systems for correcting eyesight issues such as myopia and hypermetropia, utilized during medical procedures along different items.
At the point when the World Health Organization (WHO) declared Covid-19 as an overall pandemic in March 2020, routine medical care arrangements were kept away to keep patients from getting the infection, and ophthalmology services were especially affected.
Numerous strategies are elective and most patients are older and in risk of experiencing Covid-19 side effects. As the pandemic proceeds with an anticipated ‘third wave,’ ophthalmologists are endeavoring to reduce the backlog of strategies while adhering to safety protocols. The Covid-19 pandemic can prompt a long-term change in the ophthalmology market.
Ophthalmic Devices Market Trends, Drivers, Restraints, and Opportunities
- Growing geriatric population is estimated to accelerate the growth of the market.
- Rising awareness toward eye care is one of the key factors fueling the market growth.
- Growing implementation of advanced technologies along with increasing number of manufacturing of such devices is estimated to drive the market growth.
- High prevalence of visual impairment and blindness is one of the major factors driving the market growth.
- High cost of some devices can restrain the growth of the market.
- Rising demand for ongoing market shift toward image-guided interventions is expected to create lucrative opportunity for the China ophthalmic devices market.
Scope of the Ophthalmic Devices Market Report
The report on the China ophthalmic devices market includes an assessment of the market, trends, segments, and Geography markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Ophthalmic Devices Market - China Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Devices (Surgical Devices [Glaucoma Drainage Devices, Glaucoma Stents and Implants, Intraocular Lenses, Lasers and Others] and Diagnostic and Monitoring Devices [Autorefractors and Keratometers, Ophthalmic Ultrasound Imaging Systems, Ophthalmoscopes, Optical Coherence Tomography Scanners and Others])
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Country Scope
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China
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Johnson and Johnson; Alcon Inc.; Topcon Corporation ;Bausch Health Companies Inc.; Carl Zeiss Meditec AG; EssilorLuxottica SA; HAAG-Streit Group; Hoya Corporation; Nidek Co. Ltd; and Ziemer Ophthalmic Systems AG.
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China Ophthalmic Devices Market Segment Insights
Lasers segment is expected to grow at a robust pace
Based on devices, the market is segregated into surgical devices, diagnostic and monitoring devices. The surgical devices segment is further classified as glaucoma drainage devices, glaucoma stents and implants, intraocular lenses, lasers and others. The diagnostic and monitoring devices segment is further segmented into autorefractors and keratometers, ophthalmic ultrasound imaging systems, ophthalmoscopes, optical coherence tomography scanners, and others.
The lasers segment is anticipated to account for a significant market share during the forecast period due to rapid growth of the medical tourism industry due owing to the globalization of the healthcare system. The laser is a preferred surgical procedure for vision correction problems. It can fix astigmatism, nearsightedness, and farsightedness. The laser can be applied to the iris or the trabecular meshwork to allow aqueous fluid to flow more effectively within the eye and drain better by the normal drainage channels within the eye.
Segments
The China ophthalmic devices market has been segmented on the basis of
Devices
- Surgical Devices
- Glaucoma Drainage Devices
- Glaucoma Stents and Implants
- Intraocular Lenses
- Lasers
- Others
- Diagnostic and Monitoring Devices
- Autorefractors and Keratometers
- Ophthalmic Ultrasound Imaging Systems
- Ophthalmoscopes
- Optical Coherence Tomography Scanners
- Others
Country
Key Players
Competitive Landscape
Key players competing in the China ophthalmic devices market are Johnson and Johnson; Alcon Inc.; Topcon Corporation; Bausch Health Companies Inc.; Carl Zeiss Meditec AG; EsilorLuxottica SA; HAAG-Streit Group; Hoya Corporation; Nidek Co. Ltd; and Ziemer Ophthalmic Systems AG.
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