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Ophthalmology Cataract Surgery Devices Market - Forecast(2024 - 2030)
Ophthalmology Cataract Surgery Devices Market Overview
Ophthalmology Cataract Surgery Devices Market Report Coverage
The “Ophthalmology Cataract Surgery
Devices Market Report - Forecast (2022-2027)” by Industry ARC,
covers an in-depth analysis of the following segments in the Ophthalmology Cataract Surgery
Devices Market.
Key Takeaways
- Geographically, North America (Ophthalmology Cataract Surgery Devices market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of cataracts requiring the application of intraocular lenses in the North American region.
- Ophthalmology Cataract Surgery Devices Market growth is being driven by the rising pervasiveness of cataracts requiring the application of intraocular lenses and the expanding population of the elderly. However, the soaring cost connected with cataract devices and surgeries is one of the major factors hampering the growth of the Ophthalmology Cataract Surgery Devices Market.
- Ophthalmology Cataract Surgery Devices Market Detailed Analysis of the Strength, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Ophthalmology Cataract Surgery Devices Market report.
Ophthalmology Cataract Surgery Devices Market: Market Share (%) by Region, 2021
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Ophthalmology Cataract Surgery Devices Market Segment Analysis – by Product Type
The Ophthalmology Cataract
Surgery Devices Market based on product type can be further segmented into Intraocular lens (IOL), Ophthalmic
Viscoelastic Device (OVD), Phacoemulsification Equipment, Femtosecond laser
Equipment and Others. The Phacoemulsification
Equipment Segment held the
largest Ophthalmology Cataract Surgery Devices market share in 2021. This
growth is owing to the surging application of phacoemulsification equipment for the treatment of cataracts. Phacoemulsification equipment is one of the most progressive kinds of
equipment utilized in treating cataracts. The soaring benefits of phacoemulsification
equipment like nil hospitalization needed for surgery, a tiny incision and lower
induced astigmatism are further propelling the growth of the Phacoemulsification
Equipment segment.
Furthermore, the Intraocular lens (IOL) segment is estimated to grow
with the fastest CAGR of 4.3% during the forecast period 2022-2027 owing to the
heightening application of intraocular
lenses as an implant to take care of the cloudiness brought about by cataracts.
Ophthalmology Cataract Surgery Devices Market Segment Analysis - by End-user
The Ophthalmology
Cataract Surgery Devices Market based on end-user can be further segmented into Hospitals, Clinics, Ophthalmology Centers,
Research Institutes and Others.
The Hospitals Segment
held the largest Ophthalmology Cataract Surgery Devices market share in
2021. This growth is owing to the increasing inclination of patients
towards hospitals for the diagnosis of conditions like cataracts requiring the application of phacoemulsification equipment and intraocular lens. The presence
of progressive infrastructure and the effortless accessibility of qualified and
skilled physicians and multidisciplinary teams in hospitals are further
propelling the growth of this segment.
Furthermore, the Ophthalmology Centers segment
is estimated to grow with the fastest CAGR of 5.5% during the forecast period 2022-2027 owing to the increasing
count of cataract surgeries in ophthalmology centers resulting in enhanced
vision among seniors and a much-reduced hazard of falls, thereby decreasing
the occurrence of hip fractures and comparable harms.
Ophthalmology Cataract Surgery Devices Market Segment Analysis - by Geography
The Ophthalmology
Cataract Surgery Devices Market based on geography can be further segmented
into North America, Europe, Asia-Pacific, South America and the Rest of the World. North
America (Ophthalmology Cataract Surgery Devices Market) held the largest Ophthalmology Cataract Surgery Devices market share with 39% of the overall market in
2021. The growth of this region is owing to the increasing predominance
of cataracts and the existence of progressive and powerful healthcare
infrastructure in the North American region. There is less
research investigating the effectiveness of Ambulatory Surgical Centers in
offering ambulatory services in surgery, The developing
geriatric population with the considerable burden of cataracts, the superior
reimbursement policies and the powerful healthcare infrastructure in the U.S. are further propelling the growth of the Ophthalmology
Cataract Surgery Devices Industry, thereby contributing to the Ophthalmology
Cataract Surgery Devices Industry Outlook, in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is owing to factors like the expanding population of the elderly and the technological progress in countries like China in the Asia-Pacific region. The increasing predominance of diabetes, obesity and hypertension are further fuelling the progress of the Ophthalmology Cataract Surgery Devices Market in the Asia-Pacific region.
Ophthalmology Cataract Surgery Devices Market Drivers
Surging Benefits of Phacoemulsification Surgery are Projected to Drive the Growth of Ophthalmology Cataract Surgery Devices Market:
Phacoemulsification has quickly evolved into the gold standard for cataract surgery for the following reasons:
- The most vital benefit is visual rehabilitation. The vision is frequently superior to ever before owing to the intraocular lens (IOL) enclosed in the eye making up for the earlier refractive error.
