The
global IntraocularLens Market size 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 Details of Report @
https://www.grandviewresearch.com/industry-analysis/intraocular-lenses-industry
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 IOL 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.
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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