According to the research report, the Global Intraocular Lens Market Size is valued at USD 3.4 billion in 2019 and estimated to grow at a CAGR of 4.9%, to reach 4.53 billion by 2024 during the forecast period 2019-2024. Intraocular lens is defined as it is a feigned lens that is inserted during the cataract process.
Industry Overview
Many people are suffering with cataract that may be caused due to According to the WHO; cataract is responsible for blindness and is likely to be regarded to support the intraocular lens market. According to the International Agency for the prevention of Blindness, Vision 2020 is one the resourcefulness that is introduced by the IAPB, to permanently get rid of the blindness across the world.
In 2017, Maharashtra FDA has released the hiking up of the lenses that has announced the patients who has to undergo cataract surgery are costing 200 to 300% larger than the purchase cost.
Drivers
Factors like the number of cataract surgeries are increasing the market growth. Growing awareness people by arranging campaigns for cataract patients by various government and other private and public organizations is likely to enlarge the market growth. Growing elder people population and also growing diabetic population that leads to the cataract and other ophthalmology procedures is also boosting up the market growth.
The availability of proficient physicians and healthcare practioner’s are also one of the factors that boost up the market growth. Convenient and comfortable use of lens, availability of the lens in the market is accelerating the market growth. Cost and surgeon importance are also the factors that surge up the market growth.
Restrains
The hiking up of the intraocular lens is one of the major factors that are limiting the market growth. Rigid and firm regulations in accepting the premarket approval for the intraocular lens is expected to hamper the market growth. Shortage of proper coverage of policy where the patient pays portion of money to the policy holder for intraocular lens is one of the factors that increase the market growth. Side-effects that occur post-surgical are one of the factors that obstruct the market growth.
Recent Market Developments in the Intraocular Lens Industry:
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 - 2024 |
|
Segments Covered |
By Material, Type, End-User, Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Johnson & Johnson, Valeant, Carl Zeiss Meditec AG, Rayner, Alcon, Inc. (a division of Novartis AG), EyeKon Medical, Inc., Lenstec, Inc., HumanOptics AG, STAAR Surgical, Physiol s.a., Calhoun Vision Center, and Oculentis GmBH., |
This market research report on Global Intraocular Lens Market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2024.
Intraocular Lens Market - By Material:
Based on the Material, Silicone and Hydrophobic Acrylic is likely to obtain major share of the market. These intraocular lenses are made from these silicone and hydrophobic acrylic which can be inserted through small openings or cuts.
Intraocular Lens Market - By Type:
Based on the type, Monofocal Intraocular lens segment is expected to dominate the intraocular lens market. Due to the low cost when compared with premium ones and government policies that are supportable are the factors that increase the market.
Intraocular Lens Market - By End User:
Based on the End-User category, Hospitals segment is expected to maintain their dominance during the period. Hospitals have advance technology facilities used for the usage of retinal and corneal is propelling the market growth.
Regional Analysis:
North America is expected to have the largest market share due to the increasing number of patients undergoing cataract surgery. Asia Pacific is expected to witness significant growth.
Key Market participants dominating the Global Intraocular Lens Market are:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemiology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Material
5.1.1 Introduction
5.1.2 Polymethylmethacrylate (PMMA)
5.1.3 Silicone
5.1.4 Hydrophobic Acrylic
5.1.5 Y-o-Y Growth Analysis, By Material
5.1.6 Market Attractiveness Analysis, By Material
5.1.7 Market Share Analysis, By Material
5.2 Type
5.2.1 Introduction
5.2.2 Monofocal Intraocular Lens
5.2.3 Premium Intraocular Lens
5.2.3.1 Toric Intraocular Lens
5.2.3.2 Multifocal Intraocular Lens
5.2.3.3 Accommodating Intraocular Lens
5.2.4 Others
5.2.4.1 Blue Light Filtering Intraocular Lens
5.2.4.2 Phakic Intraocular Lens
5.2.4.3 Aspheric Intraocular Lens
5.2.4.4 Y-o-Y Growth Analysis, By Type
5.2.4.5 Market Attractiveness Analysis, By Type
5.2.4.6 Market Share Analysis, By Type
5.3 End-User
5.3.1 Introduction
5.3.2 Hospitals
5.3.3 Ambulatory Surgery Centers
5.3.4 Ophthalmology Clinics
5.3.5 Eye Research Institutes
5.3.6 Y-o-Y Growth Analysis, By End User
5.3.7 Market Attractiveness Analysis, By End User
5.3.8 Market Share Analysis, By End User
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Material
6.1.3.3 By Type
6.1.3.4 By End User
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Material
6.1.4.3 By Type
6.1.4.4 By End User
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Material
6.1.5.3 By Type
6.1.5.4 By End User
6.2 North America
6.2.1 Introduction
6.2.2 United States
6.2.3 Canada
6.3 Europe
6.3.1 Introduction
6.3.2 U.K
6.3.3 Spain
6.3.4 Germany
6.3.5 Italy
6.3.6 France
6.4 Asia-Pacific
6.4.1 Introduction
6.4.2 China
6.4.3 India
6.4.4 Japan
6.4.5 Australia
6.4.6 South Korea
6.5 Latin America
6.5.1 Introduction
6.5.2 Brazil
6.5.3 Argentina
6.5.4 Mexico
6.5.5 Rest of Latin America
6.6 Middle East & Africa
6.6.1 Introduction
6.6.2 Middle-East
6.6.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Johnson & Johnson
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Carl Zeiss Meditec AG
8.3 Rayner
8.4 EyeKon Medical, Inc
8.5 HumanOptics AG
8.6 STAAR Surgical
8.7 HOYA GROUP
8.8 Alcon, Inc.
8.9 Valeant
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, Collaborations, and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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