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Ocular Surgery Market – Insights

Blindness is caused due to various factors such as cataract, glaucoma, birth defects, macular degeneration, and eye injuries. Persons with diabetes are at a heightened risk of blindness. The risk of cataract increases due to personal habits such as smoking, alcohol use, and environmental factors such as prolonged exposure to ultraviolet light.

Cataract remains the leading cause of blindness in low and middle-income countries. According to World Health Organization (WHO), in 2014, 47.8% of blindness across the world was caused by cataract, followed by glaucoma. Cataract surgery removes clouding from the natural lens of the eye and involves insertion of an artificial lens. It is most commonly observed among people in the age group of 40 years and above. Laser-assisted cataract surgery uses a femtosecond laser which has replaced the use of handmade incisions. This innovative technique uses computerized mapping and 3-D measurements to remove cataracts accurately and precisely.

Glaucoma is a disease that damages the optic nerve of the eye and glaucoma surgery is carried out to reduce the intraocular pressure. According to Bright Focus Foundation, in 2017, over 3 million people in the U.S. were estimated to be suffering from glaucoma, out of which, around 2.7 million affected by open-angle glaucoma were in the age group of 40 years and above. Laser surgery to treat glaucoma is used more frequently than conventional form of surgery. Laser in glaucoma surgery is used to make a small opening in the eye’s drainage system that helps to increase fluid drainage from the eye.

The global ocular surgery market was valued at US$ 1,701 million in 2019, and is expected to witness a CAGR of 7.3% over the forecast period (2019 – 2027).

Global Ocular Surgery Market Share (%) Analysis, By Procedure, 2019

Ocular Surgery  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Advancements in Ocular Surgery and New Launches of Ocular Devices is expected to Drive Growth of the Global Ocular Surgery Market

In cataract surgery, conventional methods such as phacoemulsification (phaco) are safe and effective only when performed by a skilled surgeon. Incisions in the cornea are made using handheld blades. Laser-assisted cataract surgery has replaced steps in the conventional cataract surgery. Laser technology results in fewer surgical errors and its outcomes are predictable. In 2016, Alcon launched the NGENUITY 3D Visualization system, which offers enhanced visualization, improves the surgeon’s posture while performing the surgery and reduces fatigue. It also minimizes light exposure to the patient’s eye.

Global Ocular Surgery Market - Regional Insights

On the basis of region, the global ocular surgery market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global ocular surgery market owing to increasing prevalence of eye related disorders in the region. For instance, according to the National Federation of the Blind, in 2014, around 1.3 million people were legally blind in the U.S. and an estimated 75,000 people in the U.S. are expected to become blind or visually impaired every year.

Europe is the fastest growing region in the global ocular surgery market owing to increasing rate of cataract surgery which is expected to drive growth of the ocular surgery market in Europe. For instance, according to European Commission, it is estimated that around 4.5 million cataract surgeries were performed in 2016 in Europe.  

Global Ocular Surgery Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2027

Ocular Surgery  | Coherent Market Insights

 Source: Coherent Market Insights Analysis (2019)

Global Ocular Surgery Market - Competitive Landscape

Key players operating in the global ocular surgery market include Johnson & Johnson Vision Care Inc., Alcon, Carl Zeiss, Meditec Medical, Bausch & Lomb, Ellex Medical Lasers, Topcon Medical Systems, Dutch Ophthalmic Research Center (International) B.V. (DORC) and Lumenis.

Ocular surgery, also known as eye surgery, is a common treatment for vision problems caused by cataract, glaucoma, refractive errors etc. This visual impairment, if not treated, can cause blindness. According to the World Health Organization (WHO), in 2019, around 2.2 billion people had vision impairment or blindness, out of whom at least 1 billion had vision impairment that could have been prevented or has yet to be addressed, and majority of people with vision impairment are over the age of 50.

Market Dynamics

Increasing prevalence of ocular disease such as cataract and glaucoma has led to increasing demand for ocular surgery worldwide. According to European Blind Union, in 2016, over 30 million people were partially sighted or blind in Europe; an average of 1 in 30 people experience sight loss; and around 90% of visually impaired persons were in the age group of 65 years and above in the region. Rapidly increasing aging population and high incidence of diabetes are the major factors propelling growth of the ocular surgery market. Furthermore, companies are developing advanced methods of treatments which are much faster, easier, pain-free and less traumatic than conventional methods. This, in turn, is expected to contribute to the growth of the ocular surgery market.

However, low awareness related to ocular disease and inadequate healthcare infrastructure in emerging economies is major factor that is expected to restrain the growth of the global ocular surgery market.

