Rising Demand for Advanced Eye Care Solutions Propels Ophthalmic Devices Market Growth at a 4.8% CAGR
The global ophthalmic devices market is projected to grow significantly, reaching an estimated value of USD 80.4 billion by 2032, up from USD 50.3 billion in 2023, reflecting a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2023 to 2032. This growth is primarily driven by the increasing prevalence of eye disorders such as cataracts, glaucoma, diabetic retinopathy, and macular degeneration. Technological advancements in ophthalmic devices, such as the integration of optical coherence tomography (OCT) with artificial intelligence (AI), are further boosting market growth. For instance, Abbott's Ultreon Software, which combines OCT with AI, enhances the…
- Date: May 23, 2024
- Author: Robert Shaw
- Category: PharmiWeb