Cataract Surgical Devices Market Report, Global Industry Overview, Growth Rate and Forecast 2024

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Cataract refers to the clouding of the eye's lens which results in the blurring of the vision. It develops gradually and may affect one or both the eye. Some of the symptoms of cataract include colour fading, blurring vision, appearance of halos near lights, discomfort due to bright lights, night blindness, etc. Cataract cannot be rectified with contact lenses or glasses and only a surgery can eradicate the clouded lens by replacing it with an artificial lens. A new research report by IMARC Group, titled "Cataract Surgical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" estimates that the global cataract surgical devices market was worth US$ 7.1 Billion in 2018. The report further anticipates the market to reach US$ 8.7 Billion by 2024, at a projected CAGR of 3.6% over the forecast period.

Global Cataract Surgical Devices Market Drivers/Constraints:

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Technological developments in the field of ophthalmology have increased the efficacy and safety of cataract surgeries, in turn, boosting patient confidence in the treatment. This represents another growth-inducing factor driving the market worldwide.

Various governments, particularly in the emerging nations, have initiated health schemes and programmes so as to reduce monetary burden on cataract patients, thereby creating ample opportunities for the manufacturers.

Other factors catalysing the growth of the cataract surgical devices market are a rise in the prevalence of cataract due to changing lifestyles, dependence on junk food, increase in the geriatric population, over-exposure to ultraviolet rays and rising cases of diabetes.

Browse full report with detailed TOC and list of figures and tables:

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Insights on Market Segmentation:

Breakup by Product Type

1. Intraocular Lenses

2. Ophthalmic Viscoelastic Devices

3. Femtosecond Laser

4. Phacoemulsification Equipment

5. Others

Breakup by End-Use

1. Hospitals

2. Eye Care Clinics

3. Eye Treatment and Surgical Centres

Breakup by Region

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East and Africa

Competitive Landscape:

The players in the global cataract surgical devices market are investing in R&D so as to increase their profitability and improve their product portfolio. Some of the leading players operating in the market are:

Abbott Laboratories

Hoya Corporation

Carl Zeiss Meditec AG

Alcon Laboratories, Inc.

Essilor Groupstats
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