Cataract Surgical Devices Market

Cataract Surgical Devices Market Size Survey Report – In a Glance

As per the survey report on global Cataract surgical devices market, the market is projected to foresee a CAGR of CAGR value 3.5% between 2024-2033, and further generate a market size of USD 12.8 billion revenue by the end of 2033. In the year 2024, the market size was valued at USD 9.3 billion revenue.

• The global Cataract surgical devices market is projected to grow on account of the escalating cataract cases.
• In Japan, the Cataract surgical devices market growth can be attributed to the surge in healthcare expenses.
• KDMI analyst’s growth analysis foresees surgical challenges in cataract surgery to challenge the market growth.
• North America, having the highest market share in the Cataract surgical devices market, is projected to dominate the global market.

Cataract Surgical Devices Market Analysis

Cataract surgical devices are advanced surgical tools used to eliminate a clouded lens and implant an artificial intraocular lens (IOL), ensuring safe, accurate, and effective eye surgery for clearer vision. An upsurge in cataract occurrences is anticipated to be a key factor in propelling the cataract surgical devices market forward. An escalating number of cataract cases is paving the way for the expansion of cataract procedures, which, in turn, will enhance the market growth. Moreover, 60% of cataract patients are females but males have a 1.39 times higher probability of undergoing cataract surgery than females. Alcon (Part of Novartis AG), Johnson and Johnson Services Inc., STAAR SURGICAL, are some of the significant parties in the global market for Cataract surgical devices.

Analyst’s Observation on Japan Cataract Surgical Devices Market Survey

In Japan, the market growth for Cataract surgical devices can be attributed to the surge in healthcare expenses. The rise in healthcare spending in Japan is due to advancements in medical science and an expanding aging society. Besides, older individuals are more likely to fall ill, causing them to visit hospitals frequently and an increased demand for a larger variety of medications, increasing medical expenditures. In 2040, total healthcare spending is projected to hit almost ¥89 trillion which is more than 1.6 times the 2023 level. Therefore, this surge in healthcare expenses is also responsible for the growth of the cataract surgical devices market. Alcon Japan Ltd, Carl Zeiss Meditec AG Japan and Tomey Corporations are some of the significant parties in the market for Cataract surgical devices in Japan.

Cataract Surgical Devices Market Growth Drivers and Challenges

Growth Drivers

Growing incidence of diabetes:

Diabetes and similar chronic conditions speed up cataract development due to persistently high blood sugar. A spike in blood sugar causes fluid retention, swelling, and blurriness. It also degrades lens proteins, causing cataract growth. Moreover, reduced blood circulation limits nutrient flow, further depriving the lens of essential nutrients. Research indicates that individuals with diabetes could have up to five times higher risk of developing cataracts. IDF forecasts predict that 1 in 8 adults, approximately 783 million, will be living with diabetes by 2045. As diabetes rates climb, the number of diabetic cataract cases continues to rise. As a result, diabetics tend to develop cataracts more quickly than those without the disease, significantly affecting their vision over time and eventually pushing the cataract surgical devices market forward.

Ongoing technological progress:

Ongoing technological progress in cataract surgical technologies has revolutionized eye care. These advancements have been key drivers of cataract surgical devices market expansion. Manufacturers are continuously innovating new materials, designs, and techniques to enhance surgical precision and patient safety. A major milestone is femtosecond laser-assisted cataract surgery (FLACS) which provides unmatched precision in incisions. Also, the evolution of advanced intraocular lenses (IOLs) has improved patient outcomes, reducing dependence on eyeglasses. Progress in technology depends on research and development (R&D) which cultivates innovation, boosts efficiency, and generates novel solutions. Moreover, R&D nurtures discoveries, enhances existing technologies, and fuels industry growth. It was found that the total global R&D spending has nearly increased three-fold from about USD 1 trillion in 2000 to over USD 2.75 trillion in 2023.

Restraints

Surgical challenges in cataract surgery:

The surgical treatment of cataracts is a complicated process due to the negative effects associated with cataract tools. A large number of patients frequently encounter post-surgery challenges like puffy eyelids, increasing intraocular pressure, irritation, and other allergic reactions. Despite widespread awareness of the advantages of cataract surgery, the potential complications associated with it prevent many patients from opting for the surgery, thereby, limiting the cataract surgical devices market.

Financial burden of cataract surgery:

The elevated cost of cataract surgery curbs the growth of the cataract surgical devices industry by reducing accessibility, particularly in financially weaker areas. Many patients postpone or avoid surgery due to financial constraints, decreasing the demand for cataract surgical equipment. Moreover, hospitals may refrain from purchasing advanced tools, impeding market advancement in the coming years.

