Global Phacoemulsification Devices Market: Overview

Phacoemulsification is a technique used to remove cataractous lenses. During phacoemulsification, the cataract is broken down into small pieces and removed from the eye by means of ultrasound-based special phaco equipment. The procedure involves making a small incision at the edge of the cornea in order to create an opening in the surrounding lens membrane. A probe is then inserted, which breaks up the affected lens into tiny fragments, which are then sucked out. Once the lens particles are removed, an intraocular lens implant (IOL) is implanted into the lens capsule. Technical advancements in the phacoemulsification technique, which have improved its efficiency and safety, have led to a dramatic increase in its popularity. The development of viscoelastic agents with modern phacoemulsification techniques has played an integral role in the success of this technology. Improved surgical techniques to remove anterior lens capsules have decreased the incidence of both postoperative and intraoperative capsular complications. Moreover, nucleus removal, which was formerly performed mainly in the anterior chamber, is now performed in the posterior chamber, thus decreasing damage to the corneal endothelium.

Global Phacoemulsification Devices Market: Key Trends

The phacoemulsification devices market is anticipated to expand at a significant rate during the forecast period. The growth in the market can be attributed to the benefits associated with phacoemulsification devices such as smaller incision, quick recovery, no need for hospitalization, fewer intraoperative and postoperative complications, and early visual rehabilitation. Moreover, no restriction on normal activities and less induced astigmatism because of a smaller incision have resulted in the high adoption of the phacoemulsification technique for the surgical removal of cataracts.

There has been an alarming rise in the incidence of cataracts. According to the World Health Organization (WHO), nearly 18 million people are bilaterally blind from cataract globally. Cataract is a leading cause of blindness and an important cause of visual impairment across the globe. Aging is the main risk factor that causes cataracts.  Other risk factors include diabetes, smoking, trauma, and uveitis. Rise in health education initiatives about eye diseases in emerging countries prompt individuals to seek early treatment and prevent visual impairment. This is anticipated to fuel the expansion of the global phacoemulsification devices market.

Global Phacoemulsification Devices Market: Segmentation

The phacoemulsification devices market can be segmented based on power modulation, pump, end-user, and region. Based on power modulation, the market can be classified into phaco continuous power modulation, phaco pulse power modulation and phaco burst power modulation, and others. In terms of pump, the market can be categorized into peristaltic pump and venture pump. Based on end-user, the market can be segmented into hospitals, ophthalmic surgery center, and others.

Global Phacoemulsification Devices Market: Regional Analysis

In terms of region, the phacoemulsification devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is expected to account for a prominent share of the market in terms of revenue. High research and development activities in the field of ophthalmic surgery, rise in the patient population, and high disposable income are some of the factors attributed to the high market share of the region. Europe is expected to hold a significant share of the market, owing to a rise in the incidence of cataracts, high awareness among people about treatment options, and an increase in the geriatric population. The market in Asia Pacific is expected to show strong growth during the forecast period. A large patient population, increase in government initiatives to control visual impairment, and rise in investments by major players in the eye care market in countries such as India and China are expected to propel the market in Asia Pacific.

Global Phacoemulsification Devices Market: Competitive Landscape

The global phacoemulsification devices market is highly fragmented, due to the participation of many global as well as new players. Major players operating in the market are Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, Oertli Instrumente AG, Johnson & Johnson Surgical Vision, Inc., Alcon, and Medical Technical Products.

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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