Strong Growth Ahead: Cataract Surgery Devices And Equipment Market Size To Grow At Arecord 3.4% Cagr By 2029

The Cataract Surgery Devices And Equipment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Cataract Surgery Devices And Equipment Market?
The market size for cataract surgery devices and equipment has seen substantial growth over the past few years. Its value is set to increase from $14.94 billion in 2024 to $15.88 billion in 2025, with a compound annual growth rate (CAGR) of 6.3%. Several factors have contributed to this growth during the historic period, including an aging population, a higher incidence of cataracts, an increase in patient awareness, governmental vision care initiatives, and a rise in healthcare expenditure.

In the upcoming years, the market size for cataract surgery devices and equipment is anticipated to witness consistent growth. It is expected to reach $18.15 billion in 2029, expanding at a compound annual growth rate (CAGR) of 3.4%. This growth during the forecast period can be ascribed to increasing emphasis on outpatient surgery, personalized intraocular lenses, value-oriented healthcare models, worldwide vision care campaigns, and global efforts towards eye healthcare. The forecast period is expected to see prominent trends such as incorporation of artificial intelligence (ai), advancements in teleophthalmology and remote consultations, rapid technological breakthroughs, enhancements in intraocular lens technology, and advanced surgical techniques such as femtosecond laser technology.

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What Are the Different Cataract Surgery Devices And Equipment Market Segments?
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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What Are the Primary Drivers Shaping the Cataract Surgery Devices And Equipment Market?
Future growth of the cataract surgery devices and equipment market is likely to be fueled by an aging global population. Individuals who are 65 years of age and older, often referred to as the geriatric population, are more susceptible to cataracts and vision problems associated with aging, thereby increasing the demand for cataract surgery devices. This growing need has resulted from the surging numbers within this demographic which necessitates more cataract surgeries and the devices used in such procedures. The Population Reference Bureau (PRB), a non-profit organization in the US, forecasted in January 2024 that the population of those aged 65 and upward would increase from 58 million in 2022 to 82 million by 2050, marking a 47% rise. This age bracket's share of the total population is also expected to grow from 17% to 23%. This population trend implies a significant aging pattern within the U.S., underscoring the need to address the specific demands of this older demographic in various sectors. Hence, the growth in the elderly population serves as a key driver for the cataract surgery devices and equipment market expansion.

Which Companies Are Leading in the Cataract Surgery Devices And Equipment Market?
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

What Are the Major Trends Shaping the Cataract Surgery Devices And Equipment Market?
Lead companies in the cataract surgery devices and equipment industry are creating inventive products like the VERITAS Vision System to boost surgical precision and results. The VERITAS Vision System is an advanced phacoemulsification instrument aimed at enhancing safety for patients, facilitating surgeons' work, and increasing comfort. To illustrate, in February 2024, Johnson & Johnson, an American firm specialized in pharmaceuticals, biotechnology, and medical technologies, unveiled the Tecnis PureSee intraocular lens (IOL). The TECNIS PureSee IOL boasts a purely refractive, unique design that delivers consistent, top-tier vision with remarkable contrast and performance under low light, rivaling the capabilities of monofocal IOLs. With around 28 million operations occurring yearly, cataract surgery is the most frequently performed globally. Nonetheless, only between 10 to 15% of patients obtain enhanced optical IOLs tailor-made for astigmatism and presbyopia. Currently, the selection of an IOL by surgeons and patients come with compromises, such as the decision to prioritize clear vision at all distances over the risk of possible glares or halos. These challenges are addressed by the TECNIS PureSee, improving overall outcomes for both patients and surgeons.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Cataract Surgery Devices And Equipment Market?
2. What is the CAGR expected in the Cataract Surgery Devices And Equipment Market?
3. What Are the Key Innovations Transforming the Cataract Surgery Devices And Equipment Industry?
4. Which Region Is Leading the Cataract Surgery Devices And Equipment Market?

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