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The Phacoemulsification Devices Market size is estimated to grow by USD 622.54 million at a CAGR of 5.36% between 2023 and 2028. Market growth depends on several factors, including the increasing prevalence of cataracts, technological advancements in phacoemulsification, and initiatives aimed at raising awareness and improving access to phacoemulsification in developing countries. These elements collectively drive market expansion by addressing critical health needs and leveraging cutting-edge medical technology. The rising prevalence of cataracts underscores the growing demand for effective surgical treatments. Technological advances in phacoemulsification highlight ongoing improvements in surgical precision and patient outcomes. Additionally, initiatives to increase awareness and access to this technology in developing countries reflect efforts to broaden the availability of advanced medical care globally. Thus, the interplay of these factors outlines the anticipated growth of the market, offering opportunities for stakeholders in the healthcare and medical device sectors.
There is an increasing preference for phacoemulsification as the ophthalmic technique for cataract surgery in many developed countries such as the US, Canada, France, and Germany. In addition, many market players and government agencies are focusing on expanding access to cataract surgeries using the mentioned surgical technologies such as phacoemulsification. Furthermore, leading market players such as Novartis established the Phaco Development Program in Asia. Moreover, the programs aim at training and helping ophthalmologists, hospitals, and support systems to meet the demand for public access to cataract care. Hence, such factors are positively impacting the market.
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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