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The global cataract surgical devices market size reached US$ 8.12 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 10.66 Billion by 2027, exhibiting at a CAGR of 4.48% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A cataract is a common ocular disorder wherein the clear and natural lens of the eye becomes cloudy. It leads to partial or complete vision loss, color fading, night blindness, double vision, and sensitivity to bright lights. It develops when proteins in the eye form clumps and prevent the lens from sending clear images to the retina. It is commonly caused by eye injuries, aging, inflammation, and other eye diseases damaging the tissue that protects eye lenses. Consequently, there is a significant growth in the number of cataract surgeries that are performed with the help of technologically advanced devices and laser-assisted technology across the globe.
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Note: Values and trends in the above chart consists of dummy data and are only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Global Cataract Surgical Devices Market Trends:
The increasing geriatric population, which is more prone to cataracts and other eye-related disorders, represents one of the key factors positively influencing the market. In addition, the rising awareness among individuals about the benefits of early diagnosis and treatment of cataracts is catalyzing the demand for cataract surgical devices. Apart from this, technological advancements in ophthalmology, including laser-assisted in situ keratomileuses (LASIK) surgery and the development of advanced cataract surgical devices, such as forceps, speculum wire, Wescott scissors, and calipers, are contributing to the market growth. Besides this, the introduction of femtosecond laser technology is bolstering the market growth. Furthermore, governments of various countries are introducing attractive health schemes to financially support individuals with cataract problems, which, in turn, is offering lucrative growth opportunities to market players operating in the industry. Moreover, increasing investments by leading industry players in research and development (R&D) activities to come up with advanced and efficient cataract surgical devices are anticipated to drive the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global cataract surgical devices market report, along with forecasts at the global and regional levels from 2022-2027. Our report has categorized the market based on product type and end use.
Breakup by Product Type:
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IOLs currently represent the most popular product type on account of the rising traction and increasing adoption of foldable and advanced IOLs across the world.
Breakup by End Use:
Hospitals presently hold the majority of the global cataract surgical devices market share due to the significant development in the healthcare infrastructure and a considerable rise in advanced healthcare facilities.
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North America exhibits a clear dominance in the market due to the favorable reimbursement policies offered by insurance companies and increasing awareness among individuals in the region about ocular diseases.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Abbott Laboratories, Hoya Corporation, Carl Zeiss Meditec AG, Alcon Laboratories Inc., and Essilor International S.A.
This report provides a deep insight into the global cataract surgical devices market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cataract surgical devices industry in any manner.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Product Type, End-Use, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Abbott Laboratories, Hoya Corporation, Carl Zeiss Meditec AG, Alcon Laboratories Inc. and Essilor International S.A. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global cataract surgical devices market was valued at US$ 8.12 Billion in 2021.
We expect the global cataract surgical devices market to exhibit a CAGR of 4.48% during 2022-2027.
Various innovations in ophthalmology, such as laser-assisted technology, for providing safe surgical
procedures to restore patients’ vision, are currently catalyzing the global cataract surgical devices
market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of elective cataract
surgical procedures to reduce the risk of coronavirus infection upon hospital visits and interaction with
healthcare professionals or medical equipment, thereby limiting the demand for cataract surgical
devices.
Based on the product type, the global cataract surgical devices market has been segmented into
Ophthalmic Viscoelastic Devices (OVDs), Intraocular Lenses (IOLs), femtosecond laser,
phacoemulsification equipment, and others. Currently, Intraocular Lenses (IOLs) hold the majority of the
total market share.
Based on the end use, the global cataract surgical devices market can be categorized into hospitals, eye
care clinics, and eye treatment and surgical centers. Among these, hospitals currently account for the
largest market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global cataract surgical devices market include Abbott Laboratories,
Hoya Corporation, Carl Zeiss Meditec AG, Alcon Laboratories Inc., and Essilor International S.A.
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