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Rising advancements in ophthalmic devices intended to improve the comfort, safety, and overall well-being of individuals suffering from chronic eye diseases. Modern ocular trauma devices come equipped with unique features such as advanced ophthalmic imaging technology, smart contact lenses, and 3D printing among others. The integration of non-invasive imaging techniques such as optical coherence tomography (OCT) provides high-resolution cross-sectional images of the eye, enabling precise diagnosis and treatment of various eye conditions, including retinal detachment, macular degeneration, and glaucoma.
Moreover, the development of customized ocular prosthetics, AI for ophthalmology diagnostics, and advanced IOLs among others have significantly improved the diagnosis, treatment, and management of eye injuries and diseases. According to the World Health Organization, 314 million people suffer from visual impairment worldwide, of that 269 million have low vision and 45 million are blind resulting in the need for more standardized ophthalmic treatments. The rising prevalence of ocular trauma and related ailments propels the demand for ocular trauma devices.
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.
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.
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.
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.