Intraocular Lens

Rise in adoption of premium intraocular lens is a major factor that drives the growth of the intraocular lens market.

PORTLAND, OR, UNITED STATES, February 3, 2022 /EINPresswire.com/ -- Intraocular lens (IOLs) are implanted in the eyes to replace the natural lens during cataract surgery. The market has witnessed significant growth in the recent past due to development of new types of IOLs.

Intraocular Lens Market Report, published by Allied Market Research, forecasts that the global market was valued at $3,306 million in 2015 and is expected to garner $4,973 million by 2022, registering a CAGR of 5.9% during the forecast period 2016 - 2022. Monofocal intraocular lens segment held more than four-fifths share of the total market in 2015.

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Advent of premium IOLs such as multifocal, toric, and accommodating IOLs and rise in incidence of cataract are the key factors that drive the market growth. In addition, rise in geriatric population and proactive initiatives taken by government to eliminate avoidable blindness are anticipated to fuel the demand for IOLs globally. However, postoperative complications such as refractive errors and unfavorable reimbursement scenario for premium intraocular lens restrict the market growth.

The monofocal intraocular lens segment is expected to dominate the market during the analysis period, owing to its advantages such as low and better reimbursement scenario

Silicone generated the maximum revenue, accounting for more than half of the global intraocular lens market in 2015. However, hydrophobic acrylic segment is estimated to exhibit the highest growth rate of 7.1% during the forecast period.

Ambulatory surgery centers generated the highest revenue, accounting for nearly half of the global market, and is estimated to grow at the highest CAGR of 6.7%.

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Asia-Pacific is projected to grow at the highest CAGR of 7.0% during the forecast period owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (such as India and China) to cater to the unmet medical needs. Technological advancements to develop cost-effective devices offer lucrative opportunities for the market growth.

The Major Key Players Are:

Alcon, Inc. (division of Novartis AG), Johnson & Johnson, Valeant, Carl Zeiss Meditec AG, Rayner, EyeKon Medical, Inc., Lenstec, Inc., HumanOptics AG, STAAR Surgical, and HOYA GROUP. The other players operating in the market include PhysIOL s.a., Calhoun Vision Center, and Oculentis GmBH.

Key Findings of Intraocular Lens Market:

• Premium lens segment is expected to grow at a significant CAGR of 8.6%, owing to various benefits such as improved visual performance.
• Ambulatory surgery center segment is projected to grow at a CAGR of 7.1% during the forecast period.
• In terms of volume, the U.S. accounted for more than one-fourth share of the global intraocular lens market.
• France and Germany collectively contributed for more than one-third of the European intraocular lens market in 2015.
• Japan is the major shareholder, accounting for almost one-third of the Asia-Pacific intraocular lens market in 2015.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Analytics LLP
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