San Francisco, 18 March,
Intraocular Lens (IOL) Market Analysis
By Product (Monofocal, Multifocal, Toric, and Accommodative), By End User, By
Region, And Segment Forecasts, 2018 – 2025
The global intraocular lenses (IOLs) market is expected to reach USD 5.54 billion by 2025,
according to a new report by Grand View Research, Inc. Factors such as rise in
prevalence of cataract, increasing aging population with high risk of
developing ocular conditions, and government initiatives focused on reducing
instances of preventable blindness are expected to drive the market.
Benefits of premium lenses such as enhanced visualization
and patient convenience are boosting their adoption globally, thereby
propelling the IOLs market. However, factors such as poor reimbursement schemes
for premium lenses and high post-treatment costs are challenging market growth.
Rise in diabetic population has a direct and positive
impact on the demand for IOLs as these patients are more susceptible to ocular
conditions such as cataract and glaucoma. Development of novel surgical options
available for cataract treatment, such as advanced micro-incision surgery and
femtosecond lasers are also expected to fuel the market. On the other hand,
post-surgical complications such as refractive defects are expected to
moderately limit market growth.
Adoption of premium IOLs is expected to increase in the
coming years since they offer benefits such as higher precision, enhanced
visualization, and multifocal aperture. The premium lenses segment includes
multifocal, toric, and accommodative IOLs. Multifocal lenses are proving to be
beneficial to patients since they offer multifocal apertures and resolve issues
such as astigmatism and presbyopia. Toric IOLs are used in the treatment of
astigmatism and are estimated to replace traditional incision procedures to
correct vision impairments resulting from astigmatism.
On the other hand, traditional monofocal intraocular
lenses are restricted to a single focal point. They are affordably priced
compared to premium lenses and hence their adoption rate among standard
cataract patients is higher.
North America dominated the global IOLs market. Factors
contributing to its dominance include rising adoption of premium intraocular
lenses and increasing number of patients suffering from cataract in the U.S.
Asia Pacific is expected to exhibit the fastest growth rate in the global
IOLs market. Increasing awareness regarding advanced surgical options and
efforts of government as well as non-government organizations to improve
awareness on and availability of affordable eye care are factors boosting the
regional market.
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Report On Intraocular Lens (IOL) Market Analysis:
Further Key Findings from the Report
Suggest:
·
Multifocal IOL emerged as the largest
product segment as a result of high adoption despite increased prices
·
Hospitals accounted for the largest share
among end-use segments owing to rise in cataract surgeries in hospitals. It is
also expected to grow at the fastest rate
·
North America dominated the market with the
largest revenue share in 2016 owing to improved awareness about advanced vision
impairment treatments and increasing disposable income
·
Asia Pacific is projected to witness rapid
growth during the forecast period owing to speedy adoption of IOLs and advanced
treatments for vision repair
·
Key players including Johnson &
Johnson; Alcon, Inc. (Novartis AG); Valeant Pharmaceuticals International,
Inc.; EyeKon Medical, Inc.; Carl Zeiss Meditec AG; Rayner; Lenstec, Inc.; STAAR
Surgical; HumanOptics AG; and HOYA GROUP dominated the global IOLs market.
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Reports Of This Category By Grand View Research At: https://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the global intraocular
lenses market on the basis of product, end-use, and region:
Product Outlook (Revenue, USD Million, 2014
- 2025)
·
Monofocal IOL
·
Multifocal IOL
·
Toric IOL
·
Accommodative IOL
End-use Outlook (Revenue, USD Million, 2014
- 2025)
·
Hospitals
·
Ophthalmic Clinics
·
Ambulatory Care Centers
·
Eye Research Institutes
Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
U.K.
o
Germany
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
o
South Africa
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Release of this Report:
https://www.grandviewresearch.com/press-release/global-intraocular-lenses-market
https://www.grandviewresearch.com/press-release/global-intraocular-lenses-market
About Grand View
Research
Grand View
Research provides syndicated as well as customized research reports and
consulting services on 46 industries across 25 major countries worldwide. This
U.S.-based market research and consulting company is registered in California
and headquartered in San Francisco. Comprising over 425 analysts and
consultants, the company adds 1200+ market research reports to its extensive
database each year. Supported by an interactive market intelligence platform,
the team at Grand View Research guides Fortune 500 companies and prominent
academic institutes in comprehending the global and regional business
environment and carefully identifying future opportunities.
For more
information: www.grandviewresearch.com/
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