What’s Driving Growth in the Cataract Surgery Devices And Equipment Market? Insights into Key Trends and Opportunities
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How has the cataract surgery devices and equipment market grown in recent years?
Recent years have seen robust growth in the market size for cataract surgery devices and equipment. It is set to increase from $14.94 billion in 2024 to $15.88 billion in 2025, following a compound annual growth rate (CAGR) of 6.3%. This growth in the previous period has been driven by factors such as the ageing populace, a higher incidence of cataracts, improved patient awareness, government-initiated vision care programs, and a rise in healthcare spending.
How is the cataract surgery devices and equipment market size expected to evolve during the forecast period?
In the coming years, the sulfur market size is predicted to experience significant expansion. It is anticipated to increase to $33.33 billion in 2029, with a compound annual growth rate (CAGR) of 11.2%. The expansion during the forecast period can be credited to the rising demand in agriculture and fertilizer, environmental regulations, the growing chemical industry, advancements in the energy sector, as well as technological progress in healthcare. Key trends for the forecast period include a rise in demand for elemental sulfur in agriculture, usage of sulfur in pharmaceuticals and personal care items, growth in vulcanization processes, an upsurge in exploration of sulfur deposits, along with sulfur as a cathode material in batteries.
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Which key drivers are propelling the cataract surgery devices and equipment market’s growth?
The expected increase in the elderly population presents an opportunity for the expansion of the cataract surgery devices and equipment market. Individuals 65 years and older, often referred to as the geriatric population, are more susceptible to cataracts as they continue to age. This, in turn, is spurring a surge in demand for cataract surgery devices, to mitigate the associated loss of vision. As such, the demographic trend towards an aging population is triggering a subsequent need for cataract surgery procedures and related devices. For example, Population Reference Bureau (PRB), a private non-profit organization based in the U.S., predicts that the American population aged 65 and over will see an increase from 58 million in 2022 to 82 million by 2050, marking a 47% growth. Furthermore, this demographic’s share of the total population is anticipated to grow from 17% to 23%, signifying a trend towards aging in the U.S population. This demographic projection underscores the importance of catering to the needs of the older population in various sectors. Consequently, this expanding elderly population is fueling the growth of the cataract surgery devices and equipment market.
What are the market segments in the cataract surgery devices and equipment industry?
The cataract surgery devices and equipment market 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 leading companies are shaping the growth of the cataract surgery devices and equipment market?
Major companies operating in the cataract surgery devices and equipment market include Johnson & Johnson Services Inc., Allergan Inc., PhysIOL S.A, Novartis AG, Abbott Laboratories, Alcon Inc., HOYA Corporation, Bausch & Lomb Inc., Carl Zeiss Meditech AG, Topcon Corporation, NIDEK Co. Ltd., Aurolab Co., OPHTEC BV, DORC International BV, Calhoun Vision Inc., Coburn Technologies Inc., HumanOptics AG, Hanita Lenses Ltd., Lenstec Inc., CRISTALENS SL, EyeKon Medical Inc., ROWIAK GmbH, Ziemer Ophthalmic Systems AG, HAAG-Streit Holding AG, Sonomed Escalon Corp., Ellex Medical Lasers Limited
What key trends are currently impacting the cataract surgery devices and equipment market’s development?
Leading businesses in the cataract surgery devices and equipment market like Johnson & Johnson are introducing innovative solutions such as the VERITAS Vision System to enhance surgical precision and outcomes. The VERITAS Vision System, a state-of-the-art phacoemulsification system, is designed bearing in mind patient safety, surgeon efficiency, and comfort. On a related note, in February 2024, the US-based pharmaceutical, biotechnology and medical technologies giant, Johnson & Johnson, rolled out the Tecnis PureSee intraocular lens (IOL). This lens, thanks to its groundbreaking, purely refractive design, provides consistently high-quality vision with extraordinary contrast and low light performance, on par with that of monofocal IOLs. Cataract surgery is the most frequently performed surgery worldwide with about 28 million procedures taking place each year. However, only 10-15% patients get treated with advanced optical IOLs specially designed for astigmatism and presbyopia. Presently, surgeons and patients must make compromises while selecting an IOL, for example, choosing between clear vision at all distances or the possible occurrence of glares or halos. The TECNIS PureSee addresses these issues, improving overall outcomes for patients and surgeons alike.
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Which geographic areas are influencing the growth of the cataract surgery devices and equipment 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.
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