San Francisco, 8 March 2019: The Report 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.
Access Research Report of Intraocular Lenses (IOL) Market @ www.grandviewresearch.com/industry-analysis/intraocular-lenses-industry
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.
Browse more reports of this category by Grand View
Research at: 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
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access
Press Release of Intraocular Lenses (IOL)
Market@ www.grandviewresearch.com/press-release/global-intraocular-lenses-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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