Industry Outlook and Trend Analysis
The Intraocular Lens (IOL) Market was worth USD 3.08 billion in the year of 2014 and is expected to register itself at a compound annual growth rate (CAGR) of 5.78% during the forecast period. Rising occurrence of cataract because of a vast aging statistic section and rising instances of diabetic retinopathy are boosting the intraocular lenses market. Growing instances of visual impairment, surge in healthcare expenditure limit, and developing number of ophthalmologists are likewise supporting the market. Monofocal IOLs are seen as a conventional resolution for retinal adjustment. These lenses have a certain focus for one distance and are most advantageous for patients with cataract in both eyes. Their implementation is additionally high since they fill in as a minimal effort arrangement.
Product Outlook and Trend Analysis
Accommodative IOLs are favored by patients experiencing macular degeneration as they bolster the eye muscles in concentrating on transitional and far off objects. These focal points are broadly used as a part of the treatment of astigmatism and presbyopia. Toric intraocular lenses are particularly valuable for patients experiencing moderate and high astigmatism. These patients experience the ill effects of either hyperopia or astigmatism or some of the time both. Toric IOLs diminish the requirement for incision implants required generally amid astigmatism surgical techniques. The requirement for advancement of efficient and cost-effective intraocular lenses has been driving innovative work exercises in this item fragment.
End User Outlook and Trend Analysis
Hospitals have been announcing maximum cataract surgeries and are foreseen to hold their predominance as an end-use portion in the market for intraocular lenses. Accessibility of facilities that are technologically advanced for retinal scans and diagnosis of corneal issue is pushing its growth. Critical patients are frequently reoffered to super specialty ophthalmic facilities. Ambulatory surgery centers have been picking up prominence in the market for intraocular lenses inferable from miniaturization of surgical devices and accessibility of specialists.
Regional Outlook and Trend Analysis
North America commanded the IOL market in 2016 and is foreseen to hold its lead all through the figure time frame. Rising occurrences of cataract and other ophthalmic issue are pushing the development of the area. Moreover, existence of all around characterized administrative rules and repayment arrangements for cataract medications is boosting generation of revenue in the market. Asia Pacific is anticipated to exhibit the speediest development in terms of income. Expected ascent in diabetic populace, combined with the consideration of eye care in a few social security systems, is probably going to support the market for intraocular lenses in Asia Pacific.
The leading players in the market are Rayner, Alcon, EyeKon, HOYA GROUP, Johnson & Johnson, Carl Zeiss Meditec, Lenstec Inc, STAAR Surgical Company, Valeant Pharmaceuticals and HumanOptics AG. Leading players are focusing on surgical advancements for ophthalmic issues at less cost. Top manufacturers of intraocular lenses are investing in mergers and acquisitions to broaden revenue share and diversify product portfolio.
The Intraocular Lens (IOL) Market is segmented as follows-
By End User:
Eye Research Institutes
Ambulatory Care Centers
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?