Ocular Trauma Devices Market Size, Share & Trends Analysis Report By Device Type (Implants, Instruments, Disposables), By Indication (Blunt Trauma, Chemical Trauma, Sharp Trauma), By End-Use, By Region, and Segment Forecasts, 2022 - 2030

Report Overview

The global ocular trauma devices market size was valued at USD 3.52 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.2% over the forecast period from 2022 to 2030. The rise in the prevalence of optical conditions such as glaucoma, cataracts, diabetic retinopathy, and vitreoretinal disorders, along with technological developments in ophthalmic instruments, can be attributed to the growth of the market. The improved government initiatives to raise awareness of visual impairment will broaden the basis for market growth. Aging people are more prone to developing age-related ophthalmic problems. The rapidly aging population is expected to drive the demand for ophthalmic devices and procedures such as implants, contact lenses, and surgeries. According to the National Institute on Aging (NIA), over 72 million people will be aged 65 and above by 2030. The rising prevalence of diabetes among the elderly population and the frequency of developing diabetes-related blindness is expected to drive the demand for ocular devices. 

According to the WHO, around 422 million people worldwide have diabetes, and most reside in low- and middle-income nations. The COVID-19 pandemic had a negative impact on the market, as only urgent referrals from primary or secondary health institutions, outpatient emergencies, and inpatients whose medical problems required keeping them hospitalized were handled by hospitals. Elective eye procedures and clinics were postponed due to the imposed lockdowns. Although this affected the market during the pandemic, the loss is expected to be offset by an increase in sales of ocular health goods such as eye drops.

The development of technology is yet another factor that is crucial in accelerating the demand for market expansion. Many key companies are launching implants for treating different eye-related diseases and applying for FDA approval to maintain their position in the market. For instance, Roche, a healthcare company offering diagnostic and pharmaceutical products, announced that its ocular implants to treat chronic diseases causing blurred vision have been approved by the Food and Drug Association in the U.S. in October 2021. Similarly, the FDA approved the Glaukos Corporation's iStent Inject, a second-generation trabecular meshwork bypass stent in June 2018. The device is licensed for implantation during phacoemulsification and is suitable for the treatment of mild to moderate glaucoma.

Device Type Insights

Based on device type, the market is segmented into implants, instruments, and disposables. Among these, the implants segment accounted for the largest market share of 45.0% in 2021 and is expected to witness the fastest CAGR of 8.0% over the forecast period from 2022 to 2030. The rising incidence of eye-related disorders & injuries such as age-related macular degeneration, cataract, glaucoma, and scleritis is expected to contribute to the growing demand for ocular trauma devices.

The International Diabetes Federation estimates that 643 million people will have diabetes by 2030, up from an estimated 537 million in 2021. The rising prevalence of diabetes across the globe and the growing adoption of a sedentary lifestyle is likely to increase the risk of diabetic retinopathy in the coming years. The rising cases of diabetic retinopathy are likely to increase the demand for ocular trauma devices such as implants and disposables.

Indication Insights

Based on the indication, the market is segmented into blunt trauma, chemical trauma, and sharp trauma. The blunt trauma segment dominated the market with a revenue share of 47.5% in 2021. Combinations of forces such as acceleration and deceleration, shearing, & crushing pressure can result in blunt trauma to the eye area. Blunt eye injury describes an injury or a wound in the vicinity of the eye brought on by a strong blow or a physical assault with a dull instrument. The WHO projects that there will be over 2 billion elderly people worldwide by 2050. The rising elderly population will fuel the expansion of the segment growth across the globe.

On the other hand, the sharp trauma segment is expected to witness the fastest growth during the forecast period with a CAGR of 8.7% owing to the growing cases of sharp object eye injuries, especially in the workplace environment. According to the U.S. Bureau of labor safety, the majority of occupational injuries in the U.S. are caused due to sharp objects, slips, trips, falls, and contact with sharp items & equipment.

End-Use Insights

Based on end-use, the market is segmented into hospitals, ophthalmic clinics, and others. Among these, the hospital segment dominated the market in terms of revenue share in 2021 with a share of 50.2% owing to the growing use of ophthalmic technology and the availability of affordable and efficient treatment in the hospitals. In the upcoming years, the need for new device installations is projected to increase due to the rising number of collaborations between ophthalmic clinics and hospitals due to more patients choosing to have ocular procedures performed in hospitals instead of clinics.

The ophthalmic clinics segment is expected to witness the fastest growth during the forecast period with a CAGR of 7.9% from 2022 to 2030. Due to the increasing need for eye care services in outlying locations, the ophthalmic clinic segment is anticipated to expand significantly over the forecast period. With a sharp increase in the number of specialty ophthalmic centers, it is projected that the growing number of ophthalmologists in developing economies will have a significant impact on segment growth.

Regional Insights

In 2021, North America accounted for the largest revenue share of 43.8% due to the rise in the elderly population, increased cases of eye-related problems, and an overall increase in healthcare costs. Moreover, factors such as high levels of stress, poor lifestyles, and the increased frequency of chronic eye disorders such as diabetic retinopathy are contributing to market growth.

Asia Pacific is anticipated to witness rapid growth over the forecast period with a CAGR of 9.6% pertaining to the significant rise in the aging population along with the improving healthcare infrastructure. In addition, developing nations such as China and India are expected to have the highest development in healthcare delivery. The market in this region is expanding due to the rising diabetic population, growing cataract procedures, and the rising costs of both private & public eye care.

Key Companies & Market Share Insights

The key players in the ocular trauma devices market are undertaking strategies such as partnerships, mergers & acquisitions, product launches, agreements, joint ventures, collaborations, and expansion to strengthen their market position. Furthermore, companies in this sector are focusing on strategic partnerships with manufacturers, raw material providers, and product innovators in the market. For instance, Alcon, an American-Swiss medical device company that specializes in eye care products, purchased Ivantis, a business that introduced a glaucoma surgery device, the Hydrus Microstent in January 2022. This device is used in conjunction with cataract surgery to reduce eye pressure in patients with open-angle glaucoma. This acquisition is expected to enable Alcon to prioritize evidence-based research and extend Hydrus Microstent into the international market. Some prominent players in the global ocular trauma devices market include:

• Alcon

• Bausch & Lomb, Inc.

• Carl Zeiss AG

• Johnson & Johnson Vision

• CooperVision

• TopCon

• EssilorLuxottica

• Hoya Corporation

• Glaukos Corporation

 Ocular Trauma Devices Market Report Scope

Global Ocular Trauma Devices Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global ocular trauma devices market report based on device type, indication, end-use, and region:

• Device Type Outlook (USD Billion, 2017 - 2030)

  • Implants

  • Instruments

  • Disposables

• Indication Outlook (USD Billion, 2017 - 2030)

  • Blunt Trauma

  • Chemical Trauma

  • Sharp Trauma

• End-Use Outlook (USD Billion, 2017 - 2030)

  • Hospitals

  • Ophthalmic Clinics

  • Others

• Regional Outlook (USD Billion, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

    • Singapore

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Columbia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Israel