Absolute Markets Insights offers latest published report Intraocular Lens Market. Intraocular lenses are minute lenses that are replace the eye’s natural lens after a cataract surgery. It is also used for vision correction surgery. Factors such as rise in prevalence of cataract, as cataract is seen in major geriatric population with some exceptions. Widespread occurrence of cataract surgeries has led to dominant the intraocular lens market On the other hand, post-surgical complications such as refractive defects, for instance light rays entering the eye are not focused on the retina, causing blurred vision, which may decrease the focusing power of the eye, these factors are expected to moderately limit market growth. Increasing technological advancements in this field such as micro-incision cataract surgery (MICS), for instance MICS favors the use of fluidics, reducing the use of phacoemulsification power and are expected to develop opportunities for global intraocular lens market in the coming future.
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The lens is a minute artificial lens used to replace the eye’s natural lens that is removed during the cataract surgery, this lens is called as an intraocular lens (IOL). At the point when the natural lens of the eye is removed, it loses the capacity to focus on any object. Various premium lenses have been approved by U.S. Food and Drug Administration (FDA) for use by cataract surgeons. The Global Intraocular Lens Market was valued at USD 3,450.0 Mn in 2017 and is expected to reach US$ 4,509.0 Mn by 2022.
Monofocal IOLs anticipated to be Dominant Segment during the Forecast Period 2018-2026
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In 2017, the monofocal IOLs section represented the largest share of this market. The largest share of this segment can be attributed to the higher adoption of monofocal IOLs, for instance, Aspheric monofocal IOLs are easy to insert and induce, which represents less or zero spheric defect and also creates very effective optical images for patients. Traditional monofocal intraocular lenses are affordably priced compared to premium lenses and hence their adoption rate among standard cataract patients is higher.
Increasing Population in Need of Vision Correction to Propel the Growth of the Market in North America
North America dominated the Intraocular Lens Market (IOL) market in 2016 due to large number of aging population and availability of reimbursements. Rising rates of the cataract and other ophthalmic issue are impelling the development of the region. However, China and India are expected to be the fastest growing markets in Asia-Pacific region. Moreover, government initiatives to develop and commercialize cost-effective treatment options and collaborative efforts of private and government entities to set up eye care facilities, are driving the growth of the market in Asia Pacific Region.
Intraocular Lens Market is Fragmented with the Presence of Global and Regional Players
Some of the primary participants of Global market are Abbott Medical Optics Inc., Adoptics AG, AkkoLens International BV, Alcon, Inc., Anew Optics, Inc., Bausch & Lomb Inc., Calhoun Vision, Inc., Clarvista Medical, Inc., Elenza, Inc., Eye4Vision Ophthalmics International and EyeKon Medical Inc., amongst others. In 2017, Alcon launched of AcrySof IQ PanOptix Toric presbyopia- and astigmatism-correcting intraocular lens (IOL) for patients with pre-existing corneal astigmatism undergoing cataract surgery. It is a new option for astigmatic patients who seek to address their near, intermediate and distance vision needs with a single lens.
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Intraocular Lens Market – By Type
- Monofocal IOL
- Blue Light Filtering IOL
- Phakic IOL
- Toric IOL
- Multifocal IOL
- Accommodating IOL
- Aspheric IOL
- Others
Market By Material
- PMMA
- Silicone
- Hydrophobic Acrylic
Market By End-User Industry
- Hospitals
- Ambulatory
- Surgery Centers
- Ophthalmology Clinics
- Eye Research Institutes
Intraocular Lens Market – By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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