The global cataract surgical devices market has witnessed a steady growth over the years. This can be accredited to the availability of a wide range of modern and innovative ophthalmic devices coupled with an ageing population.
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The latest report by IMARC Group, titled “Cataract Surgical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global cataract surgical devices market reached a value of nearly US$ 7 Billion in 2016. Cataract is an eye disease in which things appear blurry, hazy or less colourful, resulting in cloudy or opaque vision. It can be caused due to ageing, diabetes, smoking, trauma or prolonged exposure to sunlight. Cataract can be removed using certain surgical instruments and devices, such as ophthalmic viscoelastic devices, drapes, gloves, balanced salt solution, forceps, irrigation set, and intraocular lenses. These devices are safe and help in effectively restoring vision to the eye.
Highlights of the global cataract surgical devices market:
- Rapid increase in the prevalence of ocular disorders is the key factor driving the growth of the market.
- Intraocular lenses are the most popular product type, holding the largest share.
- North America represents the largest market, accounting for the majority of the global share.
A rise in the geriatric population worldwide in confluence with growing prevalence of ocular diseases and technological advancements in the healthcare sector represent the major factors influencing the cataract surgical devices market. On the other hand, a lack of awareness among the individuals regarding the benefits of cataract surgeries along with low healthcare insurance coverage impede the growth of the cataract surgical devices market in the emerging regions. However, the governments of numerous countries are introducing healthcare programmes to reduce the burden of cataract-related diseases on the patients, further creating profitable opportunities for the manufacturers. Owing to these factors, the global cataract surgical devices market is further expected to reach a value of around US$ 9 Billion by 2022, exhibiting a CAGR of nearly 4% during 2017-2022.
The market is segmented on the basis of product type into Intraocular Lenses (IOLs), femtosecond laser, Ophthalmic Viscoelastic Devices (OVDs), phacoemulsification equipment and others. Currently, IOLs represent the most popular product type, accounting for the majority of the market share. On the basis of application, the market is segregated in hospitals, eye care clinics, and eye treatment and surgical centres, wherein hospital accounts for the largest share. On a regional basis, North America currently accounts for the largest share. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa. On evaluating the competitive landscape of the market, it is found that the global players are Abbott Laboratories, Hoya Corporation, Carl Zeiss Meditec, Alcon Laboratories, Inc., and Essilor.
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The report by IMARC Group has examined the global cataract surgical devices market on the basis of:
- Intraocular Lenses (IOLs)
- Femtosecond laser
- Ophthalmic Viscoelastic Devices (OVDs)
- Phacoemulsification Equipment
- Eye Care Clinics
- Eye Treatment and Surgical Centres
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Abbott Laboratories
- Hoya Corporation
- Carl Zeiss Meditec
- Alcon Laboratories, Inc
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