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Cataract Surgical Devices Market To Reach USD 9.98 Billion By 2026; Rising Prevalence of Cataract Disorders

January 17, 2020 | Healthcare

The global cataract surgical devices market size is projected to reach USD 9.98 billion by the end of 2026. The high prevalence of cataract disorders will open up a huge potential for market growth. According to a report published by Fortune Business Insights, titled “Cataract Surgical Devices Market Size, Share & Industry Analysis, By Product Type (Phacoemulsification Systems, Femtosecond Laser, Intraocular Lenses, Ophthalmic Viscoelastic Devices & Other Consumables), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026,” the market was worth USD 6.56 billion in 2018 and will exhibit a CAGR of 5.4% during the forecast period, 2019-2026.


The number of cataract surgeries is increasing at a faster rate in recent years. The increasing prevalence of ocular diseases has emerged in favor of the surgical cataract devices market in recent years. The advent of innovative technologies in cataract surgery will contribute to market growth. Higher adoption of intraocular lenses in developing countries will create several opportunities for growth for the companies operating in the global market in the forthcoming years. Additionally, the improving healthcare infrastructure and reimbursement policies will contribute to the growth of the market in the coming years.


To get a detailed report summary and research scope of this market, click here: https://www.fortunebusinessinsights.com/industry-reports/cataract-surgical-devices-market-101957


Key Segments in the Cataract Surgical Devices Market


By Product Type:  The market is segmented on the basis of product type into phacoemulsification systems, femtosecond laser, intraocular lenses, ophthalmic viscoelastic devices & other consumables. Among these, the intraocular lenses segment is projected to hold the highest market share in the coming years. Accounting to the growing product adoption, this segment will exhibit a steady CAGR in the coming years. The variations in product offerings, combined with the ease of availability will add to the demand for the product. As of 2018, the intraocular lenses segment accounted for 51.9% of the cataract surgical devices market share.


By End User: On the basis of end user, the market is segmented into hospitals, ophthalmic clinics, and others. Among these, the hospitals segment is likely to hold a dominant share in the coming years. The increasing number of cataract surgeries in hospitals has made a huge impact on the growth of this segment. The improvements in healthcare infrastructure will aid the growth of the hospitals segment. As cataract surgeries sensitive, they need to be conducted in hospitals. As a result, this segment will witness a high CAGR in the coming years. The ophthalmic clinics segment will witness considerable growth in the coming years, owing to the presence of several small scale as well as medium scale eye specialty clinics across the world.


By Region: The report discusses the ongoing cataract surgical devices market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific will emerge as the leading segment in the coming years, driven by the high prevalence of cataract disorders and subsequent surgical intervention. Moreover, favorable health reimbursement policies have opened up a huge potential for the companies operating in this market. As of 2018, the market in Asia Pacific was worth USD 2.09 billion and this value is likely to increase in the coming years.


Alcon, and Johnson and Johnson Services, Inc., Together Account for the Largest Market Share


The market is consolidated in nature. A few companies account for a dominating market share. Alcon and Johnson and Johnson Services together account for over 50% of the global market share. A few of the other companies that are operating in the global market include:





    • ZEISS International

    • Bausch & Lomb Incorporated

    • STAAR SURGICAL

    • Hoya Corporation

    • Oertli Instrumente AG

    • Rayner Intraocular Lenses Limited

    • Oculentis

    • SIFI S.p.A

    • Other Prominent Players




The global cataract surgical devices market is segmented on the basis of:








































ATTRIBUTES



 DETAILS



Study Period



2015-2026



Base Year



2018



Forecast Period



2019-2026



Historical Period



2015-2017



Unit



Value (USD billion)



Segmentation



By Product Type



  • Phacoemulsification Systems

  • Femtosecond Laser

  • Intraocular Lenses

  • Ophthalmic Viscoelastic Devices & Other Consumables



By End-user



  • Hospitals

  • Ophthalmic Clinics

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)



 

Cataract Surgical Devices Market
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  • 2018
  • 2015-2017
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