Global Ocular Surgery Market, by Procedure Type (Cataract Surgery, Glaucoma Surgery, Vitrectomy Surgery, and Refractive Error Surgery), by Device Type (Cataract Surgery Devices {IOL (Intraocular Lenses), OVD (Ophthalmic Viscosurgical Devices), and Phacoemulsification Devices}, Glaucoma Surgery Devices {GDD (Glaucoma Drainage Device), Implants and Stents, and Lasers and Systems}, Vitrectomy Surgery Devices {Vitrectomy Packs, and Vitrectomy Machines}, Refractive Error Surgery Devices {Exciplex lasers, YAG (yttrium aluminum garnet) Lasers, Microkeratomes, and Femtosecond Lasers}), by End User (Hospitals, Ophthalmic clinics, Others (Academic and Research Institutions, among others)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 10,444.4 million in 2022 and is expected to exhibit a CAGR of 5.1% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the global ocular surgery market growth over the forecast period.
For instance, in June 2020, Johnson & Johnson Vision, a U.S. based subsidiary of Johnson & Johnson Services, Inc. announced that it received the U.S. Food and Drug Administration (FDA) clearance for its CATALYS cOS 6.0 Software, which is used with the CATALYS Precision Laser System to provide eye surgeons with accuracy and precision in astigmatism management for cataract patients.
Moreover, in August 2019, Alcon, an American Swiss medical company specializing in surgical and vision care products announced that it has received the U.S. Food and Drug Administration (FDA) approval for its trifocal intraocular lens called AcrySof IQ PanOptix, which is used for lens replacement in cataract surgery.
Global Ocular Surgery Market – Impact of Coronavirus (Covid-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 370 million cases and 4.6 million deaths due to Coronavirus (COVID-19) were reported up till January 30, 2022, across the globe.
The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the global ocular surgery market, owing to disruption of ocular surgery training due to lockdown. For instance, according to a study conducted in Poland to evaluate the impact of COVID-19 pandemic on ophthalmology residency training, and published by the PLOS ONE journal in September 2021, around 88.9% of ophthalmology residents responded that COVID-19 pandemic had severely impacted their surgical training, especially those trainees who were providing care for COVID-19 patients indicated a greater negative impact of the pandemic on acquisition of specialization skills.
Browse 49 Market Data Tables and 37 Figures spread through 172 Pages and in-depth TOC on “Ocular Surgery Market”- Global Forecast to 2030, by Procedure Type (Cataract Surgery, Glaucoma Surgery, Vitrectomy Surgery, and Refractive Error Surgery), by Device Type (Cataract Surgery Devices {IOL (Intraocular Lenses), OVD (Ophthalmic Viscosurgical Devices), and Phacoemulsification Devices}, Glaucoma Surgery Devices {GDD (Glaucoma Drainage Device), Implants and Stents, and Lasers and Systems}, Vitrectomy Surgery Devices {Vitrectomy Packs, and Vitrectomy Machines}, Refractive Error Surgery Devices {Exciplex lasers, YAG (yttrium aluminum garnet) Lasers, Microkeratomes, and Femtosecond Lasers}), by End User (Hospitals, Ophthalmic clinics, Others (Academic and Research Institutions, among others)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global ocular surgery market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ocular-surgery-market-826
Key players operating in the market are focusing on adoption of inorganic growth strategies such as collaborations and acquisitions, in order to strengthen their position in the market. For instance, in March 2019, Alcon announced that it has acquired PowerVision, Inc., a U.S. based optical device development company specialized in creating fluid-based intraocular lens implants which are used in ocular surgery.
Key Takeaways of the Global Ocular Surgery Market:
- The global ocular surgery market is expected to exhibit a CAGR of 5.1% over the forecast period, owing to presence of strong pipeline products. For instance, in December 2021, Alcon, an American Swiss medical company specializing in surgical and vision care products, announced the expansion of its intraocular lens portfolio with Clareon® Toric Aspheric Hydrophobic Acrylic IOL, an intraocular lens preloaded in the AutonoMe delivery system used to correct astigmatism and cataracts during ocular surgery.
- Among procedure type, cataract surgery segment is expected to account for the largest market share in 2022, owing to market players focusing on launching ocular surgery products. For instance, in October 2020, HelpMeSee, a U.S. based non-profit organization launched its new HelpMeSee Eye Surgery Simulator in order to support the training of eye surgeons on the MSICS (Manual Small Incision Cataract Surgery) procedure, which can be used to end the cataract blindness crisis, globally.
- Key players operating in the global ocular surgery market include Johnson & Johnson Services, Inc., Vision Care, Alcon, Carl Zeiss AG, Meditec Medical Ltd, Bausch & Lomb Incorporated, Ellex, Ziemer Ophthalmic Systems, Topcon Corporation, D.O.R.C. Dutch Ophthalmic Research Center (International) B.V., Lumenis Be Ltd., Glaukos Corporation, Aaren Scientific Inc., HOYA Corporation, Rayner Intraocular Lenses Limited, SCHWIND eye-tech-solutions, Avedro, LENSAR, Inc., and, iVIS Technologies.
