PORTLAND, Oregon and PUNE, India, October 5, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Cataract Surgery Devices Market: Global Opportunity Analysis and Industry Forecast, 2017-2023," the cataract
Cataract is a condition in which clouding of the lens occurs. Cataract surgery devices are instruments and consumables, such as intraocular lens (IOLs), salt solutions, forceps, syringe, liquids for scrubbing, and various hand pieces, which aid in a cataract surgery. These surgery devices help enter vitreous cavity and separating the natural lens from the cavity.
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Increase in incidences of diseases such as diabetes, obesity, and hypertension. In addition, the growth in geriatric population also boosts the growth of the market as geriatric population is more prone to cataract ailments. However, dearth of skilled professionals restrain the growth of the market. Moreover, government and non-profit organizations introduce programs to reduce the burden of cataract-related diseases globally, which create lucrative opportunities for key market players.
The consumables segment generated the highest revenue in 2016 accounting for two-thirds share of the global market, and is anticipated to dominate the market throughout the forecast period. This is attributed to the increase in demand for cataract surgeries, which in turn boost the growth of the consumables segment.
The ophthalmology clinics segment accounted for the three-eighths share of the global market in 2016, and is expected to register the highest CAGR of 4.7% during the forecast period. This is attributed to the increase in awareness among individual due to the various camps and activities conducted by ophthalmology clinics. In addition, ophthalmology clinics also has a vast range of cataract surgical equipment, which are mostly scarce in hospital settings.
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KEY FINDINGS OF THE STUDY
Asia-Pacific witnessed the highest growth rate in the global market from 2017 to 2023. This is attributed to growth in awareness related to cataract as well as due to the introduction of novel cataract surgery procedures. For instance, in 2012 bladeless cataract surgery was introduced in India. However, laser-assisted cataract surgery was not widely accepted at the beginning, nevertheless after the introduction of many reimbursement schemes by the government and increase in awareness, laser-assisted cataract surgeries are accepted widely in the Asia-Pacific.
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The key players operating in the global cataract surgery devices market have adopted product launch as their key developmental strategy and have focused on launching innovative products to cater the requirements and strengthen their market share. The major companies profiled in the report include Abbott Laboratories, Novartis AG, Carl Zeiss Meditec AG, Essilor International S.A., HAAG-Streit Holding AG, Johnson & Johnson, Nidek Co., Ltd., Topcon Corporation, Valeant Pharmaceuticals International, Inc., and Ziemer Ophthalmic Systems AG.
Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research
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