Market Size of Italy Ophthalmic Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Italy Ophthalmic Devices Market Analysis
The Italian ophthalmic devices market is expected to grow at a CAGR of 6.1% during the forecast period.
During the initial phase of the COVID-19 pandemic, Italy was the first to declare widespread lockdown and severe limitations on working activities and mobility. These limitations affected the demand for ophthalmic devices in Italy. For instance, as per the data from the European Journal of Ophthalmology published in January 2022, due to COVID-19, Verona's University Eye Clinic in Italy rescheduled daily tasks to ensure continuity of care for individuals with serious ocular diseases and witnessed a sudden drastic decline in the number of visits during the pandemic. The same report stated that during the lockdown, ophthalmic clinical activities dropped by 31% in Italy in 2020. Hence, it is observed that COVID-19 had a significant impact on the market studied.
The key factors propelling the market's growth in Italy include demographic shift and increasing burden of eye diseases, rising geriatric population, and technological advancements in ophthalmic devices. As per the MDPI report published in September 2021, the prevalence of ophthalmic diseases such as cataracts, glaucoma, maculopathy, and retinopathy was 52.6%, 5.3%, 5.6%, and 29.1%, respectively, in Italy. Awareness about ophthalmic conditions is higher in the country, augmenting the demand for devices. For instance, among the affected people, those aware of their condition were 21.8% for cataracts, 65.4% for glaucoma, and 7.1% for maculopathy. The data mentioned in the MDPI report suggest that the burden of eye diseases is increasing in Italy every year, which is believed to create more demand for ophthalmic devices in the country.
With the presence of key market players such as Alcon Inc., Bausch Health Companies, and Johnson and Johnson, the market has better availability of ophthalmic devices. For instance, in Italy, few devices are marketed for glaucoma, including GATT, Kahook, and iStent inject. As per the data from the Italian Society of Ophthalmology published in 2021, over 550,000 people were living with glaucoma in Italy in 2021, and the prevalence was 2% in people over 40 years. Due to the large number of people having glaucoma, there is a growing adoption of glaucoma devices. The data from the National Institute of Health published in January 2021 stated that the iStent inject has emerged as a safe option among Microinvasive Glaucoma Surgery (MIGS) devices, as it does not require trabecular meshwork removal. With the availability of such devices, the market studied is expected to witness growth in Italy over the forecast period.
However, risks associated with ophthalmic procedures are expected to restrain the market's growth.
Italy Ophthalmic Devices Industry Segmentation
As per the scope of the report, ophthalmology is a branch of medical sciences that deals with the structure, function, and various diseases related to the eye. Ophthalmic devices are medical equipment for diagnosis, surgical, and vision correction purposes.
The Italian ophthalmic devices market is segmented by devices (surgical devices, diagnostic and monitoring devices, and vision correction devices). The report offers the value (in USD million) for the above segments.
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Italy Ophthalmic Devices Market Size Summary
The Italian ophthalmic devices market is poised for significant growth, driven by demographic shifts, technological advancements, and an increasing burden of eye diseases. The aging population in Italy, coupled with a rising prevalence of conditions such as cataracts, glaucoma, and maculopathy, is fueling demand for ophthalmic devices. The market is characterized by the presence of major players like Alcon Inc., Bausch Health Companies, and Johnson & Johnson, which enhance the availability of advanced devices. Despite the initial setbacks caused by the COVID-19 pandemic, which led to a temporary decline in ophthalmic clinical activities, the market is recovering and expected to expand steadily. The introduction of innovative devices, such as the iStent inject for glaucoma treatment, underscores the ongoing technological progress in the sector.
The spectacle lens segment is also experiencing robust growth, supported by Italy's strong manufacturing capabilities and export activities. Companies like EssilorLuxottica SA are leading the charge with new product launches, such as the Stellest spectacle lens, which have received international acclaim. The increasing number of individuals with vision impairment, including those with moderate to severe vision loss, is further propelling the demand for corrective lenses. The market's growth is also bolstered by the engagement of key industry players in developing advanced ophthalmic technologies, as evidenced by events like the European Society of Cataract and Refractive Surgeons Congress held in Milan. Overall, the Italian ophthalmic devices market is set to witness substantial growth, driven by a combination of demographic trends, technological innovations, and a strong industrial presence.
Italy Ophthalmic Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Demographic Shift and Increasing Prevalence of Eye Diseases
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1.2.2 Rising Geriatric Population
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1.2.3 Technological Advancements in Ophthalmic Devices
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1.3 Market Restraints
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1.3.1 Risk Associated with Ophthalmic Procedures
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Devices
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2.1.1 Surgical Devices
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2.1.1.1 Glaucoma Drainage Devices
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2.1.1.2 Glaucoma Stents and Implants
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2.1.1.3 Intraocular Lenses
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2.1.1.4 Lasers
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2.1.1.5 Other Surgical Devices
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2.1.2 Diagnostic and Monitoring Devices
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2.1.2.1 Autorefractors and Keratometers
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2.1.2.2 Corneal Topography Systems
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2.1.2.3 Ophthalmic Ultrasound Imaging Systems
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2.1.2.4 Ophthalmoscopes
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2.1.2.5 Optical Coherence Tomography Scanners
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2.1.2.6 Other Diagnostic and Monitoring Devices
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2.1.3 Vision Correction Devices
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2.1.3.1 Spectacles
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2.1.3.2 Contact Lenses
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Italy Ophthalmic Devices Market Size FAQs
What is the current Italy Ophthalmic Devices Market size?
The Italy Ophthalmic Devices Market is projected to register a CAGR of 6.10% during the forecast period (2024-2029)
Who are the key players in Italy Ophthalmic Devices Market?
Alcon Inc, Bausch Health Companies Inc, Johnson and Johnson, Ziemer Ophthalmic Systems AG and Carl Zeiss Meditec AG are the major companies operating in the Italy Ophthalmic Devices Market.
