Cataract Surgery Device Market Analysis Global Industry Share, Growth Boosted By Demand and Advanced Technology till 2022

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 Cataract Surgery device market Information, by Device Type (Intraocular lens (IOL), Ophthalmic Viscoelastic Device (OVD), Phacoemulsification Equipment and Femtosecond Laser Equipment) by End-Users (Ophthalmology Centers, Hospitals, Clinics) – Forecast to 2022

The “cataract surgery device market Share to achieve a CAGR of ~5.5% during the forecast period (2016-2022). It could reach the valuation of USD 4.5 billion by 2022.”

High prevalence of cataract disease the world over coupled with technological advancements in ophthalmic devices favor market growth. The expansion of market size is also the result of healthcare insurance in various regions and mounting awareness regarding the benefits of cataract surgery.

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The global market also benefits from the expanding geriatric population combined with the rising prevalence of cataract disorders. Boost in research and development (R&D) expenditure to accelerate the efficiency of cataract surgery devices, like MiLoop cataract device by IanTech are bound to present lucrative opportunities to the key market players in the subsequent years.

The World Health Organization (WHO) reveals that unoperated is one of the leading causes of visual impairment, having accounted for almost 33% of the worldwide population in 2014. It adds that about 90% of the total population of visually impaired are in developing economies. These growing numbers clearly indicate the increasing demand for the cataract surgery market.

Significant Companies

Significant contributors to the cataract surgery device market are,

  • STAAR Surgical Company (U.S.)
  • Alcon Inc. (U.S)
  • Allergan Inc. (U.S.)
  • Abbott Laboratories (U.S.)
  • NIDEK Co. Ltd. (Japan)
  • Bausch & Lomb Inc. (U.S.)
  • Essilor International S.A. (France)
  • Carl Zeiss Meditech AG (Germany)
  • Opcon Corporation (Japan)

ALSO READ https://www.medgadget.com/2020/07/cataract-surgery-devices-market-driven-by-growing-geriatric-population-global-industry-size-share-trends-covid19-impact-analysis-to-forecast-by-2022.html

Having said that, the future market growth rate could slow down on account of the high cost associated with cataract surgeries, particularly in emerging developing nations like India, Brazil, South Africa, and China. Despite that, the overall market could expect a straightforward growth in the near future, as governments are coming up with programs to reduce the number of cataract-related cases, serving a host of opportunities for prominent vendors.

Key Finding

  • The cataract surgery device global market is expected to reach $4.5 billion by 2022.
  • Intraocular lens (IOL) holds the largest share of 79% of the cataract surgery device market.
  • North America holds the largest market share of around 46% of cataract surgery device.
  • Asia Pacific is expected to be the fastest growing market at a CAGR of 5.5%

Market Segmentation

The worldwide market for cataract surgery device has been segmented on the basis of device type and end-user.

The device types mentioned in the report are intraocular lens (IOL), ophthalmic viscoelastic device (OVD), phacoemulsification equipment, and femtosecond laser equipment. Intraocular lens (IOL) segment covers the most significant share of 79% in the cataract surgery device market.

Depending on end-user, the market is segmented into ophthalmology centers, hospitals, clinics, and others.

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Regional Insight

Asia Pacific, North America, Europe, and Middle East and Africa are the key markets for cataract surgery device Following an analysis of the latest trends

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