19.07.2018 Views

Cataract Surgery Devices Market is Witnessing Phenomenal Growth by 2023

Cataract surgery devices market was valued at $7,025 million in 2016, and is projected to reach $9,587 million by 2023, growing at a CAGR of 4.3% from 2017 to 2023. The intraocular lenses (IOLs) segment accounted for half share of the global market in 2016.

Cataract surgery devices market was valued at $7,025 million in 2016, and is projected to reach $9,587 million by 2023, growing at a CAGR of 4.3% from 2017 to 2023. The intraocular lenses (IOLs) segment accounted for half share of the global market in 2016.

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Introductionof<br />

<strong>Cataract</strong> <strong>Surgery</strong> <strong>Devices</strong> <strong>Market</strong><br />

The cataract surgery devices market was valued at $7,025 million in 2016, and <strong>is</strong><br />

projected to reach $9,587 million <strong>by</strong> <strong>2023</strong>, growing at a CAGR of 4.3% from 2017 to<br />

<strong>2023</strong>. The intraocular lenses (IOLs) segment accounted for half share of the global<br />

market in 2016.<br />

<strong>Cataract</strong> <strong>is</strong> a condition in which clouding of the lens occurs. <strong>Cataract</strong> surgery devices<br />

are instruments and consumables, such as intraocular lens (IOLs), salt solutions,<br />

forceps, syringe, liquids for scrubbing, and various hand pieces, which aid in a cataract<br />

surgery. These surgery devices help enter vitreous cavity and separating the natural<br />

lens from the cavity.<br />

Increase in incidences of d<strong>is</strong>eases such as diabetes, obesity, and hypertension. In<br />

addition, the growth in geriatric population also boosts the growth of the market as<br />

geriatric population <strong>is</strong> more prone to cataract ailments. However, dearth of skilled<br />

professionals restrain the growth of the market. Moreover, government and non-profit<br />

organizations introduce programs to reduce the burden of cataract-related d<strong>is</strong>eases<br />

globally, which create lucrative opportunities for key market players.

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