Intraocular Lens Market Report Study, Synthesis and Summation 2018-2026
Intraocular Lens Market, by Flexibility (Folded and Rigid), by Product Type (Premium Intraocular Lens (Multifocal Intraocular lens, Accommodating Intraocular lens and Toric Intraocular lens), Monofocal Intraocular Lens, Preloaded Intraocular Lens, Others), By Material (Polymethylmethacrylate, Silicone, Hydrophilic, Hydrophobic Acrylic), By End User (Hospitals, Ambulatory Surgery Centers, Eye Research Institutes and Ophthalmology Clinics), and By Geography - Global Forecast to 2025
Intraocular lens (IOLs) are medical devices implanted inside the eye to replace natural lens when it is removed during cataract surgery. Intraocular lens area also used during few vision correction surgery. Depending on patient’s visual need and lifestyle; wide variety of intraocular lens are present in the market, including aspheric IOLs, toric IOLs, multifocal IOLs, monofocal IOLs, accommodating IOLs, preloaded IOLs, and among others. The Global Intraocular Lens Market was valued at US$ 3.8 billion in 2017 and is expected to witness a CAGR of 7.5% over the forecast period (2017 – 2025). Moreover, depending on need during cataract surgery and in order to get recommended results; surgeons can mix two different multifocal lens or two different types of intraocular lenses. Increasing government initiatives and awareness programs for cataract patient with aim to eliminate blindness, coupled with growing prevalence of cataract surgeries and introduction of new affordable intraocular lens by various key players are expected to drive growth of the intraocular lens market over the forecast period. Furthermore, significant increase in aging population, high prevalence of diabetes, exposure to ultraviolet sunlight, and family history are the factors contributing to the growth of the global market.