2019 Global Cataract Surgery Devices (Equipment) Market Overview, Forecasts and Analysis

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The Global Cataract Surgery Devices And Equipment Market Was Valued At About $3.4 Billion In 2018 And Is Expected To Grow To $4.15 Billion At A CAGR Of 5.1% Through 2022.”

— Abdul Wasay

LONDON, GREATER LONDON, UK, August 20, 2019 /EINPresswire.com/ — The global cataract surgery devices and equipment market was valued at about $3.4 billion in 2018 and is expected to grow to $4.15 billion at a CAGR of 5.1% through 2022. In 2018, North America was the largest region in the cataract surgery devices and equipment market. During the forecast period, Asia Pacific cataract surgery devices and equipment market is forecasted to register a CAGR of 5.5%.

The cataract surgery devices and equipment market consists of sales of cataract surgery devices and equipment and related services. Cataract surgery devices and equipment include instruments used for performing cataract surgeries such as small incision cataract surgery and extra capsular surgery in the treatment of cataract, a condition in which the lens of the eye becomes progressively opaque, resulting in blurred vision. This market does not include vision care devices and equipment, refractive surgery devices and equipment and diagnostic & monitoring ophthalmic devices and equipment. Femtosecond Lasers used in cataract surgery are included in this market.

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The major growth driver for this industry has been the global ageing population. The world population recorded an estimate of 962 million people aged 60 or above in the year 2017. This estimate is expected to show an upward trend and is expected to double by 2050. The cases of cataract in the geriatric population also expected to increase in the same proportion. According to World Health Organization, the number of cataract cases are expected to increase by 78% by 2050 in the U.S. alone. This presents a huge market for the cataract surgery equipment manufacturers in the near future by expanding the customer base due to the fast growing geriatric population. For instance, the population of China is getting older faster than anywhere else in the world, this presents a huge market for the cataract surgery device manufacturers in China.

Major challenge that is faced by this industry is the low level of awareness about eye disorders, especially cataract. Many people do not have proper knowledge about the symptoms of cataract and do not get the treatment done. This leads to potential revenue loss for the cataract surgery device manufacturers because of low number of end users. For example, as per a study done by NCBI, out of 1552 respondents 89.9% had heard of cataract but only 42% were aware of any symptom of cataract, low awareness of cataract symptoms acts as a major restraint for the cataract surgery equipment industry.

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The cataract surgery devices and equipment industry has witnessed many positive changes introduced by the market players, the most prominent one being the introduction of laser technology. The laser assisted cataract surgery is used to gather information about the lens, to make the corneal incision and for the opening in the lens capsule. The advent of laser technology has caused a significant impact over this industry by bringing in new levels of safety and accuracy and advancing cataract surgery. Femtosecond laser platforms have significantly contributed to the precision of cataract surgeries being performed and may soon surpass the traditional hand-held surgeries. For example, Abbott laboratories which lacked this technology, acquired Optimedica for $250 million to enter laser cataract surgery devices market after witnessing the huge demand and benefits of laser technology.
Cataract Surgery Devices And Equipment Global Market Report 2019 is one of a series of new reports from The Business Research Company that provides cataract surgery devices and equipment market overviews, analyzes and forecasts cataract surgery devices and equipment market size and growth for the global cataract surgery devices and equipment market, cataract surgery devices and equipment market share, cataract surgery devices and equipment market players, cataract surgery devices and equipment market size, cataract surgery devices and equipment market segments and geographies, cataract surgery devices and equipment market trends, cataract surgery devices and equipment market drivers and cataract surgery devices and equipment market restraints, cataract surgery devices and equipment market’s leading competitors’ revenues, profiles and market shares. The cataract surgery devices and equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Where To Learn More

Read Cataract Surgery Devices And Equipment Global Market Report 2019 from The Business Research Company for information on the following:

Markets Covered: global cataract surgery devices and equipment market

Data Segmentations: cataract surgery devices and equipment market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Time Series: Five years historic (2014-18) and forecast (2018-22).

Other Information And Analyses: PESTEL analysis, cataract surgery devices and equipment market customer information, cataract surgery devices and equipment market product/service analysis – product examples, cataract surgery devices and equipment market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global cataract surgery devices and equipment market in 2019 – countries offering most new opportunities

Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Cataract Surgery Devices And Equipment Industry: The report explains a number of strategies for companies in the cataract surgery devices and equipment market, based on industry trends and company analysis.

Opportunities For Companies In The Cataract Surgery Devices And Equipment Sector: The report reveals where the global cataract surgery devices and equipment industry will put on most $ sales up to 2022.

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Source: EIN Presswire