The "Cataract Surgery Devices Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Cataract Surgery Devices Market is projected to grow with a CAGR of 4.2% over the forecast period.
The growth rate of the market can be attributed to a cohort of factors, such as the growing prevalence of cataract cases and increasing geriatric population who are more prone to ophthalmologic diseases especially cataracts. According to Preventblindness.org, 2019, an estimated 38.5 million entities in the United States will have cataracts by 2032 and the average annual costs related to the treatment of cataracts in the United States is nearly USD 7 billion.
Coburn Technologies Inc.
Johnson & Johnson
Ziemer Ophthalmic Systems
Carl Zeiss Meditech AG
Essilor International S.A.
Bausch & Lomb, Inc.
Key Market Trends
Phacoemulsification Equipment Segment is Dominating the Cataract Surgery Devices Market.
The dominant share of the Phacoemulsification Equipment is due to the surgeons and patients opting for them over the others due to the advantages. Phacoemulsification cataract surgery is a procedure in which an ultrasonic device is used to break up the cataract, from the eye to improve vision. The benefits of this surgery are that there is no need for hospitalization, smaller incision, no restriction on normal activities, etc. Apart from these advantages, the other factors propelling the segment growth are the increasing prevalence of cataracts and surgeries, increasing the adoption of these devices in Asian Countries like India and China, which are the fastest-growing in the market.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to factors such as the high prevalence of cataract in the region, established healthcare infrastructure, high disposable income, favorable reimbursement policies. The National Institutes of Health (NIH) stated that around 50% of the population will acquire cataracts by the age of 80 years in America. As per the statistics the region is going to maintain its dominance in the market throughout the forecast period.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Prevalence of Cataract Diseases and Increasing Geriatric Population
4.2.2 Technological Advancements in Ophthalmic Devices
4.3 Market Restraints
4.3.1 High Cost Incurred for Cataract Surgeries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Intraocular Lenses
5.1.2 Phacoemulsification Equipment
5.1.3 Ophthalmic Viscoelastic Devices
5.2 By End-User
5.2.1 Ophthalmology Clinics
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Coburn Technologies Inc.
6.1.2 Alcon, Inc.
6.1.3 Johnson & Johnson
6.1.6 Ziemer Ophthalmic Systems
6.1.7 Carl Zeiss Meditech AG
6.1.8 Essilor International S.A.
6.1.9 Bausch & Lomb, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ivx936
View source version on businesswire.com: https://www.businesswire.com/news/home/20201029005828/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900