DUBLIN--(BUSINESS WIRE)--The "Intraocular Lens (IOL) Market by Type (Traditional/Monofocal (Spheric, Aspheric), Premium (Multifocal, Accommodating, and Extended Depth of Focus), and Phakic), Material (PMMA, Foldable), End User and Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global intraocular lens (IOL) market is projected to reach USD 4.56 Billion by 2022 from USD 3.50 Billion in 2017, at a CAGR of 5.4%.
This report analyzes the intraocular lens market by type, material, end user, and region.
By type, the market is segmented into traditional/monofocal IOLs, premium IOLs, and phakic IOLs. The monofocal IOLs segment accounted for the largest share of the market in 2017, owing to the benefits offered by aspheric monofocal IOLs, such as ease of insertion for ophthalmic surgeons, induces less to zero aspheric aberration as compared to other types of IOLs, and create a very effective contrast sensitive optical image for patients.
By material, the market is segmented into foldable IOLs and IOLs. The foldable IOLs segment accounted for the largest share and is expected to grow at the highest CAGR during the forecast period. The growth of this segment is mainly attributed to their advantages such as suitability for manufacturing three-piece IOLs and IOL haptics, high biocompatibility, high light transmissibility, good center placement, resistance to tilting inside the eye, and UV-absorbing property.
On the basis of end users, the intraocular lens market is segmented into hospitals and clinics, and ambulatory surgery centers (ASC). The hospitals and clinics segment held the largest share of the intraocular lens market in 2017; while ambulatory surgical centers are expected to register the highest growth during the forecast period. In comparison to hospitals, ASCs provide outpatient procedures that do not require an overnight stay post-surgery and offer cost-effective and convenient options for surgeries; these factors are resulting in the increasing number cataract procedures performed at ambulatory surgery centers.
- Rising Prevalence of Eye Diseases
- Obesity and Diabetes
- Age-Related Macular Degeneration
- Government and Awareness Initiatives to Control and Treat Blindness
- Technological Advancements in IOLs
- Lack of Proper Coverage Or Co-Payment Policies for Premium IOLs
- Untapped Potential of Emerging Markets
- Scarcity of Ophthalmologists
- Bausch + Lomb
- Carl Zeiss Meditec
- Hoya Corporation
- Johnson & Johnson
- Rayner Intraocular Lenses
- SAV IOL
- Staar Surgical Company
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