SEATTLE, June 10, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global intraocular lens market is estimated to be valued at US$ 5,076.1 Million in 2022 and is expected to exhibit a CAGR of 7.2% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Intraocular Lens Market:
Key companies operating in market are focusing on new initiatives for expanding their product reach, which is contributing to the market growth. For instance, in 4th May 2022, Johnson & Johnson, a company that manufactures products related to eye health presented twenty-six poster and podium presentations focusing on vision science, cataract, dry eye, and other refractive research at the Association for 2022 Research in Vision and Ophthalmology (ARVO) Annual Meeting held in New Orleans. The company highlighted that ongoing myopia research points and assessments of the photic phenomena using different intraocular lens (IOL) technologies enabled the company to better develop advanced class IOLs. Hence, such initiatives will help in the development of advanced IOLs.
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Key Market Takeaways:
Global intraocular lens market is expected to exhibit a CAGR of 7.2% during the forecast period, owing to launch of new IOLs. For instance, in February 2021, BVI, an ophthalmological products developer, launched new PODEYE TORIC intraocular lens, which is used for astigmatism correction. This TORIC IOL is based on the proprietary G-free hydrophobic polymer technology for providing stable, accurate and reliable correction of severe astigmatism in patients.
Among material, polymethylmethacrylate (PMMA) segment is expected to witness highest growth in the global intraocular lens market over the forecast period. Segment growth can be attributed to factors such as its wide usage in development of foldable IOLs. The lens made up of polymethylmethacrylate (PMMA) are more flexible and requires much smaller incision for their insertion hence owing to their advantages; they are widely adopted in developed regions such as North America.
Competitive Landscape:
Key players operating in the global intraocular lens market include Alcon, Bausch & Lomb, Johnson & Johnson, Staar Surgical Company, Carl Zeiss Meditec, HOYA Corporation, Lenstec, Inc., Ophtec BV, Rayner Intraocular Lenses Limited, and HumanOptics AG.
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Market segmentation:
- Global Intraocular Lens Market, By Product Type
- Monofocal Intraocular Lens
- Multifocal Intraocular Lens
- Toric Intraocular Lens
- Accommodative Intraocular Lens
- Global Intraocular Lens Market, By Flexibility
- Foldable
- Rigid
- Global Intraocular Lens Market, By Material
- Polymethylmethacrylate (PMMA)
- Silicone
- Hydrophillic Acrylic
- Hydrophobic Acrylic
- Global Intraocular Lens Market, By End User
- Hospitals
- Ophthalmology Clinics
- Ambulatory Surgery Centers
- Global Intraocular Lens Market, By Region:
- North America
- By Country
- U.S.
- Canada
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Europe
- By Country
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
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