A recent report published by Infinium Global Research on intraocular lens market provides in-depth analysis of segments and sub-segments in the global as well as regional intraocular lens market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional intraocular lens market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global intraocular lens market. According to the report, the global intraocular lens market is projected to grow at a CAGR of 5.5% over the forecast period of 2019-2025.
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 that results in 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 geriatric population and the increasing number of ocular conditions across the globe is one of the major factor 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. 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 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.
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, large patient pool, growing healthcare industries and rising awareness among the people is contributing to the growth of the market.
The report on 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.
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.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of intraocular lens market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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