About Intraocular Lens
An intraocular lens is defined as the lens which is implanted in the eye as part of a treatment for various eye diseases such as cataracts, myopia, among others. It is mainly implanted for the duration of cataract surgery after the cloudy eye's natural lens has been removed. Geriatric population and associated eye disorders, rising prevalence of eye diseases & diabetes in the overall population are the major drivers which are propelling the growth of the market. The market for the intraocular lens is anticipated to register a CAGR of over 6.2% during the forecast period
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global intraocular lenses market can witness an upsurge in the forecast period. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Intraocular Lens market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Alcon, Inc. (United States), Novartis AG (Switzerland), Bausch + Lomb (United States), Valeant Pharmaceuticals International (Canada), Johnson & Johnson Vision Care, Inc. (United States), Carl Zeiss Meditec (Germany), HOYA Corporation (Japan), STAAR Surgical Company (United States), Rayner Intraocular Lenses Limited (United Kingdom) and PhysIOL (Belgium) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ophtec BV (Netherlands), Swiss Advanced Vision (Switzerland), Oculentis GmbH (Germany), NIDEK CO., LTD. (Japan), Aurolab (India), Omni Lens Pvt Ltd. (India), Care Group (India), Hanita Lenses R.C.A Ltd. (Israel) and Fred Hollows Intraocular Laboratory (Eritrea).
Segmentation Overview
AMA Research has segmented the market of Global Intraocular Lens market by Type (Traditional/Monofocal, Premium and Phakic), Application (Hydrophilic and Hydrophobic) and Region.
On the basis of geography, the market of Intraocular Lens has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material, the sub-segment i.e. PMMA will boost the Intraocular Lens market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospital and Clinic will boost the Intraocular Lens market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement in Intraocular Lens
Market Growth Drivers:
Rising Prevalence of Eye Diseases Worldwide, Government and Awareness Initiatives to Control and Treat Blindness and Technological Advancements in IOLs
Challenges:
Issue related to Scarcity of Ophthalmologists
Restraints:
Lack of Proper Coverage or Co-Payment Policies for Premium IOLs
Opportunities:
Rising Demand from Emerging Economics such as China and India
Market Leaders and their expansionary development strategies
In January 2024, Rayner, a global leader in products for cataract surgery, headquartered in Worthing, UK, has acquired Swiss-based This AG, the inventor, developer and manufacturer of Sophi phaco emulsification machines. This acquisition marks a new chapter for the company as it branches out to include phaco technology as part of its extensive product portfolio.
In February 2024, Johnson & Johnson Medtech Launched New Presbyopia-correcting Intraocular Lens Tecnis Puresee in Emea.The TECNIS PureSee IOL features a proprietary, purely refractive design that delivers uninterrupted, high-quality, vision with high best-in-category contrast and low-light performance, comparable to a monofocal IOL.
Key Target Audience
Intraocular Lenses (IOLs) Manufactures, Intraocular Lenses (IOLs) Suppliers and Distributors, Healthcare Service Providers (Including Hospitals, Eye Clinics, and Public and Private Eye Care Centers), Government Associations, Health Insurance Provider Companies, Market Research and Consulting Firms and Venture Capitalists and Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.