Intraocular Lens Market Market Projected to 1.79 Bn and Expand CAGR of 5.8% by 2025

U.S. Intraocular Lens Market was valued at 1.15 Billion in 2017 and is projected to reach to 1.79 Billion by 2025 at a CAGR of 5.8% during the forecast period 2018–2025.

Intraocular lens is a lens implanted in the eye for the treatment of myopia or cataract. The occurrence and prevalence of ocular and ophthalmic conditions across the world are growing at alarming levels, affecting millions of people round the globe. The American Association of Ophthalmology (AAO), stated that cataract is the major causes of blindness and visual impairment, while age related eye disorders and conditions are becoming major problem in the developed countries such as U.S. These increasing incidences of ocular and ophthalmic conditions is likely to become a major factor enhancing the development in the intraocular lens market.

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Intraocular Lens Market Dynamics
The rising incidences of eye disorders and the increasing cases of conditions such as cataracts are some of the key factors that are anticipated to encourage the growth of the U.S. intraocular lens market. Additionally, the increasing cases of obesity and diabetes and the age-related macular deterioration are anticipated to further accelerate the growth of the U.S. intraocular lens market in the coming years.

According to the U.S. and the United Nations Census Bureau statistics, the global elderly population rose from 562 million in 2012 to 617 million in 2015 and is anticipated to reach a staggering 1.4 billion by the year 2030. Hence the number of vision correction processes being performed such as cataract surgeries, LASIK, and other driven by these rising number of age associated eye disorders is increasing. Hence, these increasing number of elderly population and a rising number of procedures for vision correction are responsible for the continuous growth of the U.S. intraocular lens market.

Key Players & Competitive Intelligence
Some of the prominent players in the U.S. Intraocular Lens (IOL) Market are Alcon (U.S.), Abbott Medical Optics (U.S.), Bausch & Lomb, Inc. (U.S.), Hoya Group (Japan), Carl Zeiss Meditec AG (Germany), Johnson & Johnson (U.S.), Rayner (U.K), STAAR Surgical (U.S.), and Lenstec, Inc. (U.S.)

Segmentation:
The U.S. Intraocular Lens market is segmented into type as monofocal, multifocal, toric, accommodative and others.

Based on material type the Intraocular Lens market is segmented as hydrophobic acrylic, silicone, PMMA and others.

Similarly, based on end users the intraocular lens market is segmented as hospitals, ophthalmic clinic, eye research institutes and ambulatory surgery centres.

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Market Segmentation:

U.S. Intraocular Lens Market by Type
Monofocal, Multifocal, Toric, Accomodative, Others

U.S. Intraocular Lens Market by Material
Hydrophobic Acrylic, Silicone, PMMA, Others

U.S. Intraocular Lens Market by End User
Hospitals, Opthalmic Clinic, Eye Research Institutes, Ambulatory Surgery Centers

Regional Analysis

The U.S. Intraocular Lens Market; the prevalence and incidence of ocular and ophthalmic conditions around the world are growing at alarming levels and are affecting millions of people. National Eye Institute stated that around, 7.7 million Americans are currently suffering from diabetic retinopathy, which is estimated to reach up to 11.3 million by 2030. Furthermore, around 24 million Americans are presently suffering from cataract, and the figure is likely to reach 38.7 million by 2030. Growing diabetic population in the country has a direct positive impact on the demand for these IOLs as the patients are more prone to such ocular conditions including glaucoma and cataract. Development of other novel surgical options available for the treatment, including femtosecond lasers and advanced micro-incision surgery are further expected to fuel the market growth.

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