The global cataract surgery device market accounted for USD 8.46 billion in 2023 and is expected to reach at USD 12.30 billion by 2034 with a CAGR of 3.46% during the forecast period 2024-2034. The market will increase as a result of factors such as rising rates of diabetes and other chronic conditions, rising knowledge of cataract treatments, technological improvements, advantageous government regulations, and a surge in demand for premium IOLs.
Chronic diabetes, which interferes with blood sugar regulation, is a key cause of cataract development. Globally, diabetes is becoming more common, which is predicted to increase demand for cataract surgical instruments. For instance, Alcon (Novartis AG) announced in March 2023 the global release of the next-generation AcrySof® IQ VivityTM IOL with XactTM Acrylic material, which offers a greater range of vision correction.
By product type, the phacoemulsification equipment segment accounted for the highest revenue-grossing segment in the global cataract surgery device market in 2023 owing to the high demand for advanced surgical techniques and equipment, such as phacoemulsification, which offer safer, more efficient, and less invasive cataract surgeries, driving market growth and revenue generation. For instance, Johnson & Johnson Vision received FDA clearance in February 2024 for its Tecnis Symfony® Toric IOL, the first and only toric IOL to cure presbyopia and astigmatism in the same lens. Additionally, the femtosecond lasers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of femtosecond laser-assisted cataract surgery (FLACS) techniques, which offer greater precision, reproducibility, and safety in cataract surgery, driving demand for femtosecond lasers in the market.
By application, the posterior sub-capsular cataracts segment accounted for the highest revenue-grossing segment in the global cataract surgery device market in 2023 owing to the increasing prevalence of posterior sub-capsular cataracts, which often require advanced surgical techniques and specialized devices for effective treatment, driving higher revenue in this segment of the market. For instance, Bausch + Lomb and Victora Surgical entered into a strategic agreement in January 2024 to jointly develop and commercialize novel femtosecond laser technology for cataract surgery. Additionally, the congenital cataracts and traumatic cataracts segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidences of congenital cataracts and traumatic cataracts, necessitating specialized surgical interventions and devices for treatment, thus driving rapid growth in this segment of the market.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global cataract surgery device market in 2023 owing to the high volume of cataract surgeries performed in hospitals, which serve as major centers for surgical procedures and have the necessary infrastructure and expertise, driving significant revenue in this segment of the market. For instance, Carl Zeiss Meditec AG launched the VERACITYTM Intraocular Lens (IOL) portfolio in the US in December 2023, providing a selection of cutting-edge IOLs engineered for superior visual results. Additionally, the ambulatory surgery centers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for outpatient cataract surgeries, driven by factors such as shorter recovery times, cost-effectiveness, and technological advancements allowing for safer procedures in ambulatory surgery centers.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of cataracts, advanced healthcare infrastructure, favorable reimbursement policies, and increasing adoption of advanced cataract surgery techniques and devices in the North American region, driving its anticipated highest revenue share in the forecast period. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising aging population, increasing prevalence of cataracts, improving healthcare infrastructure, expanding access to healthcare services, and growing adoption of advanced cataract surgery technologies in the Asia Pacific region, contributing to its predicted fastest growth in the forecast period. For instance, in November 2023, HOYA Corporation and Google announced a partnership to create AI-powered cataract surgery solutions to enhance surgical accuracy and patient care.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Chronic diabetes, which interferes with blood sugar regulation, is a key cause of cataract development. Globally, diabetes is becoming more common, which is predicted to increase demand for cataract surgical instruments. For instance, Alcon (Novartis AG) announced in March 2023 the global release of the next-generation AcrySof® IQ VivityTM IOL with XactTM Acrylic material, which offers a greater range of vision correction.
