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.
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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
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Below is a snapshot of these quadrants.
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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?
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