A cataract is a condition wherein clouding of the lens occurs resulting in decreased vision. Cataract surgery is the removal of the clouded natural lens and involves the implantation of the artificial or intraocular lens. Medical devices, such as intraocular lens, phacoemulsification systems, forceps, and balanced salt solution, which aid in cataract surgical procedures are known as cataract surgery devices. The cataract surgery devices are used for the treatment of cataracts, without causing any damage to the cornea. Cataract surgery is a low-risk procedure with an excellent record of safety and success. If the disease is detected at an earlier stage, surgery becomes important or else cataract will grow and lead to loss of vision.
An increase in the prevalence of cataract disease, growth in incidences of ocular disorders, as well as technological advancements in ophthalmic devices drives the market. In addition, the rise in geriatric population worldwide boosts the market growth. Lack of healthcare insurance and less awareness among individuals regarding the benefits of cataract surgery impede the growth of the cataract surgery devices market. However, the high cost associated with cataract surgeries especially in developing economies, such as India, China, Brazil, and South Africa also restrict the growth of the market. Moreover, governments introduce programs to reduce the burden of cataract-related diseases, which create lucrative opportunities for key market players.
The global cataract surgery devices market is segmented on the basis of product, type, end-user, and region. By product, the market is divided into the intraocular lens (IOL), ophthalmic viscoelastic device (OVD), and phacoemulsification equipment. By type, the market is classified into equipment and consumables. By end-user, the market is categorized into hospitals, ophthalmology clinics, and ambulatory surgery centers.
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
This report provides comprehensive competitive analysis and profiles of prominent market players such as Abbott Laboratories, Novartis AG, Carl Zeiss Meditec AG, Essilor International S.A., HAAG-Streit Holding AG, Johnson & Johnson, Nidek Co., Ltd., Topcon Corporation, Valeant Pharmaceuticals International, Inc., and Ziemer Ophthalmic Systems AG.
The other players in the value chain include HumanOptics AG, PhysIOL S.A., Calhoun Vision Cente, EyeKon Medical, Inc., Allergan Inc., VisionCare Ophthalmic Technologies, Inc., Essilor International S.A., Lenstec, Inc., STAAR Surgical Company, Glaukos Corporation, and Sonomed Escalon.
An increase in the prevalence of cataract disease, growth in incidences of ocular disorders, as well as technological advancements in ophthalmic devices drives the market. In addition, the rise in geriatric population worldwide boosts the market growth. Lack of healthcare insurance and less awareness among individuals regarding the benefits of cataract surgery impede the growth of the cataract surgery devices market. However, the high cost associated with cataract surgeries especially in developing economies, such as India, China, Brazil, and South Africa also restrict the growth of the market. Moreover, governments introduce programs to reduce the burden of cataract-related diseases, which create lucrative opportunities for key market players.
The global cataract surgery devices market is segmented on the basis of product, type, end-user, and region. By product, the market is divided into the intraocular lens (IOL), ophthalmic viscoelastic device (OVD), and phacoemulsification equipment. By type, the market is classified into equipment and consumables. By end-user, the market is categorized into hospitals, ophthalmology clinics, and ambulatory surgery centers.
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
This report provides comprehensive competitive analysis and profiles of prominent market players such as Abbott Laboratories, Novartis AG, Carl Zeiss Meditec AG, Essilor International S.A., HAAG-Streit Holding AG, Johnson & Johnson, Nidek Co., Ltd., Topcon Corporation, Valeant Pharmaceuticals International, Inc., and Ziemer Ophthalmic Systems AG.
The other players in the value chain include HumanOptics AG, PhysIOL S.A., Calhoun Vision Cente, EyeKon Medical, Inc., Allergan Inc., VisionCare Ophthalmic Technologies, Inc., Essilor International S.A., Lenstec, Inc., STAAR Surgical Company, Glaukos Corporation, and Sonomed Escalon.
Key Market Segments
By Product
- Intraocular Lens
- Phacoemulsification Equipment
- Ophthalmic Viscoelastic Device
By Type
- Equipments
- Consumbales
By End User
- Hospitals
- Opthalamic Clinics
- Research Institutes
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Carl Zeiss Meditec AG
- Johnson and Johnson
- Essilor International S.A
- Nidek Co Ltd
- Topocon
- Bausch Lomb
- Alcon Inc
- STAAR Surgical Company
- HAAG Streit Holding
- Ziemer Ophthalmic Systems AG.
