The Cataract Surgery Devices Market refers to the market for medical devices used in the surgical treatment of cataracts, a condition characterized by the clouding of the lens of the eye. Cataract surgery is one of the most commonly performed surgical procedures worldwide and involves the removal of the cloudy lens and its replacement with an artificial intraocular lens (IOL).
The natural lens of the eye is removed during cataract surgery and replaced with an artificial lens to help the eye regain its eyesight. The majority of individuals with cataracts suffered from clouded vision, if not total blindness, without having the cataract surgically removed. The only method to recover vision and resume clear view of the outside world is through surgical removal of the cataract. The majority of patients leave the hospital right away following cataract surgery because it is typically an outpatient treatment.
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The market for devices used in cataract surgery was estimated to be worth $7.4 billion in 2020, and it is expected to grow at a CAGR of 5% from 2022 to 2032. The most frequent cause of visual impairment in the globe, cataracts are a particular issue in developing nations where they frequently result in blindness. The National Institute of Eye says. Beginning about the age of 40, the risk of cataract rises with each subsequent decade of life. Half of Americans have cataracts by the age of 75. Seventy percent of Americans have cataracts by the age of 80.
Cataract Surgery Devices Market: Drivers and Restraints
Cataract surgery devices global market is driven by the aging population, increased prevalence of ocular disorders.
Cataract surgery devices global market drives the geriatric population, increase in the prevalence of ocular disorders, technological advancement in healthcare around the globe and growth in the emerging economies. However, lack of healthcare insurance, lack of general awareness among people about eye disorders and poor primary healthcare infrastructure are some factors that act as a barrier for this market.
Cataract Surgery Devices Market: Overview
The cataract surgery devices market refers to the industry that involves the development, production, and distribution of medical devices and equipment used in cataract surgery procedures. Cataract surgery is a common surgical procedure performed to treat cataracts, which is the clouding of the natural lens of the eye. The surgery involves removing the cloudy lens and replacing it with an artificial intraocular lens (IOL) to restore clear vision.
The market for cataract surgery devices is driven by several factors, including the increasing prevalence of cataracts globally, the growing aging population, advancements in surgical techniques and technologies, and the rising demand for minimally invasive procedures. Cataracts are more common in elderly individuals, and as the global population continues to age, the number of cataract surgeries is expected to increase.
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Cataract Surgery Devices Market: Region-wise Outlook
Depending on geographic region, global cataract surgery devices marketis segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
Due to the high population Asia-pacific shows the fastest growth, and due to the large geriatric population North America and Europe have the high growth rate.
Cataract Surgery Devices Market: Key Players
Some of the key participating global market players in cataract surgery devices are Carl Zeiss Meditech AG, Bausch & Lomb Inc., Alcon Incorporated, NIDEK Co. Ltd., Essilor International S.A and others.
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Australia & New Zealand)
- Japan
- Middle East and Africa (S. Africa, N. Africa)
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