Ophthalmic Handheld Devices Market size exceeded USD 581.28 Million in 2023 and is anticipated to cross USD 815.58 Million by 2033, registering a CAGR of more than 2.97% during the forecast period. The expansion of the ophthalmic handheld devices market is impacted by a number of factors that contribute to the growing need for portable and efficient eye care solutions.
The rising prevalence of eye problems, particularly among the elderly, adds to the demand for ophthalmic handheld devices. Conditions like glaucoma, macular degeneration, and diabetic retinopathy demand frequent monitoring and early detection, which is pushing the development of handheld diagnostic instruments. The growing use of remote and teleophthalmology services drives up demand for mobile devices. Access to ophthalmic handheld devices may be limited in underserved or distant places with less developed healthcare infrastructure. This can lead to discrepancies in access to sophisticated eye care services.
Growth Drivers & Opportunities:
Rising incidence of ocular conditions
Age-related eye disorders such as cataracts, macular degeneration, and glaucoma are more common in the ageing population. As the world's population ages, there is a greater need for regular eye examinations and monitoring, which is boosting demand for handheld diagnostic equipment. Computer vision syndrome and dry eye are caused by the increasing usage of digital devices and prolonged screen time. Handheld devices aid in the diagnosis and management of ocular disorders, giving point-of-care treatments for people experiencing eye discomfort.
Increased use of ophthalmic handheld surgical instruments
Ophthalmic handheld surgical devices are essential in microsurgery, where precision is critical. Microsurgical advancements, such as cataract surgery and vitreoretinal surgery, have boosted demand for specialised portable instruments. The overall growth in the number of ocular surgeries, which is being driven by reasons such as ageing populations and a rising prevalence of eye disorders, contributes to the growing demand for ophthalmic portable surgical equipment. Because of the increasing prevalence of eye problems such as cataracts, retinal diseases, and glaucoma, surgical procedures are required. Handheld surgical instruments can help with the surgical elements of these illnesses.
Report Coverage | Details |
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Segments Covered | By Product Type, By Application, By End Use |
Regions Covered | • North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA) |
Growth Drivers | 1. Rising incidence of ocular conditions 2. Increased use of ophthalmic handheld surgical instruments |
Company Profiled | Haag-Streit Group; Appasamy Associates; Millennium Surgical Corp; Katalyst Surgical; ASICO, LLC; INKA Surgical Instruments; Surgical Holdings |
Industry Restraints & Challenges
High levels of competition
Intense rivalry frequently results in an ongoing demand for innovation. Companies must engage in R&D to introduce new and advanced ophthalmic handheld devices that keep up with or outperform competition. Cost competition while preserving product quality is an ongoing concern. To maintain pricing competitiveness, businesses must optimise manufacturing processes, investigate cost-effective materials, and manage supply chain efficiency. Mergers and acquisitions may cause market consolidation, resulting in larger competitors with more resources. Smaller businesses must compete against larger enterprises with broader capabilities.
North American Market
The North American ophthalmic handheld devices market size exceeded USD 214.73 Million in 2023. Factors such as the ageing population, the increasing frequency of eye illnesses, and developments in ophthalmic technologies are driving the market. North America's ageing population adds to a higher prevalence of age-related eye disorders such as cataracts, macular degeneration, and glaucoma. This demographic shift increases the demand for ophthalmic handheld devices for diagnostics and therapy. The market for ophthalmic handheld devices in North America is competitive, with prominent market competitors and medical device manufacturers present. These companies are always investing in R&D in order to introduce revolutionary handheld devices.
Asia Pacific Market
Asia Pacific region is witnessing the fastest market growth between 2024 to 2033. Due to the sheer size and diversity of the Asian-Pacific population, there is a strong demand for ophthalmic healthcare services, including diagnosis and treatments using handheld devices. Age, genetics, and lifestyle all have an impact on the prevalence of eye problems. Many Asia-Pacific countries' ageing populations are associated with an increase in the prevalence of age-related eye disorders. Ophthalmic portable devices are critical for meeting the diagnostic and treatment needs of the elderly.