New York, NY, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Intraocular Lens Market by Type (Monofocal IOLs and Premium IOLs); By Application (Cataract Surgery, Refractive Lens Exchange Surgery, and Trauma Surgery); By Material (Polymethylmethacrylate (PMMA), Silicon, Hydrophobic Acrylic, and Hydrogel); By End-User (Hospitals, Ambulatory Surgical Centers (ASCs), Ophthalmology Clinics, and Eye Research Institutes): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022”.
According to the report, the global intraocular lens market was valued at around USD 3,200 million in the year 2016 and it is expected to reach approximately USD 4,500 million by 2022. The global intraocular lens market is expected to exhibit a CAGR of over 5% between 2017 and 2022.
Browse through 93 Tables & 46 Figures spread over 120 Pages and in-depth TOC on "Global Intraocular Lens Market: Industry Size, Share, and Emerging Trends Analysis Report and Forecast 2016 – 2022”.
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Market Report Highlights:
- The rise in the geriatric population that are susceptible to ocular conditions and the high presence of unmet medical needs, especially in emerging and underdeveloped economies, is expected to fuel the market growth.
- Increasing awareness among people, increase in healthcare facilities, and increase in disposable income is expected to contribute to the growth of the market.
- The high cost of surgical procedures and post-operative complications may hamper the market growth during the forecast period.
- The monofocal IOLs dominated the type segment of the intraocular lens market during 2016.
- Increased adoption of the premium lens owing to its advantages such as enhanced visual performance and reduced astigmatism is also expected to boost the growth of the market.
- The neurological clinics are expected to grow at highest CAGR of over 5.5% over the forecast period
- North America dominated the intraocular lens market with over 46% market share of total revenue generated in 2016.
- Asia Pacific is expected to grow at highest CAGR of over 5.5% over the forecast period owing to the emerging economies such as China, Japan, and India.
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According to the analysts and insights shared by industry experts during primary research, increase in the government initiatives to eliminate avoidable blindness and growth in the geriatric population susceptible to ocular conditions is expected to drive the market growth over the years to come.
The increasing acceptance of the intraocular lenses by the population along with the escalating incidences of cataract is increasing the sales of intraocular lenses. Advanced techniques and recently developed technologies for intraocular lenses provide improved patient safety and better outcomes with a significant rise in the cataract surgery performance.
Browse the full " Intraocular Lens Market by Type (Monofocal IOLs and Premium IOLs); By Application (Cataract Surgery, Refractive Lens Exchange Surgery, and Trauma Surgery); By Material (Polymethylmethacrylate (PMMA), Silicon, Hydrophobic Acrylic, and Hydrogel); By End-User (Hospitals, Ambulatory Surgical Centers (ASCs), Ophthalmology Clinics, and Eye Research Institutes): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022" report at https://www.zionmarketresearch.com/report/intraocular-lens-market
The global intraocular lens market is segmented on the basis of type, application, material, end-user, and the geographical regions.
Monofocal intraocular lens segment dominated the type segment in the intraocular lens market. Monofocal intraocular lenses are used more than any other products owing to its increased benefits. Monofocal intraocular lenses are commonly used by patients that suffer cataracts in both the eyes.
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The cataract surgery is expected to increase the utilization of the intraocular lenses. Cataract surgery is the most preferred surgical procedure in developing as well as developed countries. The intraocular lenses are also used for a type of vision correction surgery called refractive lens exchange.
Hospitals segment held more than 40% share of the global market in 2016 and is expected to dominate the market share in the coming years. The increase in the healthcare infrastructure and availability of relatively low-cost treatment provided by hospitals will serve the major patient pool and help the intraocular lens market rise.
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The major market players in the intraocular lens market are Alcon (Novartis AG), Aurolab, Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, EyeKon Medical Inc., HOYA Surgical Optics among others.
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Global Intraocular Lens Market: By Type
- Monofocal IOLs
- Premium IOLs
- Multifocal IOLs
- Accommodative IOLs
- Toric IOLs
- Aspheric IOLs
- Others (Phakic Intraocular Lens (PIOL), Pseudophakic IOL, etc.)
Global Intraocular Lens Market: By Application
- Cataract Surgery
- Refractive Lens Exchange Surgery
- Trauma Surgery
Global Intraocular Lens Market: By Material
- Polymethylmethacrylate (PMMA)
- Silicon
- Hydrophobic Acrylic
- Hydrogel
Global Intraocular Lens Market: By End-User
- Hospitals
- Ambulatory Surgical Centers (ASCs)
- Ophthalmology Clinics
- Eye Research Institutes
Global Intraocular Lens Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of the Middle East and Africa
- Latin America
- Brazil
- Rest of Latin America
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