Intraocular Lens Market Outlook 2028
- The global intraocular lens market was valued at US$ 3.9 Bn in 2020
- It is estimated to expand at a CAGR of 4.9% from 2021 to 2028
- The global intraocular lens market is expected to reach the value of US$ 5.6 Bn by the end of 2028
Report Overview: https://www.transparencymarketresearch.com/intraocular-lenses-market.html
Increasing Awareness of Eye Heath and Intraocular Lens Accelerate the Market
Rise in the number of cataract surgeries around the world is expected to generate ample business prospects in the global intraocular lens market in the upcoming years. Intraocular lens are implanted in an eye during the treatment of myopia or cataract. The increasing demand for multifocal IOL, monofocal IOL, accommodative IOL, and toric IOL in hospitals, ophthalmology clinics, eye research institutes, and ambulatory surgery centers is driving the global intraocular lens market. Government as well as several non-government organizations are taking efforts to spread awareness on symptoms of cataract and other health issues pertaining to eyes. The rise in diabetic population who are more likely to opt for cataract surgeries is driving the expansion of the global intraocular lens market. Moreover, increasing eye issues in aging population and loss or poor vision also lead to rise in demand for intraocular lens.
In addition, these organizations are also providing information on available treatment options on these health issues. Market players in the global intraocular lens market are consistently improving the quality of products they offer. They are increasing investments in research & development to fulfill the rising demand from consumers across the globe. Several enterprises are strengthening their product offerings by indulging in new product launch activities.
Request a Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2170
Increasing Efforts by Key Market Players to Gain Revenue Benefits
Key market leaders are strengthening their market position by increasing their participation in activities such as mergers, partnerships, collaborations, and regional expansions. They are also focusing on acquisition of their smaller competitors. In order to stay ahead in the competition, many market players are expanding their production capabilities. Such efforts are likely to bolster the global intraocular lens market in the near future.
Companies in the intraocular lens market are estimated to gain substantial sales opportunities in North America on the back of several factors such as rise in awareness about eye-related diseases among regional population, existence of a robust healthcare industry, and presence of several active players in the region. New product developments in the intraocular lens market, along with technological advances in surgical instruments and techniques in cataract surgeries are driving the global market.
Impact of COVID-19 on Global Intraocular Lens Market
The global intraocular lens market has been negatively affected by the rapid spread of coronavirus cross the globe. The emergence of COVID-19 pandemic has compelled companies operating in the intraocular lens market to restructure their strategies in order to sustain their businesses in such critical situations. This is the reason why these companies are following all regional government guidelines while carrying out regular business activities. During the pandemic, the market has seen a decline in demand due to the lockdowns and vulnerabilities associated with the elderly. The cohort of the patient population has postponed the surgery. In addition, economic considerations has also hit the consumer demand. Market players are recovering from the losses caused due to the global pandemic. Manufacturers of intraocular lens find steady revenue streams in the eye care industry. A wide range of this lens have undergone design advances to suit patients’ needs.
Enquiry Before Buying: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2170
Potential Revenue Opportunities for Market Players in North America
North America shows lucrative growth opportunities in the intraocular lens market due to rising awareness among general people and increasing expenditure on healthcare. Technological advancement in healthcare is supporting the growth of the market. Rising investments in R&D activities in intraocular lenses are driving the expansion of the market. Market contributors from North America are focusing on adopting various strategies to strengthen their market presence. The significant presence of market players operating in the global intraocular lens market is contributing to the growth of the market.
Market players in the North America intraocular lens market are focusing on various strategies to increase their market share. The North America market is expected to be driven by increasing adoption of modern technologies in the regional healthcare industry and improving disposable income of consumers.
Intraocular Lens Market: Introduction
- Intraocular lenses (IOLs) are medical devices implanted inside the eye to replace the eye's natural lens when it is removed during the cataract surgery. IOLs are also used for a type of vision correction surgery called refractive lens exchange.
- Various types of IOL are available in the market. Depending upon functionality, these are segmented into standard IOLs and premium IOLs.
Request Report Methodology: https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=2170
Intraocular Lens Market: Key Drivers
- Increase in incidences of ophthalmic and ocular conditions is projected to drive the global intraocular lens market during the forecast period. According to the American Academy of Ophthalmology (AAO), around 24 million people in the U.S. above the age of 40 suffer from cataract each year. The percentage of elderly people (60 yrs. and above) suffering from cataract is estimated to be around 65%.
- Rise in adoption of premium IOLs is another major factor boosting the growth of the global intraocular lens market. Surge in awareness about premium IOLs, favorable recommendations from health care providers, and better acceptance among patients across the world are expected to drive the global intraocular lens market during the forecast period.
Market Segmentation: Intraocular Lens Market
- In terms of product type, the global intraocular lens market has been classified into monofocal IOL, multifocal IOL, toric IOL, accommodative IOL, and others
- Based on end-user, the global intraocular lens market has been divided into hospitals, ophthalmology clinics, ambulatory surgery centers, and eye research institutes
- Each of the segments has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The intraocular lens market report provides current and expected revenue (US$ Mn) for each of these segments from 2021 to 2028, considering 2020 as the base year. The compound annual growth rate (CAGR %) has been provided for each segment and market from 2021 to 2028 along with market size estimations.
Request For Custom Research: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=2170
Regional Overview: Global Intraocular Lens Market
- North America dominated the global intraocular lens market in 2020, accounting for 35% share. The U.S. dominated the market in North America, owing to factors such as increase in incidence of cataract, surge in the geriatric population, rise in demand for better healthcare facilities, and adoption of improved products & technologies.
- Asia Pacific is anticipated to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by local players, especially in China and India, are expected to propel the intraocular lens market in the region.
Major Players
- The intraocular lens market report concludes with the company profiles section, which includes key information about major players in the global intraocular lens market
- Leading players analyzed in the report include
- Abbott Medical Optics
- Alcon (Novartis AG)
- Carl Zeiss Meditec AG
- Bausch & Lomb, Inc.
- Hoya Surgical Optics
- Calhoun Vision, Inc.
- Staar Surgical Company
More Trending Reports by Transparency Market Research:
Dental Membrane and Bone Graft Substitutes Market: https://www.transparencymarketresearch.com/dental-membrane-bone-graft-substitutes-market.html
Respiratory Monitoring Devices Market: https://www.transparencymarketresearch.com/respiratory-monitoring-devices.html
Robotic Rehabilitation and Assistive Technologies Market: https://www.transparencymarketresearch.com/robotic-rehabilitation-assistive-technologies-market.html
Thoracic Drainage Devices Market: https://www.transparencymarketresearch.com/thoracic-drainage-devices-market.html
Cell Separation Technologies Market: https://www.transparencymarketresearch.com/cell-separation-technologies.html
Negative-pressure Wound Therapy (NPWT) Devices Market: https://www.transparencymarketresearch.com/negative-pressure-wound-therapy.html
Personal Mobility Devices Market: https://www.transparencymarketresearch.com/personal-mobility-devices-market.html
About Us
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
