Cataract Surgery Device Market 2020- Industry Trends, Global Analysis, Comprehensive Growth, Research Updates and Forecast to 2023

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Cataract Surgery Device Market

Cataract surgery is necessary to replace the lens inside your eye with an artificial lens. Corrective vision surgeries are gaining traction due to the current lifestyles of customers. Cataract surgery devices are used by ophthalmologists to restore the vision of the eye. The global cataract surgery device market report by Market Research Future (MRFR) highlights the developments around the surgical technique as well as several factors and challenges to be faced by key market leaders for the period of 2017 to 2023 (forecast period).

Cataract Surgery Device Market Scope

The global cataract surgery device market is expected to accumulate revenues during the forecast period due to large reported cases of the medical condition. It can touch a value of USD 4.5 billion by 2022.

The global cataract surgery devices market is driven by the growing demand for cataract surgery in developing countries. In countries like India, China, and Japan, where the healthcare sector has still not caught up with the high volume of unmet demand in rural regions, there is significant scope for the market demand. Growing awareness of ophthalmologists, eye diseases, and awareness among the populace has led to immense demand from the cataract surgery devices market. Minimally invasive procedures and their demand will have a major influence on the market in the coming years.

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The growing demand for robotic cataract surgery devices and government initiatives to promote developments in eye surgery can spur the global cataract surgery device market growth. Adoption of new techniques and improvements in diagnostic techniques can induce market demand. But complications during surgeries may impede market growth.

Cataract Surgery Device Market Segmentation

The global cataract surgery device market is segmented by device type which comprises phacoemulsification equipment, intraocular lens (IOL), ophthalmic viscoelastic device (OVD), and femtosecond laser equipment. The IOL segment held a share of 79% in the global cataract surgery device market. Intraocular lenses are used to replace the eye’s natural lens during surgery. They are also used in refractive lens exchange. Various types of IOLs are manufactured according to vision correction problems. On the other hand, the ophthalmic viscoelastic device segment

By end user, the market is segmented into ophthalmology centers, hospitals, clinics and others.

Cataract Surgery Device Market Regional Analysis

The Americas, the Middle East Africa (MEA), Asia Pacific (APAC), and Europe are major regions covered in the global hemifacial spasm market report.

North America is expected to remain dominant in the global cataract surgery devices over the forecast period, while APAC is expected to exhibit the fastest growth of all in the coming years. North America has many leading players operating in the region leading to easy availability of the latest tech in cataract surgery devices. It can exhibit a CAGR of 4.9% during the forecast period. The APAC region can grow at an agile pace during the forecast period owing to the large geriatric populace and high awareness levels. On the flip side, Europe is expected to exhibit a strong CAGR of 5.2% over the forecast period.

Competitive Outlook

STAAR Surgical Company, NIDEK Co., Ltd., Opcon Corporation, Allergan, Inc., Alcon, Inc., Essilor International S.A., Carl Zeiss Meditech AG, Bausch & Lomb, Inc., and Abbott Laboratories are prominent players of the global cataract surgery device market.

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