Phakic Intraocular Lenses (IOL) Market Size, Trends, Growth Status, Share, Report and Forecast 2031

Global Phakic Intraocular Lenses (IOL) Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $$ % over the forecast period 2022-2028. The Phakic Intraocular Lenses (IOL) also known as phakic lenses, are lenses made of plastic or silicone that are implanted into the eye permanently to reduce a person's need for glasses and contact lenses. Phakic lenses are utilized to correct refractive errors, errors in the eye's focusing power. All phakic lenses approved by the FDA are for the correction of nearsightedness (myopia).

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The growing prevalence of myopia and increasing awareness towards Phakic Lens Implant Surgery as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to International Myopia Institute estimates - as of 2021, around 30% of global population is myopic and this number is projected to grow to 50% by 2050.

Major market players included in this report are:

Rayner Surgical Group Limited

Care Group

Ophtec BV/Abbott

Johnson & Johnson

Staar Surgical

USIOL Inc.

Omni Lens Pvt Ltd

Zeiss

Aurolab

HOYA Corporation

Further, there would be around 1 billion high myopes by 2050. Countries such as South Korea, Taiwan, Singapore, China and Japan have a prevalence of myopia of 80 to 90 %. Furthermore, leading market players are working towards strategic initiatives including product approvals and new product launches to capitalize the growing demand for Phakic Intraocular Lenses. For instance, in December 2019, Johnson & Johnson Vision*, received the Food and Drug Administration (FDA) approval for U.S. launch of its new product TECNIS Toric II 1-Piece Intraocular Lens (IOL).

Moreover, in January 2021, Alcon unveiled its new AcrySof IQ Vivity IOL in the United States. This new intraocular lens is intended for patients undergoing cataract surgery. This new product is a first-of-its-kind, non-diffractive extended depth of focus IOL. Also, growing healthcare sector in emerging economies coupled with rising per capita healthcare spending are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a lack of reimbursements for implantation procedures and availability of alternative treatment option impedes the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Phakic Intraocular Lenses (IOL) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing number of product clearance and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of healthcare sector and increasing incidences of myopia in the region, would create lucrative growth prospects for the global Phakic Intraocular Lenses (IOL) Market across the Asia Pacific.

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:

Posterior Chamber Phakic IOL

Anterior Chamber Phakic IOL

By Indication:

Myopia

Hyperopia

Astigmatism

By End User:

Hospitals

Ophthalmology Clinics

Ambulatory Surgical Centers

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By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Table of Content:

Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix

Here is an overview of the different factual statements covered by the study:

The learn about consists of an area that breaks down strategic traits for the primary gamers in present and upcoming R&D, new product launches, collaborations, regional expansion, and mergers & acquisitions.
The lookup focuses on essential market traits such as revenue, product cost, potential and utilization rates, import/export rates, supply/demand figures, market share and CAGR.
The learn about is a series of analyzed records and a variety of barrels of house bought via a mixture of analytical equipment and an inside look up process.
The Market can be divided into 4 areas in accordance to the regional breakdown: North American Markets, European Markets, Asian Markets and Rest of the World.

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