Some of the key players in this market are: Alcon, Inc. (U.S), Carl Zeiss Meditech AG (Germany), Abbott Laboratories (U.S.), Opcon Corporation (Japan), Allergan, Inc. (U.S.), Bausch & Lomb, Inc. (U.S.), NIDEK Co., Ltd. (Japan), STAAR Surgical Company (U.S.), Essilor International S.A. (France) and others.
Global Cataract Surgery Device Market Scenario:
The low awareness among the people related to eye disorders and the high cost associated with cataract surgeries are the main restraining factors of the market along with lack of skilled professionals to carry out the surgeries. The unavailability of health insurances, low purchasing power in underdeveloped and developing economies are the main barriers for the market.
Globally the Cataract Surgery device market is expected to grow at CAGR 5.5% in the forecast period of 2018-2022.
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Global Cataract Surgery Device Competitive Analysis:
The driving forces in the competition of the cataract surgery device markets are the technological advancements and the innovations that are taking place. The rising R&D expenditures of the companies dominate the market. The companies are also acquiring strategies such as mergers, acquisitions, joint ventures to enhance the expertise. Moreover, the increasing support of government is also reducing the barrier for new entrants.
In October 2017 Novartis’ Alcon at the European Society of Cataract and Refractive Surgeons Congress introduced it’s recently CE-marked Clareon intraocular lens with an automatic delivery system. Novartis is hoping for its FDA approval for the Clareon by 2019.
In 2017, Bausch & Lomb received clearance from The U.S. Food and Drug Administration for Stellaris Elite Vision Enhancement System, company’s next generation phacoemulsification cataract platform. The new machine not only offers many cutting-edge technologies but also the opportunity to add upgrades continuously allowing surgeons to expand their capabilities more rapidly.
Earlier in 2018, EISS and the Christoffel-Blindenmission (CBM), along with local partner Fundación Visión launched a training center for ophthalmologists in Paraguay. This center trains ophthalmologists to conduct surgeries with state of the art surgical technique – Phacoemulsification.