Dublin, Oct. 13, 2022 (GLOBE NEWSWIRE) — The global intraocular lenses market valued at US$ 4. 1 billion in 2022 is projected to surge to US$ 6. 7 billion by the end of 2032. Sales of intraocular lenses are slated to rise in a steady 5% CAGR over the next ten years .
An increasing number of cataract removal surgeries being performed across the world is anticipated to be a key driver for the global intraocular lenses marketplace across the particular forecast period. Rising geriatric population, adoption of advanced ophthalmic products, high incidence of diabetes, and introduction of favorable reimbursement policies are other factors that are expected to uplift market growth.
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Key manufacturers of intraocular lenses are focusing on the expansion of their business scope in order to gain a competitive edge over some other market players.
- In January 2022, Rayner, the U. K. -based IOL manufacturer announced the growth of its product portfolio. The RayOne product profile features RayOne Hydrophobic BLF, which is the first blue light-filtering intraocular lens made to protect the particular retina from harmful glowing blue light.
- Within July 2021, Johnson & Johnson Vision, a subsidiary of Johnson & Manley announced that it had received FDA approval with regard to its new intraocular lenses. Tecnis Synergy and Tecnis Synergy Toric II were the two lenses that were approved by the U. S. Food and Drug Administration.
Key Takeaways from Market Study
- At present, the global intraocular lens market is valued from US$ four. 1 billion dollars.
- Sales of intraocular lens are estimated to progress with a 5% CAGR over the next ten years.
- Revenue from the intraocular lenses market will be slated to reach US$ 6. 7 billion by 2032.
- Lack associated with insurance coverage regarding postoperative issues and the absence of proper reimbursement intended for premium intraocular lenses are usually projected to hamper marketplace growth.
- China, Japan, and India are anticipated in order to lead the demand to get intraocular lens in the Asia Pacific region owing to the particular high occurrence of diabetes and rising number of cataract surgeries being performed.
- Monofocal intraocular lenses accounted for nearly 50% share of the global market in 2021 and a similar trend is usually expected pertaining to the forecast period.
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Competitive Landscape
Companies in the particular intraocular lens market are usually expected to focus on acquisitions, mergers, collaborations, plus partnerships that will help them strengthen their global marketplace presence.
- In January 2022, Alcon, a leading eye care brand introduced the completion of its acquisition of Ivantis, known for its novel Hydrus® Microstent designed to lower eye pressure meant for open-angle glaucoma patients. Alcon planned in order to bring Ivantis’s novel minimally invasive glaucoma surgery (MIGS) device to the international markets and gain a competitive edge.
Key producers of intraocular lenses are also focusing upon getting approval for their brand new products through regulatory authorities to commercialize them and propel sales potential.
- In July 2022, Lenstec Inc., a top designer plus manufacturer associated with lenses, announced that the Lenstec SBL-3 IOL has been approved simply by the Oughout. S. FOOD AND DRUG ADMINISTRATION. It is a next-gen asymmetric multifocal refractive intraocular lens with a patented design that provides improved contrast sensitivity and minimizes glare and halo that are associated with traditional intraocular lenses.
Winning Strategy
Intraocular lens manufacturers are investing in research and development of book lenses to fast-track their own launch plus advance their particular sales potential. Suppliers of intraocular lenses are also expected to focus on the expansion of the business scope through various collaborations, partnerships, and mergers across the forecast period.
A detailed account of all market strategies adopted by key players as well because new entrants continues to be profiled in this latest intraocular lenses market research report by Fact. MR, a market research and competitive intelligence provider.
Intraocular Lens Market by Category
- By Type:
- Monofocal Intraocular Lens
- Premium Intraocular Lens
- Multifocal Intraocular Zoom lens
- Toric Intraocular Lens
- Accommodative Intraocular Contact lens
- By Material:
- Hydrophobic Acrylic
- Hydrophilic Acrylic
- Polymethylmethacrylate (PMMA)
- Silicone
- Simply by End User:
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgical Centers
- Eye Research Institutes
- By Region:
- North America
- Latin The united states
- Europe
- APAC
- MEA
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More Valuable Insights on Offer
Truth. MR, in its new offering, presents an unbiased analysis of the global intraocular lenses marketplace, presenting historical demand data (2017-2021) and forecast statistics for the particular period of 2022-2032.
The study divulges essential insights on the market on the basis of type (monofocal intraocular lenses, premium intraocular lenses), material (hydrophobic acrylic, hydrophilic acrylic, polymethylmethacrylate (PMMA), silicone), and end user (hospitals, ophthalmic clinics, ambulatory surgical centers, eye study institutes), across six major regions (North America, Latin America, Europe, Asia Pacific, and typically the Middle East & Africa).
Table of Content
- Executive Summary
- Global Marketplace Overview
- Demand Side Trends
- Supply Side Trends
- Reality. MR Analysis and Recommendations
- Market Overview
- Industry Coverage / Taxonomy
- Market place Introduction plus Definition
- Market Risks in addition to Trends Assessment
- Risk Assessment
- Key Trends Impacting the Market
- Formulation and Type Development Styles
- Market Background and foundation Data Points
- Need from the Hour for Industries
- Industry Wise Industry 4. 0
- Intraocular Lenses – Strategic Priorities
- Life Cycle Stage
- Importance of Technology
- Use Cases of Intraocular Lenses
- Forecast Factors: Relevance and Impact
- Investment Feasibility Matrix
- PESTLE Analysis
- Porter’s Five Forces Evaluation
Contd …
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