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.
The report offers a comprehensive evaluation of the market. It does so via in-depth insights, understanding market evolution by tracking historical developments, and analyzing the present scenario and future projections based on optimistic and likely scenarios. Each research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology developments, types, applications, and the competitive landscape.
The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
TMR estimates the market size of various sectors using a combination of available data on the number and revenue of companies within each sub-sector and tiers of companies. The basic components used to determine market size and forecast for a specific product area are not only limited to supply-side data, but are also related to demand, industry trends, and the economic outlook. All the above data points are utilized to generate a statistical model targeting the sector marketplace. More than 300 TMR analysts across the world integrate these elements into a framework to determine the subsector market size for a base year and then forecast growth within each market.
TMR regularly interviews technology and business professionals as an ongoing effort to track the latest developments within each sector. These continuous surveys are stratified by company size and industry segment and weighted to reflect the global market place. All data are collected on an ongoing effort through a structured questionnaire rolled over the web or conducted via telephones. This provides the TMR team opportunities to request for detailed question sets, complex skip patterns, and real-time calculations, which assists respondents in answering questions involving numbers and percentages. Respondents, who are interviewed as experts, are screened and qualified based on certain criteria in addition to their decision-making authority and the scope of activity within their organizations.
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.
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.