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How Has The Cataract Surgery Devices And Equipment Market Size Shifted, And What Is the Outlook Through 2034?
The market size for cataract surgery devices and equipment has seen consistent growth in the past few years. The market value is projected to increase from $13.97 billion in 2024 to $14.52 billion in 2025, representing a compound annual growth rate (CAGR) of 3.9%. The historic growth in this market could be linked to factors like an ageing demographic, a surge in the prevalence of cataracts, an increase in patient awareness, government schemes for vision care, and an upward trend in healthcare spending.
The market for cataract surgery devices and equipment is projected to witness stable growth over the upcoming years, estimated to reach a value of $16.64 billion in 2029, expanding at a compound annual growth rate (CAGR) of 3.5%. The projected growth during the forecast period can be associated with increasing focus on outpatient surgery, customized intraocular lenses, value-based healthcare models, worldwide vision care campaigns, and international initiatives for eye health. The prominent trends identifying the forecast period include the incorporation of artificial intelligence (AI), teleophthalmology and remote consultations, quick technological advancements, enhancements in intraocular lens technology, and technological progression in surgical techniques, femtosecond laser technology.
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Which Primay Drivers Are Accelerating Growth in the Cataract Surgery Devices And Equipment Market?
The cataract surgery devices and equipment market is forecasted to experience growth due to the increasing aging population. This group, comprising of individuals aged 65 and older, is at a high risk of developing cataracts leading to vision impairment as they age. This fact is prompting a surge in the demand for cataract surgery devices. The escalating need for cataract surgery procedures and related equipment can be attributed to this growing elderly demographic. For example, the Population Reference Bureau (PRB), a non-profit organization in the US, reported in January 2024 that it’s projected there will be a rise from 58 million in 2022 to 82 million by 2050 in the elder American population, which is a 47% growth. Moreover, it is predicted that this age group will increase their share of the total U.S. population from 17% to 23%, underlying an apparent aging pattern in the country’s population. These forecasts signify the rising necessity of meeting the needs of senior citizens across different sectors. As such, the growing elderly population serves as a catalyst for the expansion of the cataract surgery devices and equipment market.
Which Primary Segments of the Cataract Surgery Devices And Equipment Market Are Driving Growth and Industry Transformations?
The cataract surgery devices and equipmentmarket covered in this report is segmented –
1) By Type: Intraocular Lens (IOL), Ophthalmic Viscoelastic Device (OVD), Phacoemulsification Equipment, Femtosecond Laser Equipment
2) By Surgery Type: Extracapsular Cataract Extraction, Phacoemulsification, Femtosecond Laser, Other Surgery Types
3) By Application: Ophthalmology Centers, Hospitals, Clinics
Subsegments:
1) By Intraocular Lens (IOL): Monofocal IOL, Multifocal IOL, Toric IOL, Accommodative IOL
2) By Ophthalmic Viscoelastic Device (OVD): Dispersive OVD, Cohesive OVD
3) By Phacoemulsification Equipment: Phacoemulsification Machines, Handpieces And Accessories
4) By Femtosecond Laser Equipment: Femtosecond Laser Systems For Cataract Surgery, Laser Treatment Accessories
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Which Regions Are Key Players in the Growth of the #Which Primay Drivers Are Accelerating Growth in the Cataract Surgery Devices And Equipment Market?# Market?
North America was the largest region in the global cataract surgery devices and equipment market in 2024. Asia-Pacific was the second-largest region in cataract surgery devices and equipment market. The regions covered in the cataract surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which Technological Trends Are Reshaping the Cataract Surgery Devices And Equipment Industry Dynamics?
Leading businesses in the field of cataract surgery devices and equipment are developing innovative products such as the VERITAS Vision System. This advanced system is aimed at enhancing surgical precision and patient outcomes. For instance, in February 2024, Johnson & Johnson, a pharmaceutical and medical technologies corporation based in the United States, introduced the Tecnis PureSee intraocular lens (IOL). This lens stands out for its refractive design offering consistent, superior-quality vision with great contrast and low-light efficacy, on par with monofocal IOLs. Cataract surgery is the most commonly conducted surgery across the globe, with approximately 28 million procedures conducted yearly. Despite this, a small 10-15% of patients receive sophisticated optical IOLs designed for astigmatism and presbyopia. Currently, both surgeons and patients face the challenge of choosing between an IOL that offers clarity at all ranges and one that may cause potential glares or halos. The TECNIS PureSee lens addresses these challenges, ultimately improving overall outcomes for both surgeons and patients.
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What Parameters Are Used to Define the Cataract Surgery Devices And Equipment Market?
Cataract surgery devices include instruments that are used for performing cataract surgery in the treatment of cataracts, a condition in which the lens of the eye becomes progressively opaque, resulting in blurred vision.
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