A recent report published by Infinium Global Research on the cataract surgery devices market provides an in-depth analysis of segments and sub-segments in the global as well as regional cataract surgery devices market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cataract surgery devices market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global cataract surgery devices market. According to the report, the global cataract surgery devices market is projected to grow at a CAGR of 5.1% over the forecast period of 2019-2025.
Cataract surgery is a procedure for the removal of the eye lens and replaces it with an artificial lens. A cataract is a medical situation that causes opaque vision. Although many cases of cataract are related to the aging process, it can also occur in newborn children, or a cataract may develop after eye injuries, inflammation, and some other eye diseases. Cataract surgery can be done by ultrasound energy to take out the cloudy lens or by laser-assisted technology. Owing to the safe treatment procedures with advanced devices rate of cataract surgery has increased with a significant rate in the last decade.
The rising number of geriatric population and the increasing cases of ocular conditions is one of the major factor driving the growth of the market. According to WHO cataract is responsible for 51 percent of world blindness, which represents about 20 million people in 2010. Moreover, initiatives are taken by WHO to eliminate the barriers to access eye care, to provide guidance and technical support of the development of comprehensive eye care systems to address the burden of cataract and other chronic eye diseases boosting the growth of cataract surgery devices market. On the other hand, the high cost associated with the surgical devices and the cost of surgery can hamper the growth of the market. However, the rising need for cataract surgery due to the prevalence of cataracts globally will provide a better opportunity for the market.
Based on the region the cataract surgery devices market is divided into North America, Europe, Asia-Pacific, and RoW. North America holds a large share market and estimated to lead the segment in the forecast period. Well established healthcare facilities, rise in per capita expenditure on healthcare and the presence of major market players contributing to the growth of the market. Europe is expected to stay in second position in the global market. Advanced healthcare facilities and growing awareness about ocular conditions are some factors contributing to the growth of the market in this region. The market in the Asia Pacific is expected to grow with a lucrative rate, a large patient pool with eye-related disorders, growing healthcare industries and rising awareness among the people is contributing to the growth of the market.
The report on the global cataract surgery devices market covers segments such as product, and end user. On the basis of product, the sub-markets include an ophthalmic viscoelastic device, phacoemulsification equipment, femtosecond laser equipment, and intraocular lens. On the basis of end user, the sub-markets include hospitals, ophthalmology clinics, and ambulatory surgery centers.
The report provides profiles of the companies in the market such as Abbott Laboratories, Hoya Corporation, Carl Zeiss Meditec AG, Alcon Laboratories, Inc., Essilor International S.A, Novartis AG, Haag-Streit Holding AG, Johnson & Johnson, NIDEK Co Ltd, Topcon Corporation, and Other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of cataract surgery devices market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.