The Phacoemulsification Systems Market is projected to grow at 4.5% CAGR in 2020-2031 with a market size of 454.3 Million
Phacoemulsification is a modern approach for cataract surgery, also known as a cataract extraction technique where the focal point is split by ultrasonic vibrations while being flooded and suctioned at the same time. Because of the small entrance site, this technique usually results in faster-twisted recovery and early refractive blunder correction with reduced astigmatism. The use of phacoemulsification devices allows for cataract surgery to be performed. The suction/vacuum section of a phacoemulsification system will be one of the most crucial components. Peristaltic and venturi pumps are the most common types of pumping frameworks (suctioning). Dedicated chips for measuring in-line vacuum pressure are available on several phaco and vitrectomy frames. New phacoemulsification methods are now available that are versatile. Irrigation, aspiration, and ultrasonography are the three main components of all phaco systems.
Remote control for responsiveness and productivity in every scenario, a simplified graphical user interface (UI), wireless remote control, and streamlined integration with similarities crosswise over the most inexpensively accessible cautery cables are all aspects of advanced systems. Hardware manufacturers have responded with remarkable innovations, bringing phaco technology to the polished levels that we see today. The market for phacoemulsification devices is rapidly gaining popularity, and it is likely to become a widely used cataract surgery approach in many areas of the world sooner than expected.
Key Trends & Drivers
In recent years, the market for phacoemulsification systems has seen a surge in demand. The overall expansion of the phacoemulsification systems market would attribute to the increased collaboration between key manufacturers and hospitals. The healthcare market is growing at a rate of 20% each year. Newly developed phacoemulsification systems are creating the demands to save patients and cut costs by avoiding unnecessary procedures. The aging population has a significant impact on the rate of disorders such as cataracts, glaucoma, and presbyopia. Phacoemulsification systems are becoming universal across the world, owing to the growing elderly population. Cataracts affect over half of the people in the United States and Europe, and they have become the well-recognized cause of vision loss in the world.
According to the Centers for Disease Control and Prevention, roughly 3 million cataract operations are conducted in the United States each year and 20 billion in total, with 99.5 percent of patients experiencing little or no postoperative complications. North America controls a substantial chunk of the worldwide phacoemulsification systems market. It is influenced by the growing demand for new technologies, also an increase in the number of eye operations performed in the United States and across the world.
Key players
Due to the presence of numerous worldwide as well as new competitors, the global phacoemulsification devices market is extremely fragmented. Some of the major players in the market are Alcon Inc., Foamix Ltd., Abbott Medical Optics Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated and others
Regional Assessment
North America, Latin America, Europe, Asia Pacific, & the Middle East, and Africa are the five areas in which the phacoemulsification systems market is divided (MEA). The global phacoemulsification market, which includes cataract operations, is rapidly expanding at a high CAGR. Because of the vast number of manufacturers, technical advancements, and increased brand awareness about future systems, the United States has a massive market. By volume & value, North America has the largest share of the phacoemulsification market, followed by Europe. France, Japan, and Spain. They all have developed effective nonexclusive rules for purchasing innovative technologies for conducting various eye operations. During the projected period, phacoemulsification systems are likely to have increased productivity.
During the projection period, Asian & Latin American nations such as China, India, Brazil, & Mexico would have a profitable market opportunity. The total demand for phacoemulsification systems will increase by government financing & growth in numerous ophthalmic care hospitals and surgical centers. The increased expansion of the phacoemulsification systems market is because of top manufacturers infiltrating undeveloped regions to gain more market share.
However, because of the reduced costs of the surgery, manual and sutureless Small-Incision Cataract Surgery (SICS) is preferred in emerging countries such as China and India. Furthermore, the technologys widespread adoption is limiting by budgetary restrictions, insufficient technical resources, and a lack of complete reimbursement for cataract operations. Medical equipment makers in the Asia-Pacific area are beginning to form alliances and acquisitions, improving the efficacy of healthcare infrastructure & healthcare personnel in diverse locations.
Report Highlights
• Historical data available (as per request)
• Estimation/projection/forecast for revenue and unit sales (2021-2031)
• Data breakdown for every market segment (2021-2031)
• Gross breakdown for every market segment (2021-2031)
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry and Revenue Segmentation
Disease Indication Analysis (Revenue, USD Million, 2020-2031)
• Cataract
• Presbyopia
• Glaucoma
• Others
End-User Analysis (Revenue, USD Million, 2020-2031)
• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
Key Company Analysis (Revenue, USD Million, 2020-2031)
• Alcon Inc. (Novartis)
• Foamix Ltd.
• Abbott Medical Optics Inc.
• LIGHTMED
• NIDEK CO., LTD.
• Carl Zeiss Meditec AG
• Bausch & Lomb Incorporated
• OPTIKON 2000 SpA
Regional Analysis (Revenue, USD Million, 2020 – 2031)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United kingdom
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• UAE
• Qatar
• Saudi Arabia
• Japan
• Africa
• Rest of the world
Available Versions:
• United States Phacoemulsification Systems Industry Research Report
• Europe Phacoemulsification Systems Industry Research Report
• Asia Phacoemulsification Systems Industry Research Report
