Monofocal IOL Market Scope
The eye is a natural lens that helps focus light. The natural lens focuses images onto the back of the eye (called the retina) so a person can see clearly. This is just like a camera lens that focuses images onto film for a clear picture. As people older, the natural lens can become less clear, even cloudy. This cloudiness is called a cataract. Just as a dirty camera lens can spoil a picture, a cataract can inhibit light from focusing clearly inside the eye. The most common treatment for cataracts today is to remove the clouded natural lens. It is then replaced with an artificial lens. This artificial lens is called an intraocular lens. The most common kind of lens used with cataract surgery is called a monofocal IOL. It has one focusing distance. It is set to focus for up close, medium-range or distance vision. Some people have them set for clear distance vision. Then they wear eyeglasses for close work or reading. In recent years, monofocal lenses have been designed with aspheric surfaces. These state-of-the-art FDA approved aspheric or aberration-free IOLs greatly improve image quality by eliminating glare and haloes, enhancing contrast, and improving night vision.
The market study is being classified by Type (Spheric and Aspheric), by Application (Hospitals and Clinics) and major geographies with country level break-up.
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Monofocal IOL market throughout the predicted period.
Abbott Medical Optics (United States), Novartis AG (Switzerland), Hoya Surgical Optics (Singapore), Carl Zeiss Meditec AG (Germany), Bausch & Lomb (United States), Staar Surgical Company (United States), Johnson & Johnson Vision (United States), Alcon (Switzerland) and I-MED Pharma Inc. (Canada) are some of the key players profiled in the study.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Monofocal IOL market by Type, Application and Region.
On the basis of geography, the market of Monofocal IOL 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).
Market Leaders and their expansionary development strategies
On 31 Oct 2019, Johnson & Johnson Vision, a global leader in eye health, announced the launch of TECNIS Eyhance intraocular lens (IOL), a superior monofocal IOL implant for patients who have undergone cataract-removal surgery procedures. This IOL is designed to extend the depth of focus from distance to intermediate vision, to help meet varied modern lifestyle requirements of patients post-cataract surgery.
On 18 March 2019, Alcon, the global leader in eye care and a division of Novartis, announced that it has acquired PowerVision, Inc., a privately-held, the United States-based medical device Development Company focused on creating fluid-based intraocular lens implants. This acquisition is expected to strengthen the company’s position in IOL’s offerings.
Market Trend
- Technological Advancements in Monofocal IOLs
Market Drivers
- Rising Prevalence of Eye Diseases
- Rising Geriatric Population Worldwide
- Government and Awareness Initiatives to Control and Treat Blindness
Opportunities
- Untapped Potential of Emerging Markets
Restraints
- Lack of Proper Coverage or Co-Payment Policies for Premium IOLs
- The Availability of Multifocal IOL’s
Challenges
- Scarcity of Ophthalmologists
Key Target Audience
Monofocal IOL Manufacturers, Monofocal IOL Raw Material Suppliers, Monofocal IOL Traders/Distributors, Monofocal IOL Importer/Exporter, Regulatory & Government Bodies, Research & Consulting Firms, End Users and Others
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