At what pace is the cataract surgery devices and equipment market growing, and what is its estimated value?
The cataract surgery devices and equipment market size has grown strongly in recent years. It will grow from $14.94 billion in 2024 to $15.88 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. 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 steady growth in the next few years. It will grow to $18.15 billion in 2029 at a compound annual growth rate (CAGR) of 3.4%. 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.
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Which Market drivers have played a significant role in driving the cataract surgery devices and equipment market?
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, in January 2024, according to the Population Reference Bureau (PRB), a US-based private non-profit organization, the population of Americans aged 65 and older is expected to grow from 58 million in 2022 to 82 million by 2050, representing a 47% increase. Additionally, this age group’s proportion of the total population is anticipated to rise from 17% to 23%. This shift indicates a significant aging trend in the U.S. population. The projections highlight the increasing importance of addressing the needs of older adults in various sectors. Therefore, the rising geriatric population is driving the growth of the cataract surgery devices and equipment market.
What are the key segments within the cataract surgery devices and equipment market?
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
Subsegments:
1) By Intraocular Lens (IOL): Monofocal IOL, Multifocal IOL, Toric IOL, Accommodative IOL
2) By Ophthalmic Viscoelastic Device (OVD): Dispersive OVD, Cohesive OVD
3) By Phacoemulsification Equipment: Phacoemulsification Machines, Handpieces And Accessories
4) By Femtosecond Laser Equipment: Femtosecond Laser Systems For Cataract Surgery, Laser Treatment Accessories
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Which key players are shaping the cataract surgery devices and equipment market?
Major companies operating in the cataract surgery devices and equipment market include Johnson & Johnson Services Inc., Allergan Inc., PhysIOL S.A, Novartis AG, Abbott Laboratories, Alcon Inc., HOYA Corporation, Bausch & Lomb Inc., Carl Zeiss Meditech AG, Topcon Corporation, NIDEK Co. Ltd., Aurolab Co., OPHTEC BV, DORC International BV, Calhoun Vision Inc., Coburn Technologies Inc., HumanOptics AG, Hanita Lenses Ltd., Lenstec Inc., CRISTALENS SL, EyeKon Medical Inc., ROWIAK GmbH, Ziemer Ophthalmic Systems AG, HAAG-Streit Holding AG, Sonomed Escalon Corp., Ellex Medical Lasers Limited
Which transformative trends will shape the cataract surgery devices and equipment market landscape?
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 February 2024, Johnson & Johnson, a US-based pharmaceutical, biotechnology, and medical technologies company, has launched the Tecnis PureSee intraocular lens (IOL). The TECNIS PureSee IOL features an innovative, purely refractive design that provides consistent, high-quality vision with exceptional contrast and low-light performance, rivaling that of monofocal IOLs. Cataract surgery is the most commonly performed surgery worldwide, with around 28 million procedures annually. However, only 10-15% of patients receive advanced optical IOLs designed for astigmatism and presbyopia. Currently, surgeons and patients face trade-offs when selecting an IOL, such as the choice between clear vision at all distances and potential glares or halos. The TECNIS PureSee addresses these concerns, enhancing overall results for both patients and surgeons.
How do regional factors impact the cataract surgery devices and equipment market, and which region is the largest contributor?
The countries covered in the cataract surgery devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
What Does The Cataract Surgery Devices And Equipment Market Report 2025 Offer?
The cataract surgery devices and equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Cataract surgery devices include instruments that are used for performing cataract surgery in the treatment of cataracts, a condition in which the lens of the eye becomes progressively opaque, resulting in blurred vision.
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