Authored By: Sarah
11 Jul 2024

 Phacoemulsification Devices Market Size to grow by USD 622.54 million between 2024-2028

According to a research report “ Phacoemulsification Devices Market” by Product (Phacoemulsification consumables, Phacoemulsification systems) End-user (Hospitals, Clinics, Research institutes) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 622.54 million, at a CAGR of  5.36% during the forecast period. Cataracts, a condition characterized by clouding of the eye lens, pose a significant threat to vision and, if left untreated, can lead to blindness. According to the National Institutes of Health (NIH), more than half of Americans aged 80 and above either live with cataracts or have undergone cataract surgery. The global prevalence of cataracts is on the rise, with approximately 40% of the population expected to develop this condition at some point in their lives. The World Health Organization (WHO) estimates that over 20 million cataract surgeries were performed worldwide in 2017, a number projected to reach over 35 million by 2025. In both developed and developing countries, cataracts are a leading cause of low vision. This increasing demand for cataract surgeries presents a substantial business opportunity for manufacturers of Phacoemulsification devices, the most commonly used surgical method for cataract removal.

Browse market data tables, figures, and in-depth TOC on “Phacoemulsification Devices Market” by Product (Phacoemulsification consumables, Phacoemulsification systems) End-user (Hospitals, Clinics, Research institutes) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Product, the Phacoemulsification consumables segment is projected to dominate the market size in 2024

In the global phacoemulsification devices market, hospitals represent the largest consumer base, accounting for a significant market share. Hospitals specializing in ophthalmology care maintain strategic partnerships with manufacturers, enabling them to procure advanced ophthalmology surgical devices at reduced prices directly. The adoption of technologically superior phacoemulsification devices in hospitals is on the rise, particularly in developed countries, due to increasing disposable income and heightened awareness about cataract surgery. The growing number of individuals opting for advanced cataract surgery procedures in these regions further boosts market growth.

By End-user, Hospitals  segment is expected to hold the largest market size for the year 2024

Phacoemulsification consumables refer to essential products utilized in conjunction with phacoemulsification systems during cataract surgery. These consumables encompass phaco handpieces, phaco tips, foot pedals, phacoemulsification packs, capsular tension rings, and other accessories that optimize the functionality of phacoemulsification technology. Phacoemulsification is a prevalent surgical method for cataract removal, employing ultrasound waves to fragment the internal lens, which is subsequently aspirated from the eye using an ultrasonic handpiece. Phacoemulsification consumables are offered in both single-use and reusable formats. Market vendors are continually innovating to enhance the performance of these consumables. For instance, Medical Technical Products provides a comprehensive selection of phaco accessories, including F-Sonic phaco tip sets, which feature a three-stage tip end geometry and augment the grip during cataract extraction.

North America is forecasted to hold the largest market size by region in 2024

In North America, the escalating per capita healthcare expenditure, which reached USD12,914 in the US in 2021, has resulted in a significant increase in the adoption of phacoemulsification devices for cataract surgery. Factors fueling this market growth include enhanced healthcare infrastructure, government initiatives, funding for eye diseases and vision care, and favorable reimbursement policies in developed countries like the US and Canada. Global companies manufacturing cataract surgery products are also expanding their presence in this region, further driving market expansion.

The Phacoemulsification Devices Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alcon Inc.
  • Bausch Health Companies Inc.
  • Carl Zeiss AG
  • Escalon Medical Corp.
  • Glaukos Corp.
  • Halma Plc
  • HOYA Corp.
  • HumanOptics Holding AG
  • Johnson and Johnson
  • Lenstec Inc.
  • LIGHTMED Corp.
  • LUMed GmbH
  • Medical Technical Products
  • Metall Zug AG
  • NIDEK Co. Ltd.
  • Rayner
  • SIFI SPA
  • STAAR Surgical Co.
  • Topcon Corp.
  • Ziemer Ophthalmic Systems AG
.

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Research Analysis Overview

Phacoemulsification is a modern and widely used surgical procedure in ophthalmology for the treatment of blindness caused by clouded lenses, such as cataracts. The process involves the use of ultrasonic vibrations from a Phaco probe to break down the cataractous lenses into minuscule particles, which are then easily removed through small incisions. The procedure preserves the natural lens capsule and the surrounding structures, including the cornea and sclera. Viscoelastic agents are used during the procedure to maintain the shape of the eye and protect the delicate structures. Once the cataract is removed, an intraocular lens implant is inserted through the same incision. The control console of the phacoemulsification device allows the ophthalmologist to adjust the power and duration of the ultrasonic vibrations, ensuring precise nucleus removal. Phacoemulsification consumables, such as viscoelastic agents and phaco probes, are essential components of the procedure. Health education initiatives are crucial to raising awareness about eye diseases and the importance of timely treatment, including cataract surgery. The minimally invasive approach of phacoemulsification results in faster recovery and improved vision for patients. Anterior lens capsules, lens membranes, and the internal lens are all preserved during the procedure, ensuring the best possible outcome for the patient. The surgical instruments used in phacoemulsification are designed to minimize trauma to the eye and promote quick healing. The procedure is a significant advancement in the field of ophthalmology and has revolutionized the treatment of cataracts and astigmatism.

Market Research Overview

Phacoemulsification is a less invasive surgical technique for cataract removal, widely used in ophthalmology. Surgeons perform this procedure by employing integrated imaging systems and microsurgical tools, including phacoemulsification devices. These systems utilize ultrasonic vibrations to break down clouded lens nuclei into minuscule particles, which are easily removed through smaller incisions. The aging population and increasing prevalence of eye diseases such as uveitis, diabetes, smoking, and astigmatism have fueled the growth of the phacoemulsification devices market. These systems consist of a control console, pump, probe, and phacoemulsification consumables. The phacoemulsification surgical technique involves the use of a phaco probe to apply ultrasound energy to the cataractous lens, while the pump modulates the fluidics to maintain adequate pressure in the eye. The procedure aims for quick recovery, early visual rehabilitation, and smaller incisions, causing less postoperative capsular problems and astigmatism. The ophthalmic surgery market, including clinics and hospitals, heavily relies on phacoemulsification systems to address various eye diseases and restore vision. The natural lens is replaced with an intraocular lens implant during the procedure. The surgeon carefully navigates the procedure, ensuring minimal damage to the corneal endothelium, posterior chamber, and anterior lens capsules. Phacoemulsification devices market is expected to grow significantly due to the increasing demand for minimally invasive approaches in ophthalmic surgery and the rising patient population requiring cataract surgical procedures. However, factors like intraoperative and postoperative capsular problems, viscoelastic agents, and suction may pose challenges to the market. In summary, phacoemulsification devices play a crucial role in the ophthalmic surgical environment, enabling surgeons to perform cataract removal surgery with precision, minimal invasiveness, and quick recovery. The growing eye care market and the increasing prevalence of eye diseases further underscore the importance of these devices in restoring vision and addressing various eye conditions.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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