Global Phacoemulsification Devices Market 2019-2023 | Glaucoma Surgery Combined with Cataract Surgery Via Phacoemulsification to Boost Demand | Technavio

LONDON--(BUSINESS WIRE)-- The global phacoemulsification devices market is expected to post a CAGR of close to 4% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has released a new market research report on the global phacoemulsification devices market for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global phacoemulsification devices market is the increasing prevalence of cataract. The prevalence of cataract has been increasing across the globe. Four out of 10 people are likely to develop cataract at some stage in their lives. The number of cataract surgeries performed worldwide is estimated to increase from more than 20 million surgeries in 2017 to over 35 million surgeries by 2025. With the increased incidences of cataract cases, advances in cataract surgery techniques, demographic development, and the growing geriatric population, the demand for cataract surgical procedures is expected to surge in the near future. This, in turn, will drive the growth of the market.

This market research report on the global phacoemulsification devices market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the glaucoma surgery combined with cataract surgery via phacoemulsification as one of the key emerging trends in the global phacoemulsification devices market:

Global phacoemulsification devices market: Glaucoma surgery combined with cataract surgery via phacoemulsification

The minimally invasive surgeries such as trabeculectomy and canaloplasty can be combined with the cataract surgery. Concomitant phacoemulsification and glaucoma surgery are together a viable treatment option for patients with both cataract and glaucoma. The minimally invasive glaucoma procedure combined with phacoemulsification results in faster visual rehabilitation and lowers the chances of intraocular pressure (IOP) spikes. The combined procedure avoids risks and reduces the time and expenses involved in the second surgery. This is expected to drive the growth of the global phacoemulsification devices market during the forecast period.

“Apart from the increasing prevalence of cataracts, the global phacoemulsification devices market will be positively impacted by the technological advances in phacoemulsification and the initiatives to increase awareness and access to phacoemulsification in developing countries during the forecast period,” says a senior analyst at Technavio.

Global phacoemulsification devices market: Segmentation analysis

This market research report segments the global phacoemulsification devices market by product (phacoemulsification consumables and phacoemulsification systems) and geographical regions (APAC, EMEA, and the Americas).

The Americas region led the market in 2018 with a market share of close to 50%, followed by EMEA and APAC respectively. Although the APAC region held the smallest market share in 2018, it is expected to register the highest incremental growth during the forecast period.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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