The Ocular Surgery Market involves surgical procedures and treatments performed on the eye, including cataract surgery, refractive surgery and glaucoma surgery. Cataract surgery is one of the safest and most common surgical procedures performed and involves replacing the natural lens with an artificial lens. Refractive surgery aims to correct vision issues such as myopia, hyperopia and astigmatism through procedures like LASIK and PRK. Glaucoma surgery helps treat glaucoma, a leading cause of blindness, by reducing intraocular pressure through drainage devices and implants.
The global ocular surgery market is estimated to be valued at US$ 10,444.4 million in 2022 and is expected to exhibit a CAGR of 5.1% over the forecast period (2025-2032).
Key Takeaways
Key players operating in the Ocular Surgery market are Johnson & Johnson Services, Inc., Vision Care, Alcon. Johnson & Johnson Services, Inc. specializes in cataract procedures and refractive surgeries. Vision Care offers premium intraocular lenses and surgical equipment. Alcon is a leader in ophthalmic pharmaceuticals and devices.
The key growing Ocular Surgery Market Demandis due to the rising prevalence of eye diseases like cataracts and glaucoma globally. According to the World Health Organization, cataracts are the leading cause of blindness worldwide, affecting over 20 million people. Also, glaucoma is the second leading cause of blindness, affecting over 4.5 million people.
Technological advancements are enhancing ocular surgeries. Femtosecond lasers are assisting refractive procedures to reshape the cornea with increased accuracy. Newer biodegradable drug delivery systems help treat posterior eye diseases through sustained drug release. Improved lenses, implants and devices have led to better post-surgical outcomes.
Market Trends
Customization of refractive surgeries using 3D bioprinting and wavefront guided technologies allows for individualized correction on a molecular level. Popularity of premium IOLs that provide improved vision quality and independence from glasses are on the rise.
Automation and digitization of eye measurement and surgical planning is streamlining ocular procedures. SMILE is becoming more common as a bladeless alternative to LASIK due to its minimal wound healing time.
Market Opportunities
Growth opportunities exist in developing economies due to aging populations and limited access to treatment. Emerging markets in Asia Pacific and Latin America have high incidences of untreated ocular diseases.
Outpatient and ambulatory surgery centers are economical alternatives to hospitals for routine surgeries. Wearable contact lenses that automatically track and treat eye conditions could revolutionize ocular care delivery.
Impact of COVID-19 on Ocular Surgery Market Growth
The COVID-19 pandemic has substantially impacted the ocular surgery market. During the initial months of the outbreak, elective procedures were stopped or postponed to reduce strain on healthcare resources and minimize risks of infection. This led to a significant decline in number of surgeries performed during 2020. However, emergency procedures continued to be carried out. With relaxation of restrictions since mid-2020 and resumption of non-essential treatments, the market has witnessed steady recovery. Still, pre-Covid numbers have not been achieved fully as concerns around virus transmission persist.
Teleophthalmology saw increased adoption amid lockdowns and restrictions, helping provide remote consultations and post-operative care. This trend is expected to continue supporting market growth even in the post-pandemic period. At the same time, stricter hygiene protocols and safety measures during on-site treatments have driven up operational costs. This remains a key challenge for market players. The demand for advanced technology enabled tools enabling minimal invasive procedures is on the rise to improve safety and outcomes. Meanwhile, growing cataract cases due to increased screen time during remote working and online education are projected to boost surgical volumes going ahead.
Geographically, North America dominated the market in terms of value pre-Covid attributed to rising prevalence of ocular disorders, improving reimbursement scenario and technological advancements. However, Asia Pacific region is estimated to witness fastest growth through the forecast period. This can be accredited to growing medical tourism, increasing healthcare expenditure, large patient pool and government support for strengthening healthcare infrastructure. Rising incomes, lifestyle changes and growing awareness regarding eye care in populous nations like China and India will specifically drive the momentum in Asia Pacific post pandemic.
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