Global Cataract Surgical Devices Market to Reach US$ 12.4 Billion by 2032, Impelled by Rising Prevalence of Cataracts

April 28, 2022 | Healthcare

According to the recent report by IMARC Group, titled “Cataract Surgical Devices Market Report by Product Type (Ophthalmic viscoelastic devices (OVDs), Intraocular lenses (IOLs), Femtosecond laser, Phacoemulsification equipment, and Others), End-Use (Hospitals, Eye care clinics, Eye Treatment and Surgical Centres), and Region 2024-2032,” the global cataract surgical devices market size reached US$ 8.9 Billion in 2023. 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. 

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$ 12.4 Billion by 2032, exhibiting a CAGR of 3.7% during 2024-2032.

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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)

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Cataract Surgical Devices Market to Reach US$ 12.4 Billion by 2032, Impelled by Rising Prevalence of Cataracts
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