The intraocular lens (IOL) market is projected to reach to USD 4.56 billion by 2022 from estimated USD 3.50 billion in 2017
NEW YORK, Fev. 5, 2018 /PRNewswire/ -- The intraocular lens (IOL) market is projected to reach to USD 4.56 billion by 2022 from estimated USD 3.50 billion in 2017. The growing geriatric population and associated eye disorders, rising prevalence of eye diseases & diabetes across the globe, technological advancements in intraocular lenses, and increasing government initiatives to control and treat blindness caused by cataract are factors driving this market. However, the lack of awareness and low accessibility to eye care in low-income economies may hinder the growth of this market.
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The premium IOLs segment is expected to grow at the highest CAGR during the forecast period
On the basis of type, the intraocular lens market is segmented into traditional/monofocal IOLs, premium IOLs, and phakic IOLs. The premium IOLs segment is expected to witness the highest growth during the forecast period. The growth of this segment is attributed to the wide range of benefits associated with their use, such as enhanced visual performance and reduced astigmatism
The aspheric monofocal IOLs segment is projected to witness the highest growth during the forecast period
Based on the type, the traditional/monofocal IOLs segment is further classified into aspheric monofocal IOLs and spheric monofocal IOLs. The aspheric monofocal IOLs segment is expected to grow at the highest CAGR during the forecast period.
Growth in this market segment can largely be attributed to the higher utilization of these lenses by cataract surgeons and patients owing to their added advantages over spheric monofocal IOLs. Aspheric monofocal IOLs are easy to insert, induces limited or zero spheric aberration, and create very effective contrast sensitive optical image for patients
The foldable IOLs segment is expected to grow at the highest CAGR during the forecast period
On the basis of type of material, the market is segmented into foldable IOLs and PMMA IOLs. During the forecast period, the foldable IOLs segment is expected to grow at the highest CAGR. The high growth of this segment can be attributed to the advantages offered by foldable IOLs over the PMMA IOLs, such as suitability for manufacturing three-piece IOLs and IOL haptics, high biocompatibility, high light transmissibility, good center placement, resistance to tilting inside the eye, and UV-absorbing property
Asia Pacific to witness the highest growth during the forecast period
Asia Pacific is expected to witness the highest growth during the forecast period (2017 to 2022). The region's large geriatric population, large cataract patient population, improving healthcare infrastructure, and rising demand for advanced intraocular lenses and related technologies are driving the growth of this market.
Break of primary participants was as mentioned below:
-- By Company Type - Tier 1-45%, Tier 2-40% and Tier 3-15%
-- By Designation - C Level-41%, Director Level-30%, Others-29%
-- By Region - North America-35%, Europe-30%, Asia Pacific-25%, Rest of World-10%
Some of the major market players in the intraocular lens market are Alcon, Inc. (US) (Novartis AG (Switzerland)), Bausch + Lomb (US) (Valeant Pharmaceuticals International (Canada)), Johnson & Johnson Vision Care, Inc. (US), Carl Zeiss Meditec (Germany), HOYA Corporation (Japan), STAAR Surgical Company (US), Rayner Intraocular Lenses Limited (UK), PhysIOL (Belgium), Ophtec BV (Netherlands), Swiss Advanced Vision (SAV IOL) (Switzerland), Oculentis GmbH (Germany), NIDEK CO., LTD. (Japan), Aurolab (India), Omni Lens Pvt Ltd. (India), Care Group (India), Hanita Lenses R.C.A Ltd. (Israel), and Fred Hollows Intraocular Laboratory (Eritrea).
Research Coverage:
The report analyzes the intraocular lens market and aims at estimating the market size and future growth potential of this market based on various segments such as type, material, end user, and region. The report also includes a volume data analysis for various types of IOLs across the globe and a competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
-- Market Penetration: Comprehensive information on product portfolios offered by the top players in the global intraocular lens market. The report analyzes the global intraocular lens market by type, material, end user, and region.
-- Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global intraocular lens market.
-- Market Development: Comprehensive information on the lucrative emerging markets by type, material, end user, and region.
-- Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global intraocular lens market.
-- Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of leading players in the global intraocular lens market.
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