Cataract Surgery Devices And Equipment Market Competitive And Growth Analysis 2024 - Major Players, High Growth Strategies And Opportunities | Johnson & Johnson Services Inc., Allergan Inc., PhysIOL S.A, Novartis AG

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The Business Research Company presents an extensive market research report on the Cataract Surgery Devices And Equipment Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The cataract surgery devices and equipment market size has grown rapidly in recent years. It will grow from $7.46 billion in 2023 to $8.24 billion in 2024 at a compound annual growth rate (CAGR) of 10.5%. The growth in the historic period can be attributed to aging population demographics, increasing incidence of cataracts, rise in patient awareness, government initiatives for vision care, increasing healthcare expenditure.

The cataract surgery devices and equipment market size is expected to see strong growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth in the forecast period can be attributed to growing focus on outpatient surgery, customized intraocular lenses, value-based healthcare models, global vision care campaigns, global initiatives for eye health. Major trends in the forecast period include integration of artificial intelligence (ai), teleophthalmology and remote consultations, rapid technological innovations, improvements in intraocular lens technology, technological advancements in surgical techniques, femtosecond laser technology.

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Key Market Players:

Major companies operating in the cataract surgery devices and equipment market report are Johnson & Johnson Services Inc., Allergan Inc., PhysIOL S.A, Novartis AG, Abbott Laboratories, Alcon Inc., HOYA Corporation, Bausch & Lomb Inc., Carl Zeiss Meditech AG, Topcon Corporation, NIDEK Co. Ltd., Glaukos Corporation, Aurolab Co., OPHTEC BV, DORC International BV, Calhoun Vision Inc., Coburn Technologies Inc., HumanOptics AG, Hanita Lenses Ltd., Lenstec Inc., CRISTALENS SL, EyeKon Medical Inc., ROWIAK GmbH, Ziemer Ophthalmic Systems AG, HAAG-Streit Holding AG, Sonomed Escalon Corp., VisionCare Ophthalmic Technologies Inc., Ellex Medical Lasers Limited, Altacor Pharma

Market Drivers:

The rising geriatric population is expected to propel the growth of the cataract surgery devices and equipment market in the future. The geriatric population refers to people aged 65 and over. The rising elderly population are more prone to developing cataracts as they age, which is boosting the demand for cataract surgery devices due to the associated vision impairment. Consequently, the growing geriatric demographic has led to an increased need for cataract surgery procedures and related devices. For instance, according to the 2021 American Community Survey conducted by The United States Census Bureau, a US-based government agency, there were 55,892,014 people aged 65 and over in the U.S. out of a total population of 331,893,745, which represents 16.8% of the population. Therefore, the rising geriatric population is driving the growth of the cataract surgery devices and equipment market.

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The cataract surgery devices and equipment market covered in this report is segmented -

1) By Type: Intraocular Lens (IOL), Ophthalmic viscoelastic device (OVD), Phacoemulsification Equipment, Femtosecond Laser Equipment
2) By Surgery Type: Extracapsular Cataract Extraction, Phacoemulsification, Femtosecond Laser, Other Surgery Types
3) By Application: Ophthalmology Centers, Hospitals, Clinics

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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