Dublin, Feb. 21, 2022 (GLOBE NEWSWIRE) -- The "Intraocular Lens Market Size, Share & Trends Analysis Report by Product (Multifocal Intraocular Lens, Toric Intraocular Lens), by End Use (Hospitals, Ambulatory Surgery Centers), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global intraocular lens market size is expected to reach USD 6.2 billion by 2030. It is expected to expand at a CAGR of 4.8% from 2022 to 2030.
The rise in the geriatric and diabetic population, which is prone to develop cataracts and other visual disorders, is expected to foster market growth. In addition, rising awareness regarding visual disorders, increase in healthcare spending, and government support to improve the healthcare infrastructure are some of the significant factors boosting the growth of the market.
Although the market has witnessed a bit of a downfall in overall sales during the first half of the pandemic, it is expected to recover and flourish during the forecast period. The restrictions and lockdowns imposed by the government affected the market negatively in terms of demand as well supply. While the volume of procedures drastically dropped down due to the change in healthcare priorities, the shutdown of manufacturing units led to the shortage in the supply of intraocular lenses. However, with the opening up of the economies and the introduction of vaccines, the market is expected to witness steady growth and earn significant profits during the forecast period.
The market for intraocular lenses was negatively affected during the pandemic due to the postponement and delaying of elective procedures. Cataract surgery is an elective procedure and therefore it was postponed to prevent the patients from contracting the virus. However, the market has begun to recover and the market players and ophthalmologists are focusing on recovering the losses and making the optimum use of technology to overcome the losses incurred during the pandemic. This will help the market to grow despite the challenges possessed by the pandemic.
Intraocular Lens Market Report Highlights
- By product, the multifocal intraocular lens segment dominated the market in 2021 owing to the higher adoption due to its benefits such as high precision and improved visualization
- Based on end use, the hospitals segment held the largest revenue share in 2021 owing to the majority of cataract surgeries being performed in the hospitals and increasing cases of cataract
- North America held the largest revenue share in 2021 owing to the rising incidence of cataracts and other ophthalmic disorders, well-defined regulatory guidelines, and favorable reimbursement scenarios in the region
Key Topics Covered:
Chapter 1 Research Methodology
Chapter 2 Executive Summary
2.1 Intraocular Lens Market Outlook, 2017 - 2030
Chapter 3 Industry Outlook: Market Variables, Trends, & Scope
3.1 Penetration & Growth Prospect Mapping For Intraocular Lens, 2021
3.2 Trend Analysis
3.3 Intraocular Lens Market: Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Rising diabetic population
3.3.1.2 Increasing incidence of visual impairment
3.3.1.3 Improving healthcare infrastructure in emerging economies
3.3.2 Market restraint analysis
3.3.2.1 High cost of surgical procedures and poor reimbursement policies
3.3.2.2 Post therapeutic complications
3.4 Key Opportunity Analysis
3.4.1 Growing partnerships by the key players
3.5 Industry Analysis - Porter's
3.5.1 Supplier Power: Limited number of suppliers for intraocular lens contributes to the high supplier power
3.5.2 Buyer Power: Consolidated nature of the intraocular lens market has led to the low bargaining power of buyers
3.5.3 Substitution Threat: High due to the presence of several big medical device companies
3.5.4 New Entrants Threat: The presence of established players coupled with the need for adequate capacity results in low threat of new entrants
3.5.5 Competitive Rivalry: Low due to consolidated nature of the market
3.6 Intraocular Lens-SWOT Analysis, By PEST
3.7 Intraocular Lens Market: Company Share Analysis
3.9 Trends In Medical Device Industry
3.10 R&D Landscape Of Medical Devices
Chapter 4 Intraocular Lens Market: Product Estimates & Trend Analysis
4.1 Global Intraocular Lens Market: Product Movement Analysis
4.2 Monofocal Intraocular Lens
4.3 Multifocal Intraocular Lens
4.4 Toric Intraocular Lens
4.5 Accommodative Intraocular Lens
Chapter 5 Intraocular Lens Market: End-use Estimates & Trend Analysis
5.1 Global Intraocular Lens Market: End-use Movement Analysis
5.2 Intraocular Lens, by End Use
5.2.2 Hospitals
5.2.3 Ophthalmic Clinics
5.2.4 Ambulatory Surgery Centers
5.2.5 Eye Research Institutes
Chapter 6 Intraocular Lens Market: Regional Estimates & Trend Analysis, by Product, & End Use
Chapter 7 Competitive Landscape
- Alcon, Inc.
- Johnson and Johnson Vision Care, Inc.
- Bausch & Lomb Incorporated
- Carl Zeiss Meditec AG
- Rayner
- EyeKon Medical, Inc.
- Lenstec, Inc.
- HumanOptics AG
- STAAR Surgical Company
- Hoya Corporation
For more information about this report visit https://www.researchandmarkets.com/r/qfvqxq
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
