The Global Intraocular Lens Market was valued at USD 3,450.0 Mn in 2020 and is expected to reach US$ 4,509.0 Mn by 2030. Some of the primary players of Global Intraocular Lens Market are Abbott Medical Optics Inc., Adoptics AG, AkkoLens International BV, Alcon, Inc., Anew Optics, Inc., Bausch & Lomb Inc., Calhoun Vision, Inc., Clarvista Medical, Inc., Elenza, Inc., Eye4Vision Ophthalmics International and EyeKon Medical Inc. amongst others.
An intraocular lens is an implantation that is made inside the eye of the patient, which is an artificial lens. The lens is a minute artificial lens used to replace the eye’s natural lens that is removed during the cataract surgery, this lens is called as an intraocular lens (IOL). At the point when the natural lens of the eye is removed, it loses the capacity to focus on any object. Various premium lenses have been approved by U.S. Food and Drug Administration (FDA) for use by cataract surgeons.
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U.S. Intraocular Lens Market Size, By Application
Due to increase in occurrences and frequency of cataracts and other age-related eye disorders, there is an increasing demand for the lenses. According to the World Health Organization, cataract is a major global concern, which is the leading cause of visual impairment. Increase in prevalence of cataract has increased the demand for intraocular lens globally. According to the Vision Council, around 76.2% grown-ups in the U.S. underwent vision correction surgery in 2015, and roughly 22.1% of the grown-ups expressed that they need vision correction.
Government initiatives and awareness programs to eliminate avoidable blindness are together expected to propel the demand for intraocular lens market in the Asia-Pacific region. For instance, in 2011, Lions Clubs International Foundation (LCIF) partnered with Peoples Republic of China with an aim to start a new phase of their campaign in China known as SightFirst China Action (SFCA), formed in 1997, which focuses at preventing blindness. This foundation contributed more than $30.8 million for more than 5 million cataract surgeries and upgradation of 300 eye care institutions. Moreover, the Chinese government subsidized more than $200 million to support their campaign.
Intraocular Lens Market, by End-Use Industry
On the basis of the end-use industry, the intraocular lens market is segmented into hospitals, ambulatory surgery centers, ophthalmology clinics, and eye research institutes. Hospitals and ophthalmology clinics segment dominated the overall IOL market in 2017. The growth of the segments can be attributed to the increasing occurrences of eye disorders globally together with the large patient pool treated at hospitals and ophthalmology clinics. On the other hand, the rising number of hospitals and ophthalmology clinics in emerging countries such as, India, Brazil, Africa, Russia, UAE, amongst others are also the factors driving the growth of these segments.
Intraocular Lens Market, by Region
North America dominated the IOL market in 2016 due to large number of aging population and availability of reimbursements. Rising rates of the cataract and other ophthalmic issue are impelling the development of the region. Asia is expected to show high growth rates in the next few years in the global intraocular lens market. China and India are expected to be the fastest growing markets in Asia-Pacific region. Some of the key driving factors for intraocular lens market in emerging countries are large no. of patients and rising government funding.
Patients living with diabetes are more liable to cataract, macular degeneration, and other ophthalmic issues, thus raising the demand for different types of IOLs. As indicated by the International Diabetes Federation, the Western Pacific district represented the largest diabetic population of 77 million. On the other hand, the East Asian region represented 59 million of the diabetic population. India represented 50.8 million and China 43.2 million of the diabetic population.
Intraocular Lens Market research added by Absolute Markets Insights, offers a comprehensive analysis of the growth trends prevailing in the global business arena. This report also provides definitive data regarding the market, size, marketing aspects, and revenue forecast of the industry. In addition, the study explicitly highlights the competitive status of major players in the projection schedule while focusing on their portfolio and regional expansion efforts.
The Global Intraocular Lens Market Analysis to 2030 is a specialized and in-depth study of the Technology, Media, and Telecommunications industry, with an emphasis especially on the analysis of global market trends. The report aims to provide an overview of the enterprise content delivery networks and enterprise streaming software market with detailed market segmentation by component, type of deployment, industry vertical, and geography. The global market for enterprise content delivery networks and enterprise streaming software is expected to witness high growth during the forecast period.
Financial performance:
The overall turnover of the companies / segments for the years 2021, 2020 and 2019 is provided in the sub-heading “Financial performance” (listed companies) with the analysis and explanation of the increase or decrease. decrease in these due to factors such as mergers and acquisitions, profit or loss of any strategic business unit (SBU) and others.
Strategic initiatives:
Information relating to new product launches, strategic collaboration, mergers and acquisitions, regulatory approval and other company developments in the market is covered in the strategic initiatives section.
Intraocular Lens Market: Regional analysis includes:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (United States, Mexico and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC countries and Egypt.)
This research provides detailed information on the major factors influencing the Intraocular Lens market growth on a global and regional level (drivers, restraints, opportunities and challenges), forecast of market size, in terms of value, market share by region and segment; regional market positions; growth opportunities by segment and by country, strengths and weaknesses, brand portfolio; Marketing and distribution strategies; challenges and threats of current competition and prospects; Key Company Profiles, SWOTs and Growth Strategies.
The Intraocular Lens market research covers a comprehensive analysis of the following data:
• Historical and future growth of the Global Intraocular Lens market.
• Segmentation of enterprise content delivery network and enterprise streaming software market to highlight the growth prospects and trends impacting these segments.
• Change the consumption behavior of customers in different regions.
• Regional analysis on the basis of market share, growth prospects and key countries.
• Agreements, product launches, acquisitions and R&D projects of various players in the enterprise content delivery networks and enterprise streaming software market.
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