Intraocular Lens Market Size, Share, Growth And Forecast Report 2024 To 2033

The Business Research Company offers in-depth market insights through Intraocular Lens Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The intraocular lens market size has grown rapidly in recent years. It will grow from $4.93 billion in 2023 to $5.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to patient expectations and satisfaction, rise in outpatient cataract surgery, introduction of phacoemulsification, evolution of surgical techniques, transition to foldable materials.

The intraocular lens market size is expected to see strong growth in the next few years. It will grow to $7.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to focus on emerging markets, growing aging population, expanding cataract surgery rates, demand for premium IOLs, shift towards outpatient procedures. Major trends in the forecast period include rise in cataract surgeries, shift towards minimally invasive surgery, demand for enhanced visual outcomes, regulatory changes and approvals, evolving surgical techniques.

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Market Segmentation:
The intraocular lens market covered in this report is segmented -

1) By Type: Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric intraocular lens, Accommodating Intraocular Lens
2) By Material: Polymethylmethacrylate (PMMA), Silicone, Hydrophobic Acrylic
3) By End User: Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics, Eye Research Institutes

Major Driver - Intraocular Lens Market Surges As Prevalence Of Eye Diseases Including Glaucoma Spurs Demand

The rising prevalence of eye diseases is contributing to the growth of the intraocular lens market. Eye diseases such as macular degeneration, glaucoma, and cataracts lead to vision problems. An intraocular lens is an artificial lens related to the eye. It replaces the eye's natural lens that has been removed during cataract surgery. For instance, in October 2022, according to the Association of British Dispensing Opticians, a UK-based professional association for opticians, over two million individuals are in danger of visual loss owing to glaucoma; an estimated 1,390,000 people have ocular hypertension, and another 708,000 have glaucoma. The rising prevalence of eye diseases will drive the intraocular lens market.

Competitive Landscape:
Major companies operating in the intraocular lens market report are Abbott Medical Optics Inc., Alcon Inc., Valeant Pharmaceuticals, Bausch + Lomb, Johnson & Johnson Vision Care Inc., Carl Zeiss Meditec AG, Nidek CO. Ltd, Staar Surgical Company, Hoya Corporation, Rayner Intraocular Lenses Limited, SIFI S.p.A, Ophtec, RxSight, Aurolab, Hanita Lenses, Oculentis, Lenstec, EyeKon Medical Inc., Atia Vision, Nayam Innovations, SAV-IOL SA, Biotech Healthcare Group, Physiol, Care Group, LensGen Inc., Omega Ophthalmics, Ocumetics Technology Corporation, WaveTec Vision, Calhoun Vision Inc., HOYA Surgical Optics, Bausch Health Companies Inc.

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Top Trend - Innovative Leap In Vision Enhancement With Small-Aperture Intraocular Lens For Cataract Therapy

Major companies operating in the intraocular lens market are developing innovative products such as small-aperture intraocular lenses to enhance product offerings and gain a competitive advantage. Small-aperture intraocular lenses (IOLs) are artificial lenses inserted in the eye during a cataract operation or refractive lens exchange. Small-aperture intraocular lenses differ from standard monofocal intraocular lenses because they feature a unique design with a tiny center aperture. For instance, in July 2022, AcuFocus Inc., a US-based medical device company stated that the FDA had authorized its IC-8 Apthera IOL for cataract therapy. The Apthera IOL is the very first and only non-toric extended depth of focus IOL authorized for 82% of cataract patients with corneal astigmatism of up to 1.5 D. The Apthera IOL, with its incorporated FilterRing component, is the first lens design to alleviate the symptoms of presbyopia by simply blocking out peripherally defocused and aberrated sunlight that affects vision quality.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Intraocular Lens Market Characteristics
3. Intraocular Lens Market Trends And Strategies
4. Intraocular Lens Market - Macro Economic Scenario
5. Intraocular Lens Market Size And Growth
…..
27. Intraocular Lens Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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