The Cataract Surgery Devices And Equipment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Cataract Surgery Devices And Equipment Global Market Report 2024, The cataract surgery devices and equipment market size has grown rapidly in recent years. It will grow from $7.46 billion in 2023 to $8.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to aging population demographics, increasing incidence of cataracts, rise in patient awareness, government initiatives for vision care, increasing healthcare expenditure.
The cataract surgery devices and equipment market size is expected to see strong growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing focus on outpatient surgery, customized intraocular lenses, value-based healthcare models, global vision care campaigns, global initiatives for eye health. Major trends in the forecast period include integration of artificial intelligence (ai), teleophthalmology and remote consultations, rapid technological innovations, improvements in intraocular lens technology, technological advancements in surgical techniques, femtosecond laser technology.
The rising geriatric population is expected to propel the growth of the cataract surgery devices and equipment market in the future. The geriatric population refers to people aged 65 and over. The rising elderly population are more prone to developing cataracts as they age, which is boosting the demand for cataract surgery devices due to the associated vision impairment. Consequently, the growing geriatric demographic has led to an increased need for cataract surgery procedures and related devices. For instance, according to the 2021 American Community Survey conducted by The United States Census Bureau, a US-based government agency, there were 55,892,014 people aged 65 and over in the U.S. out of a total population of 331,893,745, which represents 16.8% of the population. Therefore, the rising geriatric population is driving the growth of the cataract surgery devices and equipment market.
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The cataract surgery devices and equipment market covered in this report is segmented –
1) By Type: Intraocular Lens (IOL), Ophthalmic viscoelastic device (OVD), Phacoemulsification Equipment, Femtosecond Laser Equipment
2) By Surgery Type: Extracapsular Cataract Extraction, Phacoemulsification, Femtosecond Laser, Other Surgery Types
3) By Application: Ophthalmology Centers, Hospitals, Clinics
Major companies operating in the cataract surgery devices and equipment market are developing innovative products such as VERITAS Vision System to improve surgical accuracy and outcomes. VERITAS Vision System is a next-generation phacoemulsification system, designed to address patient safety, surgeon efficiency, and comfort. For instance, in July 2021, Johnson & Johnson Vision, a US-based ophthalmology company launched the Veritas Vision System by using hybrid fluidics technology and White star technology combined with elliptical tip movement for ultra-smooth cutting and a dual linear fluidic system for improved control. The system is designed to facilitate anterior segment (i.e., cataract) ophthalmic surgery and is now globally available, offering surgeons enhanced safety and exceptional phacoemulsification efficiency, with less surge and more stability, which improves surgical accuracy and outcomes.
The cataract surgery devices and equipment market report table of contents includes:
1. Executive Summary
2. Cataract Surgery Devices And Equipment Market Characteristics
3. Cataract Surgery Devices And Equipment Market Trends And Strategies
4. Cataract Surgery Devices And Equipment Market – Macro Economic Scenario
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32. Global Cataract Surgery Devices And Equipment Market Competitive Benchmarking
33. Global Cataract Surgery Devices And Equipment Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cataract Surgery Devices And Equipment Market
35. Cataract Surgery Devices And Equipment Market Future Outlook and Potential Analysis
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