Glaucoma and Cataract Surgery Devices Market was valued at $164 million in 2016, and is expected to reach $321 million by 2023, registering a CAGR of 10.1% from 2017 to 2023.
Glaucoma is a group of eye diseases characterized by damage to the optic nerve, often associated with increased intraocular pressure. Cataracts, on the other hand, involve the clouding of the lens inside the eye, leading to blurry vision. Surgery is often required to manage these conditions and restore vision.
The glaucoma and cataract surgery devices market has witnessed significant growth in recent years due to various factors. Firstly, the increasing prevalence of glaucoma and cataracts, primarily driven by aging populations worldwide, has contributed to the rising demand for surgical interventions. As the number of patients requiring treatment for these conditions increases, the demand for surgery devices and instruments also grows.
Advancements in surgical techniques and technologies have further fueled the market’s growth. Minimally invasive surgeries, such as laser-assisted cataract surgery and microinvasive glaucoma surgery (MIGS), have gained popularity due to their improved safety profiles, faster recovery times, and better outcomes for patients. These procedures often require specialized surgical devices and instruments, driving the demand in the market.
Glaucoma and Cataract Surgery Devices Market Key Trends
- Technological Advancements: The market is witnessing rapid technological advancements in surgical devices and instruments. This includes the development of advanced imaging systems for precise diagnosis and treatment planning, innovative surgical techniques such as laser-assisted cataract surgery and microinvasive glaucoma surgery (MIGS), and the integration of robotics and artificial intelligence (AI) in surgical procedures.
- Minimally Invasive Surgeries: There is a growing preference for minimally invasive surgical procedures for both glaucoma and cataracts. These procedures offer benefits such as smaller incisions, faster recovery times, reduced complications, and improved patient outcomes. The market is witnessing the emergence of new devices and instruments specifically designed for minimally invasive surgeries.
- Expansion of MIGS: Microinvasive glaucoma surgery (MIGS) has gained significant traction in recent years. MIGS procedures provide an alternative to traditional glaucoma surgeries by utilizing small incisions and implanting devices to lower intraocular pressure. The market is experiencing the development of new MIGS devices and techniques to provide effective and less invasive treatment options for glaucoma patients.
- Combination Devices: Combination devices that address both glaucoma and cataract conditions are becoming increasingly prevalent. These devices offer the advantage of treating both conditions simultaneously during a single surgery, reducing the need for multiple procedures and optimizing patient outcomes. The market is witnessing the development of innovative combination devices that offer improved safety and efficacy.
- Growing Demand in Emerging Markets: The glaucoma and cataract surgery devices market is expanding in emerging markets, including Asia Pacific, Latin America, and the Middle East. Factors such as increasing healthcare expenditure, improving healthcare infrastructure, and rising awareness about eye diseases are driving the demand for advanced surgical devices in these regions.
- Focus on Patient Safety and Outcomes: There is a growing emphasis on patient safety, comfort, and satisfaction in glaucoma and cataract surgeries. Manufacturers are developing devices and instruments that minimize the risk of complications, improve surgical precision, and enhance post-operative recovery. Additionally, patient-centric factors such as reduced dependency on glasses and better visual outcomes are receiving increased attention.
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Market Segmentations:
Global Glaucoma and Cataract Surgery Devices Market: By Company
• Alcon
• Johnson & Johnson
• Bausch & Lomb
• Topcon Corporation
• Lumenis
• Allergan
• Carl Zeiss Meditec
• Essilor International
• HAAG-Streit Holding
• Nidek
• Ziemer Ophthalmic Systems
• Ellex Medical Lasers
• Santen Pharmaceutical
• Abbott Laboratories
• Zabbys
• STAAR Surgical Company
• Hoya Corporation
• Aurolab.
Global Glaucoma and Cataract Surgery Devices Market: By Type
• Glaucoma Surgery Device
• Cataract Surgery Device
Global Glaucoma and Cataract Surgery Devices Market: By Application
• Hospital
• Ophthalmology Clinic
• Outpatient Surgical Center
Global Glaucoma and Cataract Surgery Devices Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Glaucoma and Cataract Surgery Devices market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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- Quantitative, qualitative, value (in USD million), and volume (in units million) data are among the segments and sub-segments.
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Key Questions Answered in This Report:
- How has the global Market performed so far and how will it perform in the coming years?
- What are the key regional Markets?
- What has been the impact of COVID-19 on the global Market?
- What is the breakup of the Market based on the type?
- What is the breakup of the Market based on the application?
- What is the breakup of the Market based on the manufacturing process?
- What is the breakup of the Market based on the price range?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global Market and who are the key players?
- What is the degree of competition in the industry?
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