Future Market Insights launched a report on the cataract surgery market.
Here are five key trends from the report:
1. Cataracts are the most common reason for vision impairment worldwide and the National Institute of Eye reports the risk of having a cataract increases every 10 years beginning around the time a person turns 40 years old.
2. Around half of Americans report having cataracts by the time they're 75 years old; that number rises to 70 percent by the time they're 80 years old.
3. The cataract surgery devices market is expected to grow at a steady compound annual growth rate through 2025.
4. Factors driving the cataract surgery market are an increased aging population and higher prevalence of ocular disorders. The technological advancements in healthcare around the world will provide opportunity in emerging markets.
5. Roadblocks in the market include the lack of healthcare insurance and general lack of awareness about eye disorders among people around the world.
6. Key players in the cataract surgery device market include Carl Zeiss Meditech AG, Bausch & Lomb, Alcon, NIDEK and Essilor.