The global eye care surgical device market is growing at a CAGR of 4.6% during the forecast period. The growing prevalence of ophthalmic diseases and advancement in technology related to eye care is one of the prime factors affecting and driving the market. Further, the rising geriatric population, expanding demand for diagnostic procedures, and increasing cases of diabetes among others are also estimated to contribute to the growth of the market. However, certain factors are affecting the growth of the market. High costs of eye care surgical devices and lack of skilled professionals are major factors constraints that are hindering the growth of the market across the globe. Further, the outbreak of the COVID-19 pandemic has declined the number of elective surgery procedures which has impacted the market growth in 2020. The reopening of elective surgery in 2021 and 2022 is expected to boost the market growth during the next two years. 

Additionally, various initiatives are taken by the government and non-government organization also plays a vital role in the growth of the market. Sightsavers which is one of the international non-government organization that battle against the blindness in developing countries. The organization supports and works in eye healthcare in countries that include India, Bangladesh, Sri Lanka among others for providing eye health care and restoring sight through specialist treatment. In India, Sightsavers has provided support to thousands of local partners for enabling them to become sufficient enough by themselves to offer services in eye care and it also provided treatment to over 20 million eye patients along with bringing eye care to even those areas that were least served in the country. Additionally, they have worked on bringing affordable cataract surgery in evolving globe with the formation of a unit to produce high quality and low-cost plastic lenses in the country. 

Segmental Outlook 

The market is segmented based on type, and end-user. By type, the market is segmented into cataract surgical devices, glaucoma surgical devices, diabetic retinopathy surgical devices, refractive surgical devices, and vitreoretinal surgical devices. Further, based on the End User segment, the market is segmented into Diagnostic Centres, Hospitals, and Eye Care Clinics. 

Global Eye Care Surgical Device Market Share by Type, 2020 (%)

By types, cataract surgical procedure is being opted to separate the lens from the eye. In some of the cases mostly it has been observed that replacement is done with the lens that is the artificial lens. The lens of the eyes is generally cleared but the presence of a cataract causes the lens to become cloudy that will ultimately lead to a vision problem of the person. As per the information of the National Center for Biotechnology Information, in the US around 10 million people across the globe had to undergo cataract surgery every year. Further, nowadays with the advancement in technology one type of lens that is intraocular lens has also been inserted that supports far away vision clearly along with night vision without the wearing of glasses. It is expected that after the Cataract surgery vision of an individual becomes much clear and better ranging within 1 day to 7 days depending on person to person who has gone through the surgery.   

Regional Outlooks

The global eye care surgical device market is analyzed based on the geographical regions that are contributing significantly towards the growth of the market. North America is estimated to be one of the growing regions in the global eye care surgical device market. Some factors that are boosting the market growth in North America are early adopters of technology-related with eye surgical, high spending in the healthcare sector, awareness among people along with the increasing number of cases related to the eye are some of the factors that are driving the growth of the market in the region. 

Global Eye Care Surgical Device Market, by Region 2021-2027

Asia-Pacific Will Have Considerable Growth in The Global Eye Care Surgical Device Market

Asia-Pacific region is expected to witness significant growth opportunities for the market. Rising support from governments along with new initiatives taken by various NGOs with regards to eye awareness. Further, rapidly developing healthcare and increasing rates of patients are also considered important factors for driving the growth of the market in the Asia-Pacific region. Additionally, the growing geriatric population in the Asia-Pacific region in countries such as Japan, India among others is also a prime factor that will drive the eye care surgical device market. 

Market Players Outlook

Key players of the global eye care surgical device market include Alcon Vision LLC, Allergan PLC, Boston Scientific Corp. Bausch & Lomb Inc., CooperVision, Johnson & Johnson Vision Inc. To survive in the market, these players adopt different marketing strategies such as product launches. For instance, In January 2021, Hoya Surgical Optics had set forth the launch of CLEAR LOG. The Full form of CLEAR LOG stands for cataract and lens exchange analysis and register log. This is considered an application which is made to analyze the clinical outcomes of surgery that includes RLE and cataract. Additionally, the offering by the application will include powerful recording along with enabling the surgeons themselves to decide the appropriate level of collection of data to do the proper practice.

In July 2019, Johnson and Johnson's vision had announced to begin a surgical vision experience center. This center will be at the Johnson and Johnson institute which is located in Jacksonville, FL that will provide premier physical training space along with the different types of experiential programs that will be conducted in a laboratory setting that includes training through practicing by ophthalmic surgeons. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global eye care surgical device market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.