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As per The Business Research Company’s Cataract Surgery Devices And Equipment Global Market Report 2023, The global cataract surgery devices and equipment market is expected to grow from $6.61 billion in 2022 to $7.11 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The market size of the cataract surgery devices and equipment is expected to grow to $9.18 billion in 2027 at a CAGR of 6.6%.

What was the major driver in the cataract surgery devices and equipment market?
The major growth driver for the cataract surgery devices and equipment market has been the global aging population. In 2020, there were 1 billion persons aged 65 years or over in the global population. This number is projected to double to 1.5 billion in 2050. The cases of cataracts in the geriatric population are also expected to increase in the same proportion. According to World Health Organization, the number of cataract cases is expected to increase by 78% by 2050 in the U.S. alone. This presents a huge market for cataract surgery equipment manufacturers shortly by expanding the customer base due to the fast-growing geriatric population. For instance, the population of China is getting older faster than anywhere else in the world, this presents a huge market for the cataract surgery device manufacturers in China.

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What was the key trend in the cataract surgery devices and equipment market?
The cataract surgery devices and equipment industry has witnessed many positive changes introduced by the market players, the most prominent one being the introduction of laser technology. Laser-assisted cataract surgery is used to gather information about the lens, to make the corneal incision, and for the opening in the lens capsule. The advent of laser technology has caused a significant impact on this industry by bringing in new levels of safety and accuracy and advancing cataract surgery. Femtosecond laser platforms have significantly contributed to the precision of cataract surgeries being performed and may soon surpass the traditional hand-held surgeries. For example, Abbott laboratories which lacked this technology, acquired Optimedica for $250 million to enter the laser cataract surgery devices market after witnessing the huge demand and benefits of laser technology.

Which was the largest region in the cataract surgery devices and equipment market?
North America was the largest region in the global cataract surgery devices and equipment market in 2022. Asia-Pacific was the second-largest region in cataract surgery devices and equipment market share. The regions covered in the global cataract surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Who are the cataract surgery devices and equipment market prominent players?
Major players in the cataract surgery devices and equipment market are Alcon Inc., Abbott Laboratories, Carl Zeiss Meditech AG, Essilor International S.A., Opcon Corporation, Allergan, Inc., Bausch & Lomb, Inc., NIDEK Co. Ltd., STAAR Surgical Company, and Johnson & Johnson.

Key cataract surgery devices and equipment market segments
The global cataract surgery devices and equipment market is segmented –
1) By Type: Intraocular Lens (IOL), Ophthalmic viscoelastic device (OVD), Phacoemulsification Equipment, Femtosecond Laser Equipment
2) By Application: Ophthalmology Centers, Hospitals, Clinics
3) By Surgery Type: Extracapsular Cataract Extraction, Phacoemulsification, Femtosecond Laser, Other Surgery Types

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The Cataract Surgery Devices And Equipment Global Market Report 2023  provides a comprehensive overview on the cataract surgery devices and equipment market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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Ophthalmic Devices Global Market Report 2023
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Diagnostic And Monitoring Ophthalmic Devices And Equipment Global Market Report 2023

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