Cataract Surgery Devices Market is predicted to advance at a CAGR of 5% by 2032: Unraveling the Myths and Misconceptions | Says FMI

The market for medical devices used in the surgical treatment of cataracts, a disorder characterised by the clouding of the eye’s lens, is referred to as the “Cataract Surgery Devices Market.” One of the most common surgical operations performed worldwide is cataract surgery, which entails the removal of the clouded lens and its replacement with an artificial intraocular lens (IOL).

During cataract surgery, the eye’s natural lens is taken out and replaced with an artificial lens to help the eye regain its vision. Most cataract sufferers experienced blurred vision, if not complete blindness, without having the cataract surgically removed. The cataract must be surgically removed in order to restore vision and restart a clear view of the outside world. Because cataract surgery is often an outpatient procedure, the majority of patients check out of the hospital as soon as possible.

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The market for equipment used in cataract surgery was valued at US$ 7.4 billion in 2020, and from 2022 to 2032, it is anticipated to increase at a CAGR of 5%. Cataracts, the most common cause of vision impairment worldwide, are a particular problem in developing countries where they commonly cause blindness. According to the National Institute of Eye. The risk of cataract increases with each succeeding decade of life starting around the age of 40. By the time they turn 75, half of Americans have cataracts. By the time they are 80 years old, 70% of Americans have cataracts.

Cataract Surgery Devices Market: Drivers and Restraints

The ageing population and rising frequency of ocular illnesses are the two main factors driving the global market for cataract surgical instruments.

The ageing population, rising ocular condition prevalence, global healthcare technological improvement, and expansion of emerging nations are all fueled by the global market for cataract surgery instruments. However, there are some factors that function as a barrier for this market, including a lack of healthcare insurance, a lack of general public awareness regarding eye problems, and inadequate primary healthcare infrastructure.

Cataract Surgery Devices Market: Overview 

The invention, manufacture, and distribution of medical tools and equipment used in cataract surgery procedures is referred to as the “cataract surgery devices market.” The most frequent surgical method used to treat cataracts, or clouding of the natural lens of the eye, is cataract surgery. In order to restore vision clarity, the hazy lens is removed during surgery and replaced with an artificial intraocular lens (IOL).

A number of factors, such as the increased frequency of cataracts worldwide, the ageing population, improvements in surgical methods and technology, and the expanding demand for minimally invasive procedures, are driving the market for cataract surgery equipment. Elderly people are more likely to have cataracts, and as the world’s population ages, more cataract procedures are being performed.

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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

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

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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)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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