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.
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