Rising Geriatric Population Fuels Demand For Cataract Surgery Devices And Equipment Driver: A Major Catalyst in the Evolution of the Cataract Surgery Devices And Equipment Market in 2025

What industry-specific factors are fueling the growth of the cataract surgery devices and equipment market?
The surging population of elderly individuals is anticipated to drive the expansion of the market for cataract surgery devices and equipment in the coming years. The term 'geriatric population' applies to those who are 65 years old or older. As this segment of society becomes more susceptible to cataracts with increasing age, the demand for cataract surgery devices has been escalating due to the vision impairment related to this eye condition. Thus, the expanding elderly population necessitates a surge in cataract surgical procedures and the requisite devices. For example, the Population Reference Bureau (PRB), a non-profit organization in the United States, projected in January 2024 that the American population aged 65 and above will rise from 58 million in 2022 to 82 million by 2050, marking a 47% increase. Furthermore, this segment's proportion within the total population is projected to expand from 17% to 23%, illustrating a significant aging trend within the American populace. These estimates underscore the growing necessity to meet the needs of older adults across diverse sectors. Hence, the growing elderly population is a prime factor fueling the expansion of the cataract surgery devices and equipment market.

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What Is the projected market size and growth rate for the cataract surgery devices and equipment market?
The market for cataract surgery devices and equipment has experienced robust expansion in the past few years. The market which is projected to rise from $14.94 billion in 2024 to $15.88 billion in 2025, will experience a compound annual growth rate (CAGR) of 6.3%. The factors driving growth during the historic period include the rising age of the population, heightened prevalence of cataracts, increased patient awareness, government-led initiatives for eye care, and enhanced healthcare spending.

In the coming years, it is anticipated that the market size for cataract surgery devices and equipment will experience consistent growth. The market is projected to reach $18.15 billion in 2029, with a compound annual growth rate (CAGR) of 3.4%. This growth over the forecast period can be accredited to an increased emphasis on outpatient surgery, customized intraocular lenses, value-based healthcare models, worldwide vision care campaigns, and global initiatives for eye health. The forecast period sees major trends such as the incorporation of artificial intelligence (AI), teleophthalmology, and remote consultations, fast-paced technological innovations, enhancements in intraocular lens technology, and advancements in surgical techniques, particularly femtosecond laser technology.

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What new trends are reshaping the cataract surgery devices and equipment market and its opportunities?
Leading firms in the cataract surgery devices and equipment industry, are making strides by creating innovative products like the VERITAS Vision System in order to enhance surgical precision and results. This next-generation system, designed specifically for phacoemulsification, places an emphasis on patient safety, surgeon efficiency, and comfort. For example, in February 2024, the US firm Johnson & Johnson, renowned in the pharmaceutical, biotech, and medical technology sectors, unveiled the Tecnis PureSee intraocular lens (IOL). This IOL, equipped with an innovative refractive design, guarantees consistent high-quality vision, and remarkable contrast and low-light performance, on par with monofocal IOLs. Cataract surgery holds the distinction of being the most commonly executed surgery around the globe with estimates of 28 million operations each year. However, a mere 10-15% of patients are recipients of advanced optical IOLs specifically manufactured for presbyopia and astigmatism. At present, surgeons and patients have to resolve dilemmas when choosing an IOL, with decisions often lying between clear vision across all distances and the potential risk of glares or halos. Nevertheless, Tecnis PureSee IOL addresses these issues, thereby elevating end results for both patient and surgeon.

What major market segments define the scope and growth of the cataract surgery devices and equipment market?
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

Subsegments:
1) By Intraocular Lens (IOL): Monofocal IOL, Multifocal IOL, Toric IOL, Accommodative IOL
2) By Ophthalmic Viscoelastic Device (OVD): Dispersive OVD, Cohesive OVD
3) By Phacoemulsification Equipment: Phacoemulsification Machines, Handpieces And Accessories
4) By Femtosecond Laser Equipment: Femtosecond Laser Systems For Cataract Surgery, Laser Treatment Accessories

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Which region dominates the cataract surgery devices and equipment market?
North America was the largest region in the global cataract surgery devices and equipment market in 2024. Asia-Pacific was the second-largest region in cataract surgery devices and equipment market. The regions covered in the cataract surgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the cataract surgery devices and equipment industry growth?
Major companies operating in the cataract surgery devices and equipment market include 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., 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., Ellex Medical Lasers Limited

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What Is Covered In The Cataract Surgery Devices And Equipment Global Market Report?

• Market Size Forecast: Examine the cataract surgery devices and equipment market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cataract surgery devices and equipment market for a structured understanding.
• Key Players Overview: Analyze major players in the cataract surgery devices and equipment market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cataract surgery devices and equipment market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cataract surgery devices and equipment market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cataract surgery devices and equipment market.
• Industry Challenges: Identify potential risks and obstacles affecting the cataract surgery devices and equipment market.
• Competitive Landscape: Review strategic developments in the cataract surgery devices and equipment market, including expansions, agreements, and new product launches.

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