Global Cataract Surgery Devices And Equipment Market Projected to Reach $18.15 Billion by 2029 at a CAGR of 3.4%
Discover trends, market shifts, and competitive outlooks for the cataract surgery devices and equipment industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
How Fast Is The Cataract Surgery Devices And Equipment Market Expected to Grow Between 2025 And 2029?
The market size for cataract surgery devices and equipment has experienced significant expansion in recent years. It is projected to increase from $14.94 billion in 2024 to $15.88 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. The historic growth has been driven by factors such as the aging demographic, a surge in cataract cases, heightened patient awareness, the implementation of vision care initiatives by the government, and a rise in healthcare spending.
Expectations indicate a steady expansion in the coming years for the market of cataract surgery devices and equipment. It is predicted to reach $18.15 billion in 2029, experiencing a compound annual growth rate (CAGR) of 3.4%. This anticipated surge is credited to several factors such as the increasing emphasis on outpatient surgery, personalized intraocular lenses, value-based healthcare models, worldwide vision care initiatives, and global efforts towards eye health. Likely trends during this forecasted timeframe incorporate artificial intelligence assimilation, teleophthalmology, and remote consultations. Quick technological advancement, advancements in intraocular lens technology, and the evolution of surgical techniques, including femtosecond laser technology, are also expected to contribute.
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What are the Fundamental Drivers and Innovations Shaping the Cataract Surgery Devices And Equipment Market?
The surge in the elderly population is predicted to fuel the expansion of the cataract surgery devices and equipment market. With the term ‘elderly population’ referring to individuals aged 65 and over, this group is predisposed to developing cataracts, escalating the need for cataract surgery devices to rectify the resulting vision deficiencies. Therefore, there is an escalating demand for cataract surgery and related equipment due to the growing demographics of senior citizens. To illustrate, the Population Reference Bureau (PRB), a private non-profit organization in the US, forecasted in January 2024 that the population of Americans aged 65 and over will advance from 58 million in 2022 to 82 million by 2050, translating to a 47% increase. Moreover, the percentage of this age bracket in the total population is expected to ascend from 17% to 23%, denoting a notable aging trend within the US population. These projections underscore the increasing significance of meeting the needs of the elderly population across various sectors. Hence, the surge in the elderly population is contributing to the growth of the cataract surgery devices and equipment market.
How Is the Cataract Surgery Devices And Equipment Market Segmented?
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 Driving the Next Phase of 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 Key Trends Are Shaping the Future of the Cataract Surgery Devices And Equipment Market?
Leading players in the cataract surgery devices and equipment market are manufacturing innovative offerings like the VERITAS Vision System to better surgical precision and results. This next-generation phacoemulsification system was designed considering patient safety, surgeon productivity, and comfort. For instance, in February 2024, the US-based firm Johnson & Johnson, known for its work in pharmaceuticals, biotechnology and medical technologies, launched the Tecnis PureSee intraocular lens (IOL). This lens offers a novelty in purely refractive design that provides dependable, high-end vision with striking contrast and performance in low light, challenging that of monofocal IOLs. Cataract surgery is the most often performed surgery around the globe with nearly 28 million operations annually. However, only about 10-15% of patients opt for advanced optical IOLs designed for astigmatism and presbyopia. Currently, surgeons and patients must make a choice when selecting an IOL, a choice between clear vision at all distances and potential glare or halos. The TECNIS PureSee addresses these issues and improves overall results for patients and surgeons alike.
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How Is the Cataract Surgery Devices And Equipment Market Defined and What Are Its Core Parameters?
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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