Phacoemulsification systems market has influenced great demand in recent years. The growing collaboration between the major manufacturers with hospitals is going to drive overall growth of phacoemulsification systems market. The healthcare market is enhancing 20% a year. Newly manufactured phacoemulsification systems are now producing a demanding market to save patients and lessen expenses by neglecting needless surgeries. The increasing ageing population is substantial to prevalence of diseases, for example, cataract, glaucoma and presbyopia. Universality of phacoemulsification systems is expanding over the globe, fuelled essentially by increasing geriatric population. Nearly 50% of the population in the U.S and Europe have cataract and have transformed into the most generally perceived reason of vision mishap on the planet. As per insights from the U.S. Centers for Disease Control and Prevention, approximately 3 Mn cataract surgeries are performed in U.S. and 20 Mn globally with 99.5% encountering minor or no postoperative difficulties. North America holds a remarkable market share of the overall phacoemulsification systems market globally. It is fundamentally determined by rising demand of new systems coupled with rising no. of eye surgeries in the U.S. and globally.
Geographically, the phacoemulsification systems market is segmented into five regions, namely North America, Latin America, Europe, Asia Pacific and the Middle East and Africa (MEA). Overall phacoemulsification market coupled with cataract surgeries is swiftly growing at a healthy CAGR. The U.S. has a massive market owing to large number of manufacturers, technological progressions with growing ageing population and rising brand awareness about the upcoming systems. North America region holds maximum share of the phacoemulsification market by volume and value followed by European region. A few countries including France, Japan, and Spain have established good nonexclusive policies to buy new systems for performing different eye surgeries. Phacoemulsification systems are expected to witness productive growth during the forecast period. Asian and Latin American countries (mainly China, India, Brazil and Mexico) are having a lucrative market opportunity during the forecast period.
Healthcare funding by government and increasing no. of ophthalmic care hospitals and surgical centers is also going to spur the overall demand for phacoemulsification systems market. Higher growth of phacoemulsification systems market is mainly due to infiltration of top manufacturers in the untapped regions to capture more market. However, manual and sutureless Small-Incision Cataract Surgery (SICS) is favored in developing nations, for e.g., China and India as a result of the lower expenses of the procedure. Moreover, financial constraints, inappropriate technical resources, and lack of full reimbursement for cataract procedures restrict the technology’s widespread adoption. In Asia pacific regions medical device manufacturers are starting to make partnerships and acquisitions, refining the effectiveness of the healthcare infrastructure as well as healthcare professionals in various regions too.
Global Phacoemulsification Systems Market Key Players are: Alcon Inc. (Novartis), Foamix Ltd., Abbott Medical Optics Inc., LIGHTMED, NIDEK CO., LTD., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated., OPTIKON 2000 SpA and Others.
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