Tag: cataract surgery devices and equipment market

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What Major Innovations Are Driving the Accelerated Growth of the Cataract Surgery Devices And Equipment Market?

The upward trend in the elderly population is anticipated to fuel the progress of the cataract surgery devices and equipment market moving forward. The elderly demographic comprises individuals who are 65 years old or older. As this segment of the population ages, they become more susceptible to cataracts, leading to a heightened demand for cataract surgery devices to address the resulting vision issues. This surge in elderly demographics thus boosts the demand for cataract surgery operations and corresponding equipment. For example, the Population Reference Bureau (PRB), a private non-profit organization in the US, projected in January 2024 that the count of Americans aged 65 and over will surge from 58 million in 2022 to 82 million by 2050, marking a 47% swell. Moreover, it’s predicted that this demographic will account for an increasing share of the total population, rising from 17% to 23%. This demographic shift indicates a notable aging pattern within the U.S. populace, underscoring the growing necessity to cater to the needs of senior citizens across various sectors. Hence, the increasing elderly population is a principal driver pushing the growth of the cataract surgery devices and equipment market.

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#What is the Anticipated CAGR of theCataract Surgery Devices And Equipment Market, and What Factors Will Drive It?

In recent years, we’ve observed significant growth in the cataract surgery devices and equipment market. The market worth, which is expected to rise from $14.94 billion in 2024 to $15.88 billion in 2025, will increase at a compound annual growth rate (CAGR) of 6.3%. Factors contributing to this past growth include an aging population, an increase in cataract cases, heightened patient awareness, government-led vision care initiatives, and a rise in healthcare spending.

In the upcoming years, the cataract surgery devices and equipment market is predicted to experience consistent growth. By 2029, it is projected to expand to $18.15 billion, with a compound annual growth rate (CAGR) of 3.4%. This growth during the forecast period is due to several factors including heightened attention to outpatient surgery, customized intraocular lenses, value-driven healthcare models, worldwide vision care campaigns and global eye health initiatives. Significant trends during the forecast period encompass the incorporation of artificial intelligence (ai), the use of teleophthalmology and remote consultations, rapid advancements in technology, enhancement in intraocular lens technology, and progress in femtosecond laser technology and surgical techniques.

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What Are the Most Significant Market Trends Transforming theCataract Surgery Devices And Equipment Market?

Top corporations in the cataract surgery devices and equipment sector are creating groundbreaking products like the VERITAS Vision System to enhance surgical precision and results. The VERITAS Vision System is an advanced phacoemulsification system aimed at enhancing patient security, surgical efficiency, and comfort. For example, Johnson & Johnson – a company based in the United States that specializes in pharmaceuticals, biotechnology, and medical technologies – introduced the Tecnis PureSee intraocular lens (IOL) in February 2024. The design of the TECNIS PureSee IOL is novel, purely refractive, providing consistent, excellent vision with incredible contrast and performance in low light, rivaling monofocal IOLs. Across the globe, cataract surgery is the most frequently conducted procedure, with nearly 28 million surgeries performed each year. Nevertheless, only 10-15% of patients receive high-end optical IOLs intended for astigmatism and presbyopia. Currently, a compromise is needed when surgeons and patients select an IOL, such as choosing between clear vision at all distances and possible glares or halos. The TECNIS PureSee addresses these issues, enhancing the outcome for both surgeons and patients.

What Are the Top Market Players Propelling the Growth of theCataract Surgery Devices And Equipment Industry?

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 Primary Segments of the Cataract Surgery Devices And Equipment Market Are Driving Growth and Industry Transformations?

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 Key Players in the Growth of the #What Major Innovations Are Driving the Accelerated Growth of the Cataract Surgery Devices And Equipment Market?# 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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How has the cataract surgery devices and equipment market grown in recent years?

Recent years have seen robust growth in the market size for cataract surgery devices and equipment. It is set to increase from $14.94 billion in 2024 to $15.88 billion in 2025, following a compound annual growth rate (CAGR) of 6.3%. This growth in the previous period has been driven by factors such as the ageing populace, a higher incidence of cataracts, improved patient awareness, government-initiated vision care programs, and a rise in healthcare spending.

How is the cataract surgery devices and equipment market size expected to evolve during the forecast period?

In the coming years, the sulfur market size is predicted to experience significant expansion. It is anticipated to increase to $33.33 billion in 2029, with a compound annual growth rate (CAGR) of 11.2%. The expansion during the forecast period can be credited to the rising demand in agriculture and fertilizer, environmental regulations, the growing chemical industry, advancements in the energy sector, as well as technological progress in healthcare. Key trends for the forecast period include a rise in demand for elemental sulfur in agriculture, usage of sulfur in pharmaceuticals and personal care items, growth in vulcanization processes, an upsurge in exploration of sulfur deposits, along with sulfur as a cathode material in batteries.

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Which key drivers are propelling the cataract surgery devices and equipment market’s growth?

The expected increase in the elderly population presents an opportunity for the expansion of the cataract surgery devices and equipment market. Individuals 65 years and older, often referred to as the geriatric population, are more susceptible to cataracts as they continue to age. This, in turn, is spurring a surge in demand for cataract surgery devices, to mitigate the associated loss of vision. As such, the demographic trend towards an aging population is triggering a subsequent need for cataract surgery procedures and related devices. For example, Population Reference Bureau (PRB), a private non-profit organization based in the U.S., predicts that the American population aged 65 and over will see an increase from 58 million in 2022 to 82 million by 2050, marking a 47% growth. Furthermore, this demographic’s share of the total population is anticipated to grow from 17% to 23%, signifying a trend towards aging in the U.S population. This demographic projection underscores the importance of catering to the needs of the older population in various sectors. Consequently, this expanding elderly population is fueling the growth of the cataract surgery devices and equipment market.

What are the market segments in the cataract surgery devices and equipment industry?

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 leading companies are shaping the growth 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

What key trends are currently impacting the cataract surgery devices and equipment market’s development?

Leading businesses in the cataract surgery devices and equipment market like Johnson & Johnson are introducing innovative solutions such as the VERITAS Vision System to enhance surgical precision and outcomes. The VERITAS Vision System, a state-of-the-art phacoemulsification system, is designed bearing in mind patient safety, surgeon efficiency, and comfort. On a related note, in February 2024, the US-based pharmaceutical, biotechnology and medical technologies giant, Johnson & Johnson, rolled out the Tecnis PureSee intraocular lens (IOL). This lens, thanks to its groundbreaking, purely refractive design, provides consistently high-quality vision with extraordinary contrast and low light performance, on par with that of monofocal IOLs. Cataract surgery is the most frequently performed surgery worldwide with about 28 million procedures taking place each year. However, only 10-15% patients get treated with advanced optical IOLs specially designed for astigmatism and presbyopia. Presently, surgeons and patients must make compromises while selecting an IOL, for example, choosing between clear vision at all distances or the possible occurrence of glares or halos. The TECNIS PureSee addresses these issues, improving overall outcomes for patients and surgeons alike.

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Which geographic areas are influencing the growth of 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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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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With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

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Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

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