Intraocular lens (IOL)
is inserted in the eyes of the patients suffering from myopia or cataracts. The
lenses are inserted inside the eye, after removal of cataract crystalline.
After the cataract surgery intraocular lens replaces the focusing power of
natural lens. The pseudophakic intraocular lens (PIOL) switches with original
crystalline lens to deliver the light focusing function which was originally
undertaken by crystalline lens. Another type of IOL named phakicis is placed
over the existing natural lens. This type of lens is used in refractive surgery
to increase the optical power of an eye as a treatment for myopia or
nearsightedness. IOL consists of minor plastic lens with plastic struts named
haptics. Cataract or myopia vision can be restored by three methods. The first
method is use of glasses to restore vision. The second method is to wear a
contact lens to correct myopia or cataract vision. Third method describes
placement of permanent intraocular lens inside the eye.
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The global market for intraocular
lens can be segmented as follows:
- By materials
- Poly Methyl Meth Aacrylate (PMMA)
- silicone, hydrophobic acrylate
- hydrophilic acrylate
- collamer
- By product types
- Aphakic
- Pseudophakic
- Phakic
Geriatric population is
at high risk of suffering from myopia or cataract. Thus, with rapid increase in
geriatric population the global market for intraocular lens is also expected to
grow. In addition, technological advancements in intraocular lens market also
further accentuate the market growth. Moreover, rising adoption of premium
intraocular lens such as multifocal IOLs, toric IOLs and accommodating IOLs are
further accentuating the global market for intraocular lenses during the
forecast period. However, high cost associated with surgical procedures for the
placement of intraocular lens inside the eye might restrict the global market
of intraocular lens. In addition, post operative refractive error might be a
crucial concern that can pose serious threat for the demand of intraocular lens
market.
North America dominates
the global intraocular lens market owing to large number of cataract surgeries
performed every year. For instance, Society of Cataract and Refractive Surgery
(ASCRS) estimated that around 3 million cataract surgeries are performed in the
U.S. every year. In addition, government initiatives and favorable
reimbursement scenario also drives the growth of intraocular lens market in
North American region. Moreover, technological advancements in intraocular lens
surgical procedure also further accentuates the global market for intraocular
lens during the study period. Europe represents the second position in the
global market of intraocular lens due to the presence of large geriatric
population in European region. In addition, initiatives taken by government for
the benefit of people to perform cataract surgery also propel the growth of
intraocular lens market in this region. Asia-Pacific and RoW represents the
third and fourth position in the global market for intraocular lens due to lack
of proper healthcare facilities (refractive surgery) in few remote areas of
Asian (India, Bangladesh, Pakistan) and African countries (Egypt, Libya,
Sudan). Moreover, high cost of performing cataract surgery is a barrier for
intraocular lens market growth in the developing and underdeveloped countries
in the world especially in Asian and African continent.
Various key players
contributing the global market share of intraocular lens market includes Abbott
Medical Optics, Carl Zeiss, Bausch & Lomb, Eyekon Medical, Lenstec,
Humanoptics, Novartis AG, Morcher GmbH, Ophtec BV, Oculentis BV, Ophtec USA,
PowerVision, Physio SA, Rayner Intraocular Lenses, Staar Surgical Company,
Santen Pharmaceutical and Wavelight AG among others.
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This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
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comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
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