Spain Ophthalmic Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spain Ophthalmic Devices Market Analysis
The Spain ophthalmology drugs & devices market is expected to grow with a CAGR of 3% during the forecasted period.
The studied market was adversely affected by the pandemic. Various research studies have been published to provide insight into the effect of the pandemic. Ocular-related emergencies in Spain during the COVID-19 pandemic, a multicenter study, published in November 2021, reported a significant decline in an ophthalmological emergency (OE) visits during the pandemic in Spain (75.18%), even though more than half were labeled as non-urgent conditions, indicating a lack of awareness of the truly emergent ocular pathologies among the general public. Another study published in December 2021, named 'Retinal Hemorrhage after SARS-CoV-2 Vaccination' stated that few reports of retinal hemorrhage after other vaccinations have appeared. Recently, there has been a multi-center-based report on cases of retinal hemorrhage in COVID-19 patients in Spain. 36 out of 39 retinal vein occlusion (RVO) cases in COVID-19 patients occurred as the SARS-CoV-2 virus is affecting at-risk eyes, leading to retinal vascular abnormality. Thus, increasing COVID could lead to more complications and thus might increase the growth at some level.
Factors such as increasing eye disorders are expected to increase the market growth. An article titled 'The Prevalence of Myopia in Children in Spain: An Updated Study in 2020' published in November 2021 mentioned that the prevalence of myopia in Spain in children between 5 and 7 years old increased significantly between 2016 and 2020., which is the most common refractive error. Ophthalmology drugs & devices have been proven to be effective for diagnosing severe myopia. Thus, the increasing number of myopia cases in the country is expected to drive the adoption of ophthalmology drugs & devices which is expected to drive the growth of the studied market. Similarly, another report published in May 2021, named 'Validation of Automated Screening for Referable Diabetic Retinopathy With an Autonomous Diagnostic Artificial Intelligence System in a Spanish Population' stated that compared to manual grading by ophthalmologists, the autonomous diagnostic AI system had high sensitivity (100%) and specificity (82%) for diagnosing referable diabetic retinopathy (RDR) and macular edema in people with diabetes in a screening program. Hence, it provides insight into upgrading the infrastructure to achieve higher efficiency. Thus, the abovementioned factors are expected to increase market growth.
However, the higher cost of ophthalmic devices and treatment is expected to hinder the market growth.
Spain Ophthalmic Devices Market Trends
This section covers the major market trends shaping the Spain Ophthalmic Devices Market according to our research experts:
Glaucoma Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Factors such as increasing glaucoma and awareness campaign are expected to increase the market growth. Furthermore, according to the data of the International Diabetes Federation, 2020, the estimated number of diabetic adults in Spain was around 3,619,100, which constitutes about 10.5% of the total population. Data from 100,734 ambulatory care visits and 11,408 hospital admissions related to glaucoma were acquired from the database, according to a research report released in January 2022 with the title "Ambulatory and hospital care of glaucoma in Spain and associated medical expenses." The majority of incidents involved patients who were over 65. Over the course of the study, ambulatory facilities had an incidence of glaucoma of 2.2 per 10,000 people, while hospitals had an incidence of 0.2 per 10,000 people. While the incidence of glaucoma reduced in hospitals over the research period, it considerably rose in ambulatory settings. The majority of hospital admissions and ambulatory visits were scheduled or not-urgent. The average annual cost per ambulatory visit was EUR 5.5 million; the average annual cost per hospital stay was EUR 4.1 million. Over the course of the study, the yearly cost of ambulatory care climbed dramatically while the annual cost of hospital care significantly reduced. Similarly, raising awareness about the early diagnosis of glaucoma and other disease diagnosis related to eye ocular pressure and the adoption of new products in the market further boost the growth of the studied market in Spain. For instance, in February 2021, Specsavers Ópticas has its Glaucoma 2021 campaign to raise awareness of the condition known as the silent thief of sight, which affects more than half a million people in Spain alone.
Spain Ophthalmic Devices Industry Overview
The Spain ophthalmology drugs & devices market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Alcon Inc., Carl Zeiss Meditec AG, Essilor International SA, Johnson & Johnson, and Nidek Co. Ltd, among others.
Spain Ophthalmic Devices Market Leaders
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Alcon Inc.
