Unlocking Opportunities in the Cataract Surgery Devices And Equipment Market: Key Growth Trends and Forecast Insights
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What is the Growth Potential of the Cataract Surgery Devices And Equipment Market, and How Will It Perform by 2034?
In recent years, the market size for cataract surgery devices and equipment has seen substantial growth. It’s expected to grow further, from $14.94 billion in 2024 to $15.88 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.3%. The increase during the historic period can be credited to several factors such as changes in population age structure, the higher prevalence of cataracts, improving patient awareness, government measures towards vision care, and the escalation in healthcare spending.
In the upcoming years, the market size for cataract surgery devices and equipment is predicted to experience consistent growth, rising to $18.15 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 3.4%. This projected growth within the specified period can be credited to increased emphasis on outpatient surgery, custom-made intraocular lenses, value-oriented healthcare models, worldwide eye care campaigns, and global eye health initiatives. The prominent trends expected during this period encompass the incorporation of artificial intelligence (AI), teleophthalmology and remote consultations, swift technological progress, enhancements in the technology of intraocular lenses, advancements in surgical methodology, and femtosecond laser technology.
Which Factors Are Enhancing the Growth of the cataract surgery devices and equipment Market?
The growth of the cataract surgery devices and equipment market is anticipated to be fueled by the increasing population of older adults. Individuals aged 65 and above, referred to as the geriatric population, have a higher susceptibility to develop cataracts as they age. This condition results in vision impairment, which has consequently increased the demand for cataract surgery devices. As a consequence of the growing elderly population, the need for cataract surgery procedures and associated devices has amplified. For instance, as reported by the Population Reference Bureau (PRB), a private non-profit organization based in the US, the American population aged 65 and older is projected to expand from 58 million in 2022 to 82 million by 2050, accounting for a rise of 47%. Moreover, the share of this age group in the total population is predicted to surge from 17% to 23%, indicating a substantial aging trend in the American population. These forecasts underscore the escalating necessity of addressing older adults’ needs across different sectors. Thus, the enlarging geriatric population is contributing to the growth trajectory of the cataract surgery devices and equipment market.
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Who Are the Major Companies Shaping the Competitive Landscape of the Cataract Surgery Devices And Equipment Market?
Major companies operating in the cataract surgery devices and equipment market include:
• Johnson & Johnson Services Inc._x000D_
• Allergan Inc._x000D_
• PhysIOL S.A_x000D_
• Novartis AG_x000D_
• Abbott Laboratories_x000D_
What Are the Key Emerging Trends in the Cataract Surgery Devices And Equipment Market for the Next Decade?
Key companies in the cataract surgery devices and equipment market are striving to improve surgical results and accuracy through the introduction of innovative products like the VERITAS Vision System. This next-generation phacoemulsification system is specifically designed to enhance patient safety, comfort, and surgeon efficiency. For example, Johnson & Johnson, a leading American pharmaceutical, biotech, and medical technology firm, unveiled the Tecnis PureSee intraocular lens (IOL) in February 2024. This IOL, distinct for its innovative refractive design, delivers consistent high-quality vision, with exceptional contrast and performance even in low light, comparable to monofocal IOLs. Despite cataract surgery being the most commonplace surgery across the globe— with some 28 million procedures conducted every year— only 10-15% of patients receive advanced optical IOLs that are designed to correct astigmatism and presbyopia. As it currently stands, when choosing an IOL, patients and surgeons often have to weigh benefits against potential downsides, such as the possibility of clear vision at all distances versus the risk of experiencing halos or glares. These considerations are addressed by the TECNIS PureSee, which boosts the overall outcomes for both patients and surgeons.
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How Are the Key Segments of the Cataract Surgery Devices And Equipment Market Driving Opportunities and Innovations?
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
Which Regions Are Making a Mark in the Cataract Surgery Devices And Equipment Market Growth?
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.
What Does the Definition of the Cataract Surgery Devices And Equipment Market Include?
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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