This report provides exclusive insights into the COVID-19 impact on the Intraocular Lens Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Intraocular Lens Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Intraocular Lens Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
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 the 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 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. 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.
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 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.