Geriatric population is at high risk of suffering from myopia or cataract. Thus, with rapid increase in geriatric population the global market for intraocular lens is also expected to grow. In addition, technological advancements in intraocular lens market also further accentuate the market growth. Moreover, rising adoption of premium intraocular lens such as multifocal IOLs, toric IOLs and accommodating IOLs are further accentuating the global market for intraocular lenses during the forecast period. However, high cost associated with surgical procedures for the placement of intraocular lens inside the eye might restrict the global market of intraocular lens. In addition, post operative refractive error might be a crucial concern that can pose serious threat for the demand of intraocular lens market.
North America dominates the global intraocular lens market owing to large number of cataract surgeries performed every year. For instance, Society of Cataract and Refractive Surgery (ASCRS) estimated that around 3 million cataract surgeries are performed in the U.S. every year. In addition, government initiatives and favorable reimbursement scenario also drives the growth of intraocular lens market in North American region. Moreover, technological advancements in intraocular lens surgical procedure also further accentuates the global market for intraocular lens during the study period. Europe represents the second position in the global market of intraocular lens due to the presence of large geriatric population in European region. In addition, initiatives taken by government for the benefit of people to perform cataract surgery also propel the growth of intraocular lens market in this region. Asia-Pacific and RoW represents the third and fourth position in the global market for intraocular lens due to lack of proper healthcare facilities (refractive surgery) in few remote areas of Asian (India, Bangladesh, Pakistan) and African countries (Egypt, Libya, Sudan). Moreover, high cost of performing cataract surgery is a barrier for intraocular lens market growth in the developing and underdeveloped countries in the world especially in Asian and African continent.
Various key players contributing the global market share of intraocular lens market includes Abbott Medical Optics, Carl Zeiss, Bausch & Lomb, Eyekon Medical, Lenstec, Humanoptics, Novartis AG, Morcher GmbH, Ophtec BV, Oculentis BV, Ophtec USA, PowerVision, Physio SA, Rayner Intraocular Lenses, Staar Surgical Company, Santen Pharmaceutical and Wavelight AG among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.