Global Cataract Surgery (Intraocular Lens & Equipments) Market: Industry Analysis & Outlook (2019-2023)
- Report Description Table of Contents
Cataract is an eye disease which causes the formation of a dense and cloudy area in the lens of the eye, mostly as a result of the aging process. Around 90% of the cases are caused due to age and the remaining cases are instigated by various environmental or genetic factors. The surgical removal of cataracts is a very common procedure and is highly effective.
There are various surgical methods, which include extracapsular cataract extraction (ECCE) and intracapsular cataract extraction (ICCE), phacoemulsification (USP) and the femtosecond laser surgery (FSLS). In surgery, a damaged lens is replaced with an artificial intraocular lens, which are categorized into premium and non-premium lenses. Premium lenses are further divided into toric, accommodative, EDoF and Phacic lenses and have special additional features compared to standard lenses.
The rising ageing population and diabetic population are the main drivers for the greater adoption of cataract procedures, thereby boosting the demand for cataract surgery equipment in the market. There has been increasing growth of premium intraocular lenses globally and is expected to show further growth in coming years owing to advanced benefits offered by premium lenses.
The United States accounted for the major share of the market and had the highest cataract surgery prevalence rate in 2018. The increasing prevalence of cataract disease and advanced technologies are factors contributing to the IOL market growth in the United States. However, factors such as high-cost treatment, low awareness and lack of health insurance are challenging the market growth. The companies are expanding their business through acquisitions and new product launch in the market indicating positive outlook of the cataract surgery equipment market.
The report “Global Cataract Surgery- IOL & Equipments Market: Industry Analysis & Outlook (2019-2023)” analyzes the development of this market, with a regional focus on the United States and China. The major trends, growth drivers as well as issues being faced by the market are discussed in detail in this report. The three major players: Novartis, Johnson & Johnson, Carl Zeiss, and Bausch + Lomb are being profiled along with their key financials and strategies for growth. The report contains a comprehensive analysis of the global cataract surgery equipment market along with the study of the regional markets