Global Ocular Surgery Market to Surpass US$ 15,549.1 Million by 2030, Says Coherent Market Insights

SEATTLE, Feb. 17, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global ocular surgery market is estimated to be valued at US$ 10,444.4 million in 2022 and is expected to exhibit a CAGR of 5.1% over the forecast period (2022-2030).

Key Trends and Analysis of the Global Ocular Surgery Market:

Key trends in the market include increasing prevalence of eye problems such as glaucoma, cataract, among others; increasing approval of novel products, and increasing collaborations, acquisitions, and partnerships among key players. These key trends are expected to aid in growth of the global ocular surgery market.

Primary open-angle glaucoma (POAG), a type of glaucoma is one of the most common causes of irreversible blindness all around the world. According to an article published by the Scientific Reports journal in July 2021, the overall prevalence of POAG was estimated to be 2.4%, globally, in 2021. The same source also states that the number of POAG cases in the adult population (40–80 years old) globally was estimated to be around 52.68 million in 2020 and is expected to reach around 79.76 million in 2040.

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Moreover, increasing launches of novel ocular surgery products are expected to drive the market growth over thes forecast period. For instance, in January 2021, Alcon, an American Swiss medical company specializing in surgical and vision care products, announced the expansion of its intraocular lens portfolio with the U.S. launch of AcrySof IQ Vivity, which is an intraocular lens (IOL). AcrySof IQ Vivity lens is the first non-diffractive extended depth of focus intraocular lens and is now available to all U.S. ophthalmologists for carrying out cataract surgery.

Furthermore, key players operating in the global ocular surgery market are focusing on adoption of inorganic growth strategies such as acquisitions and collaborations, in order to expand their market presence in the global market. For instance, in June 2021, Rayner Intraocular Lenses Limited, a U.K. based manufacturer of ophthalmic medical products announced that it has completed the acquisition of Surgicon Healthcare Pvt Limited, an India-based distributor of ophthalmic products. This acquisition would help Rayner Intraocular Lenses Limited to introduce its pipeline of ophthalmic viscoelastic devices (OVDs), innovative intraocular lenses (IOLs), and dry eye drops solutions to ocular surgeons and patients across India.

Key Market Takeaways:

The global ocular surgery market is expected to exhibit a CAGR of 5.1% over the forecast period, owing to rising product launches of ocular surgery products. For instance, in June 2021, Johnson & Johnson Vision, a U.S. based subsidiary of Johnson & Johnson Services, Inc. announced the launch of TECNIS Eyhance Toric II monofocal intraocular lens (IOL) for the treatment of cataracts patients with astigmatism, an imperfection in the curvature of the eye, in Europe.

Among procedure type, cataract surgery segment is expected to account for the largest market share in 2022 owing to rising incidence of cataracts. For instance, according to data provided by the National Eye Institute, U.S. in July 2019, it is predicted that the number of people in the U.S. with cataract would double from 24.4 million in 2010 to about 50 million in 2050.

Key players operating in the global ocular surgery market include Johnson & Johnson Services, Inc., Vision Care, Alcon, Carl Zeiss AG, Meditec Medical Ltd, Bausch & Lomb Incorporated, Ellex, Ziemer Ophthalmic Systems, Topcon Corporation, D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Lumenis Be Ltd., Glaukos Corporation, Aaren Scientific Inc., HOYA Corporation, Rayner Intraocular Lenses Limited, SCHWIND eye-tech-solutions, Avedro, LENSAR, Inc., and, iVIS Technologies.

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Detailed Segmentation:

Global Ocular Surgery Market, By Procedure Type:

• Cataract Surgery
• Glaucoma Surgery
• Vitrectomy Surgery
• Refractive Error Surgery

Global Ocular Surgery Market, By Device Type:

• Cataract Surgery Devices
• IOL (Intraocular Lenses)
• OVD (Ophthalmic Viscosurgical Devices)
• Phacoemulsification Devices
• Glaucoma Surgery Devices
• GDD (Glaucoma Drainage Device)
• Implants and Stents
• Lasers and Systems
• Vitrectomy Surgery Devices
• Vitrectomy Packs
• Vitrectomy Machines
• Refractive Error Surgery Devices
• Exciplex lasers
• YAG (yttrium aluminum garnet) Lasers
• Microkeratomes
• Femtosecond Lasers

Global Ocular Surgery Market, By End User:

• Hospitals
• Ophthalmic clinics
• Others (Academic and Research Institutions, among others)

Global Ocular Surgery Market, By Region:

• North America
• By Country:
• U.S.
• Canada
• Europe
• By Country:
• U.K.
• Germany
• Italy
• France
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• By Country:
• China
• India
• Japan
• ASEAN
• Australia
• South Korea
• Rest of Asia Pacific
• Latin America
• By Country:
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Middle East & Africa
• By Country:
• GCC Countries
• Israel
• South Africa
• Rest of Middle East & Africa

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Find related trending report below:

Ocular Implant Market, by Implant Type (Intraocular Lenses (IOL) (Aspheric IOLs, Toric IOLs, Multifocal IOLs, Anterior chamber IOLs, and others), Corneal Implants, Glaucoma Implants, Orbital Implants, Ocular prosthesis, and others), by Application (Glaucoma Surgery, Oculoplasty, Drug Delivery, Age-Related Macular Degeneration (AMD), Aesthetic purpose, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026

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