Intraocular
Lens (IOL) implantation enables restoration of normal vision and
significantly reduces problems associated with cataract spectacles
and contact lenses. Surgical techniques for extracting the human lens
continued over time by means of incision size. In later days,
invention of implantable, tolerable and technically feasible IOL was
revolutionized in cataract surgery. In case of IOL material, Rigid or
Polymethylmethacrylate (PMMA) was preferred intraocular lens material
for a long time due to its lightness, clarity and stability, which
were un-foldable lenses. Advancement in IOL material, PMMA are
eventually replaced by silicone lens, hydrophilic and hydrophobic
acrylic lenses. Moreover, continuous development in new intraocular
lens (IOL) material and design has offered more options such as
hydrogel, soft acrylic and silicone IOL. However, ease of use,
availability, cost, and surgeon preference are also important
factors, which influence IOL selection. Currently, key players in the
intraocular lens market offers various types IOLs to improve the
vision, which includes monofocal lens, multifocal lens, toric lens,
accommodating lens, and trifocal lens.
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Increasing
numbers of cataract surgeries, coupled with growing demand for
multi-distance vision lens and significant increase in awareness
programs for cataract patients by various government and private
organizations are expected to augment growth of the intraocular lens
market over the forecast period. Moreover, adoption of advanced
technologies in cataract surgery and entry of various market players
offering technologically advanced intraocular lens with affordable
costs are further expected to drive growth of intraocular lens
market.
The
global intraocular lens market was valued at US$ 3.8 billion in 2017
and is expected to witness a CAGR of 7.5% over the forecast period
(2017 – 2025).
Increasing
number of Cataract Surgeries is expected to Drive Growth of the
Intraocular Lens Market
Diabetes,
prolonged exposure to sunlight, consumption of tobacco and alcohol
are the major factors causing cataract and rising number of cataract
patients increasing the demand for cataract surgeries. In addition to
this, rising diabetes patients has led to increase in number of
cataract surgery, as diabetes is a major cause of blindness.
According to World Health Organization (WHO), around 422 million
people were suffering from diabetes in 2014.
Increasing
Governmental Initiatives and Awareness Programs for Cataract Patients
is Driving Growth of the Intraocular Lens Market
Governmental
and non-governmental organization are working together to spread
awareness regarding cataract and associated conditions such as
blindness. For instance, according to WHO in 2017, an estimated 253
million people had vision impairment worldwide, which creates the
need for government to take initiatives and conduct awareness program
for cataract patients. WHO and Task Force of International NGO have
jointly prepared and launched a common agenda for global action
called ‘The Vision 2020- the right to sight’ in 1999 with aim to
eliminate blindness worldwide by 2020. This organization works
jointly to mitigate implications of blindness in developmental,
economic, social and quality of life terms, which is expected to
augment the growth of intraocular lens market in near future.
Competitive
Landscape
Major
players operating in market include STAAR Surgical Company, HOYA
Corporation, Lenstec, Inc., Ophtec BV, Johnson & Johnson, Alcon,
Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, Rayner
Intraocular Lenses Limited, and HumanOptics AG.
Detailed
Segmentation:
Global
Intraocular Lens Market, By Flexibility:
-
Folded
-
Rigid
-
Premium Intraocular Lens
-
Multifocal Intraocular lens
-
Accommodating Intraocular lens
-
Toric Intraocular lens
-
Multifocal Intraocular lens
-
Monofocal Intraocular Lens
-
Preloaded Intraocular Lens
-
Others
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