Cataract Surgical Devices Market Segmentation

Our experts at KD Market Insights have segmented the global Cataract surgical devices market research report as:

Cataract Surgical Devices Market Regional Synopsis

North America is a key player in the global market and is holding a dominant share in the cataract surgical devices market. In the region, the market is mainly powered by the growing burden of eye disorders, heightened healthcare spending, supportive government regulations, the existence of top market players, and a well-developed healthcare system. The United States holds the major market share because of the presence of high-tech solutions, escalating rate of eye diseases, and growing emphasis by key players to bring new products within the country. As per findings, 90 million Americans over 40 will be dealing with vision and eye problems by 2050 and cataracts will increase 87%.

Asia-Pacific (APAC) is likely to attain the fastest growth rate in the cataract surgical devices market on account of booming economies like India and China. The market in the region is mainly stimulated by the growing incidence of eye diseases such as cataracts, glaucoma, and other ocular disorders. Furthermore, the surging senior population, increasing healthcare spending, and accelerating number of eye injury cases are also driving the regional market growth. Besides that, with one of the oldest populations in the world and heightened technological progress, Japan is also contributing to the market. In addition, a large number of diabetic patients reside within the region due to greater adoption of sedentary lifestyles and unhealthy eating habits, eventually boosting the sales of cataract surgical devices and steering the market forward.

In Europe, the cataract surgical devices market is recording remarkable growth due to several driving factors such as growing awareness about eye health, a well-established healthcare framework, and an increasing number of older individuals. While in Latin America, the substantial growth of the market is due to surging consciousness about eye correction treatments. Moreover, a large number of people in countries such as Brazil and Mexico are looking for medical solutions for illnesses such as cataracts and glaucoma because of the growing emphasis on eye health education and improved flow of information. On the other hand, in Middle East and Africa, the market is flourishing quickly due to the rising healthcare investments for better eye care services and increasing elderly demographic. In addition to that, the availability of cutting-edge medical technologies for glaucoma implants and retinal prosthetics in Saudi Arabia is further fueling the market growth.

As per our analysts at KD Market Insights, the following five players lead the North America Cataract surgical devices market growth:

• Alcon Inc. (U.S)
• Abbott Laboratories (U.S.)
• Allergan Inc. (U.S.)
• Bausch & Lomb Inc. (U.S.)
• STAAR Surgical Company (U.S.)

Cataract Surgical Devices Market Competitive Landscape

Some of the key players who top the global Cataract surgical devices market share:

• Alcon (Part of Novartis AG)
• Johnson and Johnson Services, Inc.
• ZEISS International
• Bausch & Lomb Incorporated
• STAAR SURGICAL
• Hoya Corporation
• Oertli Instrumente AG
• Rayner Intraocular Lenses Limited
• Oculentis
• SIFI S.p.A

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Cataract Surgical Devices Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Product type
      2. By Application
      3. By End-user
      4. By Region
5. Market Segmentation by Product type
   1. Phacoemulsification equipment
   2. Ophthalmic viscoelastic devices (OVD)
      1. Cohesive OVD
      2. Dispersive OVD
   3. Femtosecond lasers
   4. Intraocular lenses (IOLs)
      1. Standard Monofocal IOLs
      2. Premium IOLS
         1.  Toric IOLS
         2. Multifocal IOLS
         3. Accommodative IOLS
   5. Others
6. Market Segmentation by Application
   1. Posterior sub-capsular cataracts
   2. Cortical cataracts
   3. Nuclear sclerotic cataracts
   4. Congenital cataracts
   5. Traumatic cataracts
   6. Others
7. Market Segmentation by End-user
   1. Hospitals
   2. Ophthalmic clinics
   3. Ambulatory surgery centers
   4. Others
8. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
         4. South Korea
         5. Market Size and Forecast
         6. Key Trends and Developments
         7. Market Analysis by Product type, Application, and End-user
      5. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product type, Application, and End-user
9. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. Alcon (Part of Novartis AG)
      2. Johnson and Johnson Services, Inc.
      3. ZEISS International
      4. Bausch & Lomb Incorporated
      5. STAAR SURGICAL
      6. Hoya Corporation
      7. Oertli Instrumente AG
      8. Rayner Intraocular Lenses Limited
      9. Others
10. Strategic Recommendations
11. Appendix
    1. List of Tables
    2. List of Figures
12. References