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DUBLIN, March 13, 2024 /PRNewswire/ -- The "Global Intraocular Lens Market by Type (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 market is projected to reach USD 6.0 Billion by 2029 from USD 4.2 Billion in 2023, at a CAGR of 6.3% during the forecast period.

Intraocular lenses are used in different types of eye surgeries like cataracts. rise in the technological advancement in IOLs, increasing the global aging population, and growing awareness of minimally invasive surgeries are some of the key growth drivers for the global Intraocular lens market.

Catract surgery application segment accounted for the fastest growing segment of the global Intraocular lens market

By application segment, Intraocular lens market is segmented into cataract surgery, presbyopia, corneal Disorders, and others. The fastest growing segment by application in the intraocular lens market is cataract surgery segment. Many countries are implementing or expanding insurance coverage for cataract surgery and IOLs. This increased affordability makes treatment more accessible and fuels market demand for cataract surgery. It is expected that the prevalence of cataracts would increase significantly as the world's population ages. For the next few decades, this demographic shift further assures steady rise in the demand for IOLs and cataract surgery.

Ophthalmic clinics are the second largest end user segment of the global intraocular lens market

By end user segment, Intraocular lens market is segmented into Hospitals, Ophthalmology Clinics, Eye Research Institutes, and Others. Ophthalmology clinics is accounted for the second largest segment. A growing number of patients are looking for improved IOL options that are personalised to their requirements and preferences. Ophthalmology clinics frequently provide more individualized care and IOL selection expertise. Also, Clinics specializing in ophthalmology handle specific patient groups, such as children or those with complex eye disorders. They can provide these populations with customised treatment and their knowledge in IOL selection.

US accounted for highest market share in North America intraocular lens market

By country, North America intraocular lens market is divided into US and Canada. US is accounted for the highest market share for intraocular lenses. Due to the huge and growing elderly population in the US, age-related eye problems including cataracts and presbyopia are becoming more common and demand the use of intraocular lenses (IOLs) for correction. The US comprises an advanced healthcare system that includes cutting-edge facilities and highly qualified ophthalmologists, creating an ideal setting for IOL installation and cataract procedures.

The report provides insights on the following:

• Analysis of key drivers (Growing number of old age population, increasing in the number of cataract surgeries, and Rise in the technological advancement in IOLs), restraints (rising the cost of intraocular lenses) opportunities (Potential growth opportunities in emerging countries), and challenges (shrinking in the workforce and skilled surgeons in intraocular lens industry) influencing the growth of the intraocular lens market.
• Product Development/innovation: Comprehensive details on new technologies, R&D initiatives, and product and service launches for intraocular lens market.
• Market Development: Comprehensive data on attractive markets, and the research analyzes the global intraocular lens market.
• Market Diversification: Detailed information on emerging products and services, unexplored regions, current trends, and investments in the intraocular lens market.
• Competitive Assessment: Comprehensive analysis of market shares, growth plans, and service offerings of major companies operating in the intraocular lens market like Alcon Inc. (US), Johnson & Johnson Vision Care, Inc. (US), Carl Zeiss Meditec AG (Germany), Hoya Corporation (Japan), Bausch & Lomb (US), STAAR Surgical (US), Santen Pharmaceutical Co., Ltd. (Japan), NIDEK Co., Ltd. (Japan), LENSTEC, Inc. (US), Rayner Group (England), Beaver-Visitec International (US), Ophtec B.V. (Netherlands), SAV-IOL SA (Switzerland), Appasamy Associates Private Limited (India), Atia Vision, Inc. (US), Biotech vision care (Switzerland), Teleon Surgical BV (Netherlands), OMNI Lens Pvt. Ltd. (India), EyeKon Medical, Inc. (US), Humanoptics Holding AG (Germany), Care Group (India), SIFI S.p.A. (Italy), Hanita Lenses Ltd (Israel), Excellent Hi-Care Pvt Ltd. (India), and Advin Health Care (India).

Key Topics Covered:

Executive Summary

• Intraocular Lens Market, by Type, 2023 vs. 2029 (USD Million)
• Intraocular Lens Market, by Material, 2023 vs. 2029 (USD Million)
• Intraocular Lens Market, by Application, 2023 vs. 2029 (USD Million)
• Intraocular Lens Market, by End-user, 2023 vs. 2029 (USD Million)
• Geographic Snapshot of Intraocular Lens Market

Premium Insights

• Intraocular Lens Market Overview - Rising Incidence of Chronic Diseases and Subsequent Rise in Cataract Surgeries to Drive Market Growth
• Asia-Pacific: Intraocular Lens Market, by End-user - Hospitals Segment Accounted for Largest Market Share in 2022
• Intraocular Lens Market: Geographic Growth Opportunities - China to Register Highest CAGR During Forecast Period
• Intraocular Lens Market: Regional Mix - North America Accounted for Largest Market Share in 2022
• Intraocular Lens Market: Developed Countries vs. Emerging Economies - Emerging Economies to Register Higher Growth Rates During Forecast Period

Market Dynamics

Drivers

• Increasing Geriatric Population and Subsequent Rise in Ophthalmic Disorders
• Rising Number of Cataract Surgeries
• Growing Technological Advancements in IOLs

Restrains

• Rising Cost of Intraocular Lenses

Opportunities

• High Growth Potential of Emerging Economies

Challenges

• Shortage of Skilled Ophthalmologists

Technology Analysis

• Technological Advancements in Materials, Designs, and Manufacturing Techniques
• AI Integration in Intraocular Lenses

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/b3b2my

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