Dublin, March 12, 2024 (GLOBE NEWSWIRE) -- The "Global Intraocular Lens Market byType (Monofocal, Premium, Phakic), Material (Hydrophobic, Hydrophilic, Silicone) Application (Cataract, Presbyopia, Corneal Disorder), End User, Unmet Need, Buying Criteria, Reimbursement - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Intraocular Lens (IOL) market is witnessing substantial growth, with a forecast valuation of USD 6.0 billion by 2029, up from USD 4.2 billion in 2023. This surge is anticipated to progress at a Compound Annual Growth Rate (CAGR) of 6.3% during the analysis period. The market is experiencing significant expansion due to technological enhancements in IOLs, an increasing aged population across the globe, and rising awareness about minimally invasive surgeries.
Surge in Cataract Surgery Applications Catalyzes Market Expansion
Within the application segment, the cataract surgery category is emerging as the most rapidly growing segment in the Intraocular Lens market. The push towards broader insurance coverage, coupled with the growing elderly demographic, promises a sustained increase in demand for IOLs and related surgical procedures.
Emerging Trends and Unmet Needs in the Intraocular Lens Sector
- The prevalence of cataracts and other age-related ocular conditions is driving the need for advanced solutions.
- A focus on personalized IOLs tailored to patient preferences is reshaping service delivery, particularly in specialized ophthalmology clinics.
- Emerging market trends showcase an increasing inclination towards premium IOL options and patient-centric care.
Ophthalmology Clinics: A Predominant Force in the IOL Space
Second only to hospitals, ophthalmology clinics stand as the largest end-user segment within the IOL market. Here, experts deliver personalized care and guide patients through tailored IOL selections, especially critical for pediatric patients or those with complex conditions.
North America Leads with the United States at the Helm
The United States holds the largest share in the North American intraocular lens market owing to its significant aging population, prevalence of cataract and presbyopia, and a well-established healthcare system equipped for sophisticated ocular surgeries.
The research encompasses a detailed competitive assessment, providing insights into the strategic initiatives and product offerings of major market participants. These key players are driving innovations and responding to market dynamics to solidify their market positions.
Key Focus Areas in the Report Include:
- Detailed examination of driving factors, restraints, and opportunities that impact market dynamics.
- Insights on new product developments, innovations, and R&D initiatives.
- Analytical data on market developments, emerging regions, and market diversification.
- Evaluation of competitive landscapes and market share analysis.
As the global landscape continues to evolve, this report arms industry players with the crucial insights needed to navigate the Intraocular Lens market and capitalize on growth opportunities in this advancing medical sector.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 240 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $4.2 Billion |
| Forecasted Market Value (USD) by 2029 | $6 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Companies Profiled
- Alcon, Inc.
- Johnson & Johnson Vision Care, Inc.
- Bausch + Lomb
- Carl Zeiss Meditec AG
- Hoya Surgical Optics
- Staar Surgical Company
- Santen Pharmaceutical Co. Ltd.
- Nidek Co. Ltd.
- Lenstec, Inc.
- Rayner Group
- Bvi
- Ophtec B.V.
- Sav-Iol SA
- Appasamy Associates Private Limited
- Atia Vision, Inc.
- Biotech
- Teleon Surgical Bv
- Omni Lens Pvt. Ltd.
- Eyekon Medical
- Humanoptics Holding AG
- Care Group
- Sifi S.P.A.
- Hanita Lenses Ltd.
- Excellent Hi-Care Pvt Ltd.
- Advin Health Care
For more information about this report visit https://www.researchandmarkets.com/r/tn9a2t
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