Cataract surgery market to reach 32 million procedures by 2020

Press Release   •   Jul 17, 2013 16:07 BST

The cataract surgery market has been estimated to reach a value in excess of $1.1 billion by the end of 2013. Current forecasts suggest that by 2019 the global cataract surgery market will be worth approximately $2.4 billion.

The global market is poised to achieve continuing growth as the aging population worldwide develops cataracts and need surgery.

All older people develop cataracts, femtosecond lasers for cataract surgery improve the quality of the surgery in a dramatic manner.

According to the World Health Organization (WHO), the number of cataract surgeries performed in 2010 was estimated to be around 20 million and this number is expected to reach 32 million by 2020.

Cataract surgical technology is evolving rapidly. Laser-assisted cataract surgery technology is gaining traction with clinicians. Surgeons are getting trained in the techniques needed to perform surgeries using these new types of equipment. The motivation to learn the new surgical techniques is that the equipment comes with the promise of improved surgical precision.

According to a recent report, 'Femtosecond Lasers for Cataract Surgery: Market Shares, Strategies, and Forecasts, Worldwide, Nanotechnology, 2013 to 2018,' the development and application of femtosecond laser technology towards cataract surgery is expected to gain wider adoption, following its success in refractive, corneal and scleral surgery.

The femtosecond laser is a precise cutting instrument that can be applied to capsulorrhexis (a process to remove lens capsules in cataract surgery) and lens fragmentation.

Femtosecond laser technology for cataract surgery represents a paradigm shift. Surgeons approach cataract surgery with the ability to use automated process that is more reliable and more repeatable than manual techniques previously available. Alcon LenSx femtosecond lasers increase precision for key manual steps of the cataract surgery procedure.

This femtosecond laser cataract surgical system equipment makes it possible to deliver reproducible, predictable, and improved clinical outcomes for cataract surgery. Through image-guided visualization and micron-level laser precision, the surgeon has complete control over the surgery process.

At the beginning of this week Abbott announced that it will be acquiring OptiMedica Corporation, a privately held ophthalmic device company. This will enable the leading global health care company to enter the laser-assisted cataract surgery market.

OptiMedica, a company dedicated to developing performance-driven technologies that improve patient outcomes, will be acquired for $250 million, plus additional payments totalling up to $150 million upon completion of certain milestones.

For more information cataract surgery market, see the latest research: Cataract Surgery Market Research

Follow us on Twitter @CandMResearch issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.