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Phacoemulsification Devices Market size to grow by USD 622.54 million from 2023-2028, North America to account for 40% of market growth - Technavio
NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The phacoemulsification devices market size is expected to grow by USD 622.54 million from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 5.36% during the forecast period, according to Technavio Research. The market is categorized by Product (Phacoemulsification consumables and Phacoemulsification systems), End-user (Hospitals, Clinics, and Research institutes), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America is a significant region during the forecast period, with a contribution of 40% to the global market growth. A growth in the per capita public expenditure on healthcare can be observed in North America every year. According to The World Bank Group, the health expenditure per capita in the US grew 2.7 percent in 2021. It reached USD 4.3 trillion or USD 12,914 per person, thereby leading to the growing adoption of phacoemulsification devices among people with visual impairment due to cataracts. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report
Alcon Inc., Bausch Health Companies Inc., Carl Zeiss AG, Escalon Medical Corp., Glaukos Corp., Halma Plc, HOYA Corp., HumanOptics Holding AG, Johnson and Johnson, Lenstec Inc., LIGHTMED Corp., LUMed GmbH, Medical Technical Products, Metall Zug AG, NIDEK Co. Ltd., Rayner, SIFI SPA, STAAR Surgical Co., Topcon Corp., Ziemer Ophthalmic Systems AG
Alcon Inc: The company offers phacoemulsification devices that provide eye care products which include eye vitamin soft gels, systole caps, eye vitamin chewable, and systole caps eye vitamin tablets, under the brand name Alcon.
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Phacoemulsification Devices Market: Segmentation Analysis
- The phacoemulsification consumables segment is significant during the forecast period. This segment comprises products that are used in conjunction with the phacoemulsification systems while performing cataract surgery using phaco technology. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio
Phacoemulsification Devices Market: Driver & Trend:
- Increasing prevalence of cataracts
- Technological advances in phacoemulsification
- Initiatives to increase awareness and access to phacoemulsification in developing countries
The growing prevalence of cataracts has been increasing across the globe. According to this, four out of 10 people are likely to develop cataracts at some stage in their lives. Furthermore, the number of cataract surgeries performed worldwide is estimated to increase from more than 20 million surgeries in 2017 to over 35 million surgeries by 2025.
Glaucoma surgery combined with cataract surgery via phacoemulsification is an emerging market trend. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.
The ophthalmic femtosecond lasers market size is expected to increase by USD 199.54 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.45%.
The cataract surgery devices market is estimated to grow at a CAGR of 5.94% between 2022 and 2027. The size of the market is forecast to increase by USD 2,056.34 million.
What are the key data covered in this phacoemulsification devices market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the phacoemulsification devices market between 2023 and 2028.
- Precise estimation of the phacoemulsification devices market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the phacoemulsification devices market across North America, Europe, Asia, and ROW
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of phacoemulsification devices market vendors.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by End-user
Market Segmentation by Geography
Drivers, Challenges, & Trends
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