Global Cataract Surgery Devices Market: Overview
Cataract surgery refers to the process that assists in the removal of clouding of natural lens from the affected eye. An individual can be affected by cataract at birth or later due to physical or chemical injury. Cataract surgery devices find use in the treatment of cataract and these devices do not cause any damage to the cornea. This surgery comes with an excellent record of success and safety and is a low-risk procedure. The development of the global cataract surgery devices market can be ascribed to increased prevalence of incidences of cataract. In addition, rising geriatric population who are more inclined toward contacting various ophthalmologic diseases particularly cataracts.
According to World Health Organization (WHO), a large chunk of the cases of blindness is caused by cataract. Subcapsular cataracts, cortical cataracts, and nuclear cataracts are the three different types of cataracts. One of the most common ocular disorder, cataract has very high prevalence in the developed countries due to the presence of a large base of geriatric population. This factor is likely to support developments in the global cataract surgery devices market in the years to come.
Product type, application, and region are important factors in the market that has been considered for the classification of the global cataract surgery devices market.
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Global Cataract Surgery Devices Market: Notable Developments
Entry of many new firms in the market is likely to make the competition tougher for all the players in the global cataract surgery devices market in the years to come. Expansion in the base of geriatric population who are prone to ocular diseases is driving market players to come up with innovative and low-risk devices. In addition, established players to maintain their positions are adopting strategies like acquisitions and mergers.
Some of the major players in the global cataract surgery devices market are
- Valeant Pharmaceuticals International, Inc
- Johnson & Johnson
- Carl Zeiss Meditec AG
- Ziemer Ophthalmic Systems AG
- HAAG-Streit Holding AG
- Abbott Laboratories,
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Global Cataract Surgery Devices Market: Key Trends
The factors that are expected to offer a glimpse into the nature of the global cataract surgery devices market are mentioned below
Demand to Rise on the Increasing Cases of Cataract Worldwide to Boost Market Growth
Earlier, cataract surgery was a major process that required several days of stay at hospitals. With the continuous development of technology in devices of cataract surgery and the process itself, these surgeries are done as an outpatient procedure. Coming up of advanced surgical techniques along with innovative devices have led to better outcome in patients. Advanced procedures, such as laser-assisted cataract surgery, customized intraocular lenses, small incision cataract surgery, and phacoemulsification create accurate, precise, and bladeless incisions. Such advancements in the instruments and techniques of cataract surgery are likely to foster growth of the global cataract surgery devices market over the assessment timeline, from 2020 to 2030.
There has been augmented access to cataract surgery in the developing parts of the world, which is likely to play an important role in the expansion of the global cataract surgery devices market. Manufacturers of cataract surgery devices are taking steps to better and expand access to cataract surgery in developing parts of the world. Besides, increased awareness about the tools of cataract surgery amongst ophthalmologists and healthcare professionals are likely to benefit growth of the global cataract surgery devices market over the analysis timeline, from 2020 to 2030.
Global Cataract Surgery Devices Market: Geographical Analysis
North America is estimated to emerge as one of the high revenue generating region in the global cataract surgery devices market. Presence of advanced healthcare infrastructure along with government programs encouraging people to go for tests and treatments in the region is likely to propel expansion of the regional market. In addition, presence of several leading market players in the region is likely to add to the add to the growth of the cataract surgery devices market in North America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.