Global Phacoemulsification Devices Market: By Product Type (Devices, Accessories) By Technology (Manually Operated Inhalers, Digitally Operated Inhalers), By Distribution Channel (Hospitals, Ophthalmic Clinics, Others), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Global phacoemulsification devices market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2018 to 2024.
Market Outline: Phacoemulsification Devices Market
Phacoemulsification is a cataract surgical procedure in which the internal lens of the eye is emulsified. The procedure is carried out by performing incisions in the eye to allow the surgical instruments. Two small incisions are made in the eye where the clear front covering of the eye (Cornea) meets the sclera. A circular opening is made in the front part of lens capsule. A surgical instrument (phaco probe) is inserted into the eye. The lens is broken and is removed, the surgeon uses suction in order to remove the pieces of the lens.
Market Dynamics: Phacoemulsification Devices Market
Increase in prevalence of eye diseases and growing geriatric population with refractive errors are anticipated to drive the phacoemulsification devices market. The increased awareness about advanced surgical procedures, adoption of the modern surgical treatments, support from the government and the non-profitable organizations are expected to drive the growth of phacoemulsification devices market. The improving healthcare infrastructure, adoption of new treatment methods are expected to offers for market players. However, the high cost of the device, poor reimbursement policies and stringent government regulations are expected to hamper the growth of phacoemulsification devices market.
Market Scope: Phacoemulsification Devices Market
Phacoemulsification devices market is segmented based on the product type and distribution channel.
Based on the product type, the market is segmented into the following:
Based on the distribution channel, the market is segmented into the following:
- Ophthalmic Clinics
Regional Analysis: Phacoemulsification Devices Market
Geographically, global phacoemulsification devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America phacoemulsification devices market is expected to dominate the global market, followed by Europe and Asia Pacific. North America phacoemulsification devices market is expanding at healthy growth rate due to increase in prevalence of eye diseases. The affordability of the treatment, increased public and private healthcare insurance is expected to enhance the growth of the market. The Europe phacoemulsification devices market is projected to grow at modest rates owing to economic slowdown. The Asia Pacific phacoemulsification devices market is expected to offer enormous opportunities due increasing healthcare infrastructure in emerging countries such as India, China and South Korea.
Competition Assessment: Phacoemulsification Devices Market
Some of the players in the global phacoemulsification devices market include:
- Johnson & Johnson Vision (U.S)
- Zeiss (Germany)
- NIDEK (Japan)
- Alcon (U.S)
- Baush + Lomb (U.S)
- Optikon (Italy)
- MEDA Co. LTD (China)
- Topcon (Japan)
Notable Market Developments: Phacoemulsification Devices Market
- In April 2017, Bausch + Lomb, a leading global eye health company, announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the Stellaris Elite vision enhancement system, the company’s next generation phacoemulsification platform
Key Features of the Report:
- The report covers exhaustive regional information, that includes North America (the USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentian, Venezula, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa)
- The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market