Key features of the study:

  • This report provides in-depth analysis of the global ocular surgery market, market size (US$ Mn), and compound annual growth rate (CAGR %) during the forecast period: 2019 – 2027, considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players operating in this market
  • It profiles key players in the global ocular surgery market based on the following parameters–company overview, financial performance, product portfolio, geographical presence, key developments, and strategies.
  • Key players covered as a part of this study include Johnson & Johnson Vision Care Inc., Alcon, Carl Zeiss, Meditec Medical, Bausch & Lomb, Ellex Medical Lasers, Topcon Medical Systems, Dutch Ophthalmic Research Center (International) B.V. (DORC) and Lumenis.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
  • The global ocular surgery market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for global ocular surgery market, research and consulting firms, new entrants, and financial analysts

Detailed Segmentation:

  • Global Ocular Surgery Market, By Procedure Type:
    • Cataract Surgery
    • Glaucoma Surgery
    • Vitrectomy Surgery
  • Global Ocular Surgery Market, By Device Type :
    • Cataract Surgery Devices
      • IOL (Intraocular Lenses)
      • OVD (Ophthalmic Viscosurgical Devices)
      • Phacoemulsification Devices
    • Glaucoma Surgery Devices  
      • GDD (Glaucoma Drainage Device)
      • Implants and Stents
      • Lasers and Systems  
    • Vitrectomy Surgery Devices
      • Vitrectomy Packs
      • Vitrectomy Machines
  • Global Ocular Surgery Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Procedure Type:
        • Cataract Surgery
        • Glaucoma Surgery
        • Vitrectomy Surgery
      • By Device Type :
        • Cataract Surgery Devices
          • IOL (Intraocular Lenses)
          • OVD (Ophthalmic Viscosurgical Devices)
          • Phacoemulsification Devices
        • Glaucoma Surgery Devices  
          • GDD (Glaucoma Drainage Device)
          • Implants and Stents
          • Lasers and Systems  
        • Vitrectomy Surgery Devices
          • Vitrectomy Packs
          • Vitrectomy Machines
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Procedure Type:
        • Cataract Surgery
        • Glaucoma Surgery
        • Vitrectomy Surgery
      • By Device Type :
        • Cataract Surgery Devices
          • IOL (Intraocular Lenses)
          • OVD (Ophthalmic Viscosurgical Devices)
          • Phacoemulsification Devices
        • Glaucoma Surgery Devices  
          • GDD (Glaucoma Drainage Device)
          • Implants and Stents
          • Lasers and Systems  
        • Vitrectomy Surgery Devices
          • Vitrectomy Packs
          • Vitrectomy Machines
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Procedure Type:
        • Cataract Surgery
        • Glaucoma Surgery
        • Vitrectomy Surgery
      • By Device Type :
        • Cataract Surgery Devices
          • IOL (Intraocular Lenses)
          • OVD (Ophthalmic Viscosurgical Devices)
          • Phacoemulsification Devices
        • Glaucoma Surgery Devices  
          • GDD (Glaucoma Drainage Device)
          • Implants and Stents
          • Lasers and Systems  
        • Vitrectomy Surgery Devices
          • Vitrectomy Packs
          • Vitrectomy Machines
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Procedure Type:
        • Cataract Surgery
        • Glaucoma Surgery
        • Vitrectomy Surgery
      • By Device Type :
        • Cataract Surgery Devices
          • IOL (Intraocular Lenses)
          • OVD (Ophthalmic Viscosurgical Devices)
          • Phacoemulsification Devices
        • Glaucoma Surgery Devices  
          • GDD (Glaucoma Drainage Device)
          • Implants and Stents
          • Lasers and Systems  
        • Vitrectomy Surgery Devices
          • Vitrectomy Packs
          • Vitrectomy Machines
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Procedure Type:
        • Cataract Surgery
        • Glaucoma Surgery
        • Vitrectomy Surgery
      • By Device Type :
        • Cataract Surgery Devices
          • IOL (Intraocular Lenses)
          • OVD (Ophthalmic Viscosurgical Devices)
          • Phacoemulsification Devices
        • Glaucoma Surgery Devices  
          • GDD (Glaucoma Drainage Device)
          • Implants and Stents
          • Lasers and Systems  
        • Vitrectomy Surgery Devices
          • Vitrectomy Packs
          • Vitrectomy Machines
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Procedure Type:
        • Cataract Surgery
        • Glaucoma Surgery
        • Vitrectomy Surgery
      • By Device Type :
        • Cataract Surgery Devices
          • IOL (Intraocular Lenses)
          • OVD (Ophthalmic Viscosurgical Devices)
          • Phacoemulsification Devices
        • Glaucoma Surgery Devices  
          • GDD (Glaucoma Drainage Device)
          • Implants and Stents
          • Lasers and Systems  
        • Vitrectomy Surgery Devices
          • Vitrectomy Packs
          • Vitrectomy Machines
    • Company Profiles
      • Johnson & Johnson Vision Care Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Alcon
      • Carl Zeiss
      • Meditec Medical
      • Bausch & Lomb
      • Ellex Medical Lasers
      • Topcon Medical Systems
      • Dutch Ophthalmic Research Center (International) B.V. (DORC)
      • Lumenis

 “*” marked represents similar segmentation in other categories in the respective section.

FAQ

Frequently Asked Questions

The global ocular surgery market is estimated to surpass US$ 2,996 Million by 2027.
Major players operating in the global ocular surgery market include Johnson & Johnson Vision Care Inc., Alcon, Carl Zeiss, Meditec Medical, Bausch & Lomb, Ellex Medical Lasers, Topcon Medical Systems, Dutch Ophthalmic Research Center (International) B.V. (DORC), and Lumenis.
Among procedure type, cataract surgery segment is expected to account for a major revenue share by 2027.
Rising number of cataract and glaucoma surgeries is one of the major factors that is expected to propel growth of the market over the forecast period.
The global ocular surgery market is estimated to exhibit a CAGR of 7.3% over the forecast period.
Among regions, North America is expected to hold dominant position in the market over the forecast period.
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