Pune, India -- (SBWIRE) -- 12/11/2018 -- The Global Cataract Surgery Device Market is experiencing an upturn and is expected to grow at a compound annual growth rate of 5.5% over the forecast period of 2016-2022, reveals Market Research Future (MRFR) in a recently published research report. The global visual impairment population is increasing gradually which is the primary driving force behind the growth of the global cataract surgery device market. Increasing prevalence of eye disorders, especially cataract which necessitates surgery and, in turn, drives the market for cataract surgery device market. The gradual rise in global geriatric population is also estimated to be a positive driving force for the market growth. The aging populace is more prone to developing a cataract, and the demographic shift in developed countries towards older age will lead to an increased rate of cataract surgeries.

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The economic upsurge in developing countries has directed the government's attention towards control and prevention of eye diseases which has reflected positively on the growth of the market. In addition, development of minimally invasive surgical techniques and high-tech ophthalmic surgical devices have propelled the growth of the global cataract surgery device market. The emergence of laser cataract surgery has also been a boon for the market. Furthermore, favorable reimbursement scenario for cataract surgeries has raised the adoption rate of cataract surgeries which is expected to boost the market growth over the forecast period. On the flip side, the global cataract surgery devices market is expected to witness a setback in developing countries where access to healthcare is low. Moreover, low-income levels and lack of awareness regarding eye impairments are significant impediments to the growth of the global cataract surgery devices market. The global cataract surgery devices market is expected to USD 4.5 Billion by the end of 2022.

Key Players for Global Cataract Surgery Device Market

The notable players operating in the global cataract surgery device market include Allergan, Inc. (U.S.), Essilor International S.A. (France), Bausch & Lomb, Inc. (U.S.), STAAR Surgical Company (U.S.), Carl Zeiss Meditech AG (Germany), Abbott Laboratories (U.S.), Opcon Corporation (Japan), NIDEK Co., Ltd. (Japan), and Alcon, Inc. (U.S).

Industry Updates

In August 2018, Alcon, a global leader in eye care and a subsidiary of Novartis, announced a voluntary recall of CyPass Micro-Stent, a micro-invasive eye surgical device due to safety concerns. The device was approved for use along with cataract surgery but was pulled off the market following a five-year post-surgery data analysis which indicates that it may cause damage to the eyes.

In September 2018, Swiss Advanced Vision launched a Harmonis customizable intraocular lens system designed for cataract surgery.

Regional Analysis for Global Cataract Surgery Device Market

Globally North America is the largest market for Cataract Surgery Device Market. The North American market for Cataract Surgery device is expected to grow at a CAGR of 4.9%. Europe is the second-largest market for Cataract Surgery device which is expected to grow at a CAGR of 5.2%. Asia pacific region is expected to be fastest growing region in Cataract Surgery device market.

Segments for Global Cataract Surgery Device Market

Global Cataract Surgery Device Market has been segmented on the basis of device type which comprises of intraocular lens (IOL), ophthalmic viscoelastic device (OVD), phacoemulsification equipment and femtosecond laser equipment. Furthermore on the basis of end user the market is segmented into ophthalmology centers, hospitals, clinics and others.

Some Brief Table of Contents of Report

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope Of The Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restrains

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Technology Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porters Five Forces Analysis

5.1.1 Bargaining Power Of Suppliers

TOC Continued…

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