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CATARACT SURGERY DEVICES MARKET, BY PRODUCT
CHAPTER 5: CATARACT SURGERY DEVICES MARKET, BY TYPE
CHAPTER 6: CATARACT SURGERY DEVICES MARKET, BY END USER
CHAPTER 7: CATARACT SURGERY DEVICES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
The Cataract Surgery Devices Market size was valued at $8.3 billion in 2020, and is estimated to reach $12.2 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.A cataract is an eye-related disease in which clouding of the eye lens is observed that leads to impaired vision. Cataract surgery is the removal of the clouded natural lens and involves the implantation of an intraocular lens. The devices and instruments such as phacoemulsification systems, ophthalmic viscoelastic devices, drapes, gloves, balanced salt solution, forceps, irrigation set, and intraocular lenses among others, which aid in this cataract surgical procedure, are known as cataract surgery devices, as these serve as an appropriate instrument for such eye defects and cause no harm to the cornea.
The Cataract Surgery Devices Market trends are the rise in the prevalence of ocular disorders, technological progression in healthcare such as the use of lasers along with computer-controlled optical delivery systems which enable precise incisions without any damage to the surrounding tissues, and growth in the emerging economies. Moreover, product innovation and evolution by new entrants are expected to impel market growth. Furthermore, growth in incidences of diseases such as diabetes, obesity, and hypertension has positively propelled the Cataract Surgery Devices Market growth. However, the dearth of skilled professionals and lack of awareness regarding cataract disorders especially in developing economies restrain the market growth. Moreover, an increase in R&D expenditure for developing efficient cataract surgery devices is the key factor anticipated to boost the growth of the market.
The Cataract Surgery Industry is segmented on the basis of product, type, end-user, and region. By product, the market is divided into the intraocular lens (IOL), ophthalmic viscoelastic device (OVD), and phacoemulsification equipment. By type, the market is classified into equipment and consumables. By end-user, the market is categorized into hospitals, ophthalmology clinics, and ambulatory surgery centers.
By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By product, the market is divided into the intraocular lens (IOL), ophthalmic viscoelastic device (OVD), and phacoemulsification equipment. The intraocular lens (IOL) segment holds the largest market share. Owing to the adoption of foldable IOLs and advanced IOLs in emerging countries such as China and India is at a growing stage due to factors such as reduced access to health care resources and differences in income levels between urban and rural areas. The use of femtosecond lasers has ensured high efficiency without any collateral tissue damages. The use of these lasers along with computer-controlled optical delivery systems has led to precise incisions without any damage to the surrounding tissues.
By type, the market is classified into equipment and consumables. The consumables segment presently dominates the market and is expected to remain dominant during the forecast period. This segment is expected to exhibit a prominent growth rate owing to a rise in the prevalence of ocular disorders and technological progression in healthcare such as the use of lasers along with computer-controlled optical delivery systems
By end-user, the market is categorized into hospitals, ophthalmology clinics, and ambulatory surgery centers. The hospital's segment presently dominates the market and is expected to remain dominant during the forecast period. This segment is expected to exhibit a prominent growth rate, owing to an increase in the prevalence of individuals suffering from cataracts, the rising geriatric population, and growing awareness amongst the population concerning the benefits of cataract surgery.
By region, the cataract surgery devices market is analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America has the largest Cataract Surgery Devices Market share t in 2020 and is anticipated to maintain this trend throughout the forecast period. Owing to the rise in the prevalence of cataracts in the region, established healthcare infrastructure, high disposable income, favorable reimbursement policies. are anticipated to drive the market growth.
Key findings of the Study
- By product, the Intraocular Lensequipment was the highest contributor to the market in 2020.
- By type, the consumables segment type has dominated the market in 2020.
- On the basis of end-user, hospitals dominated the market in 2020 and are expected to continue this trend during the forecast period.
- Region-wise, North America garnered the largest revenue share in 2020; however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Companies Mentioned
- Carl Zeiss Meditec AG
- Johnson and Johnson
- Essilor International S.A
- Nidek Co Ltd
- Topocon
- Bausch Lomb
- Alcon Inc
- STAAR Surgical Company
- HAAG Streit Holding
- Ziemer Ophthalmic Systems AG.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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