Cataract surgery is one of the most common surgical procedures, with nearly 24 million procedures performed worldwide each year. Procedure volume is growing rapidly at a compounded rate of 3.5 percent per year, driven by demographic changes and increased access to health care. In addition, standards for cataract surgery are advancing worldwide, resulting in demand for advanced equipment. Several techniques are used for cataract surgery, and surgeonsâ€™ choices are largely dependent on access to advanced equipment and training.
Ultrasonic phacoemulsification (USP) has become the standard of care for cataract surgery in all wealthy nations, and the technique is making strides toward becoming the standard in less developed regions. Overall, USP continues to show modest growth as the gradual conversion from manual cataract surgical techniques to USP continues in many developing countries. Femtosecond laser cataract surgery, the newest technique used in cataract surgery, adds more precision when used in conjunction with a USP machine, leading to improved visual outcomes following IOL implantation. Market Scope is predicting that two-thirds of global cataract procedures will be performed using a USP machine and procedures using FLCS plus USP will account for less than 5 percent of cataract surgeries by 2020.
Factors contributing to growth in the cataract equipment market are steady growth of an aging population; increasing adoption of femtosecond laser cataract surgery; robust demand for improved visual outcomes; and growing worldwide access to advanced medical technology. The fastest growth is anticipated in developing countries and regions (China, India, and Latin America) with the highest population growth rates, in addition to relatively large population groups with cataracts that have not been surgically addressed.
The global cataract equipment market is dominated by three companies, Alcon, Abbott Medical Optics, and Bausch + Lomb, each with unit sales exceeding $100 million in revenues. These companies are expected to generate more than three-quarters of global cataract equipment revenues in 2015.
Market Scope published its 2015 Comprehensive Report on the Global Cataract Equipment Market in July 2015. It is the only report that provides in-depth coverage of cataracts and cataract surgery providers; current phaco markets and technologies in the pipeline; phaco packs and accessories; the femtosecond laser cataract surgery market segment; and the photodisruptor market used in treating cataracts. This report includes market data for 2014, and we forecast market performance through 2020. Our forecast also subdivides the cataract equipment market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.