How the Cataract Surgery Devices And Equipment Market Will Grow: Key Trends, Market Size, and Opportunities Beyond 2025
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Major Innovations Are Driving the Accelerated Growth of the Cataract Surgery Devices And Equipment Market?
The upward trend in the elderly population is anticipated to fuel the progress of the cataract surgery devices and equipment market moving forward. The elderly demographic comprises individuals who are 65 years old or older. As this segment of the population ages, they become more susceptible to cataracts, leading to a heightened demand for cataract surgery devices to address the resulting vision issues. This surge in elderly demographics thus boosts the demand for cataract surgery operations and corresponding equipment. For example, the Population Reference Bureau (PRB), a private non-profit organization in the US, projected in January 2024 that the count of Americans aged 65 and over will surge from 58 million in 2022 to 82 million by 2050, marking a 47% swell. Moreover, it’s predicted that this demographic will account for an increasing share of the total population, rising from 17% to 23%. This demographic shift indicates a notable aging pattern within the U.S. populace, underscoring the growing necessity to cater to the needs of senior citizens across various sectors. Hence, the increasing elderly population is a principal driver pushing the growth of the cataract surgery devices and equipment market.
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#What is the Anticipated CAGR of theCataract Surgery Devices And Equipment Market, and What Factors Will Drive It?
In recent years, we’ve observed significant growth in the cataract surgery devices and equipment market. The market worth, which is expected to rise from $14.94 billion in 2024 to $15.88 billion in 2025, will increase at a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this past growth include an aging population, an increase in cataract cases, heightened patient awareness, government-led vision care initiatives, and a rise in healthcare spending.
In the upcoming years, the cataract surgery devices and equipment market is predicted to experience consistent growth. By 2029, it is projected to expand to $18.15 billion, with a compound annual growth rate (CAGR) of 3.4%. This growth during the forecast period is due to several factors including heightened attention to outpatient surgery, customized intraocular lenses, value-driven healthcare models, worldwide vision care campaigns and global eye health initiatives. Significant trends during the forecast period encompass the incorporation of artificial intelligence (ai), the use of teleophthalmology and remote consultations, rapid advancements in technology, enhancement in intraocular lens technology, and progress in femtosecond laser technology and surgical techniques.
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What Are the Most Significant Market Trends Transforming theCataract Surgery Devices And Equipment Market?
Top corporations in the cataract surgery devices and equipment sector are creating groundbreaking products like the VERITAS Vision System to enhance surgical precision and results. The VERITAS Vision System is an advanced phacoemulsification system aimed at enhancing patient security, surgical efficiency, and comfort. For example, Johnson & Johnson – a company based in the United States that specializes in pharmaceuticals, biotechnology, and medical technologies – introduced the Tecnis PureSee intraocular lens (IOL) in February 2024. The design of the TECNIS PureSee IOL is novel, purely refractive, providing consistent, excellent vision with incredible contrast and performance in low light, rivaling monofocal IOLs. Across the globe, cataract surgery is the most frequently conducted procedure, with nearly 28 million surgeries performed each year. Nevertheless, only 10-15% of patients receive high-end optical IOLs intended for astigmatism and presbyopia. Currently, a compromise is needed when surgeons and patients select an IOL, such as choosing between clear vision at all distances and possible glares or halos. The TECNIS PureSee addresses these issues, enhancing the outcome for both surgeons and patients.
What Are the Top Market Players Propelling the Growth of theCataract Surgery Devices And Equipment Industry?
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
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Which Primary Segments of the Cataract Surgery Devices And Equipment Market Are Driving Growth and Industry Transformations?
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 Regions Are Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of 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.
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