Valuation of Eye Care Surgical Devices Market Estimated at US$ 10.7 Bn by 2031, TMR Report

• Technological advancements in ophthalmology at the forefront among other medical streams leading to remarkable progress in clinical technologies used by ophthalmologists underscores growth in eye care surgical devices market
• Advancements in cataract surgery equipment have led to improved safety and effectiveness of common procedures

ALBANY, N.Y., June 7, 2022 /PRNewswire/ -- TMR study for eye care surgical devices market projections estimates the said market to peg a CAGR of 5.5% for the forecast period from 2022 to 2031. Demand for eye care surgical devices has been rising significantly due to increase in incidence of ophthalmic disorders such as cataract, glaucoma, and other vision-related disorders that are leading causes of blindness and visual impairment. Eye care surgical devices range include both non-invasive and invasive diagnostic devices and instruments such as contact lenses, glaucoma stents, and intraocular lenses.

Eye care surgical devices market outlook is promising with the availability of technologically advanced cataract surgery equipment resulting in improved clinical outcomes. Emerging trend of advancements in cataract surgery equipment has led to improved safety and effectiveness of common procedures. 

In general, for clinical purposes, ophthalmology and its subspecialties are at the forefront embracing rapid technological advancements. For example, apodization has resulted in intraocular lens technology to progress from refractive to diffractive to result in fewer and less severe visual side effects.

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Eye Care Surgical Devices Market – Key Findings of the Report

• World over, large populations with mild or serious distance vision condition or blindness due to unaddressed refractive error, glaucoma, cataracts, corneal opacities, corneal opacities, diabetic retinopathy, and trachoma as well as near vision condition caused by unaddressed presbyopia stokes demand for eye care surgical devices
• Substantial occurrence of cataract in the expanding geriatric population in developing countries is projected to augment the demand for corrective surgeries. For example, in India, around 82% individuals between 75 and 83 years are affected by cataract compared to only 46% population in the same age group in the U.S.
• Implants and stents product type segment held significant share of eye care surgical devices market in 2021. Implants and stents comprise intraocular lenses, glaucoma drainage implants, bionic eyes, and glaucoma stents that witness substantial demand. Launch of cataract awareness programs by various governments and private organizations is anticipated to fuel demand for implants & stents product segment. Furthermore, launch of new eye care implants and stents by key players for cataract surgery and glaucoma strengthens revenue share of implants & stents product segment.
• By application, cataract surgery held a significant share of eye care surgical devices market in 2021. Increasing number of cataract surgeries is receiving attention of product manufacturers for new product launches. According to published data, approximately 60,000 cataract procedures are performed each day across the world.
• Hospitals end user is anticipated to hold substantial share of eye care surgical devices market during the forecast period. This is because hospitals are primary settings for eye care surgical devices, and have licenses for use of surgical devices to carry out invasive procedures.
• Growing popularity of medical tourism and charity organizations in developing countries provides stimulus to hospital segment of eye care surgical devices market. For example, Aravind Eye Care System – a leading provider of ophthalmological services in the world performs approximately 350, 000 eye surgeries each year, of which 60% are performed at low or no cost.
• North America is a key region in the eye care surgical devices market due to a large patient pool with refractive errors and other eye-related disorders.

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Eye Care Surgical Devices Market – Growth Drivers

• Demand for eye care surgical devices to diagnose, perform surgery, and correct vision for the increasing prevalence of various ophthalmic disorders such as cataract and glaucoma fuels the growth of eye care surgical devices market
• Large populations with near or distance impairment that needs treatment due to underlying eye conditions stokes demand for eye care surgical devices

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Eye Care Surgical Devices Market – Key Players

Some of the key players operating in the eye care surgical devices market are;

• Carl Zeiss Meditec AG
• Bausch Health Companies Inc.
• Lumenis Ltd.
• IRIDEX Corporation
• Ziemer Ophthalmic Systems
• Hoya Surgical Optics
• Alcon
• Johnson & Johnson
• Topcon Corporation
• NIDEK CO. LTD.
• Quantel Medical

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The eye care surgical devices market is segmented as follows;

Eye Care Surgical Devices Market, by Product Type

• Implants & Stents
• Viscoelastics
• Laser Surgery Devices
• Phacoemulsification Equipment
• Others

Eye Care Surgical Devices Market, by End-user

• Hospitals
• Specialty Centers

Eye Care Surgical Devices Market, by Application

• Cataract Surgery
• Glaucoma Surgery
• Diabetic Eye Surgery
• Others

Eye Care Surgical Devices Market, by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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