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Ocular Trauma Devices Market Size
Ocular Trauma Devices Market was valued at around USD 3.1 billion in 2022 and is estimated to reach over USD 5 billion by 2032. The growing prevalence of eye disorders such as cataracts, hyperopia, diabetic retinopathy, and glaucoma among others is projected to boost the industry gains.
According to the National Eye Institute (NEI), in 2010, the estimated number of people suffering from cataract were 24 million and is expected to reach 50 million by 2050 in the U.S. Similarly, the number of people affected with age-related macular degeneration is predicted to reach 5.4 million by 2050 from 2.4 million in 2010. This substantial evolution in the number of people suffering from eye diseases is set to drive the adoption of ocular trauma devices to treat optical conditions. Integration of advanced robotic-assisted systems is gaining demand in various healthcare settings such as ophthalmology clinics and hospitals. These systems have been adapted by clinicians for eye surgeries, allowing for greater precision, stability, and minimally invasive procedures, especially in delicate operations comprising retinal surgery.
Ocular trauma devices refer to medical tools, instruments, or equipment specifically designed and used for the diagnosis, treatment, or management of eye injuries or trauma. These devices are essential to assess and address a wide range of eye injuries and conditions that result from physical trauma, accidents, or other external factors.
However, the lack of skilled ophthalmologists in many emerging nations has been a concern. Many emerging nations face challenges in establishing and maintaining medical education and training facilities for ophthalmologists. This can result in a shortage of qualified professionals. Successful examination and treatment of eye-related disorders require specialized skills and training for healthcare professionals, particularly ophthalmologists. These procedures involve using advanced medical equipment and technologies that demand precision and expertise.
Why is the demand for ocular implants growing?
The ocular implants product segment reached over USD 1.3 billion in 2022 and will register commendable CAGR from 2023-2032 on account of its application in several ocular problems, such as myopia, hyperopia, and astigmatism.
How big is the ocular trauma devices industry?
Ocular trauma devices market size was USD 3.1 billion in 2022 and will surpass USD 5 billion by 2032 due to the growing prevalence of eye disorders such as cataracts, hyperopia, diabetic retinopathy, and glaucoma worldwide.
What factors are influencing ocular trauma devices market growth in the U.S.?
U.S. industry is expected to reach USD 1.7 billion by 2032 owing to the rising geriatric population, adoption of advanced technologies, growing healthcare expenditure, and favourable regulatory environment in the region.
Who are the key ocular trauma devices industry players?
Alcon, Inc., Carl Zeiss Meditec, Bausch + Lomb, Haag-Streit Group, IRIDEX Corporation, Optos, Topcon Corporation, Leica Microsystems, Sonomed Escalon, Innovative Optics, and Johnson & Johnson Vision are some of the major ocular trauma device companies worldwide.