Cataract Surgery Device Market Analysis and Research Report 2019, forecast 2023

Cataract Surgery Device Market

The global cataract surgery device market is exhibiting highly stable demand due to the rise in the global geriatric population. The aging of the baby boomers generation coupled with the increasing prevalence of eye disorders will continue to drive growth in the cataract surgery device market.

The global cataract surgery device market is due to reach USD 4.5 Bn at a CAGR of 5.5% over the forecast period of 2016-2022, projects market Research Future (MRFR) in a detailed study.

Expanding insurance coverage for cataract surgery and other eye disorders has increased patient accessibility and increased demand for cataract surgery devices.

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Segmentation

The global cataract surgery device market has been segmented on the basis of type and end user.

On the basis of type, the global cataract surgery device market has been segmented into intraocular lens (IOL), phacoemulsification equipment, ophthalmic viscoelastic device (OVD), and femtosecond laser equipment.

On the basis of end user, the global cataract surgery device market has been segmented into ophthalmology centers, hospitals, clinics, and others.

Regional Analysis

Geographically, the global Cataract Surgery Device market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America accounts for the largest share of 46% of the global market. Presence of a high number of visually impaired population, increased access to healthcare, high expenditure on healthcare services drive the market in North America. Also, the region tends to swiftly adopt new advanced technologies which further boosts the growth of the cataract surgery devices market in North America.

Europe is the second largest market and is expected to grow at a CAGR of 5.2% over the forecast period.

Asia Pacific is expected to be the fastest growing market for cataract surgery devices while Latin America and the Middle East & Africa markets are expected to exhibit limited growth over the forecast period.

Competitive Landscape

M&A activities in the global cataract surgery device market have remained steady and strong interest has been noticed on the part of financial sponsors due to positive long-term demand which has spurred the growth of the global cataract surgery device market. Allergan, Inc. (U.S.), Opcon Corporation (Japan), Alcon, Inc. ( U.S), Essilor International S.A. (France), Bausch & Lomb, Inc. (U.S.), Carl Zeiss Meditech AG (Germany), STAAR Surgical Company (U.S.), Abbott Laboratories (U.S.), and NIDEK Co., Ltd. (Japan) are the eminent players in the global cataract surgery device market.

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Mrfr often plans & conducts meet with the industry experts and industrial visits for its research analyst members.