- The conventional extracapsular cataract surgery incision calibrates about 11mm and needs numerous stitches for closure. These may need a suture elimination at a later date. Phacoemulsification involves tiny incisions which normally do not need stitches or sutures.
- Superior vision leads to greater confidence, superior mobility and
- Another psychological effect is the immense alleviation of the fear of blindness. Nearly all patients record a feeling of bright and clear vision, aware that their worries were until now incoherent.
- Since the surgical downtime is not considerable, nearly all patients find it effortless to continue their typical actions within two to three days of surgery inclusive of television watching, reading and continuing official duties also.
The surging benefits of Ophthalmology Cataract Surgery Devices are therefore fuelling the growth of the Ophthalmology Cataract Surgery Devices Market during the forecast period 2022-2027.
Soaring Innovations in Cryoprobe are Expected to Boost the Growth of the Ophthalmology Cataract Surgery Devices Industry:
Extracapsular cataract extraction is one of the most secure and most successful procedures in modern eye surgery. Around 95% of patients record that their vision is considerably enhanced subsequent to the operation. The current invention reveals a new and thin Cryoprobe tip, for strategizing and eliminating cataractous nuclei by bringing about the nucleus to freeze and attach to the probe tip in cataract extraction at the time of extracapsular cataract surgery. The cryoprode tip of the current invention is acclimatized to conjugate with a cryo unit and configured to be controlled by a footswitch fastened to the cryo unit. The Cryoprobe tip includes a shaft and a terminal. The cryoprobe tip is represented in the shaft which is of prearranged dimensions and angled at a shaft angle of around 150 degrees for ease of reach into the substance of the nucleus and to strategize the connected nucleus out of the eye in which one end of the shaft is adapted to conjugate with the cryo unit and another end of the shaft is combined with the terminal. These kinds of soaring innovations in Cryoprobe are therefore driving the growth of the Ophthalmology Cataract Surgery Devices Industry, thereby contributing to the Ophthalmology Cataract Surgery Devices Industry Outlook during the forecast period 2022-2027.
Ophthalmology Cataract Surgery Devices Market Challenge
Limitations of Phacoemulsification are Hampering the Growth of the Ophthalmology Cataract Surgery Devices Market:
The limitations of phacoemulsification include the requirement for specialized machinery and an arduous learning curve for the surgeon. As per one investigation, surgeons were required to carry out around 150 cataract extractions utilizing phacoemulsification prior to their complication rates falling to a baseline level. In poorly developed nations, the cost of the machine and instrumentation act as the largest obstruction to its adoption. It offers one-time use only, further contributing to the cost of surgery. There is a dearth of surgical skill and training together with hands-on experience in numerous medical schools. These issues are thus hampering the growth of the Ophthalmology Cataract Surgery Devices Market.
Ophthalmology Cataract Surgery Devices Industry Outlook
Development and launch of innovative products, mergers and acquisitions and R&D financing for progress in ophthalmic surgery devices are key strategies adopted by players in the Ophthalmology Cataract Surgery Devices Market. The top 10 companies in the Ophthalmology Cataract Surgery Devices market are:
- Carl Zeiss Meditech AG
- Abbott Laboratories
- Alcon, Inc.
- Allergan, Inc.
- Bausch & Lomb, Inc.
- Essilor International S.A.
- Opcon Corporation
- NIDEK Co., Ltd.
- STAAR Surgical Company
- Ziemer Ophthalmic Systems
Recent Developments
- In November 2021, Alcon declared its aim to gain Ivantis®, developer and manufacturer of the novel Hydrus® Microstent, a minimally-invasive glaucoma surgery (MIGS) device planned to decrease intraocular pressure for open-angle glaucoma patients in connection with cataract surgery*.
- In October 2021, Bengaluru-based Alcon Laboratories India Pvt Ltd introduced a presbyopia-correcting intraocular lens (PC-IOL) with wavefront-shaping technology – the AcrySof IQ Vivity IOL (Vivity). This novel PC-IOL is presently accessible to Indian ophthalmologists for their patients enduring cataract surgery.
- In May 2019, Alcon, launched novel phacoemulsification (phaco) technology that is the portion of the CENTURION®Vision System, inclusive of the ACTIVE SENTRY®Handpiece and INTREPID®Hybrid Tip, at the American Society of Cataract and Refractive Surgery (ASCRS) 2019 annual meeting taking place May 3-7 in San Diego, Calif.
Relevant Reports:
Report Code: HCR 96781
Report Code: HCR 55249
Report Code: HCR 0413
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