What is Cataract Surgery Device Market?
Cataract surgery is the removal of the eye’s clouded natural lens, replacing it with an artificial lens that helps to restore vision of the eye. The devices such as intraocular lens, phacoemulsification systems, balanced salt solution, ophthalmic viscoelastic devices, forceps, irrigation set, drapes, and gloves, that are used in this cataract surgical procedure, are called cataract surgery devices. Removing the cataract by surgery is the only way to restore vision and see the world once again. According to the research, The World Health Organization (WHO) reveals that unoperated is one of the leading causes of visual impairment, having accounted for approximately 33% of the global population in 2014. It put in that about 90% of the total population of visually impaired are in developing economies. These Increasing numbers of cases are clearly indicate the increasing demand for the cataract surgery market.
The market study is being classified by Type (Equipment and Consumables), by Application (Ophthalmology Centers, Hospitals and Clinics) and major geographies with country level break-up.
STAAR Surgical Company (United States), Alcon Inc. (United States), Allergan Inc. (United States), Abbott Laboratories (United States), NIDEK Co. Ltd. (Japan), Bausch & Lomb Inc. (United States), Essilor International S.A. (France), Carl Zeiss Meditech AG (Germany) and Opcon Corporation (Japan are some of the key players profiled in the study.
The global Cataract Surgery Device market is fragmented by numerous key players who have the bargaining power high in this market as there are many regional manufacturers. The intensity of rivalry appears to be high in this market as competitors are numerous and the products are undifferentiated. Major companies in this market are constantly working towards introducing innovative products and lowering production costs in order to enhance profitability. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Cataract Surgery Device market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Cataract Surgery Device market by Type, Application and Region.
On the basis of geography, the market of Cataract Surgery Device has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- A rise in the incidences of diseases such as diabetes, obesity, and hypertension may boost the market growth
- The increasing aging population worldwide is enhancing the market growth for cataract treatment
- Lack of Skilled Professionals
- Technological advancements in ophthalmic disorder treatments is accelerating the market growth
- The high prevalence of cataract disease the world over coupled with technological advancements in ophthalmic devices favor market growth. Th
- High cost associated with cataract surgeries
Market Leaders and some development strategies
In March 2019 Alcon Switzerland based company has announced the agreement of its acquisition with PowerVision, Inc. This acquisition will help in the growth of the organization and the use of innovative advanced technology intraocular lenses (AT-IOLS) lead to the needs of cataract surgery patients who desire spectacle independence.
In June 2020 Korean-based Oculight Ophthalmic Medical Device Developer has introduced its new product name OCU L&C for the U.S. successfully developed a medical light source device to provide higher efficiency for the iChopper. In the upcoming years, Oculight expects to receive FDA regulatory clearance for the chopper and commercialize it in the U.S. through OCU L&C with selected local partners.
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Cataract Surgery Device Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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