The global cataract surgery market is predicted to witness a compound annual growth rate of 5.02% during the forecast period to reach a total market size of US$3.027 billion by 2023, increasing from US$2.256 billion in 2017. Cataract Surgery is the replacement of the natural lens of an eye, with an artificial lens that is aimed at restoring normal vision. Need for the surgery arises when metabolic changes of the lens fibers over time lead to the growth of the cataract causing impairment or loss of vision. The market for cataract surgery is driven by rising aging population, increased exposure to ultraviolet light, rise in the number of smokers, incline in diabetic population and increase in the prevalence of ocular disorders. Increased medical research and growing healthcare spending and awareness have bolstered growth in the market. Asia- Pacific is the largest market for cataract surgery, while North America has high growth rate owing to a healthy healthcare landscape.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the global cataract surgery value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the market.
This Section deals with major players in the market, their market shares, products, growth strategies, financials, and recent investments among others. Key industry players in the cataract surgery device market are Carl Zeiss Meditech AG, Bausch & Lomb Inc., Alcon Incorporated, NIDEK Co. Ltd., Essilor International S.A, LEnstec and Novartis among others.
The Cataract Surgery market has been segmented by technique, device type, end user and geography as below:
Extracapsular Cataract Extraction
Laser-Assisted Cataract Surgery
By Device Type
Eye Care Centres
Academic and Research Institutions
Middle East and Africa
Asia Pacific (APAC)