Optometry 2019

  Ophthalmic instruments aid in various ophthalmic procedures to treat the diseases. According to Ophthalmic Medical Devices, Diagnostics, and Surgical Equipment: Global Markets (HLC083B) from BCC Research, the global market was valued at nearly $16.9 billion in 2012, up from almost $15.3 billion in 2010.  The market is expected to reach $20.2 billion in 2017, an increase of nearly $3.4 billion during the forecast period and a compound annual growth rate (CAGR) of 3.7% from 2012 to 2017.

Markets in the United States are relatively steady and show moderate growth. The U.S. contact lens market in 2012 is estimated at $2.6 billion, accounting for 36% of worldwide sales.  The U.S. market is influenced by a variety of factors, including the stability of the economy, healthcare spending, product development, and availability and cost.  Sales for contact lenses in the United States are expected to grow at a rate of 3% annually, reaching $3 billion by 2017.

The European contact lens market is currently valued at $2.4 billion, reflecting slightly more than 33% of the $7.3 billion global market.  Key markets in Europe include Germany and the United Kingdom, where contact lens markets are well established.  Opportunities for growth remain in many Western European regions and the majority of Eastern Europe.  By 2017, the European contact lens market is projected to reach $2.8 billion, growing at a rate of 3% annually.