Intracoular lenses are artificial lenses which cater to patients with damaged natural lenses and in case of patients undergoing cataract removal surgeries. Growing global prevalence of cataract and the high presence of unmet medical needs especially in emerging and underdeveloped economies are two of the most significant growth drivers of this market. Moreover, the fact that global base of population over the age of 65 years will grow from 7% in 2000 to 16% in 2050 will trigger the incidence rates of cataract and therefore will serve the global intraocular lenses market as a driver. The introduction of technologically advanced products such as accommodative multifocal intraocular lenses and the preference shift from conventional intraocular lenses to foldable lenses will fuel the future growth of this market.
North America is expected to dominate the market in terms of market share during the course of the forecast period. The presence of high patient awareness levels and high per capita healthcare expenditure are the primary growth drivers of this market. Furthermore, the high prevalence of cataract procedures in the U.S. (according to the U.S. CDC approximately 3.2 million cataract procedures are conducted in the U.S. every year) and growing base of geriatric population in the country (estimates suggest that by 2030 approximately 70 million Americans will belong to the age group of 65 years and above) will drive the growth of this region. Europe follows North America in terms of market share.
However, the Asia-Pacific region is identified as the most lucrative market and therefore will exhibit the highest CAGR during the forecast period. The presence of a large base of geriatric population in Japan and constantly rising patient awareness levels and disposable incomes in emerging economies such as India and China are some of the factors attributing to its high growth rate.
This research study encompasses a competitive landscape of the intraocular lenses market. Revenue analysis, product benchmarking and strategic developments of key market players such as Carl Zeiss, Abbott Medical Optics Inc., Bausch and Lomb Inc., Staar Surgical Company, Alcon Inc., EuroCrystal SA and others are also provided in this report.
Grand View’s market research study takes a closer look at the intraocular lenses industry, providing a holistic perspective on market dynamics, trends, supply and demand. Our report deep-dives into the market and segments it on multiple levels and providing key insights on a macro as well as micro level. The study aims at providing granular information, regarding estimates and forecasts for key product segments including monofocal lens, toric lens and multifocal lens with yearly forecast up to 2020. The report also provides the same level of information for key regional markets of North America, Europe, Asia-Pacific and RoW (rest of the world).
The research report analyzes various factors which have been driving and inhibiting the global intraocular lenses market in the past. In addition, the research report analyzes the impact of each driver and restraint on the market growth based on which the market is forecasted. The report also showcases the opportunities available in the market which may act as future drivers for the market.
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