By product type, the phacoemulsification equipment segment accounted for the highest revenue-grossing segment in the global cataract surgery device market in 2023 owing to the high demand for advanced surgical techniques and equipment, such as phacoemulsification, which offer safer, more efficient, and less invasive cataract surgeries, driving market growth and revenue generation. For instance, Johnson & Johnson Vision received FDA clearance in February 2024 for its Tecnis Symfony® Toric IOL, the first and only toric IOL to cure presbyopia and astigmatism in the same lens. Additionally, the femtosecond lasers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of femtosecond laser-assisted cataract surgery (FLACS) techniques, which offer greater precision, reproducibility, and safety in cataract surgery, driving demand for femtosecond lasers in the market.
By application, the posterior sub-capsular cataracts segment accounted for the highest revenue-grossing segment in the global cataract surgery device market in 2023 owing to the increasing prevalence of posterior sub-capsular cataracts, which often require advanced surgical techniques and specialized devices for effective treatment, driving higher revenue in this segment of the market. For instance, Bausch + Lomb and Victora Surgical entered into a strategic agreement in January 2024 to jointly develop and commercialize novel femtosecond laser technology for cataract surgery. Additionally, the congenital cataracts and traumatic cataracts segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidences of congenital cataracts and traumatic cataracts, necessitating specialized surgical interventions and devices for treatment, thus driving rapid growth in this segment of the market.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global cataract surgery device market in 2023 owing to the high volume of cataract surgeries performed in hospitals, which serve as major centers for surgical procedures and have the necessary infrastructure and expertise, driving significant revenue in this segment of the market. For instance, Carl Zeiss Meditec AG launched the VERACITYTM Intraocular Lens (IOL) portfolio in the US in December 2023, providing a selection of cutting-edge IOLs engineered for superior visual results. Additionally, the ambulatory surgery centers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing preference for outpatient cataract surgeries, driven by factors such as shorter recovery times, cost-effectiveness, and technological advancements allowing for safer procedures in ambulatory surgery centers.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high prevalence of cataracts, advanced healthcare infrastructure, favorable reimbursement policies, and increasing adoption of advanced cataract surgery techniques and devices in the North American region, driving its anticipated highest revenue share in the forecast period. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the rising aging population, increasing prevalence of cataracts, improving healthcare infrastructure, expanding access to healthcare services, and growing adoption of advanced cataract surgery technologies in the Asia Pacific region, contributing to its predicted fastest growth in the forecast period. For instance, in November 2023, HOYA Corporation and Google announced a partnership to create AI-powered cataract surgery solutions to enhance surgical accuracy and patient care.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Cataract Surgery Device Market Report 2023 - 2034
Cataract Surgery Device Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Phacoemulsification Equipment
- Ophthalmic Viscoelastic Devices (OVD)
- Femtosecond Lasers, Intraocular Lens (IOLs)
Cataract Surgery Device Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Posterior Sub-capsular Cataracts
- Cortical Cataracts
- Nuclear Sclerotic Cataracts
- Congenital Cataracts
- Traumatic Cataracts
- Others
Cataract Surgery Device Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgery Centers
- Online Sales
Cataract Surgery Device Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Cataract Surgery Device Market: Product Type Estimates & Trend Analysis
8. Cataract Surgery Device Market: Application Estimates & Trend Analysis
9. Cataract Surgery Device Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Cataract Surgery Device Market
12. Europe Global Cataract Surgery Device Market
13. Asia Pacific Global Cataract Surgery Device Market
14. Latin America Global Cataract Surgery Device Market
15. MEA Global Cataract Surgery Device Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Alcon (Novartis AG)
- Johnson & Johnson Vision (Johnson & Johnson)
- Bausch + Lomb (Bausch Health Companies Inc.)
- Carl Zeiss Meditec AG
- HOYA Corporation
- Abbott Medical Optics (Abbott Laboratories)
- Essilor International S.A. (Subsidiary of EssilorLuxottica)
- STAAR Surgical Company
- NIDEK CO. Ltd.
- Topcon Corporation
- Ziemer Ophthalmic Systems AG
- Rayner Intraocular Lenses Limited
- HumanOptics AG
- Oculentis GmbH
- Aaren Scientific Inc.
