Uncover key drivers, emerging technologies, and competitive movements shaping the cataract surgery devices and equipment market from 2025–2034 with trusted insights from The Business Research Company
How Is The Cataract Surgery Devices And Equipment Market Size Expected To Expand Over 2029-2034?
The market for cataract surgery devices and equipment has experienced consistent expansion over recent years. This market is projected to expand from $13.97 billion in 2024 to $14.52 billion by 2025, demonstrating a compound annual growth rate (CAGR) of 3.9%. Historically, this growth can be ascribed to factors such as an aging global population, a higher occurrence of cataracts, increased patient understanding, government programs promoting vision health, and rising spending on healthcare.
The cataract surgery devices and equipment market size is anticipated to show consistent expansion over the next few years. It is forecast to rise to $16.64 billion by 2029, achieving a compound annual growth rate (CAGR) of 3.5%. This growth in the projection period can be linked to an increasing emphasis on outpatient surgery, personalized intraocular lenses, value-based healthcare frameworks, international vision care initiatives, and global programs for eye health. Significant trends expected in the forecast period involve the adoption of artificial intelligence (AI), teleophthalmology and distant consultations, swift technological advancements, enhancements in intraocular lens technology, progress in surgical methods, and femtosecond laser technology.
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Which Market Factors Are Fueling The Cataract Surgery Devices And Equipment Industry Growth?
The expansion of the geriatric population is anticipated to fuel the growth of the cataract surgery devices and equipment market. This demographic, defined as individuals aged 65 and over, exhibits a greater propensity to develop cataracts with advancing age. This increased vulnerability, leading to vision impairment, is consequently driving up the demand for cataract surgery devices and related procedures. For instance, data from January 2024, provided by the Population Reference Bureau (PRB), a US-based private non-profit organization, indicates that the population of Americans aged 65 and older is projected to rise significantly from 58 million in 2022 to 82 million by 2050, marking a 47% increase. Concurrently, this age group’s proportion within the total U.S. population is expected to climb from 17% to 23%. This trend underscores a considerable aging shift in the U.S. population, emphasizing the escalating importance of addressing the needs of older adults across various sectors. Hence, the increasing geriatric population serves as a key driver for the cataract surgery devices and equipment market.
Which Categories Are Covered In The Cataract Surgery Devices And Equipment Market Segmentation Analysis?
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
Which Market Trends Are Expected To Define The Future Of The Cataract Surgery Devices And Equipment Market?
Leading companies in the cataract surgery devices and equipment market are introducing innovative products like the VERITAS Vision System to boost surgical accuracy and patient outcomes. The VERITAS Vision System, a next-generation phacoemulsification system, is engineered to enhance patient safety, surgeon efficiency, and comfort. For example, in February 2024, Johnson & Johnson, a US-based pharmaceutical, biotechnology, and medical technologies company, unveiled its Tecnis PureSee intraocular lens (IOL). The TECNIS PureSee IOL boasts an innovative, purely refractive design, ensuring consistent, high-quality vision with superior contrast and low-light performance, comparable to monofocal IOLs. Worldwide, cataract surgery remains the most frequently performed operation, accounting for approximately 28 million procedures annually. Despite this, only 10-15% of patients are fitted with advanced optical IOLs tailored for astigmatism and presbyopia. Presently, both surgeons and patients encounter compromises during IOL selection, often involving a trade-off between achieving clear vision at all distances and potential glares or halos. The TECNIS PureSee aims to resolve these issues, thereby improving overall outcomes for both patients and surgeons.
Which Organizations Are At The Forefront 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
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Which Geographic Areas Are Driving Strong Demand For 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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