Cataract Surgical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Cataract Surgical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global cataract surgical devices market size reached US$ 8.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.1 Billion by 2028, exhibiting a growth rate (CAGR) of 4.2% during 2023-2028.

A cataract is a common ocular disorder wherein the clear and natural lens of the eye becomes cloudy. It leads to partial or complete vision loss, color fading, night blindness, double vision, and sensitivity to bright lights. It develops when proteins in the eye form clumps and prevent the lens from sending clear images to the retina. It is commonly caused by eye injuries, aging, inflammation, and other eye diseases damaging the tissue that protects eye lenses. Consequently, there is a significant growth in the number of cataract surgeries that are performed with the help of technologically advanced devices and laser-assisted technology across the globe.

Global Cataract Surgical Devices Market Trends:

The increasing geriatric population, which is more prone to cataracts and other eye-related disorders, represents one of the key factors positively influencing the market. In addition, the rising awareness among individuals about the benefits of early diagnosis and treatment of cataracts is catalyzing the demand for cataract surgical devices. Apart from this, technological advancements in ophthalmology, including laser-assisted in situ keratomileuses (LASIK) surgery and the development of advanced cataract surgical devices, such as forceps, speculum wire, Wescott scissors, and calipers, are contributing to the market growth. Besides this, the introduction of femtosecond laser technology is bolstering the market growth. Furthermore, governments of various countries are introducing attractive health schemes to financially support individuals with cataract problems, which, in turn, is offering lucrative growth opportunities to market players operating in the industry. Moreover, increasing investments by leading industry players in research and development (R&D) activities to come up with advanced and efficient cataract surgical devices are anticipated to drive the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global cataract surgical devices market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and end-use.

Breakup by Product Type:

Ophthalmic viscoelastic devices (OVDs)
Intraocular lenses (IOLs)
Femtosecond laser
Phacoemulsification equipment
Others

IOLs currently represent the most popular product type on account of the rising traction and increasing adoption of foldable and advanced IOLs across the world.

Breakup by End-Use:

Hospitals
Eye care clinics
Eye Treatment and Surgical Centres

Hospitals presently hold the majority of the global cataract surgical devices market share due to the significant development in the healthcare infrastructure and a considerable rise in advanced healthcare facilities.

Regional Insights:

Europe
North America
Latin America
Asia Pacific
Middle East and Africa

North America exhibits a clear dominance in the market due to the favorable reimbursement policies offered by insurance companies and increasing awareness among individuals in the region about ocular diseases.

Competitive Landscape:
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Abbott Laboratories, Hoya Corporation, Carl Zeiss Meditec AG, Alcon Laboratories Inc., and Essilor International S.A.

This report provides a deep insight into the global cataract surgical devices market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cataract surgical devices industry in any manner.

Key Questions Answered in This Report

1. What was the size of the global cataract surgical devices market in 2022?
2. What is the expected growth rate of the global cataract surgical devices market during 2023-2028?
3. What are the key factors driving the global cataract surgical devices market?
4. What has been the impact of COVID-19 on the global cataract surgical devices market?
5. What is the breakup of the global cataract surgical devices market based on the product type?
6. What is the breakup of the global cataract surgical devices market based on the end-use?
7. What are the key regions in the global cataract surgical devices market?
8. Who are the key players/companies in the global cataract surgical devices market?