Intraocular Lens Market Poised to Grow at a CAGR of 5% by 2024
Infinium Global Research has added a new report on Intraocular
Lens Market. The report presents analysis of global as well as regional
markets of intraocular lens market over the period of 2016 to 2024.
Intraocular lens is a lens inserted inside the eye to replace
the eye's natural lens during cataract surgery. The major advantage of
intraocular lenses are, they offer good and clear vision after cataract
surgery. As the intraocular lenses have become well developed and are
considered to be safe, they are accepted as the standard of modern cataract
surgery. Additionally, Aspheric IOLs, Toric IOLs, Accommodating IOLs and
Multifocal IOLs are the various types of the intraocular lens which is choose
according to specific visual needs.
According to the World Health Organization (WHO), nearly 7
million to 12 million cataract operations were performed in the year 2000 and
20 million cataract operation were performed in 2010. By the year 2020,
cataract surgeries are anticipated to reach 32 million annually. The major
factor such as rising geriatric population ocular conditions, incidence of
cataracts are some of the key factors, driving growth in this market. Additionally,
initiative taken by the government to remove avoidable blindness growing among
aged population across the world are expected to fuel the growth of intraocular
lens market. Moreover, the technological innovation in the intraocular lens is
also responsible for enhancing the growth of this market. Going further growing
number of vision correction procedure such as LASIK, cataract surgeries and
others is responsible for significant growth in the intraocular market.
However, the lack of proper coverage for premium IOLs and high cost related
with surgical procedure are hindering the growth of intraocular lens market. In
near future, accessibility of advance technologies such as micro-incision
cataract surgery and femtosecond lasers may provide huge growth opportunities
for the key players in the intraocular lens market.
North America is holding a leading region among other
geographies in the intraocular lens market and is expected to dominate
throughout the forecast period. Improved reimbursements policies, rising the
incidence of cataracts and government entities to set up eye care facilities
have contributed for the growth in this market in North America region. Asia
pacific accounted for the fastest growing in terms of revenue over upcoming
year. The developing countries such as India and china are anticipated to be fastest
growing economies in Asia pacific region. Owing to huge patient pool and growing
the healthcare industry.
The leading companies in the market are Abbott Medical Optics,
Carl Zeiss Meditec AG, Bausch & Lomb, Inc., Alcon (Novartis AG), Calhoun
Vision, Inc.,Staar Surgical Company ,Hoya Surgical Optics, Rayner Intraocular
Lenses Limited, Oculentis GmbH. Some Key players investing in merger and
acquisition for the expand product portfolio. Moreover, the growth matrix presented by Infinium Global
Research identifies the key investment markets in the near future, this will
not only help the companies to understand the competitive position in the
global intraocular lens market but also make strategic decisions to capture the
most lucrative markets in the near future.
The market size is presented in terms of value for the historic
year 2016 and estimated for forecast period of 2018-2024.
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The recent report identified that North America dominated the
global intraocular lens market over the last couple of years, while emerging
markets of Asia-Pacific and Latin America are anticipated to contribute
significantly to the growth in the intraocular lens market worldwide.
The report segments the global intraocular lens market on the
basis of Product, Material and End-user .
Global Intraocular Lens Market by Product
Global Intraocular Lens Market by Material
Polymethyl Methacrylate (PMMA)
Global Intraocular Lens Market by End-user
Ambulatory Surgery Centers
Companies Profiled in the Report
Abbott Medical Optics
Carl Zeiss Meditec AG
Bausch & Lomb, Inc.
Alcon (Novartis AG)
Calhoun Vision, Inc.
Staar Surgical Company
Hoya Surgical Optics
Rayner Intraocular Lenses Limited
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