The global intraocular lens market generated $3,306 million in 2015, and is projected to reach $4,973 million by 2022, registering a CAGR of 7.0% during the study period.
are a type of ophthalmic implants, which are used in surgeries pertaining to eyes. IOLs are synthetic lenses implanted inside the eye that substitute the focusing power of a natural lenses, which are surgically removed.
These are used to treat myopia, astigmatism, or cataracts.
In terms of volume, the market is expected to grow at a CAGR of 7.1%. This is attributed to rise in geriatric population, increase in prevalence of cataract, and rise in initiatives taken by government to eliminate avoidable blindness.
Moreover, rise in adoption of premium lens owing to their enhanced visual performance ensures reduced rates of astigmatism, thus supplementing the growth of the market. However, unfavorable reimbursement scenario for premium lens and postoperative complications such as refractive errors are expected to restrain the market growth.
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The intraocular lens market is segmented based on type, material, end user, and geography. On the basis of type, the market is bifurcated into monofocal and premium intraocular lens.
The premium intraocular lens is sub-segmented into toric, multifocal, accommodating, and others (blue light filtering, phakic, and aspheric intraocular lens). By material, the market is categorized into polymethylmethacrylate (PMMA), silicone, and hydrophobic acrylic.
According to end user, it is divided into hospitals, ambulatory surgical centers, ophthalmology clinics, and eye research institutes. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Prominent players adopted product development and product launches & approvals as their key developmental strategies to expand their product portfolio. For instance, in July 2016, Abott Medical Optics (now acquired by Johnson & Johnson) received FDA approval for the use of Tecnis Symfony Intraocular lenses for the treatment of cataract.
The key players profiled in this report are as follows:
- Alcon, Inc. (division of Novartis AG)
- Carl Zeiss Meditec AG
- EyeKon Medical, Inc.
- HOYA GROUP
- HumanOptics AG
- Johnson & Johnson
- Lenstec, Inc.
- STAAR Surgical
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