Cataract surgery is a procedure that removes clouding of the natural lens from the eye, an intraocular lens is implanted at the same time during the procedure. A person can be diagnosed with cataract by birth, or due to chemical or physical injury. The ophthalmology cataract surgery devices are used for the treatment of cataract, without causing any damage to the cornea. Cataract surgery is a low-risk procedure with an excellent record of safety and success. 

According to WHO, cataract is responsible for 51% of world blindness, which represents about 20 million people in 2010. There are three types of cataracts, such as nuclear cataracts, cortical cataracts and subcapsular cataracts. Cataract is one of the most common ocular disorders worldwide and is highly prevalent in the developed countries with rise in geriatric population. For example, as per the data enlisted National Institutes of Health (NIH), cataract is one of the leading causes for blindness worldwide and around 22 million Americans suffer from cataract and it has also stated that around 50% of the population will acquire cataract by the age of 80 years. These alarming statistics about cataract further provoke continuous technological advances to increase patient outcomes. Factors such as lack of health care insurance, lack of general awareness among people about eye disorders and poor primary health care infrastructure act as a barrier for ophthalmology cataract surgery devices market.

The cataract surgery devices market has been segmented by product type, by end-users and by geography. In terms of product type cataract surgery devices market is classified into intraocular lens (IOL), Ophthalmic Viscoelastic Device (OVD), Phacoemulsification Equipment and Femtosecond laser Equipment. Phacoemulsification is the most preferred cataract surgery device worldwide, whereas in developing countries such as China and India manual and sutureless Small-Incision Cataract Surgery (SICS) is preferred because of the lower costs of the procedure.

The adoption of foldable IOLs and advanced IOLs in emerging countries such as China and India is at a growing stage, due to factors such as reduced access to health care resources, and difference in income levels between urban and rural areas. The use of femtosecond lasers has ensured high efficiency along without any collateral tissue damages. The use of these lasers along with computer-controlled optical delivery systems has led to precise incisions without any damage to the surrounding tissues. By End-users, the market is further segmented as Hospitals, Clinics, and Ophthalmology centers.

Geographically, the global ophthalmology cataract surgery devices market is segmented as North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the ophthalmology cataract surgery devices market due to large geriatric population. According to Prevent blindness American, 17% of the U.S. population aged 40 years and older are affected by cataract, indicating that 24.4 million Americans are diagnosed with cataract. According to Novartis healthcare in 2015 nearly 4 million cataract surgeries were performed in the United States each year. Market saturation and slowing economy pose as barrier to the U.S. ophthalmology cataract surgery devices market's growth. However, Asia Pacific market is expected to grow at a lucrative growth rate owing to factors such as growing population, economic development in countries such as India and China support the market growth.

The major players operating in the global ophthalmology cataract surgery devices market include Carl Zeiss Meditech AG (Germany), Abbott Laboratories (U.S.), Alcon, Inc., Allergan, Inc. (U.S.), Bausch & Lomb, Inc. (U.S.), Essilor International S.A. (France), opcon Corporation (Japan), NIDEK Co., Ltd. (Japan), STAAR Surgical Company (U.S.) among other significant players worldwide.

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
  • Europe
  • 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.

2. Insights and Tools

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.

3. Actionable Results

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.

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Ophthalmology Cataract Surgery Devices Market

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