[3/7/2019]: The Intraocular Lens (IOL) Market is estimated to grow at a significant CAGR over the
forecast period as the scope and its applications are rising enormously across
the globe. Intraocular Lens (IOL) is a medical device used to replace the eye’s
natural lens after cataract or myopia surgery. It is also used during vision
correction surgery called refractive lens exchange. Acrylic and silicone
material is used in the formation of IOLs. The commonly used IOL is
pseudophakic IOL and phakic IOL.
The
factors that are playing a major role in the growth of Intraocular Lens (IOL)
Market are rising occurrence of eye diseases & diabetes among the populace,
governments’ initiatives of funding treatment of blindness, increasing use of
enhanced technology for the treatment, and rise in geriatric population, and
age-related eye disorders across the globe. However, lack of awareness
regarding eye disorders and low accessibility to eye care in developing
countries may restrain overall market growth in the years to come. Intraocular
Lens (IOL) Market is segmented based on type, material, end-user, and region.
Phakic
IOL, Traditional/ Monofocal IOL, Premium IOL, and the other types could be
explored in Intraocular Lens (IOL) in the forecast period. Traditional/
Monofocal IOLs sector comprise spheric and aspheric monofocal IOL. Whereas,
Premium IOLs comprise an extended depth of focus IOLs, multifocal IOLs, and
accommodating IOL. The Monofocal IOLs sector accounted for the significant
market share of Intraocular Lens (IOL) and is estimated to continue its dominance
in the years to come.
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The
market may be categorized based on end-users like ambulatory surgical centers,
ophthalmic clinics, hospitals, eye research institutes, and others could be
explored in Intraocular Lens (IOL) in the forecast period. The hospital and
ophthalmic clinic sector accounted for the majority market share of Intraocular
Lens (IOL). In addition, ambulatory surgical centers sector is estimated to
grow at fastest pace in the years to come.
Globally,
North America accounted for the significant market share of Intraocular Lens
(IOL) and is estimated to lead the overall market in the years to come. The
reason behind the overall market growth could be developed healthcare
infrastructure, growing geriatric population suffering from blindness
associated with cataract, increasing healthcare expenditure, and growing
disposable income.
The key players of Intraocular Lens
(IOL) Market are STAAR Surgical Company, Alcon Inc., Lenstec, Inc., Bausch
& Lomb Incorporated, Johnson and Johnson Vision Care Inc., Carl Zeiss Meditec
AG., HumanOptics AG, EyeKon Medical Inc., and HOYA Corporation. These players are concentrating on inorganic growth
to sustain themselves amidst fierce competition.
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