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Cataract Surgery Devices Market Opportunity Analysis, 2018-2026

Cataract surgery devices are used during the surgical procedures to treat cataract, which is an eye disorder that causes clouding of the lens leading to defects in vision. Cataract is one of the most widespread disease causing blindness and it reduces vision ability. Cataract is often encountered to develop slowly and affect either one or both the eyes.

 

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Although cataract does not interfere with the eyesight in the early stages, it interferes with vision and may lead to blindness over the course of time. The symptoms of cataract include blurry vision, trouble with bright lights, faded colors, and trouble seeing in the night. Cataract surgery is the most commonly performed ophthalmic procedure and thus holds a great potential for the growth of cataract surgery devices market.

 

According to the American Academy of Ophthalmology, over 24.4 million Americans of age 40 years and above were affected with cataract in 2014. The same report states that by the age of 75 years, almost half of the Americans have cataracts. According to the International Agency for the Prevention of Blindness (IAPB), approximately 285 million people are visually impaired worldwide out of which around 39 million are blind and about 246 million are suffering with low vision. The report suggests that cataract and glaucoma are the prime causes of blindness across the globe in 2015. However, 4 out of 5 blind or visually impaired cases are avoidable according to the Global Facts: Blindness and Visual Impairment. Increasing cataract surgeries are fueling the growth of global cataract surgery devices market.

 

On the basis of geography, the global cataract surgery devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is the highest contributor to the global cataract devices market, owing to the number of cataract surgeries occurring in the region. According to the American Academy of Ophthalmology 2014, approximately 2 million cataract surgery procedures were performed in the U.S., out of which 21% of patients were reported to have improved quality of vision in one eye while 36% patients reported improvement in vision quality of both the eyes after the cataract surgery.

 

Moreover, the global cataract surgery devices market is expected to flourish in the Asia Pacific due to cost cutting facility of the procedure as well as increasing incidence of cataract. For instance, the manual and suture less Small-Incision Cataract Surgery (SICS) is preferred in emerging economies such as China and India, where the cost of the surgical procedures are low as compared to other procedures.

 

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Key Vendors:

Abbott Laboratories, Carl Zeiss Meditech AG, Bausch & Lomb, Inc., Allergen, Inc., Alcon, Inc., Opcon Corporation, Essilor International S.A., STAAR Surgical Company, and NIDEK Co., Ltd.

 

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