Global Phacoemulsification Devices Market - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024

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Global Phacoemulsification Devices Market - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024

 

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.

 

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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:

·         Devices

·         Accessories

 

Based on the distribution channel, the market is segmented into the following:

·         Hospitals

·         Ophthalmic Clinics

·         Others

 

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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.

 

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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

Ø  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.

 

 

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