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Intraocular Lens Market worth $7.06 billion by 2030, growing at a CAGR of 7.44% - Exclusive Report by 360iResearch
Intraocular Lens Market | 360iResearch
The Global Intraocular Lens Market to grow from USD 4.27 billion in 2023 to USD 7.06 billion by 2030, at a CAGR of 7.44%.
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An intraocular lens (IOL) is embedded inside the eye to replace its natural lens when it becomes cloudy or damaged, typically due to cataracts. Intraocular lenses have a wide range of applications in the field of ophthalmology, with the primary end-use being corrective surgery for cataract patients. With a higher prevalence of age-related eye diseases, rising awareness, and accessibility to eye care services as more people become aware of the importance of regular eye check-ups and access to advanced treatment options improve, demand for IOLs is expected to rise. However, high intraocular lens costs and risks associated with IOL implantation surgery, including infection, inflammation, and lens dislocation, hamper its market demand. Innovations in lens material technology and design have improved the functionality and performance of intraocular lenses, making them the preferred option for vision correction in many cases. Patients from developed countries increasingly seek affordable healthcare options abroad, particularly in countries with a reputation for high-quality eye care services, which can further boost the demand for IOLs.
The Americas has a significant landscape in the intraocular lens owing to factors such as the increasing prevalence of eye-related diseases, technological advancements in IOLs for better visual outcomes post-surgery, and high consumer expenditure on minimally invasive procedures. The rising cases of diabetes also contribute to a higher demand for IOLs. In the European Union, factors such as the growing geriatric population, rising incidences of eye diseases, availability of advanced healthcare infrastructure, and various government initiatives are driving growth in the intraocular lens market. The Middle East and Africa region is noticing a rise in demand for intraocular lenses due to increased awareness about eye health care services among the growing population. Furthermore, governments across this region are investing in healthcare infrastructure development projects incorporating state-of-the-art ophthalmic facilities, resulting in greater accessibility to vision correction surgeries. APAC region constitutes a significant market for intraocular lenses due to the increasing prevalence of eye disorders, expansion of healthcare infrastructure, and government support for research initiatives.
Market Segmentation & Coverage:
This research report categorizes the Intraocular Lens Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Phakic IOLs, Premium IOLs, and Traditional/Monofocal IOLs. The Premium IOLs is further studied across Accommodating IOLs, Extended Depth-Of-Focus (EDoF) IOLs, and Multifocal IOLs. The Traditional/Monofocal IOLs is further studied across Aspheric Monofocal IOLs and Spheric Monofocal IOLs. The Premium IOLs is projected to witness significant market share during forecast period.
Based on Material, market is studied across Foldable IOLs and PMMA IOLs. The Foldable IOLs is further studied across Hydrophilic Acrylic IOLs and Hydrophobic Acrylic IOLs. The PMMA IOLs is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Ambulatory Surgery Centers, Eye Research Institutes, Hospitals & Clinics, and Ophthalmology Clinics. The Ambulatory Surgery Centers is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 39.00% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Intraocular Lens Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Intraocular Lens Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Intraocular Lens Market, highlighting leading vendors and their innovative profiles. These include Alcon Vision LLC, Aurolab, Bausch Health Companies Inc., Benq Materials Corporation, Care Group Inc., Carl Zeiss AG, Essilor International SAS, EyeKon Medical, Inc., Himalaya Optical, Hoya Corporation, HumanOptics AG, Johnson and Johnson Surgical Vision, Inc., Lenstec Inc., Menicon Co., Ltd., Novartis AG, Omni Lens Pvt. Ltd., Ophtec B.V., PhysIOL S.A., Rayner Intraocular Lenses Limited, SAV IOL S.A., Shanghai Haohai Biological Technology Co. Ltd., and STAAR Surgical Company.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Intraocular Lens Market, by Type
7. Intraocular Lens Market, by Material
8. Intraocular Lens Market, by End-User
9. Americas Intraocular Lens Market
10. Asia-Pacific Intraocular Lens Market
11. Europe, Middle East & Africa Intraocular Lens Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Intraocular Lens Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Intraocular Lens Market?
3. What is the competitive strategic window for opportunities in the Intraocular Lens Market?
4. What are the technology trends and regulatory frameworks in the Intraocular Lens Market?
5. What is the market share of the leading vendors in the Intraocular Lens Market?
6. What modes and strategic moves are considered suitable for entering the Intraocular Lens Market?
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