Cataract is an eye-related disease in which clouding of the eye lens is witnessed that leads to loss of vision. Cataract surgery is the removal of clouded natural lens, and involves implantation of intraocular lens. Cataract surgery devices are used during this procedure, as these serve as an appropriate instrument for such eye defects and cause no harm to cornea. As per WHO, cataract is a highly prevalent eye disease and is responsible for 51% of the worlds blindness. Moreover, according to Vision Council, around 76.2% adults in the U.S. underwent vision correction surgery in 2015, and approximately 22.1% of the adults expressed that they need vision correction. These factors contribute to the growth of the global cataract surgery devices market.
The factors that drive the growth of global cataract surgery device market are increase in prevalence of cataract disease worldwide, technological advancements in ophthalmic devices, and rise in the geriatric population. However, lack of healthcare insurance and low awareness among people towards eye-related disorders & their treatments restrain the market growth. Initiatives taken by government towards improving healthcare facilities is anticipated to provide lucrative growth opportunities to the market. For instance, in 2011, Lions Clubs International Foundation (LCIF) in partnership with Peoples Republic of China initiated a new phase of their campaign in China known as SightFirst China Action (SFCA), which aims at preventing blindness.
The report segments the market based on product type, end user, and geography. In terms of product, the market is categorized into intraocular lens (IOL), ophthalmic viscoelastic device (OVD), phacoemulsification equipment, and femtosecond laser equipment. The IOL segment is further divided into monofocal intraocular lens, premium intraocular lens, foldable intraocular lens, blue light filtering intraocular lens, aspheric intraocular lens, and phakic intraocular lens. The OVD segment is subsegmented into cohesive OVD and dispersive OVD. By end user, the market is categorized into hospitals, ophthalmology clinics, private eye clinics, and ambulatory surgery centers. Geographic breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
The key players of the market are focusing on development and approvals of novel and wide range of lenses that can be implanted when a person undergoes cataract surgery. For instance, in March 2017, Alcon Inc. received approval for its AcrySof IQ ReSTOR +2.5 Multifocal Toric intraocular lens (IOL), which gives astigmatic cataract patients quality distance vision and reduces dependence on glasses.
The major players operating in the market include Alcon, Inc. (division of Novartis AG), Johnson & Johnson, Abbott Laboratories, EyeKon Medical, Inc., Allergan Inc., VisionCare Ophthalmic Technologies, Inc., Essilor International S.A., Bausch & Lomb, Inc., Nidek Co. Ltd., and Ziemer Ophthalmic Systems AG. The other players in the market include Topcon Corporation, Carl Zeiss Meditec AG, HumanOptics AG, PhysIOL S.A., Calhoun Vision Cente, Valeant Pharmaceuticals International Inc., Lenstec, Inc., STAAR Surgical Company, Glaukos Corporation, and Sonomed Escalon.
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global cataract surgery device market.
- In-depth analysis has been done in this report by constructing market estimations for the key market segments between 2016 and 2023.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Key market players within the cataract surgery device market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the market.
Cataract Surgery Device Market Key Segments:
By Product Type
- Intraocular lens (IOL)
- Monofocal Intraocular Lens
- Premium Intraocular Lens
- Foldable Intraocular Lens
- Blue Light Filtering Intraocular Lens
- Aspheric Intraocular Lens
- Phakic Intraocular Lens
- Ophthalmic Viscoelastic Device (OVD)
- Cohesive OVD
- Dispersive OVD
- Phacoemulsification Equipment
- Femtosecond Laser Equipment
By End User
- Ophthalmology Clinics
- Private Eye Clinics
- Ambulatory Surgery Centers
- North America
- Rest of Europe
- New Zealand
- Rest of APAC
- South Africa
- South Arabia
- Rest of LAMEA