Market Scope forecasts that the cataract surgical equipment market will grow at a compound annual growth rate (CAGR) of 5.6 percent a year, totaling $2 billion by 2022.
Cataracts are a leading cause of blindness in the world, and cataract surgery is one of the most common surgical procedures, with more than 26 million surgeries expected to be performed in 2017. Procedure volume is growing at a compounded rate of 3.1 percent per year, driven by demographic changes and increased access to health care. In addition, standards for cataract surgery are advancing worldwide, resulting in demand for more advanced equipment.
Ultrasonic phacoemulsification (USP) is the standard of care for cataract surgery in all wealthy nations, and the technique is making strides toward becoming the standard in less developed regions. Currently, the majority of cataract and RLE procedures are performed either by phacoemulsification or manually using a technique called extracapsular cataract extraction (ECCE). We estimate that ultrasonic phacoemulsification will be used in more than two-thirds of cataract and RLE procedures globally in 2017. Femtosecond laser-assisted cataract surgery (FLACS), introduced in 2011, has opened a new revenue stream in the cataract equipment market and has helped expand the premium private pay cataract surgery channel globally. Market Scope is predicting that FLACS plus USP will account for 1.1 million of global cataract surgeries by 2022.
The global cataract equipment market is dominated by three companies, Alcon, Johnson & Johnson Vision, and Bausch + Lomb, each with broad product lines and direct global sales coverage in major markets. These companies are expected to generate nearly three-quarters of global cataract equipment revenues in 2017. The smaller market participants tend to concentrate on certain regions and have more limited product offerings. Carl Zeiss Meditec, DORC, Nidek, Oertli, and Optikon are the largest of these companies. The emerging FLACS market includes LENSAR and Ziemer.
Market Scope published its 2017 Cataract Surgical Equipment Report: A Global Market Analysis for 2016 to 2022 in June 2017. It is the only report that provides in-depth coverage of cataracts and cataract surgery providers; current phaco markets and technologies in the pipeline; phaco packs and accessories; the femtosecond laser cataract surgery market segment; automated capsulotomy devices; and the photodisruptor market used in treating cataracts. This report includes market data for 2016, and we forecast market performance through 2022. Our forecast also subdivides the cataract equipment market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.