The growing incidence of diabetes, and high blood pressure along with the rising geriatric population has resulted in burgeoning cases of cataracts. This in turn has propelled the growth of the cataract treatment market. Cataract is among the leading causes of blindness and a surgery is the only available treatment presently. In cataract surgery treatment, natural clouded lens is replaced with clean artificial lens. This treatment procedure involves the usage of a wide range of instruments and devices called ophthalmic viscoelastic devices. In addition, robust cataract awareness campaigns such as cataract camps, and conducive government reimbursement policies, are driving the profound growth of the market. Moreover, faster FDA approvals on drugs for use in cataract surgery is creating positive outcomes. The cumulative forces of these factors are driving the growth of the global cataract treatment market.
Diverse Application Pool of FLACS to Create Seismic Waves of Growth
The deployment of new technologies for the treatment of cataracts is driving the growth for the cataract treatment market. The rising demand for minimally invasive surgeries has provided significant momentum to femtosecond laser-assisted cataract surgery (FLACS). Numerous benefits of FLACS over traditional cataract surgery have boosted its adoption for such cataract procedures. High precision in shape and size of capsulotomy, endothelial cell reduction, higher accuracy in corneal incisions, along with better refractive stability, are some of the benefits of FLACS. These benefits have been instrumental in increasing its adoption across the surgeon community. This preference for FLACS in turn is auguring growth in the global cataract treatment market.
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Advancements in Intraocular Lenses to Lead Global Cataract Treatment Market to Fruition
In the last decade, the manufacturing process of intraocular lenses (IOLs) has witnessed significant transformation. IOL manufacturing is classified into two major subsections. IOLs are used for patients with refractive errors or those who prefer multifocality. Several notable market players have been adopting revolutionary techniques such as intraocular lenses (IOLs) to maintain a competitive edge in the market. These lenses are currently undergoing trails and have exhibited extremely promising results. Magnetically adjustable IOLs are another subsection that is presently being studied at top medical tech universities across the globe. The rising trend of flexibility and customization of IOLs is further boosting their demand. The global cataract treatment market shall sustain its sound growth trajectory in such market conditions.
North America to Dominate Owing to Availability of Technologically Advanced Surgical Procedures
North America is expected to dominate the global cataract treatment market during the forecast period. The availability of technologically advanced surgical procedures and IOLs coupled with favourable reimbursement policies of the US Government are propelling growth for the regional market. Meanwhile, Asia Pacific is also expected to experience a rise in cataract procedures and exhibit the highest cumulative growth rate during the forecast period. The rising disposable incomes, high number of private insurance policies, and government camps are influencing market expansion.
Prominent Market Players
Some of the major players in the global cataract treatment market include Zeimer Ophthalmic Systems AG, Nidek Co. Ltd., Alcon, Novartis, Carl Zeiss, Infinite Vision Optics, Topcon Corporation, and Clarvista Medical.
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