About the Cataract Devices Market
Cataract is the major cause of reversible blindness and visual impairment worldwide. Individuals with cataract can maintain a visual acuity of 20/20. However, over a period, may see cloudy patches in their field of vision that can become larger if the cataract worsens. Cataract can affect one or both eyes. The rise in the number of older people with cataract and evolving surgical techniques such as the use of IOLs and femtosecond lasers will boost the demand for cataract devices. Early detection, regular eye examinations, and treatment can preserve a person's eyesight. In addition, using femtosecond lasers for cataract surgery produces better refractive results and precision.
Technavio’s analysts forecast the global cataract devices market to grow at a CAGR of 6.43% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global cataract devices market for 2016-2020. To calculate the market size, the report considers the revenue generated from the following applications:
Technavio Announces the Publication of its Research Report – Global Cataract Devices Market 2016-2020
Technavio recognizes the following companies as the key players in the global cataract devices market: Abbott Medical Optics, Alcon, Aurolab, Bausch and Lomb, Carl Zeiss Meditec, and HOYA.
Other Prominent Vendors in the market are: Allergan, Essilor International, HumanOptics, NIDEK, Ophtec, Rayner Intraocular Lenses, STAAR Surgical, and TOPCON.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting market growth is the growing demand for femtosecond laser systems. Femtosecond laser technology for cataract surgery is expected to gain extensive application, after its success in corneal, refractive, and scleral surgeries. Femtosecond laser is a precise cutting instrument that can be applied to capsulorhexis and lens fragmentation. This technology is used in phacoemulsification equipment and enables obtaining optimal patient outcomes.”
According to the report, a key growth driver is the growing demand from emerging economies. Emerging economies such as India, China, Brazil, Russia, and South Africa are expected to be the significant contributors to market growth during the forecast period. In addition, the markets in emerging economies are expected to grow three times faster than developed markets in the coming years. The market in these countries will be driven by the increase in population (especially the older population), evolving demographics, rising disposable income, modernization of healthcare systems, and growing demand for the treatment of ophthalmic disorders.
Further, the report states that one challenge that could restrict market growth is the shortage of ophthalmologists.
Abbott Medical Optics, Alcon, Aurolab, Bausch and Lomb, Carl Zeiss Meditec, HOYA, Allergan, Essilor International, HumanOptics, NIDEK, Ophtec, Rayner Intraocular Lenses, STAAR Surgical, TOPCON.
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