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Carl Zeiss Meditec AG
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Essilor International SA
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Johnson & Johnson
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Nidek Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Spain Ophthalmic Devices Market News
- In February 2022, Alimera Sciences Europe Limited, its Ireland-based European subsidiary, launched Iluvien for noninfectious posterior uveitis in Spain, through its distribution partner, Brill Pharma (Brill).
- In January 2022, Alcon, the global leader in eye care dedicated to helping people see clearly, launched the newest addition to its innovative portfolio of dry eye products - Systane Complete Preservative-Free Lubricant Eye Drops, now in an easy-to-use, multi-dose bottle.
Spain Ophthalmic Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Demographic Shift and Impact of Prevalence of Eye Disease
- 4.2.2 Technological Advancements in the Field of Ophthalmology
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4.3 Market Restraints
- 4.3.1 Higher Cost of the Ophthalmic Devices and Treatment
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4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Devices
- 5.1.1.1 Surgical Devices
- 5.1.1.1.1 Intraocular Lenses
- 5.1.1.1.2 Ophthalmic Lasers
- 5.1.1.1.3 Other Surgical Devices
- 5.1.1.2 Diagnostic Devices
- 5.1.2 Drugs
- 5.1.2.1 Glaucoma Drugs
- 5.1.2.2 Retinal Disorder Drugs
- 5.1.2.3 Dry Eye Drugs
- 5.1.2.4 Allergic Conjunctivitis and Inflammation Drugs
- 5.1.2.5 Other Drugs
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5.2 By Disease
- 5.2.1 Glaucoma
- 5.2.2 Cataract
- 5.2.3 Age-Related Macular Degeneration
- 5.2.4 Inflammatory Diseases
- 5.2.5 Refractive Disorders
- 5.2.6 Other Diseases
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Alcon Inc.
- 6.1.2 Carl Zeiss Meditec AG
- 6.1.3 Essilor International SA
- 6.1.4 Johnson & Johnson
- 6.1.5 Nidek Co. Ltd
- 6.1.6 Topcon Corporation
- 6.1.7 Ziemer Group AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Spain Ophthalmic Devices Industry Segmentation
As per the scope of the report, ophthalmology devices are the equipment that is used for the diagnosis and treatment of various ophthalmic diseases, such as cataracts, glaucoma, and refractive errors. Ophthalmic drugs are used to treat eye infections and some of the above-mentioned diseases. The Spain Ophthalmology Drugs & Devices Market is Segmented By Product (Devices (Surgical Devices (Intraocular Lenses, Ophthalmic Lasers, and Other Surgical Devices), and Diagnostic Devices), and Drugs (Glaucoma Drugs, Retinal Disorder Drugs, Dry Eye Drugs, Allergic Conjunctivitis and Inflammation Drugs, and Other Drugs), and by Disease (Glaucoma, Cataract, Age-Related Macular Degeneration, and Inflammatory Diseases, Refractive Disorders, and Other Diseases). The report offers the value (in USD million) for the above segments.
| By Product | Devices | Surgical Devices | Intraocular Lenses |
| Ophthalmic Lasers | |||
| Other Surgical Devices | |||
| By Product | Devices | Diagnostic Devices | |
| By Product | Drugs | Glaucoma Drugs | |
| Retinal Disorder Drugs | |||
| Dry Eye Drugs | |||
| Allergic Conjunctivitis and Inflammation Drugs | |||
| Other Drugs | |||
| By Disease | Glaucoma | ||
| Cataract | |||
| Age-Related Macular Degeneration | |||
| Inflammatory Diseases | |||
| Refractive Disorders | |||
| Other Diseases |
Spain Ophthalmic Devices Market Research FAQs
What is the current Spain Ophthalmology Drugs & Devices Market size?
The Spain Ophthalmology Drugs & Devices Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Spain Ophthalmology Drugs & Devices Market?
Alcon Inc., Carl Zeiss Meditec AG, Essilor International SA, Johnson & Johnson and Nidek Co. Ltd are the major companies operating in the Spain Ophthalmology Drugs & Devices Market.
What years does this Spain Ophthalmology Drugs & Devices Market cover?
The report covers the Spain Ophthalmology Drugs & Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Spain Ophthalmology Drugs & Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Spain Ophthalmology Drugs & Devices Industry Report
Statistics for the 2024 Spain Ophthalmology Drugs & Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Spain Ophthalmology Drugs & Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
