Cataract Devices Demand is Forecasted to Expand at a 3.7% CAGR by 2032; Intraocular Lenses hold the Largest Share of 49.7%
In order to reach US$ 19.49 billion by the end of 2032, the global market for cataract devices, which is currently valued at US$ 13.55 billion, is expected to expand at a CAGR of 3.7%.
Technical advancements that result in straightforward, risk-free therapies are revolutionising how cataract procedures are performed. The market for cataract devices, which currently accounts for 10% of the global market for ocular surgery, is predicted to increase by 300 BPS over the following ten years.
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Which Cataract Product Type is Most Widely Used?
Intraocular lenses (IOLs) are most frequently used during cataract surgery. It is anticipated that the intraocular lens market, which made up 49.7% of the overall market in 2021, will expand at a CAGR of 3.4% from 2022 to 2032.
Intraocular lenses are the most well-liked devices among ophthalmologists and their patients since they are made of silicone or acrylic, which makes them very resilient and flexible. In addition to clearing up cataracts, IOLs can safely address conditions like nearsightedness, farsightedness, and astigmatism. Since they are available in a range of shapes that meet the individual demands and preferences of patients, intraocular lenses are fairly popular on the market.
Key Companies Profiled
- Bausch & Lomb
- Carl Zeiss Meditec AG
- Alcon
- Hoya Corporation
- Staar Surgical
- NIDEK CO., LTD
- Johnson and johnson
- Aurolabs
- Biotech Healthcare Group
- Ophtec BV
- VSY Biotechnology
The macroeconomic factors that affect the growth drivers of cataract devices are explained in a brief overview provided in the report. These factors include the growth rate of the global GDP of cataract devices as well as the growth rates of several industries, including the food, pharmaceutical, and cosmetic industries.
With the help of this analysis, users can assess the market for cataract devices based on a number of factors, such as scale advantages, switching costs, brand loyalty, already-established distribution channels, equity investments, manufacturing and patent rights, governmental restrictions, advertising effects, and consumer preference impacts. It is anticipated that these summaries of the facts would help key decision-makers.
Key Findings from This Report:
- Companies share analysis in the global Cataract Devices
- The key market characteristics of demand, return on investment, supply, trade, and market growth rate in each region.
- This report offers key market participants’ profiles along with their revenue details.
- Past insights and forecasts.
- Cataract Devices Market developments and trends are discussed.
- Regional, sub-regional, and national market scenarios.
- The study also covers government policies as well as macro and microeconomic variables.
This newly published and insightful report compounds sheds light on key dynamics, Key Trends of Cataract Devices and their impact on the overall value chain from Cataract Devices to end-users, which are expected to transform the future of the Cataract Devices sales.
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In order to find the best investment possibilities, this study looks at the global Cataract Devices business, its dynamics, and future forecasts. The most recent analysis looked at market dynamics, scale insights, and data, as well as the business’s future development possibilities. A thorough examination and assessment were carried out during the report’s production. The report’s in-depth insights on the sector will benefit customers. To help better grasp the global market situation, the Cataract Devices research also contains common utilities and industry methods. The research report also includes a comprehensive analysis of the leading market competitors’ significant new technologies, marketing strategies, and market positioning.
Cataract Devices Market: Segmentation
- By Product Type:
- Phacoemulsification Equipment
- Ophthalmic Viscoelastic Devices (OVD)
- Cohesive OVD
- Dispersive OVD
- Femtosecond Lasers
- Intraocular Lenses (IOLs)
- Standard Monofocal IOLs
- Premium IOLs
- Toric IOLs
- Multifocal IOLs
- Accommodative IOLs
- By Application:
- Posterior Sub-Capsular Cataracts
- Cortical Cataracts
- Nuclear Sclerotic Cataracts
- Congenital Cataracts
- Traumatic Cataracts
- Others
- By End User:
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgery Centers
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Key Questions Covered in the Cataract Devices Market Report
- What will be the estimated size of the Cataract Devices Market in 2023?
- At what rate will sales in the global Cataract Devices Market grow until 2032?
- Which are the factors hampering the Cataract Devices and in the artificial sweetener market?
- Which region will spearhead the growth in the global Cataract Devices Market by 2032?
- Which are the factors driving sales in the Cataract Devices Market during the forecast period?
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