Global Cataract Devices Market 2016-2020

Outlook of the cataract devices market

Technavio’s market research analyst predicts the global cataract devices market to grow at a moderate CAGR of more than 6% during the forecast period. Factors like the rising incidence of cataract and an increasingly older population are expected to propel the market for cataract devices globally during the forecast period. The number people with cataract will increase as the world population ages. With aging, certain parts of the eye develop less elasticity, affecting the normal functioning of the eyes. As most ophthalmic diseases occur after the age of 40, the rise in older population worldwide will positively influence the global cataract devices market in coming years.

In this industry report, analysts have estimated factors like the increasing awareness programs about the availability of advanced surgical procedures for cataract to propel the growth prospects of the market for cataract devices in the predicted period. These awareness programs are organized by various governmental and non-governmental organizations and vendors. For instance, WHO and the International Agency for the Prevention of Blindness together held the VISION 2020, to boost awareness about cataract. Such programs help increase awareness about the various treatments available for eyesight disorders and encouraging the use of ophthalmic drugs and devices at a global level.

Product segmentation and analysis of the cataract devices market

• IOLs
• OVDs
• Phacoemulsification devices
• Femtosecond lasers

In this market research, the analyst predicts the phacoemulsification devices segment to surpass USD 179 million during the forecast period. Various new-age phacoemulsification technologies have evolved in response to the increasing collaboration between surgeons and engineers. This also resulted in the development of advanced surgical procedures. Moreover, the growing popularity of phacoemulsification technologies owing to its low cost will spur its growth until the end of 2020.

Geographical segmentation and analysis of the cataract devices market

• Americas
• APAC
• EMEA

During 2015, the Americas dominated the global cataract devices market and accounted for more than 48% of the market share. In North America, an increasing aging population has led to the growing prevalence of cataract, thereby fuelling the demand for cataract devices. Additionally, improved healthcare support from the government and technological advancements will propel the growth prospects of the cataract devices market in this region.

Competitive landscape and key vendors

The global cataract devices market is highly competitive due the presence of many global and regional vendors that offer a variety of devices. The competition is set to intensify with vendors using innovative marketing strategies to establish more market presence. The vendors focus on retaining their position in the market by launching new products, investing in R&D, and geographical expansion.

The leading vendors in the market are -

• Abbott Medical Optics
• Alcon
• Bausch and Lomb
• HOYA

Other prominent vendors in the market include Allergan, Aurolab, Carl Zeiss Meditec, Essilor International, HumanOptics, Nidek, OPHTEC, Rayner Intraocular Lenses, STAAR Surgical, Topcon, and Valeant Pharmaceuticals.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global cataract devices market?
• What are the key market trends impacting the growth of the cataract devices market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global cataract devices market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the cataract devices market?