Albany NY, United States: According to the report, the global intraocular lens market was valued at US$ 3.9 Bn in 2020 and is projected to expand at a CAGR of 4.9% from 2021 to 2028.
Albany NY, United States: According to the report, the global intraocular lens market was valued at US$ 3.9 Bn in 2020 and is projected to expand at a CAGR of 4.9% from 2021 to 2028. Intraocular lens is a lens implanted in the eye for treatment of cataract, an eye disease characterized by clouding of the natural lens, which is replaced by the new intraocular lenses.
Intraocular lenses are available in different forms depending upon physical properties and functionality. Monofocal intraocular lens are the most preferred IOLs used in the treatment of cataract surgeries. However, the use of monofocal IOLs is usually associated with wearing glasses for reading or for other activities as these lenses only treat cataract and do not treat astigmatism.
The new premium IOLs available currently in the market such as multifocal IOLs are used to treat vision correction and refractive errors and provide clear vision for near, intermediate, and distance vision as well.
Request a PDF Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2170
Increase in Incidence of Ophthalmic & Ocular Conditions and Surge in Geriatric Population to Drive Market
Incidence and prevalence of ophthalmic and ocular conditions across the world are increasing at higher rates, affecting millions of people. According to the American Association of Ophthalmology, the prevalence of cataract, along with other eye-related disorders such as glaucoma, blindness, diabetic retinopathy is on the rise, with glaucoma affecting around 2.7 million people in the U.S. every year. In 2020, about 80 million people have glaucoma worldwide, and the number is expected to increase to over 111 million by 2040.
The geriatric population is more prone to ophthalmic & ocular diseases. The increase in geriatric population is another major factor driving the global intraocular lens market. The rise in the geriatric population and number of diabetic patients has led to a high number of age-related cataract and other eye disorders such as macular degeneration and glaucoma.
Request Brochure of Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=2170
Monofocal IOL Segment to Lead Global 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. The monofocal IOL segment is projected to account for major share of the global market during the forecast period. Increase in incidence of cataract, better reimbursement policies for the use of monofocal IOLs, and reduced post-operative complications are attributed to the segment’s market dominance. Moreover, growth of the segment can be attributed to advantages such as better image quality and higher patient acceptance with monovision requirements.
Hospitals Segment Held Significant Market Share
In terms of end-user, the global intraocular lens market has been divided into hospitals, ophthalmology clinics, ambulatory surgery centers, and eye research institutes. The hospitals segment led the global intraocular lens market in terms of revenue in 2020 and the trend is projected to continue during the forecast period. Increase in adoption of advanced products and technologies, ease of access to hospitals especially in the emerging countries, better provision of healthcare facilities, and reimbursement by hospitals boost the growth of the hospitals segment.
Get COVID-19 Analysis Intraocular Lens Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=2170
The ophthalmology clinics segment held the second largest share of the market in 2020. Ophthalmologists across the world are setting up independent ophthalmology clinics to offer personalized care to patients, which promotes the growth of the segment.
North America to Dominate Global Intraocular Lens Market
North America dominated the global intraocular lens market in 2020, accounting for 35% share. Well-established healthcare infrastructure and presence of key players with focus on research & development are key factors anticipated to boost the expansion of the market in the region. Moreover, increase in geriatric population, surge in incidence of cataract & refractive surgeries, and high adoption of advanced products and techniques are expected to fuel the growth of the market in North America.
Asia Pacific is a rapidly expanding market for intraocular lens. The market in the region is likely to expand at a high CAGR from 2021 to 2028 due to rise in demand for intraocular lens.
Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2170
Competition Landscape
The global intraocular lens market is fragmented due to the presence of a large number of leading players. Key players operating in the market include Abbott Medical Optics, Alcon (Novartis AG), Carl Zeiss Meditec AG, Bausch & Lomb, Inc., Hoya Surgical Optics, Calhoun Vision, Inc., and Staar Surgical Company.
Browse more Reports by Transparency Market Research:
Endometrial Ablation Market: The growing prevalence of cervical cancer, the advent of next-generation ablation methods and techniques, and the rise in the number of hospitals as well as surgical centers implementing ablation treatments are the factors likely to drive expansion of the global endometrial ablation market.
Wound Care Market: Rising investments for research and development activities and the launch of new, technologically advanced products to cure different types of wounds are expected to be the key growth drivers for the overall wound care market.
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
Contact
Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453