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Global Cataract Surgical Devices Market Size, Trends, Growth, Research: By Product Type: Ophthalmic Viscoelastic Devices, Intraocular Lenses, Femtosecond Laser, Phacoemulsification Equipment, Others; By End-Use: Ophthalmology Clinics, Hospitals: Regional Analysis; Competitive Landscape: Industry Events and Developments; 2023-2028
Global Cataract Surgical Devices Market Outlook
The global cataract surgical devices market size stood at a value of around USD 8.36 billion in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 4.20% to reach USD 10.7 billion by 2027.
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Various Advantages of Using Intraocular Lenses is Driving the Global Cataract Surgical Devices Industry
Intraocular lenses are artificial lenses which are engineered with high precision as an implant in cataract surgeries. The intraocular lens is permanently fixed inside the eye because of which, it does not require cleaning and it cannot fall out of the eye. One of the crucial advantages of these lenses is that the patient feels no sensation or irritation. This bolsters the comfort of the geriatric patients during the cataract treatment process. Moreover, these lenses improve the patient’s vision and can be customised for ocular needs.
Over the forecast period, foldable intraocular lenses are anticipated to witness a high demand owing to the small incision requirement during the lens fixation process. Furthermore, the rapid development of multifocal intraocular lenses is likely to aid the segment in the coming years.
The Asia Pacific Region to Account for a Significant Share in the Cataract Surgical Devices Market
The market in the Asia Pacific region is being driven by the increasing cases of cataract disorders owing to the increasing geriatric populations in China and Japan. According to a report by the National Library of Medicine, the prevalence of cataract disorders among the geriatrics in China alone, stood at around 27.45%.
The favourable reimbursement policies of the governments of emerging nations such as India, couped with the advancements in the healthcare infrastructure are anticipated to accelerate the market growth in the coming years. Furthermore, the market in the region is likely to be positively navigated by the rising healthcare awareness and increasing disposable income.
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Market Segmentation
Cataract is an eye disorder in which the eye lens develops cloudy patches, restraining people from seeing things clearly. Cataract surgical devices refer to the devices which are used to remove cataracts from the eye in order to prevent permanent loss of vision, bleeding of eye, infection, and swelling of the retina.
Based on product type, the cataract surgical devices market can be segmented into:
- Ophthalmic Viscoelastic Devices
- Intraocular Lenses
- Femtosecond Laser
- Phacoemulsification Equipment
- Others
By end-use, the market has been bifurcated into:
- Ophthalmology Clinics
- Hospitals
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Prevalence of Age-Related Cataract to Boost the Growth of the Cataract Surgical Devices Industry
The rising demand for the cataract surgical devices market is owing to the increasing prevalence of age-related cataracts. According to a report by WHO, around 94 million people worldwide suffer from severe distance vision impairment or visual loss due to cataract. Over the forecast period, the growing risk of cataract among the millennials due to excessive smoking, increasing alcohol consumption, and prolonged exposure to sun is anticipated to propel the demand.
Moreover, some of the key market forces fuelling demand include rising healthcare expenditure, increasing geriatric population, and rapid development of eye hospitals in the emerging economies. There are growing research and development activities and technological advancements in the eye-care centres. Coupled with favourable policies of the government aimed towards reducing the burden of cataract related diseases, these factors are anticipated to boost the market growth in the coming years.
Key Players in the Global Cataract Surgical Devices Market
The report gives a detailed analysis of the following key players in the global cataract surgical devices market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Topcon Corporation
- Hoya Medical Singapore Pte. Ltd
- Carl Zeiss Meditec AG
- Alcon Inc.
- Johnson & Johnson Vision Care, Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by End-Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Application
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Cataract Surgical Devices Market Analysis
8.1 Key Industry Highlights
8.2 Global Cataract Surgical Devices Historical Market (2018-2022)
8.3 Global Cataract Surgical Devices Market Forecast (2023-2028)
8.4 Global Cataract Surgical Devices Market by Product Type
8.4.1 Ophthalmic Viscoelastic Devices
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Intraocular Lenses
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Femtosecond Laser
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Phacoemulsification Equipment
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Others
8.5 Global Cataract Surgical Devices Market by End-Use
8.5.1 Ophthalmology Clinics
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Hospitals
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Cataract Surgical Devices Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Topcon Corporation
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Hoya Medical Singapore Pte. Ltd
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Carl Zeiss Meditec AG
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Alcon Inc.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Johnson & Johnson Vision Care, Inc.
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
13 Industry Events and Developments
List of Key Figures and Tables
1. Global Cataract Surgical Devices Market: Key Industry Highlights, 2018 and 2028
2. Global Cataract Surgical Devices Historical Market: Breakup by Product Type (USD Million), 2018-2022
3. Global Cataract Surgical Devices Market Forecast: Breakup by Product Type (USD Million), 2023-2028
4. Global Cataract Surgical Devices Historical Market: Breakup by End User (USD Million), 2018-2022
5. Global Cataract Surgical Devices Market Forecast: Breakup by End User (USD Million), 2023-2028
6. Global Cataract Surgical Devices Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Cataract Surgical Devices Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Cataract Surgical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Cataract Surgical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Cataract Surgical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Cataract Surgical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Cataract Surgical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Cataract Surgical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Cataract Surgical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Cataract Surgical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Cataract Surgical Devices Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Cataract Surgical Devices Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Cataract Surgical Devices Market Structure
Key Questions Answered in the Report
In 2021, the global market size was estimated to have attained a value of nearly USD 8.36 million.
The projected growth rate of the global market over a forecast period of between 2023 and 2028 is a CAGR of 4.20%.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach a valuation of USD 10.7 billion by 2027.
The major regions in the industry identified by the EMR report are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major drivers of the market include the increasing prevalence of cataract disorder, rising geriatric population, and rapid development of ophthalmology clinics in the emerging economies.
The favourable reimbursement policies of the government and growing innovations to reduce the burden of cataract-related disorders are likely to be the key trends expected to have an impact on the global market.
Ophthalmic viscoelastic devices, intraocular lenses, femtosecond laser, and phacoemulsification equipment are the are the different materials based on which the market has been segmented.
Ophthalmology clinics and hospitals is the segmentation of market based on end-use.
The major players in the industry are Topcon Corporation, Hoya Medical Singapore Pte. Ltd, Carl Zeiss Meditec AG, Alcon Inc., and Johnson & Johnson Vision Care, Inc., among others.
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