BRUSSELS, Belgium, Nov. 23, 2022 (GLOBE NEWSWIRE) — Intraocular lenses (IOLs) are permanent, artificial lenses that are mostly made of silicone, acrylic, or other plastic compositions and can replace the eye’s natural lens in order to restore both near and distant vision.
The Global Intraocular Zoom lens Market is Likely to Stay Resilient Through the Recession, Though the Value Mix is Expected to be Severely Impacted
Compounding the particular severe impact of Covid-19, the Russia-Ukraine war has amplified the slowdown in the global economy, which will be entering what could become an extended period of feeble growth plus elevated inflation. The situation is likely to lead to supply-chain disruptions and the risk associated with stagflation which might further curtail global economic growth.
Due to the looming recession, patients are expected to delay elective surgical procedures including cataract surgeries until the future of the broader economic climate looks more promising. In key markets such as the United States, cataract surgeries involving monofocal IOLs are generally fully covered by medical insurance providers or government reimbursement programs whereas implantation of premium or even advanced technology IOLs may only be partially covered, with the individual paying out-of-pocket for the particular non-covered-component. Considering the current economic and financial conditions, patients are required to be less willing to incur the costs of these private pays or discretionary procedures and may choose to forgo such methods or products and might consider trading down to more affordable options.
Moreover, in United States, the 2023 Medicare Physician Fee Schedule final rule released by the particular Centers for Medicare & Medicaid Services (CMS) confirms a ~4. 5% cut to surgeons and anesthesiologists, thus harming patient access to needed surgical care. Proposed compensation cuts are likely to adversely effect millions associated with beneficiaries who depend on Medicare health insurance to access sight-saving and sight-restoring procedures. However, healthcare insulation in key markets such as the USA is usually likely to offset the particular anticipated adverse impact of the economic downturn as most Americans now have health insurance. Payors are also expected in order to continue to inject capital into the healthcare economy.
Under-penetrated Premium/Advanced Technology IOLs (AT-IOLs) Offer Ample Growth Opportunities in Intraocular Lens Market
The global intraocular lens market is definitely shifting from monofocal IOLs to premium IOLs/advanced technology IOLs. There lies a huge untapped potential market within the premium IOLs/advanced technology IOLs segment as current penetration stands at 7% outside the USA plus 14% inside USA. The relatively higher pricing associated with premium IOLs/advanced technology IOLs is expected to drive the IOLs market value in the particular upcoming many years.
Technological Advancements in Intraocular Lens are usually Driv ing the Intraocular Lens Market
A global intraocular lens market is expected to become bolstered by recent and consistent technological advancements. For instance,
- In September 2022, Alcon introduced Clareon Toric IOL at the American Academy of Ophthalmology (AAO) 2022 annual meeting in Chicago, U. S., and completed the Clareon Collection. Clareon Toric is a glistening-free toric intraocular zoom lens with exceptional clarity plus unrivaled stability. It was rolled out across select practices in US.
“ Approximately 2. 2 billion dollars people globally suffer from impaired eyesight, and nearly 20% (200 million) people worldwide experience vision impairment or blindness caused simply by cataract or even uncorrected refractive error . There is a pressing need to increase manufacturing operations related to IOLs in order to cater to growing eye health needs . ” – Operations Director , Leading IOL Manufacturer , U. S.
Organic and Inorganic Growth Strategies Adopted by Leading Marketplace Players to Establish Their Strong Foothold inside Intraocular Lens Market
The particular leading players operating in the global intraocular lens market have adopted both organic and inorganic growth strategies such while new product launches, expansion, investments, acquisitions, partnerships to garner a higher market share. For example,
- Inside September 2022, Johnson & Johnson Vision announced the availability of presbyopia-correcting intraocular lens (PC-IOL) powered by InteliLight technology, TECNIS Symfony OptiBlue IOL. The extended-depth-of-focus (EDOF) lens expands presbyopia correction to a lot more patients and joins TECNIS Synergy IOL, a high-performance hybrid zoom lens designed for spectacle independence, in the InteliLight portfolio.
The particular outlook for the intraocular lens market looks quite promising due to an increasing geriatric population plus cases of cataract, technical advancements within IOLs, increased access to treatment, continued investment in promotion and customer education by IOL manufacturers across the world, a growing number of eye care professionals and dedicated eye hospitals, improving technologies access and better patient awareness, plus increasing government initiatives and awareness initiatives to control and treat blindness.
Competitive Landscape Analysis: Intraocular Zoom lens Market
The intraocular lens marketplace is marked by the presence of established market gamers such as Alcon, Johnson & Johnson Vision, Bausch + Lomb, plus Zeiss. Other players operating in the market are HOYA Surgical Optics, BVI (Subsidiary – PhysIOL), Rayner Intraocular Lenses, SAV-IOL, SIFI H. p. A, Ophtec, STAAR Surgical Company, among others.
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