Cataract Surgery Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017

GlobalData
January 1, 2012
91 Pages - SKU: GBDT6744360
Cataract Surgery Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017

Summary

GlobalData’s new report, “Cataract Surgery Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global cataract surgery devices market. The report provides market landscape, competitive landscape and market trends information on the cataract surgery devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market’s dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

Scope
  • Key geographies covered include the US, Canada, the UK, Germany, France, Italy, Spain, Japan, China, India, Australia, and Brazil.
  • Key segments covered include Intra Ocular Lens (IOL), Ophthalmic Viscoelastic Devices (OVD) and Phacoemulsification Equipment.
  • Annualized market revenues data from 2003 to 2010, forecast forward for seven years to 2017. Company shares data for 2010.
  • Qualitative analysis of key market trends, market drivers, and restraints within the cataract surgery devices market.
  • The report also covers information on the leading market players, the competitive landscape, and the leading pipeline products and technologies.
  • Key players covered include Alcon, Inc., Abbott Medical Optics, Inc., Bausch & Lomb Incorporated and HOYA Corporation.
Reasons to buy
  • Develop business strategies by understanding the trends and developments that are driving the cataract surgery devices market globally.
  • Design and develop your product development, marketing and sales strategies.
  • Develop market-entry and market expansion strategies.
  • Identify key players best positioned to take advantage of the emerging market opportunities.
  • Exploit in-licensing and out-licensing opportunities by identifying products that are most likely to ensure a robust return.
  • What’s the next big thing in the cataract surgery devices market landscape? - Identify, understand and capitalize.
  • Make more informed business decisions from the insightful and in-depth analysis of the global cataract surgery devices market and the factors shaping it.


Additional Information

GlobalData’s new report, “Cataract Surgery Devices - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global cataract surgery devices market. The report provides market landscape, competitive landscape and market trends information on the cataract surgery devices market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market’s dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

The Global Cataract Surgery Devices Market is forecast to exceed $3.8 Billion by 2017

Cataract Surgery Devices Market, Global, Revenue ($m), Forecast, 2010-2017

Source: GlobalData, Annual Reports, Securities and Exchange Commission (SEC), Filings, Investor Presentations, Earning Call Transcripts, News and Press Releases, Scientific Journals, Trade Associations, Interviews with Industry Experts and Key Opinion Leaders (KOLs)

The global market for cataract surgery devices was valued at $3 billion in 2010, and is forecast to exceed $3.8 billion by 2017, growing at a Compound Annual Growth Rate (CAGR) of 3%. This growth in the market is expected to be driven by the increase in the adoption of premium Intraocular Lenses (IOLs) such as multifocal, accommodating and toric IOLs plus technological advancements, such as micro-incision cataract surgery in the developed countries and phacoemulsification in the developing countries, and an increase in the prevalence of cataracts because of the aging population and the associated risk factors such as diabetes.

High Prevalence of Cataracts, especially in the Aging Population to Generate Demand

The high prevalence of cataracts, especially in the elderly population, will lead to an increase in the number of cataract surgeries and generate demand for cataract surgery devices. According to the World Health Organization (WHO), the number of cataract surgeries performed in 2010 was estimated to be around 20 million and this number is expected to reach 32 million by 2020. In India, over five million cataract surgeries are performed annually, making it the top country in the world for such surgeries. In the US, annually, over three million cataract surgeries are performed. In Germany, over 0.8 million cataract surgery procedures are performed each year, while in France, the figure is over 0.5 million.

Cataracts are a leading cause for blindness worldwide, accounting for around 50% of all types of blindness. Furthermore, the incidence of cataracts increases with age. According to the National Eye Institute, of the total US population, cataracts are prevalent in 68.3% of those aged 80 and above and in 42.8% of those aged 70 to 79. An increase in the elderly population will lead to a significant increase in the prevalence of cataracts.

IOL is the Largest Segment in the Global Cataract Surgery Devices Market

IOL is the largest segment in the global cataract surgery devices market and is forecast to reach $3.1 billion by 2017 at a CAGR of 4%. The market is expected to be driven by the increasing adoption of premium IOLs such as multifocal, accommodating and toric IOLs.

There is an escalating shift from the use of standard monofocal IOLs to premium IOLs resulting in higher revenue generation. Although, the majority of surgically implanted IOLs, to replace the clouded lens and restore vision, are the standard monofocal lenses, premium IOLs are gaining increased adoption because of their enhanced clinical outcomes. The adoption level of premium IOL units was 13% in the US in 2010. However, the revenue contribution from these premium IOL units made 39% of the total IOL segment. The higher revenue generation from the premium IOLs is because of their higher price, a factor that will significantly contribute to the growth of the IOL market.

Femtosecond Laser Systems Expected to have Significant Impact on Cataract Surgery Devices Market in the Future

The development and application of femtosecond laser technology towards cataract surgery is expected to gain wider adoption, following its success in refractive, corneal and scleral surgery. The femtosecond laser is a precise cutting instrument that can be applied to capsulorrhexis (a process to remove lens capsules in cataract surgery) and lens fragmentation. Femtosecond laser technology is expected to complement phacoemulsification equipment, as it facilitates emulsification by softening dense nuclei. While the concrete impact of this technology on the market cannot yet be analysed, many eye surgeons are optimistic about its application in cataract surgery and for this reason, it is expected to have a significant impact in the future.

The US is the Biggest Market for Cataract Surgery Devices

The US market for cataract surgery devices was valued at $960.8m in 2010, and is forecast to reach $1.1 billion by 2017, at a CAGR of 3%. The US contribution towards the global cataract surgery devices market was 32% in 2010. The US market for cataract surgery devices is expected to be driven by the increase in the adoption of premium IOLs, direct to consumer (DTC) marketing, the availability of advanced technologies such as micro-incision cataract surgery, the availability of reimbursement, the increase in the number of ambulatory surgical centers (ASC) and a significant aging population. Cataract surgery is the most requested procedure in the US, with an estimated three million cataract surgeries performed each year.

Alcon is the Dominant Player in the Global Cataract Surgery Devices Market

Cataract Surgery Devices, Global, Company Share (%), 2010

Source: GlobalData, Annual Reports, SEC Filings, Investor Presentations, Earning Call Transcripts, News and Press Releases, Scientific Journals, Trade Associations, Interviews with Industry Experts and Key Opinion Leaders (KOLs)

In 2010, Alcon was the dominant player in the global cataract surgery devices market, with a 43% market share. Alcon’s dominance can be attributed to its leading position in the IOL market and a significant presence in both the phacoemulsification equipment market and the ophthalmic viscoelastic devices (OVDs) market. Alcon’s powerful position in the IOL market is expected to continue with its broad product portfolio, strong sales and distribution network and its significant investment in pipeline products. Other leading players in this market are Abbott Medical Optics, Bausch and Lomb and Hoya Corporation.

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