Worldwide demand for cataract devices to reach USD 19.49 billion by 2032

Technical advancements leading to risk-free and easy procedures are transforming the way cataract surgeries are performed. Cataract devices account for close to 10% of the global ophthalmic surgery market and are likely to gain 300 BPS over the span of the next ten years.

The commitment of governments and healthcare organizations to educate the masses about cataract diseases and associated factors through various outreach campaigns will accelerate the sales of target products over the forecast period. In addition, investments by manufacturers to strengthen their operational networks will favorably impact the demand growth for cataract devices over the coming years.

“Growing Incidence of Visual Impairing Cataracts among Older Adults”

Cataracts are considered a frequently occurring visual impairment among the elderly. The demographic shift in developed countries towards the geriatric population has increased the prevalence of cataracts. In addition, increased life expectancy across the world has been accompanied by an increased need for cataract surgical interventions. Delay in seeking medical assistance is common among the aged population, which leads to cataract progression, thereby amplifying the need for cataract devices.

All in all, the growing elderly patient population is driving the need for the development of more sophisticated and efficient cataract devices, which is anticipated to fuel the worldwide market for the target product.

Competitive landscape
Prominent cataract device manufacturers are Bausch & Lomb, Carl Zeiss Meditec AG, Alcon, Hoya Corporation, Nidek Co., Ltd, Ophtec BV, Ziemer Ophthalmic Systems AG, and Staar Surgical.

• In Jan 2020, Hoya Corporation announced a joint venture with GeMax, a specialty service provider of IOLs with a strong market position in China. The collaboration will help Hoya Surgical Optics gain a prominent position in the East Asia market.
• In July 2022, Nidek Technologies acquired back Nidek Medical S.R.L., a sales and service company of ophthalmic devices. This acquisition will allow the company to enhance its ophthalmic devices portfolio.

Fact.MR has provided detailed information about the price points of key manufacturers of cataract devices positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

By product type:

• Phacoemulsification Equipment
• Ophthalmic Viscoelastic Devices (OVD)
  • Cohesive OVD
  • Dispersive OVD
• Femtosecond Lasers
• Intraocular Lenses (IOLs)
  • Standard Monofocal IOLs
  • Premium IOLs
    • • Toric IOLs
      • Multifocal IOLs
      • Accommodative IOLs

By application:

• • Posterior Sub-Capsular Cataracts
  • Cortical Cataracts
  • Nuclear Sclerotic Cataracts
  • Congenital Cataracts
  • Traumatic Cataracts
  • Others

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