Cataract Surgery Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Cataract Surgery Devices Market is segmented by Product Type (Intraocular Lenses, Phacoemulsification Equipment, Ophthalmic Viscoelastic Devices, Others), End-User and by Geography.

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.2 %

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Market Overview

The Cataract Surgery Devices Market is projected to grow with a CAGR of 4.2% over the forecast period. The growth rate of the market can be attributed to a cohort of factors, such as the growing prevalence of cataract cases and increasing geriatric population who are more prone to ophthalmologic diseases especially cataracts. According to Preventblindness.org, 2019, an estimated 38.5 million entities in the United States will have cataracts by 2032 and the average annual costs related to the treatment of cataracts in the United States is nearly USD 7 billion. With the increasing prevalence of the cataract cases the surgeries increase creating an enormous demand for the devices. For instance, according to LaserSurgeryHub.uk, approximately 330,000 cataract operations are performed each year in England alone. With this huge number of surgeries, the market growth is bound to increase globally. Furthermore, the technological advancements in ophthalmic devices are increasing the comfort levels of the doctors and the patients, having a positive impact on market growth.

Scope of the Report

As per the scope of the report, cataract is clouding of the lens of the eye which inhibits clear vision. Though most cases of cataract are associated with the aging process, sometimes children can be born with the condition, or a cataract may develop after eye injuries, inflammation, and some other eye diseases. The other major reason for the major share of the region is due to the increasing geriatric population.

By Product Type
Intraocular Lenses
Phacoemulsification Equipment
Ophthalmic Viscoelastic Devices
Others
By End-User
Ophthalmology Clinics
Hospitals
Others
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Phacoemulsification Equipment Segment is Dominating the Cataract Surgery Devices Market.

The dominant share of the Phacoemulsification Equipment is due to the surgeons and patients opting for them over the others due to the advantages. Phacoemulsification cataract surgery is a procedure in which an ultrasonic device is used to break up the cataract, from the eye to improve vision. The benefits of this surgery are that there is no need for hospitalization, smaller incision, no restriction on normal activities, etc. Apart from these advantages, the other factors propelling the segment growth are the increasing prevalence of cataracts and surgeries, increasing the adoption of these devices in Asian Countries like India and China, which are the fastest-growing in the market.

cataract

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to factors such as the high prevalence of cataract in the region, established healthcare infrastructure, high disposable income, favorable reimbursement policies. The National Institutes of Health (NIH) stated that around 50% of the population will acquire cataracts by the age of 80 years in America. As per the statistics the region is going to maintain its dominance in the market throughout the forecast period.

Cataract Surgery Devices Market - Growth Rate by Region

Competitive Landscape

The Cataract Surgery Devices Market is moderately competetive with several major palyers. Some of the major companies leading the market are Coburn Technologies Inc., Alcon Surgical Resources, Johnson & Johnson, NIDEK, Abbott, Ziemer Ophthalmic Systems, Carl Zeiss Meditech AG, Alcon, Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increase in Prevalence of Cataract Diseases and Increasing Geriatric Population

      2. 4.2.2 Technological Advancements in Ophthalmic Devices

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost Incurred for Cataract Surgeries

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Intraocular Lenses

      2. 5.1.2 Phacoemulsification Equipment

      3. 5.1.3 Ophthalmic Viscoelastic Devices

      4. 5.1.4 Others

    2. 5.2 By End-User

      1. 5.2.1 Ophthalmology Clinics

      2. 5.2.2 Hospitals

      3. 5.2.3 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Coburn Technologies Inc.

      2. 6.1.2 Alcon, Inc.

      3. 6.1.3 Johnson & Johnson

      4. 6.1.4 NIDEK

      5. 6.1.5 Abbott

      6. 6.1.6 Ziemer Ophthalmic Systems

      7. 6.1.7 Carl Zeiss Meditech AG

      8. 6.1.8 Essilor International S.A.

      9. 6.1.9 Bausch & Lomb, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Cataract Surgery Devices Market market is studied from 2018 - 2026.

The Cataract Surgery Devices Market is growing at a CAGR of 4.2% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Coburn Technologies Inc., Johnson & Johnson, NIDEK, Abbott, Alcon, Inc. are the major companies operating in Cataract Surgery Devices Market .

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