Ocular Surgery Market See Incredible Growth 2021-2028 | Johnson & Johnson Vision Care Inc., Alcon, Carl Zeiss, Meditec Medical, Bausch & Lomb,

Global Ocular Surgery Market, by Procedure Type (Cataract Surgery, Glaucoma Surgery, and Vitrectomy Surgery), by Device Type (Cataract Surgery Devices (IOL (Intraocular Lenses), OVD (Ophthalmic Viscosurgical Devices) and Phacoemulsification Devices), Glaucoma Surgery Devices (GDD (Glaucoma Drainage Device), Implants and Stents and Lasers and Systems), and Vitrectomy Surgery Devices(Vitrectomy Packs and Vitrectomy Machines),and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1,701.0 million in 2019 and is expected to exhibit a CAGR of 7.3% over the forecast period (2019-2027).

Increasing number of cataract and glaucoma operations provide lucrative possibilities for growth of the global ocular surgery market. Progressing geriatric population worldwide is anticipated to boost growth of the ocular surgery market. For instance, according to the National Institute of Health, the world population (aged 65 and over) was 617 million in 2016 and is anticipated to reach 1.6 billion by 2050.

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Furthermore, according to the cataract epidemiology, in 2015, around 3.6 million cataract operations were conducted in the United States and 23 million surgeries were performed worldwide in 2019.

Augmenting introduction of intraocular lenses is also anticipated to stimulate the market growth during the forecast period. For instance, in 2019, Johnson & Johnson Vision Company proposed a broad range of eye health solution, developed the TECNIS Eyhance intraocular lens in the Europe market for the treatment of cataracts. The system is intended to give vision at both intermediate and far distances.

Moreover, in 2017, Alcon a company specializing in eye care product has launched AcrySof IQ PanOptix Toric presbyopia- and astigmatism-correcting intraocular lens (IOL) for patients with pre-existing corneal astigmatism undergoing cataract surgery.

The requirement to depend on glasses or contact lenses post-operation is diminished owing to the accessibility of technologically advanced ocular devices such as femtosecond laser cataract surgery technology and intraocular lenses (IOLs) such as Toric IOLs. In 2016, Allergan acquired FDA-clearance for the XEN Gel Stent. It is a new surgical procedure that is capable of reducing intraocular pressure in patients experiencing refractory glaucoma. This alternative treatment is found to be effective when compared to traditional surgeries such as Trabeculectomy. Consequently, painless and time-efficient methods are generated using technological advancements, hence resulting in efficient and reliable surgery results.

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Key Takeaways-

• The global ocular surgery market is expected to exhibit a CAGR of 7.3% over the forecast period (2019–2027), owing to increasing acquisitions, mergers and collaborations by key players

• Among method type, the cataract surgery segment is anticipated to value for a major revenue share by 2027.

• Major players operating in the global ocular surgery market include Lumenis, Dutch Ophthalmic Research Center (International) B.V. (DORC), and Topcon Medical Systems, Ellex Medical Lasers, Bausch & Lomb, Meditec Medical, Carl Zeiss, Alcon, Johnson & Johnson Vision Care Inc.

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