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#What Are The Current (2025) And Forecast (2029) Sizes Of The Cataract Surgery Devices And Equipment Market?
The market encompassing devices and equipment for cataract surgery has experienced consistent expansion over the past few years, projected currently valued at $13.97 billion in 2024, with an anticipated rise to $14.52 billion by 2025, reflecting a compound annual growth rate (CAGR) of 3.9% across this period; this upward trend during the historical phase results from factors such as demographic shifts toward an older populace, the mounting frequency of cataracts, heightened patient consciousness regarding eye health, supportive governmental programs aimed at improving vision care, and escalating spending within the healthcare sector.
Forecasting robust expansion, the market encompassing cataract surgery apparatus and instrumentation is projected to achieve a valuation of $16.64 billion by 2029, demonstrating a consistent compound annual growth rate of 3.5%. This upward trajectory throughout the projection timeframe stems from several key factors, notably the increasing prioritization of ambulatory surgical procedures, the rising demand for bespoke intraocular lenses, the adoption of value-centered healthcare frameworks, worldwide drives promoting vision care, and broader international endeavors aimed at enhancing ocular health. Significant shifts shaping this market during the forecast interval involve the incorporation of artificial intelligence, the expansion of teleophthalmology alongside remote diagnostic services, swift technological breakthroughs, enhancements within intraocular lens capabilities, advancements in surgical methodologies, and the utilization of femtosecond laser systems.
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What Are The Main Drivers Boosting The Cataract Surgery Devices And Equipment Industry’s Expansion?
Future expansion within the cataract surgery devices and equipment market is anticipated, largely fueled by the increasing number of elderly individuals, defined as those aged 65 and above. As this older segment of the population matures, their susceptibility to developing sight-impairing cataracts rises, thereby stimulating demand for the necessary surgical apparatus and instrumentation. Consequently, this demographic aging trend necessitates a greater volume of cataract removal operations and associated medical hardware. To illustrate this, projections from the Population Reference Bureau (PRB), a non-profit research entity in the United States, indicated in January 2024 that the cohort of US residents aged sixty-five or older is projected to swell from 58 million in 2022 to reach 82 million by the year 2050, marking a substantial forty-seven percent escalation. Furthermore, this demographic is forecast to constitute a larger share of the entire populace, moving from seventeen percent to twenty-three percent of the total count, signaling a pronounced aging trajectory for the American population, underscoring the necessity of catering to senior needs across multiple industries, which in turn serves as a key driver propelling the market forward for cataract surgery apparatus and associated gear.
What Are The Key Segments In The Cataract Surgery Devices And Equipment Market?
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
What Are The Major Trends Driving The Growth Of The Cataract Surgery Devices And Equipment Market?
Leading corporations within the domain of cataract surgery apparatus and instrumentation are focusing efforts on engineering novel solutions, exemplified by the VERITAS Vision System, aimed at elevating the precision of operations and the subsequent patient results. This VERITAS Vision System represents a state-of-the-art phacoemulsification platform, meticulously constructed to simultaneously bolster patient security, streamline the surgeon’s workflow, and maximize operator ease. To illustrate recent advancements, in the month of February 2024, Johnson & Johnson, an entity rooted in the United States renowned for pharmaceuticals, biotechnology, and medical technology, introduced the Tecnis PureSee intraocular lens, or IOL. Characterized by a novel, purely refractive architecture, the TECNIS PureSee IOL delivers a reliable, superior visual experience, boasting remarkable contrast fidelity and adeptness in dim lighting conditions, performance levels comparable to those achieved with standard monofocal IOLs. As cataract extraction holds the distinction of being the globe’s most frequent surgical intervention, approaching an estimated twenty-eight million operations each year, a notable gap exists since merely ten to fifteen percent of individuals undergoing the procedure are fitted with sophisticated optical IOLs tailored for correcting astigmatism and presbyopia. At present, practitioners and the individuals they treat are confronted with compromises when opting for an IOL, for example, balancing the benefit of seeing clearly across various ranges against the possibility of experiencing glare or light halos. The introduction of the TECNIS PureSee specifically seeks to mitigate these inherent issues, thereby improving the comprehensive outcomes realized by both the medical professionals and the recipients of the surgery.
Which Leading Players Are Enhancing Their Cataract Surgery Devices And Equipment Market Presence Worldwide?
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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What Are The Regional Market Dynamics Impacting The Cataract Surgery Devices And Equipment Industry?
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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