Bausch Health Companies, Inc. (Canada), Alcon (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson and Johnson (US), Hoya Corporation (Japan), and The Cooper Companies, Inc.(US) are the leading players in the ophthalmic equipment market.
The global ophthalmic equipment market is projected to reach USD 80.9 billion by 2027 from USD 63.4 billion in 2022, at a CAGR of 5.0%. The growth of the ophthalmic equipment market is mainly driven by factors such as rise in adoption of digital devices, increasing prevalence of vision disorders, technological advancements in ophthalmic devices, government initiatives to control visual impairment, and the increasing adoption of contact lenses and spectacles. However, high cost and risk associated with eye surgeries, the high cost of ophthalmology devices, and the rising adoption of refurbished devices are expected to restrain the growth of this market during the forecast period.
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The global ophthalmic equipment market is consolidated at the top, with various players governing major shares in the market. Some of the major players in the market are Bausch Health Companies, Inc. (Canada), Alcon (Switzerland), Carl Zeiss Meditec AG (Germany), Johnson and Johnson (US), Hoya Corporation (Japan), The Cooper Companies, Inc.(US), and EssilorLuxottica (France).
EssilorLuxottica (France) is the leading player in the ophthalmic equipment market. The company is a global leader in the production of ophthalmic lenses and optical equipment. Essilor offers slit lamps, tonometers, wave analyzers, auto kerato-refractometers, lensmeters, phoropters, and chart projectors for the diagnosis of eye diseases. It also offers a range of eyeglass lenses for presbyopia, astigmatism, and various other vision problems under reputed brands such as Varilux, Crizal, Crizal Prevencia, Eyezen, Xperio, Optifog, Bolon, Costa, Osse, Transitions, Foster Grant, and Kodak Lens. EssilorLuxottica focuses on organic and inorganic growth strategies to sustain its market position and enter high-growth markets.
Alcon (US) offers a broad spectrum of innovative surgical products, contact lenses, and surgical diagnostic devices. The company also offers advanced viscoelastic surgical solutions, surgical packs, and other disposable products for cataract and vitreoretinal surgery. The Vision Care business focuses on daily disposable, reusable and colour-enhancing contact lenses and a comprehensive portfolio of ocular health products, including products for dry eye, ocular allergies, glaucoma, and contact lens care, as well as ocular vitamins and redness relievers.
Carl Zeiss Meditec AG is one of the leading players in the global ophthalmic equipment market. The company’s leading position in this market can be attributed to its strong geographic presence and brand value, which has helped it gain a competitive edge in the market. The company offers a wide range of ophthalmic diagnostic & monitoring equipment products, including OCT systems, slit lamps, fundus cameras, wavefront aberrometers, keratometers, tonometers, and lensmeters. The company’s key strengths are its strong geographic presence, technologically diverse product portfolio, and wide network distribution across major markets (such as the US, the UK, and Germany, among others).
Ophthalmic Equipment Market by Product (Spectacles, Contact Lenses, OCT Scanner, Fundus Camera, Ultrasound,Perimeter,Autorefracter, Slit Lamp, Keratometer, Tonometer, Ophthalmoscope, IOL,OVDs), End User (Consumer, Hospitals) - Global Forecast to 2027
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