According to WHO, there are an estimated of 253 million cases of vision impairment worldwide and among them, almost 36 million people are blind. Major causes of these vision impairment include cataract, refractive errors, glaucoma etc. If these eye-related disorders, mainly cataract and refractive errors, are not corrected timely, can cause blindness. There is a decrease in the prevalence of vision impairment due to awareness of general population, socioeconomic development and increased availability of eye care services. However, the number of cases with vision impairment could triple due to population growth and aging. Ocular surgery, commonly known as eye surgery, is a surgical procedure to treat these vision impairments. Ocular surgery is performed on the eye or the areas adjoining the eyes. Ocular surgical procedures are operated to treat sharpness and clarity of the vision. Most of the market leaders are working on the development of current treatment methods. This development includes simplicity and pain-less conventional methods. Recently, new innovative techniques are introduced in the ocular surgery devices market.
The objective of this market research study titled ‘Ocular Surgery Devices Market - Growth, Future Prospects and Competitive Analysis, 2017-2025’ is to provide company executives, investors, industry participants and developers with in-depth analysis to allow them to take decisions and strategic initiatives regarding scenarios in the ocular surgery devices market. This analysis report explains major trends in global ocular surgery devices market and also provides estimation of market size for the year 2016 and forecast years (2017-2025).
This report studies the global ocular surgery devices market based on device types, procedures, end-users, and major geographical demarcation. Based on device type, the global ocular surgery devices market is categorized into glaucoma surgery devices, cataract surgery devices, refractive surgery devices, and vitreoretinal surgery devices. On the basis of procedures, the global ocular surgery devices market is segmented into cataract surgery, glaucoma surgery, vitrectomy surgery and other ocular surgeries. Other ocular surgeries consist of laser eye surgery, eye muscle surgery, corneal surgery and oculoplastic surgery. The usage end user considered for the purpose of this study are hospitals, clinics, and others. The respective sections on such market segments comprise market size and forecast based on the period 2015-2025 and their compounded annual growth rates for the forecast period 2017-2025.
Based on geography, the global ocular surgery devices market is segmented into region five major regions considering major markets. These geographical regions are North America including United States and Canada, Europe including United Kingdom, Germany, Rest of Europe, Asia Pacific comprising China, Japan, Rest of Asia Pacific, Latin America with demarcation for Brazil, Mexico, Rest of Latin America and Middle East and Africa consisting of GCC, Rest of Middle East and Africa. Base year considered for the study is 2016 and the global ocular surgery devices market is forecasted for the period of 2017-2025. CAGRs are calculated for the forecast period considering market drivers and restraints. The market size and forecast for these regional markets is further provided by device type, procedures and end-users.
This analysis report also contains qualitative factors including market dynamics (opportunities, drivers and restraints) to have a comprehensive understanding of the current and future trends in the global ocular surgery devices market. Tools for competition assessment such as Porter’s five forces model, value chain analysis, competitive landscape by key players and market attractiveness analysis are also provided in the study. Furthermore, key players that at present have a prominent position in the global ocular surgery devices market are presented in the study with their basic market profile. Major players in the global ocular surgery market that have been profiled in this study include A.R.C. Laser Gmbh, Accutome, Inc., Alcon, Inc., AqueSys, Inc., Bausch & Lomb, Inc., Carl Zeiss Meditech AG, Ellex Medical Lasers Ltd., Johnson & Johnson Vision Care Inc., Lumenis Ltd., Meridian AG, Ziemer Ophthalmic Systems AG.NIDEK Co., Ltd., Rhein Medical, Inc., and STAAR Surgical Company.
