Ophthalmic Device Market Expected to Achieve a Strong 3.35 % CAGR, to Reach USD 48.3 billion by 2035

The ophthalmic device market is advancing at a steady clip, backed by demographic shifts, technological innovation, and strategic vendor activity.

US, NY, UNITED STATES, September 2, 2025 /EINPresswire.com/ -- Ophthalmic Device Market, valued at USD 33.6 billion in 2024, is projected to climb to USD 48.3 billion by 2035, growing at a compound annual growth rate (CAGR) of approximately 3.35 percent over the forecast period (2025–2035). This growth is supported by increasing global demand for advanced eye care solutions, a rising prevalence of visual impairments, and accelerated adoption of cutting-edge ophthalmic technologies.

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Industry Size & Market Scope

The ophthalmic device industry encompasses a diverse portfolio of products, including diagnostic devices, surgical devices, vision care products, and intraocular lenses—each serving a critical role in patient care, clinical outcomes, and operational efficiencies for healthcare providers.

Diagnostic Devices accounted for USD 10.5 billion in 2024, forecast to reach USD 15.0 billion by 2035, driven by heightened screening for age-related and lifestyle-related eye diseases.

Surgical Devices held USD 11.0 billion in 2024, anticipated to rise to USD 16.0 billion, fueled by demand for minimally invasive surgeries and faster recovery options.

Vision Care Products were valued at USD 8.5 billion in 2024, expected to increase to USD 12.0 billion, reflecting the growth in corrective lens adoption and lifestyle-driven eye care solutions.

Intraocular Lenses measured USD 3.6 billion in 2024, projected to grow to USD 5.3 billion by 2035, supported by cataract surgery volumes and advancements in lens design.

Segmentation & Segment Growth

The market’s segmentation underscores unique growth trajectories:

Diagnostic Devices lead in technological innovation with the integration of AI-based screening tools, enabling early detection and improved patient monitoring.

Surgical Devices are witnessing a shift toward micro-incision and laser-assisted procedures, aligning with the global trend toward minimally invasive treatments.

Vision Care Products continue to expand as myopia rates rise globally, particularly among younger populations.

Intraocular Lenses are benefiting from demand for premium and multifocal options, enhancing post-surgical vision quality.

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Regional Market Share & Potential

The ophthalmic device market is geographically diverse, with both mature and emerging markets contributing to growth:

North America led with USD 14.3 billion in 2024, expected to reach USD 20.1 billion by 2035, supported by strong healthcare infrastructure and advanced surgical adoption.

Europe followed at USD 9.8 billion in 2024, projected to grow to USD 14.0 billion, benefiting from aging demographics and public health initiatives for vision screening.

APAC (Asia-Pacific) reached USD 6.5 billion in 2024, rising to approximately USD 9.2 billion by 2035, making it one of the most dynamic regions due to urbanization, increased healthcare spending, and a growing middle class.

South America and Middle East & Africa (MEA), at USD 1.7 billion and USD 1.3 billion respectively in 2024, are expected to each achieve around USD 2.5 billion by 2035, supported by gradual improvements in healthcare access and medical equipment procurement.

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Top Companies & Competitive Landscape

Key Companies in the Ophthalmic Device Market Include

Lumenis
Amingson
Abbott Laboratories
CooperCompanies
Johnson and Johnson
Hoya Corporation
Nidek
Invenio Imaging
Rayner Surgical
Carl Zeiss AG
Bausch Health
EssilorLuxottica
Novartis
Alcon
optos

Market Drivers

Several factors are fueling steady market expansion:

Aging population – The rise in cataract, glaucoma, and age-related macular degeneration is boosting demand for both surgical and diagnostic devices.

Lifestyle changes – Increased screen time and digital device usage are driving higher incidence of refractive errors.

Technological advancements – AI-driven diagnostics, robotic-assisted surgeries, and advanced intraocular lenses are raising clinical efficiency and patient outcomes.

Government health initiatives – Public programs promoting regular eye examinations are increasing early detection rates.

Emerging Trends & Recent Developments
The ophthalmic device sector is undergoing a digital transformation. Tele-ophthalmology, supported by cloud-based diagnostics, is enabling remote patient care, particularly in underserved regions. 3D printing is making inroads in the customization of surgical tools and vision correction devices. Furthermore, sustainability practices—such as recyclable surgical instrument designs—are beginning to influence procurement preferences.

Recent product developments include ultra-precise femtosecond laser systems, next-generation optical coherence tomography (OCT) platforms, and smart contact lenses capable of health monitoring.

Opportunities for B2B Stakeholders

The forecast period presents substantial opportunities for:

Manufacturers – Expanding into AI-enabled diagnostic equipment and premium intraocular lenses to capture high-margin segments.

Hospital procurement heads – Upgrading to integrated surgical suites that combine imaging, laser systems, and automated workflow tools.

Distributors – Building local partnerships in APAC, South America, and MEA to address rising demand.

Investors – Targeting companies with scalable technology platforms and diversified revenue streams across product categories.

Future Outlook

By 2035, with a projected market value of USD 48.3 billion, the ophthalmic device industry will remain integral to global healthcare delivery. While the CAGR of 3.35 percent reflects a mature industry, innovation pipelines and regional expansion will maintain growth momentum. Diagnostic devices are expected to lead in adoption rate due to preventive care trends, while surgical devices will benefit from minimally invasive and robotic technologies. Vision care products and intraocular lenses will continue evolving toward higher personalization and patient comfort.

Strategic alignment with technological trends, demographic shifts, and evolving healthcare procurement models will be critical for stakeholders aiming to strengthen their market share.

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