At 6.8% CAGR, Europe Ophthalmology Devices Market is Projected to be Worth US$ 16,575.70 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe ophthalmology devices market was valued at US$ 9,776.50 million in 2022 and is expected to reach US$ 16,575.70 million by 2030, registering a CAGR of 6.8% from 2022 to 2030. Increasing number of product launches, collaborations, acquisitions and technological advancements in ophthalmic devices are among the critical factors attributed to the Europe ophthalmology devices market expansion.

Ophthalmology device manufacturers are implementing strategies such as strategic alliances, geographic expansions, partnerships, mergers and acquisitions, and product/service launches to mark their presence in the market.

• In December 2023, Carl Zeiss Meditec AG acquired 100% shares of Dutch Ophthalmic Research Center (International) B.V. (D.O.R.C.) from the investment firm Eurazeo SE, Paris. With this acquisition, the company had plans to enhance and complement ZEISS Medical Technology's broad ophthalmic portfolio and range of digitally connected workflow solutions for addressing a wide variety of eye conditions, including cataracts, retinal disorders, glaucoma, and refractive errors.
• In January 2024, Rayner Group entered into a definitive agreement and acquired This AG, a Switzerland-based developer, inventor, and manufacturer of Sophi phacoemulsification machines. Rayner is the only manufacturer of intraocular lenses in the UK.
• In July 2021, Topcon Corporation acquired VISIA Imaging S.r.l, an ophthalmic device manufacturer headquartered in suburban Florence, Italy.

These collaborative efforts and product developments contribute significantly to the growth of the Europe ophthalmology devices market.

On the contrary, high cost of ophthalmic surgeries hampers the growth of Europe ophthalmology devices market.

Based on product, the Europe ophthalmology devices market is segmented into vision care products, surgical devices, and diagnostics and monitoring devices. The vision care products segment held 59.7% share of the Europe ophthalmology devices market in 2022, amassing US$ 5,831.98 million. It is projected to garner US$ 10,207.07 million by 2030 to expand at 7.2% CAGR during 2022-2030.

In terms of application, the Europe ophthalmology devices market is segmented into cataract, glaucoma, refractory disorders, vitreoretinal disorders, and other applications. The glaucoma segment held 44.8% share of the Europe ophthalmology devices market in 2022, amassing US$ 4,375.48 million. It is estimated to garner US$ 7,940.80 million by 2030 to expand at 7.7% CAGR during 2022-2030.

By end user, the Europe ophthalmology devices market is segmented into hospital and eye clinics, academic and research laboratories, and other end users. The hospital and eye clinics segment held 72.7% share of Europe ophthalmology devices market in 2022, amassing US$ 7,111.45 million. It is predicted to garner US$ 12,155.61 million by 2030 to expand at 6.9% CAGR during 2022-2030.

Based on country, the Europe ophthalmology devices market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 26.2% share of Europe ophthalmology devices market in 2022, amassing US$ 2,565.21 million. It is projected to garner US$ 4,452.05 million by 2030 to expand at 7.1% CAGR during 2022-2030.

Key players operating in the Europe ophthalmology devices market are Johnson & Johnson Vision Care Inc, Alcon AG, Carl Zeiss Meditec, Bausch & Lomb Inc, Essilor Intonational SAS, Nidek Co Ltd, Topcon Corp, Haag-Streit AG, Ziemer Ophthalmic Systems AG, and Hoya Corp., among others.

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