Intraocular Lens Global Growth By Leading Players 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.

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.

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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.

Market Dynamics

The increasing government initiatives and awareness campaign to spread the awareness among cataract patients and the increasing prevalence of diabetes may shift the patient towards the cataract surgery, in turn boosting growth of the intraocular lens market during the forecast period. For instance, according to the International Diabetes Foundation (IDF) 2017 statistics, the number of people with diabetes aged between 20 to 79 years are increasing, globally. Among which, Africa (156%) is accounted to register the highest diabetic population, followed by Middle East (110%), South East Asia (84%), Latin and Central America(62%), North America (35%), Europe (16%) and Western Pacific (15%). Moreover, cataract is major cause of blindness, which is projected to fuel growth of the intraocular lens market over the forecast period. For instance, according to National Federation of the Blind, 2014 data findings, an estimated around 10 million people in the U.S. are blind or visually impaired. According to European Blind Union, in 2016, over 30 million people are partially sighted or blind in Europe and an average of 1 in 30 Europeans experience sight loss. According to World Health Organization (WHO) 2010 fact sheet, cataract accounted for around 50% of blindness in China. Furthermore, according to National Center for Biotechnology Information (NCBI), 2010 data findings, an estimated 11.2 million people above age 40 years suffered from glaucoma in India.

Competitive Analysis

Major players operating in market include 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.

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Detailed Segmentation:

Global Intraocular Lens Market, By Flexibility:
Folded
Rigid

Global Intraocular Lens Market, By Product Type:
Premium Intraocular Lens
Multifocal Intraocular lens
Accommodating Intraocular lens
Toric Intraocular lens
Monofocal Intraocular Lens
Preloaded Intraocular Lens
Others

Global Intraocular Lens Market, By Material:
Polymethylmethacrylate (PMMA)
Silicone
Hydrophillic
Hydrophobic Acrylic

Global Intraocular Lens Market, By End User:
Hospitals
Ambulatory Surgery Centers
Eye Research Institutes
Ophthalmology Clinics

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