Intraocular Lens Market Opportunities and Future Scope
Intraocular Lens Market Size And Forecast
The global Intraocular Lens market was valued at US$ 3.8 billion in 2018 and is projected to reach US$ 6.9 Billion by 2027, growing At a CAGR of 7.5% from 2020 to 2027.
According to new informative report by Coherent Market Insights an analytical data of Intraocular Lens market has recently added to its massive database. The research report covers various business verticals. It was added based on various dynamic aspects of the business. This statistical report has been prepared using primary and secondary research methods. Well explained Porter’s five analysis and SWOT analysis have been used to examine the strength, weaknesses, threats and opportunities.
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What are Intraocular Lens?
Intraocular lens is a lens implanted in the eye as part of a treatment for cataracts or myopia. If someone has a natural lens in the eye it is known as phakic and if someone has an artificial lens in the eye it is known as pseudophakic or false lens. Intraocular Lens (IOL) implantation enables restoration of normal vision and significantly reduces problems associated with cataract spectacles and contact lenses. Surgical techniques for extracting the human lens continued over time by means of incision size. In later days, invention of implantable, tolerable and technically feasible IOL was revolutionized in cataract surgery. In case of IOL material, Rigid or Polymethylmethacrylate (PMMA) was preferred intraocular lens material for a long time due to its lightness, clarity and stability, which were un-foldable lenses. Advancement in IOL material, PMMA are eventually replaced by silicone lens, hydrophilic and hydrophobic acrylic lenses.
New product launches by market players, growing advancement in cataract surgery techniques coupled with rising awareness programs for cataract patients are the major factors driving growth of global intraocular lens market over the forecast period. Recent advances in the cataract surgery have increased the safety and efficacy of surgical procedure due to which huge number of people are opting for cataract treatment. For instance, recent technological advancement in ophthalmology such as introduction of the femtosecond laser, an infrared laser with the wavelength of 1053 nm into the cataract surgery has increased the safety and predictability of the cataract procedure.
Currently various femtosecond laser systems are available commercially which are used in corneal refractive surgery. Femtosecond laser technology offers potential benefits into the field of cataract surgery. Femtosecond laser (FSL) able to perform three important steps in cataract surgery such as corneal incisions, capsulotomy, and lens fragmentation. Moreover, due to the increasing numbers of cataract and refractive surgery and demand for new technology in clinical practices, key players in the market are engaged in offering mobile surgery platforms. For instance, in February 2013, Sightpath Medical launched MoFe, or Mobile Femtosecond, a mobile femtosecond laser cataract surgery suite.
Furthermore, innovation in intraocular lens material such as introduction of novel intraocular lens with full range of continuous high-quality vision, trifocal intraocular lens for patients with astigmatism undergoing cataract surgery, an Extended Depth of Focus (EDOF) intraocular lens, and among others; have enabled surgery to be done through a small incision, which also led to quick recovery of the patient. Invention of ophthalmic viscosurgical devices has reduced the risk of endothelial decompensation and corneal edema. It has transformed the cataract surgery, providing a great opportunity to intraocular lens market.
Detailed Segmentation
By Flexibility:
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- Folded
- Rigid
By Product Type:
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- Premium Intraocular Lens
- Multifocal Intraocular lens
- Accommodating Intraocular lens
- Toric Intraocular lens
- Monofocal Intraocular Lens
- Preloaded Intraocular Lens
- Others
- Premium Intraocular Lens
By Material:
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- Polymethylmethacrylate (PMMA)
- Silicone
- Hydrophillic
- Hydrophobic Acrylic
By End User:
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- Hospitals
- Ambulatory Surgery Centers
- Eye Research Institutes
- Ophthalmology Clinics
Intraocular Lens Market by Geography Analysis::
North America (The US, Canada, and Mexico)
Europe (the UK, Germany, France, and Rest of Europe)
Asia Pacific (China, India, and Rest of Asia Pacific)
Latin America (Brazil and Rest of Latin America)
Middle East & Africa (Saudi Arabia, the UAE, South Africa, and Rest of Middle East & Africa)
Key Players In Intraocular Lens Market
The “Global Intraocular Lens Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are STAAR Surgical Company, HOYA Corporation, Lenstec, Inc., Ophtec BV, Johnson & Johnson, Alcon, Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, Rayner Intraocular Lenses Limited, and HumanOptics AG.
Reasons to Purchase this Report
Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Provision of market value (USD Billion) data for each segment and sub-segment
Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis
Provides insight into the market through Value Chain
Market dynamics scenario, along with growth opportunities of the market in the years to come
6-month post sales analyst support
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