The global cataract surgery devices market is expected to exhibit a strong 5.5% CAGR over the forecast period from 2016 to 2022, according to the latest research report from Market Research Future (MRFR). The global cataract surgery devices market is mainly driven by the growing awareness about cataract surgeries and the growing demand for cataract surgery devices in emerging countries. The growing prospects of the global cataract surgery devices market are examined in detail in the report with the help of statistical profiling of the market’s historical growth trajectory and present station. Historical figures illustrating the development of the cataract surgery devices market are provided in the report to give credible information about the market’s historical development. Accurate projections are also made regarding the likely future trajectory of the global cataract surgery devices market.
The global cataract surgery devices market is mainly driven by the growing demand for cataract surgery devices 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 cataract surgery devices market in the coming years. Growing awareness about ophthalmic problems and diseases has led to a growing demand from the cataract surgery devices market in the region. While the prevalence of ophthalmic diseases in these regions has always been on par with other, more developed economies, the newfound availability of advanced healthcare resources in these regions has changed the game for the healthcare and medical devices industries, as people now have the option to fix their longstanding medical issues. This has allowed for steady growth of the medical devices industry in Asia Pacific and other developing regions in the last few years.
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The growing demand for robotic cataract surgery devices is likely to be a major driver for the global cataract surgery devices market over the forecast period. Robotic surgical tools have become all the rage in the medical devices industry over the last few years, as they can perform even the most delicate of operations with consummate ease. Their lack of human emotions makes them an inherently better tool for surgical processes than human surgeons, which has driven their demand in the medical devices industry.
Competitive Analysis:
Leading players in the global cataract surgery devices market include Alcon Inc., Abbott Laboratories, Carl Zeiss Meditech AG, Essilor International S.A., Opcon Corporation, Allergan Inc., Bausch & Lomb Inc., NIDEK Co. Ltd., STAAR Surgical Company, and others.
In September 2019, ophthalmic surgery device manufacturer Keranova raised USD 26.5 million in a second financing round. The funding is expected to be channeled into the development of a robot-assisted laser platform for cataract surgeries. This is likely to be a major trend in the coming years, with leading players focusing on either developing or acquiring robotic capabilities.
Segmentation:
The global cataract surgery device market is segmented on the basis of device type, end use, and region.
By device type, the global cataract surgery device market is segmented into intraocular lenses, ophthalmic viscoelastic devices, phacoemulsification equipment, and femtosecond laser equipment.
By end use, the global cataract surgery device market is segmented into ophthalmology centers, hospitals, clinics, and others.
Regional Analysis:
North America is expected to remain the largest regional market for cataract surgery devices over the forecast period, while Asia Pacific is expected to exhibit the fastest growth of all in the coming years. The North America market is a matured market for cataract surgery devices market, with many leading players operating in the region, leading to easy availability of the latest tech in cataract surgery devices. As a result, developments in robotic technology are likely to happen in North America in the coming years, with many leading medical device manufacturers in the region focusing on the development of robotic surgery tools.
Europe is also a major regional market for cataract surgery devices and is expected to exhibit a strong CAGR of 5.2% over the forecast period.
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