India Ophthalmology Devices Market Size (2024 - 2029)

The Indian ophthalmology devices market is projected to experience growth over the forecast period, driven by factors such as an increasing volume of cataract surgeries, technological advancements, and a rising geriatric population. The market's expansion is further supported by the growing prevalence of ophthalmic diseases, which has been exacerbated by the COVID-19 pandemic's impact on healthcare services. Despite these positive trends, challenges such as a shortage of skilled professionals and limited awareness of ophthalmic conditions may hinder the market's potential growth.

Market Size of India Ophthalmology Devices Industry

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India Ophthalmology Devices Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 605.56 Million
Market Size (2029) USD 796.93 Million
CAGR (2024 - 2029) 5.65 %

Major Players

India Ophthalmology Devices Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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India Ophthalmology Devices Market Analysis

The India Ophthalmology Devices Market size is estimated at USD 605.56 million in 2024, and is expected to reach USD 796.93 million by 2029, growing at a CAGR of 5.65% during the forecast period (2024-2029).

The COVID-19 pandemic was an unprecedented health concern that affected every sector in different ways. The WHO alerted the pandemic as a public health issue but in India, most ophthalmologists were not seeing the patients as the government imposed a nationwide lockdown during the pandemic. That is attributed to the high risk of transmission of SARS-CoV-2 during ophthalmic procedures. In December 2020, the MoHFW, the Government of India, released guidelines to minimize COVID-19 infection among Ophthalmologists, Ophthalmic assistants/technicians, nurses, support staff, patients, and their attendants. In addition, according to these guidelines, eye care facilities in containment zones were to remain closed, and only outside containment zone were allowed to open. This significantly impacted the demand for ophthalmic procedures and devices in the country. However, currently, as the pandemic subsided, the patient inflow in ophthalmic centres increased, and it was expected to pose a strong growth during the forecast period of the study.

Factors such as growing cataract surgeries volume, technological advancements in the field of ophthalmology, and rising geriatric population are expected to enhance the growth of the studied market during the forecast period of the study.

Ophthalmology-based diseases in India are increasing. For instance, according to an article published by the Indian Journal of Ophthalmology in May 2021, a study was conducted which showed that the crude and overall age-adjusted prevalence for any positive dry eye disease symptom was 6.5% and 6.8% in males and females respectively. Furthermore, according to an article published by the Lancet Global Health in October 2022, a study was conducted which showed the overall national prevalence of diabetic retinopathy was found to be around 12.3% in India. This showed that there is a significant and growing burden of ophthalmic diseases in India.

Furthermore, as per the 2021 statistics by the Ministry of Statistics and Program Implementation (MoSPI), India, the number of females and males in the elderly population is projected to reach 100.9 million and 92.9 million by 2031 respectively. Such an anticipated increase in the elderly population growth rate is also associated with th increasing number of cataract surgeries performed per year that, in turn, indicates the rising demand for ophthalmic devices in the country. For instance, in May 2022 as per the Union Helath Minister of the country, the country requires 49 lakh surgeries to clear the backlog of blindness due to cataract and 53.63 lakh surgeries are needed to clear the backlog of severe visual impairment due to cataract.

Therefore, owing to the aforementioned factors, the studied market is anticipated to witness growth over the analysis period. However, the lack of skilled professionals and the lack of awareness about ophthalmic diseases is likely to impede the market's growth.

India Ophthalmology Devices Industry Segmentation

As per the scope of the report, ophthalmic devices are medical devices used in the identification and treatment of ocular defects or deficiencies and eye disorders. The ophthalmic devices are designed for diagnostics, surgical, and vision correction purposes. These devices are continuously gaining increased importance and adoption due to the high prevalence of various ophthalmic diseases, such as glaucoma, cataract, and other vision-related issues. The Indian Ophthalmology Devices market is segmented by Device (Surgical Device, Diagnostic and Monitoring Device, and Vision Care). The report offers the value (in USD million) for the above segments.

By Devices
Surgical Devices
Glaucoma Surgery Devices
Cataract Surgery Devices
Refractive Surgery Devices
Other Surgical Devices
Diagnostic and Monitoring Device
Autorefractors and Keratometers
Corneal Topography Systems
Ophthalmic Ultrasound Imaging Systems
Other Diagnostic and Monitoring Devices
Vision Care
Spectacles
Contact Lens
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India Ophthalmology Devices Market Size Summary

The Indian ophthalmology devices market is poised for significant growth, driven by factors such as the increasing volume of cataract surgeries, technological advancements, and a rising geriatric population. The market experienced a temporary setback during the COVID-19 pandemic due to lockdowns and safety concerns, which affected the demand for ophthalmic procedures and devices. However, as the situation improved, there was a resurgence in patient inflow at ophthalmic centers, setting the stage for robust market expansion. The growing prevalence of ophthalmic diseases, such as diabetic retinopathy and dry eye syndrome, further underscores the demand for advanced ophthalmology devices. The anticipated increase in the elderly population is expected to contribute to the rising number of cataract surgeries, thereby boosting the market for ophthalmic devices in India.

The market is characterized by a diverse range of devices, including those used for glaucoma treatment, which is a leading cause of irreversible blindness in the country. The introduction of micro-invasive glaucoma surgery (MIGS) has enhanced patient management and increased the demand for related devices. Additionally, the spectacles segment is experiencing growth due to the rising prevalence of refractive errors like myopia and hypermetropia, coupled with increased awareness and product innovations. The market is highly fragmented, with major players such as Alcon Inc., Bausch Health Companies Inc., and Johnson & Johnson holding substantial shares. Recent product launches and the establishment of new subsidiaries, like Lumibird Medical India, are expected to further drive market growth by expanding the availability of advanced ophthalmic devices across the country.

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India Ophthalmology Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Growth in Cataract Volume

      2. 1.2.2 Technological Advancements in the Field of Ophthalmology

      3. 1.2.3 Rising Geriatric Population

    3. 1.3 Market Restraints

      1. 1.3.1 Shortage of Skilled Professionals

      2. 1.3.2 Low Awareness About Eye-related Diseases

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD Million)

    1. 2.1 By Devices

      1. 2.1.1 Surgical Devices

        1. 2.1.1.1 Glaucoma Surgery Devices

        2. 2.1.1.2 Cataract Surgery Devices

        3. 2.1.1.3 Refractive Surgery Devices

        4. 2.1.1.4 Other Surgical Devices

      2. 2.1.2 Diagnostic and Monitoring Device

        1. 2.1.2.1 Autorefractors and Keratometers

        2. 2.1.2.2 Corneal Topography Systems

        3. 2.1.2.3 Ophthalmic Ultrasound Imaging Systems

        4. 2.1.2.4 Other Diagnostic and Monitoring Devices

      3. 2.1.3 Vision Care

        1. 2.1.3.1 Spectacles

        2. 2.1.3.2 Contact Lens

India Ophthalmology Devices Market Size FAQs

The India Ophthalmology Devices Market size is expected to reach USD 605.56 million in 2024 and grow at a CAGR of 5.65% to reach USD 796.93 million by 2029.

In 2024, the India Ophthalmology Devices Market size is expected to reach USD 605.56 million.

India Ophthalmology Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)