The latest report on “Intraocular Lens Market (Type – Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular Lens, and Other Types; End User – Hospitals, Ambulatory Surgery Centers, Eye Research Institutes, and Ophthalmology Clinics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global intraocular lens market is projected to grow at a CAGR of 5.5% over the forecast period of 2019-2025.
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An intraocular lens is a tiny, artificial lens that is used to replaces the eye’s natural lens during cataract surgery. A cataract is a medical condition in which the lens of the eye becomes opaque which results in an indistinct vision. The intraocular lens comes with different focusing power the same as prescription eyeglasses or contact lenses. Most of the intraocular lens is made up of silicone or acrylic these lenses are also coated with a special material to protect the eyes from the harmful ultraviolet (UV) rays.
Rapidly increasing the geriatric population and the increasing number of ocular conditions across the globe is one of the major factors driving the growth of the market. According to WHO the proportion of the world’s population over 60 years will nearly double from 12% to 22% between 2015 and 2050 and the number of people aged 60 years and older will outnumber children younger than 5 years.
Increasing Demand Due to Rising Cataract Cases Globally Will Provide Better Opportunities to the Market
Moreover, initiatives are taken by WHO and the International Agency for the Prevention of Blindness (IAPB) such as VISION 2020 The Right to Sight a global initiative for the elimination of avoidable blindness is also boosting the growth of the intraocular lens market. On the other hand, the high cost of the intraocular lens and cataract surgery can hamper the growth of the market. However, increasing demand due to rising cataract cases globally will provide better opportunities to the market.
North America Dominated the Market and Estimated to Lead the Segment in the Forecast Period
Geographically, the intraocular lens market is characterized by North America, Europe, Asia-Pacific, and RoW. North America dominated the market and estimated to lead the segment in the forecast period. Well established healthcare facilities, rise in per capita expenditure on healthcare and the presence of major market players contributing to the growth of the market. Europe is anticipated to stay in the second position in the global market. Advanced healthcare facilities and rising awareness among people about ocular conditions are some factors driving the growth of the market in this region. The market in the Asia-Pacific is expected to grow with a high CAGR, a large patient pool, growing healthcare industries and rising awareness among the people is contributing to the growth of the market.
The report on the global intraocular lens market covers segments such as type, and end-user. On the basis of type, the sub-markets include monofocal intraocular lens, multifocal intraocular lens, toric intraocular lens, and other types. On the basis of end-user, the sub-markets include hospitals, ambulatory surgery centers, eye research institutes, and ophthalmology clinics.
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The report provides profiles of the companies in the market such as Bausch and Lomb, Inc., Alcon, Johnson & Johnson Vision Care, Abbott Medical Optics, HOYA Surgical Optics, Carl Zeiss Meditec AG, Oculentis, Lenstec, Inc., Omni Lens, EyeKon Medical, Inc., and other companies.
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=> Comprehensive analysis of global as well as regional markets of the intraocular lens.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.