Cataract is clouding of the eye lens that can impair vision and if not treated, can lead to blindness. In cataract surgery, an incision is made in the eye and clouded eye lens is replaced by intraocular lens (IOLs). These IOLs are of four types such as monofocal, multifocal, toric and accommodating devices. Ophthalmic viscosurgical devices (OVDs) are used alongside IOLs in cataract surgery to build and maintain space in the anterior chamber of the eye during phacoemulsification procedure and implantation of an IOL. IOLs and OVDs together constitute the cataract surgery devices market. This segment leads the global ocular surgery devices market due to higher adoption and easy availability of these devices in the developing countries. Globally, around 20 million blind cases are due to cataract, but these case disproportionately distributed as 50% of case are in developing countries. Also, number of cataract surgeries performed per million people per year (Cataract Surgical Rate) varies in developing countries. This segment is followed by glaucoma surgery devices, which constitutes glaucoma drainage devices, implants and lasers. Refractive surgery devices are comprised of ocular devices that are utilized to treat refractive errors of eye such as myopia, hyperopia, and astigmatism. Most common procedure to correct refractive errors is LASIK (Laser-assisted in situ keratomileusis). Vitreoretinal surgery devices include vitrectomy machines & packs, photocoagulation surgery devices and illumination devices.Due to better availability of ocular surgery devices and their early adoption in major economies in the world as well as in developing nations, global ocular surgery devices market is expected to expand at a considerable pace. Also, the incidence and prevalence of vision impairment disorders plays a vital role in expansion of global ocular surgery devices market.
Hospitals are the leading segment of global ocular surgery devices market, due to the affordability of expensive ocular devices and presence of skilled surgeons. Ocular devices include lasers and other expensive equipment, which are generally installed in hospitals only. Additionally, conventional ocular surgeries, for instance phacoemulsification, are only effective and safe when operated by skilled surgeons. Hospital segment is followed by clinics in terms of market value due to low cost of procedure and quick turnaround time. This segment is expected to expand at greater pace due to preference of these channels by the patients. Although, major and complicated procedures are not available at ophthalmic clinics, some of the surgical procedures can be performed in clinics. These procedures include refractive surgeries for myopia and hypermetropia. Therefore, it is expected that the growth of clinics segment will be greater than the global market benchmark.
Based on type of procedure, global ocular surgery devices market is segmented into cataract surgery, glaucoma surgery, vitrectomy surgery and other ocular surgeries. Other ocular surgeries consist of laser eye surgery, eye muscle surgery, corneal surgery and oculoplastic surgery. According to the WHO, cataract is the major cause of blindness accounting for almost 51% cases of the blindness. Introduction of novel laser-assisted cataract surgery method has replaced the use of handmade incisions by surgeon, thereby decreasing the chances of post-operative complications such as posterior vitreous detachment (PVD). As the global prevalence of cataract is higher compared to other ophthalmic ailments, cataract surgery holds a major share in ocular surgery devices market. Cataract surgery segment is followed by glaucoma surgery due to high prevalence of the glaucoma in developing countries. According to the NCBI, in 2010, around 11.2 million people 40 years of age and above suffered from glaucoma, in India. Other ocular surgeries include laser eye surgery, eye muscle surgery, corneal surgery and oculoplastic surgery. Eye muscle surgery, (extraocular or strabismus surgery), is performed over one million times a year in America, making it the third most prevalent eye surgery. Main goal of eye muscle surgery is correction of misalignment (crossed eyes). Among other ocular surgeries, eye muscle surgery leads the market.
As the population is rapidly aging, the incidence and prevalence of age-related disorders such as diabetes are bound to increase correspondingly, thus driving the growth in demand for ocular surgery devices. According to the International Diabetes Federation, in 2010, around 285 million people were affected by diabetes mellitus, which signifies a high risk of glaucoma and cataract among these people. Adoption of new technologies and increase in healthcare expenditure among different geographies are other driving factors for ocular surgery devices market.
Geographically, the ocular surgery devices market is cumulative to North America, Europe, Asia Pacific, Middle East and Africa and Latin America.
At present North America leads the global ocular surgery devices market in terms of market value followed by Europe. Better regulations, presence of sophisticated healthcare system, evolved reimbursement scenario and high prevalence of cataract and glaucoma cases are the prime factors that favor the dominance of North America market on the global front. In United States, cataract and glaucoma collectively affect around 27.1 million patients and an estimated of 2.4 million eye injuries occur each year in the United States. Additionally, the prominence of European market is mainly contributed by higher prevalence of cataract and glaucoma cases; significant preference for novel ocular surgery devices and dominant trend of adopting advanced treatment options in the healthcare systems. It is also projected that Asia Pacific region will witness the fastest market growth during the forecast period. This growth is anticipated based on improved awareness about availability of novel devices, increasing preference of patients to avail treatments with higher outcomes, greater disposable incomes and rapidly increasing healthcare expenditure. According to the WHO, there are more than 2 million case of un-operated cataract cases in China only.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Ocular Surgery Devices market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Device Type
| |
Procedure
| |
End-user
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
