Intraocular Lens Market Estimated to Reach Value of US$ 5.6 Billion by 2028: TMR Study

The global 𝐢𝐧𝐭𝐫𝐚𝐨𝐜𝐮𝐥𝐚𝐫 𝐥𝐞𝐧𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, valued at US$ 3.9 billion in 2020, is projected to grow at a CAGR of 4.9% from 2021 to 2028, reaching US$ 5.6 billion by 2028. Analysts emphasize the need for companies to expedite product development to seize revenue opportunities and gain a competitive edge in the healthcare sector.

Increasing cataract surgeries worldwide are driving market growth, supported by advancements in healthcare technology and the proliferation of eye clinics and surgical centers. However, the market faces challenges such as high costs and stringent regulatory approval processes, potentially hindering its expansion in the forecast period.

𝐆𝐫𝐚𝐛 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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Intraocular lenses (IOLs) serve as medical implants within the eye, replacing the natural lens removed during cataract surgery. Additionally, they are utilized in refractive lens exchange procedures for vision correction. The market offers diverse types of IOLs, categorized based on functionality into standard IOLs and premium IOLs.

𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐀𝐰𝐚𝐫𝐞𝐧𝐞𝐬𝐬 𝐨𝐟 𝐄𝐲𝐞 𝐇𝐞𝐚𝐭𝐡 𝐚𝐧𝐝 𝐈𝐧𝐭𝐫𝐚𝐨𝐜𝐮𝐥𝐚𝐫 𝐋𝐞𝐧𝐬 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐞 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭

The global intraocular lens market is set to witness substantial growth in the coming years, propelled by the increasing number of cataract surgeries worldwide. These lenses, implanted during myopia or cataract treatment, including multifocal, monofocal, accommodative, and toric types, are experiencing rising demand across hospitals, ophthalmology clinics, research institutes, and ambulatory surgery centers.

Government and non-government organizations are actively raising awareness about cataract symptoms and other eye-related health issues, particularly targeting the diabetic population, who often require cataract surgery. Additionally, the aging population's growing prevalence of eye problems and vision impairment is further boosting demand for intraocular lenses. Market players are responding to this demand by enhancing product quality through research and development investments, as well as launching new products to strengthen their offerings.

𝐌𝐚𝐣𝐨𝐫 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Abbott Medical Optics,Alcon (Novartis AG),Carl Zeiss Meditec AG,Bausch & Lomb, Inc.,Hoya Surgical Optics,Calhoun Vision, Inc.,Staar Surgical Company

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

By Product Type

Monofocal IOL
Multifocal IOL
Toric IOL
Accommodative IOL
Others

By End-user

Hospitals
Ophthalmology Clinics
Ambulatory Surgery Centers
Eye Research Institutes

𝐈𝐧𝐭𝐫𝐚𝐨𝐜𝐮𝐥𝐚𝐫 𝐋𝐞𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

The anticipated increase in occurrences of ophthalmic and ocular conditions is poised to propel the global intraocular lens market in the coming years. As per the American Academy of Ophthalmology (AAO), approximately 24 million individuals aged 40 and above in the United States grapple with cataracts annually, with a staggering 65% of individuals aged 60 and above affected by this condition.

Furthermore, the burgeoning adoption of premium intraocular lenses (IOLs) stands as another significant factor augmenting the expansion of the global intraocular lens market. This surge is driven by heightened awareness surrounding premium IOLs, positive endorsements from healthcare practitioners, and increasing patient receptivity worldwide. These factors collectively contribute to the projected growth trajectory of the global intraocular lens market throughout the forecast period.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐭𝐫𝐚𝐨𝐜𝐮𝐥𝐚𝐫 𝐋𝐞𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭

North America dominated the global intraocular lens market in 2020, accounting for 35% share. The U.S. dominated the market in North America, owing to factors such as increase in incidence of cataract, surge in the geriatric population, rise in demand for better healthcare facilities, and adoption of improved products & technologies.

Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the intraocular lens market in the region.

𝐆𝐞𝐭 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐈𝐧𝐬𝐭𝐚𝐧𝐭𝐥𝐲:
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𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Shift Towards Premium IOLs: Growing preference for premium IOLs offering improved visual outcomes and reduced dependency on glasses.

Minimally Invasive Procedures: Increasing adoption of micro-incision cataract surgery (MICS) and femtosecond laser-assisted cataract surgery (FLACS) for enhanced surgical precision and faster recovery.

Personalized Medicine: Customized IOL solutions tailored to individual patient needs are gaining traction.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Market Size and Growth Rate Analysis
Competitive Landscape Assessment
Regulatory Framework Analysis
Technological Trends and Innovations
Regional Market Dynamics

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐓𝐡𝐢𝐧 𝐖𝐚𝐟𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/11/17/2558203/0/en/Thin-Wafer-Market-Size-to-Surpass-US-7-Billion-by-2031-Transparency-Market-Research-Inc.html

𝐅𝐮𝐞𝐥 𝐂𝐞𝐥𝐥 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2022/11/17/2558358/0/en/Fuel-Cell-Market-to-Reach-Value-of-US-107-03-Bn-by-2031-TMR-Study.html

 

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