Dublin, May 07, 2019 (GLOBE NEWSWIRE) -- The "Intraocular Lens Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global intraocular lens was valued USD 3,825.6 in 2018 and is expected to witness a CAGR of 4.89% over the period, 2018-2024 (henceforth, the forecast period). Intraocular lenses (IOLs) are implantable medical devices used for vision correction. The key factors propelling the intraocular lens market are increasing ophthalmic issues, growing cases of cataract in the diabetic population, and rising adoption of advanced premium IOLs. A large section of people above the age of 60 years are affected by several kinds of ophthalmic issues, which are chronic and demand eye corrections. Owing to such scenarios, the growth of IOLs has increased with the demand, offering more precise solutions and varied options for physicians for a particular disease. Moreover, the presence of reimbursement policies for essential ophthalmic surgeries and a definite regulatory framework are enhancing growth in the market.
According to the National Eye Institute, the United States recorded 7.7 million diabetic retinopathy cases and 24 million cataract cases and is expected to reach 11.3 million and 38 million, respectively, by 2030. In addition, the American Association of Ophthalmology states that the major cause of visual impairment around the world is reported to be a cataract, and geriatric ocular issues are emerging as prime factors in the developing countries. Hence, such a rise in the ophthalmic conditions across the world is expected to drive the growth of the IOL market, over the forecast period.
Other than the adoption rate, there are few challenges associated with intraocular lenses, like the confusions and errors related to intraocular lenses (IOL) are found to be among the most common postoperative adverse events, as well as the most errors related to incorrect IOL implantation, which restricts its usage. In addition, the reimbursement provided for IOL implants is less and not known widely. The cataract surgery in the United States costs around USD 3,600 to USD 6,600, without insurance coverage. Thus, increasing costs of IOLs and poor reimbursement coverage are expected to hamper the market growth, over the forecast period.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Product
5.2 By End User
5.3 Geography
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Companies Mentioned
- Novartis AG (Alcon)
- Bausch Health Companies Inc. (Bausch + Lomb)
- Carl Zeiss Meditec AG
- EyeKon Medical Inc.
- HOYA CORPORATION
- HumanOptics AG
- Johnson and Johnson Vision Care Inc.
- Lenstec Inc.
- Rayner
- STAAR Surgical Company
For more information about this report visit https://www.researchandmarkets.com/r/f843e2
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