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Intraocular Lens Market Revenues to Hit US$ 5069.5 Mn by 2024
by Metcarl · January 23 Cheap Brandon Knight Jersey , 2019


The global intraocular lens market is likely to witness high growth opportunities birthing with the rise in prevalence of cataract all across the world. An intraocular lens replaces the natural lens for better focusing power. The normal lens is extracted out by surgery. Rise in diabetic population. Diabetic patients are more prone to fall for cataract, thus as a result leads to loss or poor vision. This has significantly helped the market to grow. Other factor which is helping the market growth subordinately is the eye related issue due various age. There are rapid technological advancement which is catapulting the market to a tremendous growth.


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According to analysts from Transparency Market Research, the global intraocular lens market is likely to rise at a healthy CAGR of 5.20% during the assessed period 2017-2024. Recently the market was valued at US$3553.4 mn and is predicted to hit US$5069.5 mn by the end of the forecast period.


On the basis of type, the global intraocular market is classified into Monofocal IOL, Toric IOL Cheap Tyson Chandler Jersey , Multifocal IOL, Accommodative IOL, and others. Monofocal IOL helps in restoration of vision. This aids by focusing on only one area. These types of lenses are mostly used for restoring distance vision. These are most common among the older population as with the growing age, the muscles in the eyes become weak and unable to focus. However, it has been noticed even with monfocal IOL Cheap Jared Dudley Jersey , patients may need to use glasses or bifocals. Mutlifocal intraocular lenses are used in restoring high quality vision at any distance. This is superior to monofocal IOL as unlike monofical IOL, multifocal IOL can be used for restoring quality vision for long distance and close proximity. Butt however, monofical IOL held the highest share in the market.


On the basis of end users, the global intraocular lens market can be segregated into hospitals, ambulatory surgery centers Cheap Elfrid Payton Jersey , eye research institutes, and ophthalmology clinics. Amongst the pack, the hospital segment accounted for the largest share due to the presence of hospital both in remote as well as urban area. Various governmental and non-governmental organizations are working hand in hand in order to spread the awareness regarding the treatment available for eyes. They are also spreading the symptoms that might help an individual to understand the problem and seek for early treatment.


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However it has been noticed that high cost of intraocular lens along with strict regulations in fetching approval does not abode well in the growth of the market. These are likely to deter the growth of the market during the assessed period.


On the basis of geography, the market is spread across Middle East & Africa, Asia-Pacific Cheap Marquese Chriss Jersey , Latin America, Europe, and North America. Amongst the pack, North America dominated the market and is likely to retain the position due to high level of awareness among general people, and rise in per capita expenditure on healthcare. Apart from these Cheap Charles Barkley Jersey , presence of major players in the regions pushes the region to flourish well. When it comes to technology the rate at which North America espouses it is exceedingly high, thus helping to bolster the market.


Major players in the market are Bausch & Lomb, Inc, Alcon, Johnson & Johnson Vision Care Cheap Grant Hill Jersey , Abbott Medical Optics, and Hoya Corporation.


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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants Cheap Jason Kidd Jersey , use proprietary data sources and various tools and techniques to gather, and analyze information.


Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.


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