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.
Browse full research report on Intraocular Lenses (IOL) Market: https://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: 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
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
- South Africa
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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