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Global Cataract Surgical Devices Market to Reach US$ 10.66 Billion by 2027, Impelled by Rising Prevalence of Cataracts

Published on Apr 28, 2022

According to the recent report by IMARC Group, titled “Cataract Surgical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global cataract surgical devices market size reached US$ 8.12 Billion in 2021. Cataract refers to an eye-related condition that generally develops due to the formation of protein clumps in the eye. It causes clouding of the lens that eventually results in sensitivity to light, blurred or double vision, and difficulty seeing at night. Numerous surgical procedures to treat cataracts are widely performed, which involve the replacement of the defected lens with an artificial lens. Some of the common cataract surgical devices include beaver handle, caliper, speculum wire, wescott scissor, iris spatula, kuglen, sinskey hook and bechert nucleus rotator. Due to the rising number of cataract surgeries worldwide, there has been a considerable increase in the adoption of cataract surgical equipment across the healthcare industry. 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report

Global Cataract Surgical Devices Market Trends:

The global market is primarily driven by the rising prevalence of cataracts among the masses. This is supported by the increasing geriatric population and the high prevalence of eye injuries. Moreover, the extensive utilization of robots for performing cataract surgeries, along with the growing preference for eye-tracking technology and femtosecond lasers by healthcare professionals, is creating a positive market outlook. Additionally, various technological advancements in surgical procedures, including the widespread adoption of three-dimensional (3D) imaging techniques, are further propelling the market growth. Furthermore, several leading players are heavily investing in continuous innovations, such as the introduction of the silicon-based intraocular lens (IOL) that provides spectacle-free vision with improved optics. Apart from this, numerous initiatives undertaken by the government of several countries to offer financial assistance for the treatment of cataract is driving the demand for cataract surgical devices across the globe. Other factors, including continual improvements in the healthcare infrastructure, the expanding healthcare expenditure, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market. On account of the aforementioned factors,?the market is anticipated to reach a value of US$ 10.66?Billion by 2027, exhibiting a CAGR of 4.48% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Market Summary:

  • Based on the product type, the market has been segmented into ophthalmic viscoelastic devices (OVDs), intraocular lenses (IOLs), femtosecond laser, phacoemulsification equipment and others. Currently, intraocular lenses (IOLs) represent the majority of the total market share.
  • On the basis of the end-use, the market has been classified into hospitals, eye care clinics and eye treatment and surgical centers. Among these, hospitals currently represent the largest segment. 
  • Based on the region, the market has been divided into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Presently, North America holds the leading market position in the market. 
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.?Some of these players include Abbott Laboratories, Hoya Corporation, Carl Zeiss Meditec AG, Alcon Laboratories Inc. and Essilor International S.A.

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