According to the new market research report by IMARC Group, the global cataract surgical devices market size reached US$ 8.12 Billion in 2021. Looking forward, the market expected to reach US$ 10.66 Billion by 2027, exhibiting at a CAGR of 4.48% during 2022-2027.
Cataract refers to a medical condition represented by the clouding of the natural eye lens, which lies behind the iris and pupil. The condition may lead to vision loss, particularly among people above the age of 40 years. Cataract is usually treated with surgical procedures wherein the surgeon removes the clouded lens and replaces it with an artificial one.
We are constantly tracing and assessing the impact of the COVID-19 pandemic on the industry. These influences have been covered in our report as significant market contributors.
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Cataract Surgical Devices Market Trends / Drivers, restraints, and opportunities-
The high prevalence of cataracts, along with the growing consumer awareness towards the wide availability of numerous treatment procedures, is augmenting the market growth. Additionally, the increasing success rate of cataract surgeries, particularly for restoring vision, is also propelling the global market.
Additionally, continuous advancements in the field of ophthalmology are further catalyzing the market for cataract surgical devices. In the coming years, the introduction of innovative laser-based solutions, along with the growing popularity of minimally-invasive surgical procedures, will continue to drive the market growth.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being
- Abbott Laboratories,
- Hoya Corporation,
- Carl Zeiss Meditec AG,
- Alcon Laboratories Inc.,
- Essilor International S.A.
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The report provides detailed segmentation of the global cataract surgical devices market based on product type, material, price, distribution channel, end user and region.
Market Breakup by Product Type:
- Ophthalmic viscoelastic devices (OVDs)
- Intraocular lenses (IOLs)
- Femtosecond laser
- Phacoemulsification equipment
Market Breakup by End Use:
- Eye care clinics
- Eye treatment and surgical centers
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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