Global Cataract Treatment Market Growth Study 2019: Key Players are Abbott, Johnson & Johnson Services, Inc, Novartis AG, HOYA Corporation, Carl-Zeiss-Stiftung
This report provides an all-inclusive and accurate research study on the Global Cataract Treatment Market while chiefly focusing on current and historical market scenarios. The subject matter experts and team of highly-skilled researchers have put in hours of work to collate an authentic research report on the industry. The report displays a fresh market research study that explores several significant facets related to Global Cataract Treatment Market covering industry environment, segmentation analysis, and competitive landscape. The economic growth for Global Cataract Treatment Market in the developing countries of Asia-Pacific seems to be quite impressive and these countries are expected to offer ample growth opportunities for the market.
Market Analysis:
Cataract treatment market is growing at a substantial CAGR in the forecast period of 2020-2027. The report contains data of the base year 2019 and historic year 2018. This rise in market value can be attributed to the increasing programmes of government and non-profit organizations to reduce the burden of cataract-related diseases worldwide.
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Key Market Players:
The key market players in the cataract treatment market are Abbott, Johnson & Johnson Services, Inc, Novartis AG, HOYA Corporation, Carl-Zeiss-Stiftung, Alcon Vision LLC, Essilor, Ziemer Ophthalmic Systems, Bausch Health, GENZUM LIFE SCIENCES, AbbVie Inc, Santen Pharmaceutical Co., Ltd, Omeros Corporation, Sun Pharmaceutical Industries Ltd, EyePoint Pharmaceuticals, Reata Pharmaceuticals, Inc, Acumen BioPharma, LLC among others.
Competitive Analysis:
Cataract treatment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of cataract treatment for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Global Cataract Treatment Market By Types (Nuclear Cataracts, Cortical Cataracts, Posterior Subcapsular Cataracts and Congenital Cataracts), Treatment (Medication and Surgery), Drugs Class (Mydriatics, Antibiotics, Ophthalmic NSAIDs, Corticosteroids and Others), Route of Administration (Oral, Topical), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy), End-Users (Hospitals, Homecare, Specialty Clinics and Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2027
Market Outlook: Global Cataract Treatment Market
Cataract is a condition of blurry vision due to clouding of lens in the eye which has an impact in the vision as it decreases the vision. This condition results from the clumping of the proteins which forms the lens in the eye. Cataracts develop slowly and can affect one or both eyes. Symptoms include increased difficulty in vision at night, sensitivity to light and glare, double vision in a single eye.
According to the Laser Eye Surgery Hub, each year approximately 330,000 cataract operations are performed in England alone. It is estimated that about 30% people aged 65 years or older are suffering from visually impairing cataract in one or both eyes.
Market Drivers
- Rising prevalence of cataract disease is driving the market growth
- Growing incidences of diseases such as diabetes, obesity and hypertension may boost the market growth
- Technological advancements in ophthalmic disorder treatments is accelerating the market growth
- Rise in aging population worldwide is enhancing the market growth for cataract treatment
Market Restraints
- Less awareness among individuals regarding the benefits of cataract surgery restrain the market growth
- Unavailability of healthcare insurance will hamper the market growth
- High cost associated with cataract surgeries is hindering the market for cataract treatment
- Dearth of skilled professionals is also restraining the market growth
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Global Cataract Treatment Market Scope and Market Size:
Cataract treatment market is segmented of the basis of type, treatment, drugs class, drugs, route of administration, distribution channel and end user. The growth among these specific segments will help users analyze niche pockets of growth and strategies to approach the market and determine your core application areas and difference in your target markets.
Based on types, the cataract treatment market is segmented as nuclear cataracts, cortical cataracts, posterior subcapsular cataracts and congenital cataracts.
Based on treatment, the cataract treatment market is segmented as medication and surgery.
Based on the drugs class, the cataract treatment market is segmented into mydriatics, antibiotics, ophthalmic NSAIDS, corticosteroids and others.
Based on the route of administration, the cataract treatment market is segmented into oral and topical.
Based on the distribution channel, the cataract treatment market is segmented as hospital pharmacy, online pharmacy, retail pharmacy.
Based on end user, the cataract treatment market is segmented into hospitals, homecare, specialty clinics and others.
Global Cataract Treatment Market Country Level Analysis
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Hungary, Lithuania, Austria, Ireland, Norway, Poland, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Vietnam, Rest of Asia-Pacific in Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Israel, Egypt, Kuwait, Rest of Middle East and Africa as a part of Middle East and Africa, Argentina, Brazil, Peru and Rest of South America as part of South America.
Key Developments in the Market
- In February 2018, EyePoint Pharmaceuticals received the U.S FDA approval for the Dexycu (dexamethasone); intraocular suspension is administered as a single dose at the end of cataract surgery and to treat postoperative inflammation. The approval of Dexycu will help patients who experiences problems after cataract surgery throughout the world.
- In November 2017, RxSIGHT received the U.S FDA approval for Light Delivery Device and Light Adjustable Lens implanted lens that can be adjusted after cataract surgery to improve vision without eyeglasses in some patients. The approval of this device represents innovative approach for treatment paradigms and to improve the quality of their vision of patients underwent cataract surgery.
Reasons to Purchase this Report:
- Current and future of global cataract treatment market outlook in the developed and emerging markets.
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period.
- The latest developments, market shares, and strategies that are employed by the major market players.
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