Increase in prevalence of cataract diseases, technological advancements in ophthalmic devices, and growth in incidence of ocular disorder have boosted the growth of the global cataract surgery devices market. The market across North America held the largest share in 2020, accounting for around two-fifths of the market. The Covid-19 pandemic natively affected the market due to decline in number of patient visits in hospitals & clinics for cataract surgery and suspension of numerous elective procedures and outpatient visits.
/EIN News/ —
Portland, OR, June 22, 2022 (GLOBE NEWSWIRE) —
As per the report published by Allied Market Research, the global Cataract Surgery Devices Market was pegged at $8.33 billion in 2020, and is estimated to reach $12.23 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030.
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Increase in prevalence of cataract diseases, technological advancements in ophthalmic devices, and growth in incidence of ocular disorder have boosted the growth of the global cataract surgery devices market. However, lack of healthcare insurance and less awareness among individuals about benefits of cataract surgery hinder the market growth. On the contrary, rise in government programs to reduce the burden of cataract-related diseases would open new opportunities in the future.
- The Covid-19 pandemic natively affected the market due to decline in number of patient visits in hospitals & clinics for cataract surgery and suspension of numerous elective procedures and outpatient visits.
- However, the market is expected to recover with resumption of activities across various domains and approval and administration of Covid-19 vaccines.
The report segments the global cataract surgery devices market on the basis of product, type, end user, and region.
|Revenue forecast in 2030||USD 12.2 Billion|
|Growth rate||CAGR of 3.9% from 2021 to 2030|
|Forecast period||2022 – 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||U.S.; Canada; Germany; U.K.; France; Italy; Spain; Japan; China; India; South Korea; Australia; Brazil; Mexico; South Africa; Saudi Arabia|
|Key companies profiled||HumanOptics AG, PhysIOL S.A., Calhoun Vision Cente, EyeKon Medical, Inc., Allergan Inc., VisionCare Ophthalmic Technologies, Inc., Essilor International S.A., Lenstec, Inc., STAAR Surgical Company, Glaukos Corporation, and Sonomed Escalon.|
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Based on product, the intraocular lens segment held the lion’s share in 2020, accounting for around two-fifths of the market. However, the phacoemulsification equipment segment is projected to register the highest CAGR of 4.4% during the forecast period.
On the basis of end user, the hospitals segment held the largest share in 2020, contributing to more than half of the market. However, the ophthalmic clinics segment is anticipated to manifest the highest CAGR of 4.9% from 2021 to 2030.
Based region, the market is analyzed across several regions including Asia-Pacific, LAMEA, North America, and Europe. The market across North America held the largest share in 2020, accounting for around two-fifths of the market. However, the market across Asia-Pacific is expected to reach $5.3% from 2021 to 2030.
The global cataract surgery devices market includes an in-depth analysis of the prime market players such as Abbott Laboratories, Carl Zeiss Meditec AG, Novartis AG, HAAG-Streit Holding AG, Essilor International S.A., Nidek Co., Ltd., Johnson & Johnson, Valeant Pharmaceuticals International, Inc., Topcon Corporation, and Ziemer Ophthalmic Systems AG.
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