Cataract Surgery Device Market Outlook
The global cataract surgery device market is due to reach USD 4.5 Bn at a CAGR of 5.5% over the forecast period of 2016-2022, projects market Research Future (MRFR) in a detailed study.
cataract surgery device is growing steadily. Factors that influence the cataract surgery device market are increasing prevalence of cataract surgery, increasing advance technology in cataract surgery device market, increase in the aging population, prevalence of eye disease and many others.
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Cataract Surgery Device Market Growth Analysis 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
Key Players for Cataract Surgery device Market:
Some of the key players in this market are:
- Alcon Inc. (U.S)
- Abbott Laboratories (U.S.)
- Carl Zeiss Meditech AG (Germany)
- Essilor International S.A. (France)
- Opcon Corporation (Japan)
- Allergan Inc. (U.S.)
- Bausch & Lomb Inc. (U.S.)
- NIDEK Co. Ltd. (Japan)
- STAAR Surgical Company (U.S.) and others.
Cataract Surgery Device Market Segmentation
The global cataract surgery device market has been segmented on the basis of type and end user.
On the basis of type, the global cataract surgery device market has been segmented into intraocular lens (IOL), phacoemulsification equipment, ophthalmic viscoelastic device (OVD), and femtosecond laser equipment.
On the basis of end user, the global cataract surgery device market has been segmented into ophthalmology centers, hospitals, clinics, and others.
Study objectives of the Market:
- Providing detail analysis of the market structure along with forecast for the next 7 years of various segments and sub-segments of the Cataract Surgery device market.
- Giving insights about factors affecting the market growth.
- Analyzing the market based on various factors- price analysis, supply chain analysis, Porters Five Force analysis etc.
- Giving the past revenue and predicted future revenue of the market segments and sub-segments with respect to the main market and various markets globally.
- Giving regional level analysis of the market with respect to the current market size and future prospective.
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Geographically, the global Cataract Surgery Device market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest share of 46% of the global market. Presence of a high number of visually impaired population, increased access to healthcare, high expenditure on healthcare services drive the market in North America. Also, the region tends to swiftly adopt new advanced technologies which further boosts the growth of the cataract surgery devices market in North America.
Europe is the second largest market and is expected to grow at a CAGR of 5.2% over the forecast period.
Asia Pacific is expected to be the fastest growing market for cataract surgery devices while Latin America and the Middle East & Africa markets are expected to exhibit limited growth over the forecast period.
Substantial investment by medical devices manufactures ON R&D has resulted in the advancement of medical devices and sophisticated medical, surgical techniques such as laser technology and advanced technology lens which is expected to impact the market growth positively.
Expanding the scope of medical service offerings is expected to drive new revenue opportunities for the global cataract surgery device market. The rise in a number of FDA approvals for innovative therapies and devices for cataract surgery is also expected to create a supportive platform for the growth of the market over the forecast period.
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