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Intraocular Lens Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Intraocular Lens Market
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.
Market Overview -
Intraocular lens refers to the medical devices that are implanted inside the eye to replace the eye's natural lens when it is being removed during cataract surgery. An intraocular lens is an artificial replacement for the lens of the eye. ILOs are used for a type of vision correction surgery called refractive lens exchange.
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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.
Groundbreaking Intraocular Lens With Wavefront-Shaping Technology
Technological advancements in intraocular lenses are a key trend gaining popularity in the intraocular lens market. For example, in January 2022, Alcon, a global leader in eye care, announced the commercial launch of the first presbyopia-correcting intraocular lens with wavefront-shaping technology, AcrySof IQ Vivity IOL (Vivity). This new lens is being made available to Indian ophthalmologists for patients undergoing cataract surgery.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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