Global Cataract Treatment Devices Market Overview:
The Cataract Treatment Devices Market is projected to grow in the forecast period due to the growing prevalence of cataract cases and the increasing geriatric population. A cataract is an eye-related disorder in which clouding of the eye lens is witnessed which leads to permanent vision loss. The treatment involves replacing it with an artificial lens that helps to re-establish a vision of the eye. The devices and instruments such as phacoemulsification systems, gloves, drapes, balanced salt solution, forceps, irrigation set, ophthalmic viscoelastic devices, and intraocular lenses, which help in this cataract treatment procedure are acknowledged as cataract treatment devices. The technological advancements in ophthalmic devices are increasing the comfort levels of the doctors and the patients, having a positive impact on market growth.
Growth Drivers
- Increase in Prevalence of Cataract Diseases and Increasing Geriatric Population
- Technological Advancements in Ophthalmic Devices
Market Trends
- Advancements in the Cataract Treatment Devices
Roadblocks
- High Cost Incurred for Cataract Treatment Devices
- Stringent Government Regulations
Opportunities
- Presence of Advanced Healthcare Infrastructure
- Rising Government Programs Encouraging People to Go for Tests and Treatments
Challenges
- Low Level of Awareness about Eye Disorders, especially Cataract
Competitive Landscape:
Major players are implementing various strategies such as mergers & acquisitions, new product development, joint ventures, partnerships and others. Medical technology and healthcare companies are setting standards by manufacturing cataract treatment devices with the help of various technological advancements.
Some of the key players profiled in the report are Johnson and Johnson Vision Care (United States), Zeiss (Germany), Bausch + Lomb (United States), Alcon (Switzerland), NIDEK (Japan), Essilor (France), Ziemer Ophthalmic Systems AG (Switzerland), HAAG-Streit Holding AG (Switzerland) and Abbott Laboratories (United States). Analyst at AMA Research see Global Players to retain maximum share of Global Cataract Treatment Devices market by 2026.
In August 2019 – Alcon announced the Food and Drug Administration (FDA) approval and its initial commercial launch of AcrySof®IQ PanOptix®Trifocal Intraocular Lens (IOL), the first and only trifocal lens for U.S. patients undergoing cataract surgery. PanOptix is clinically shown to deliver an exceptional combination of near, intermediate and distance vision while significantly reducing the need for glasses after surgery.
What Can be Explored with the Cataract Treatment Devices Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Cataract Treatment Devices Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Cataract Treatment Devices
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Cataract Treatment Devices market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Cataract Treatment Devices market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Cataract Treatment Devices, Suppliers of Cataract Treatment Devices parts, Distributors of Cataract Treatment Devices, Healthcare Industry, Governmental Bodies and Research Firms.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.