In line with the report published by the experts, the global Intraocular Lens (IOL) Market was projected at US$ 3.27 billion in 2016 and is estimated to reach US$ 5.54 billion by the completion of the year 2025.
Intraocular Lens (IOL) is a lens which is normally inserted in the eyes. These lenses are pretty operative in treating cataracts or myopia. Pseudophakia IOL is a communal category of IOL. As a whole, this is entrenched at the time of cataract surgical treatment. Doctors take away the hazy crystal-like lens, prior to using this lens. This IOL substitutes the crystal-like lens to deliver a purpose of directing of the light. Additional category of Intraocular Lens (IOL) is a phakic IOL. It is applied on the present lens of natural eye.
Growing occurrence of cataract such as the outcome of a huge sector of elderly persons and increasing circumstances of diabetic retinopathy are the factors motivating the global intraocular lenses market, everywhere the world. Increasing circumstances of impaired vision, gush in the capability of expenditure for healthcare, and rising digit of ophthalmologists are too backing up the market.
But, the absence of consciousness and low-slung approachability to eye care in low-income markets may possibly hamper the development of this market.
The global intraocular lens (IOL) industry can be classified by End Use, Product, Material and Region. By End Use, it can be classified as Eye Research Institutes, Ophthalmic Clinics, Ambulatory Care Centers, and Hospitals. By Product, it can be classified as Accommodative, Multifocal, Toric, Monofocal, Extended Depth of Focus, Traditional and Phakic. By Material, it can be classified as Foldable, PMMA.
By Region the global intraocular lens market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America ruled the market for intraocular lens (IOL) during the past year. It is estimated to preserve its prime place during the course of the forecast. Increasing occurrences of cataract and additional ophthalmic complaints are pushing the development of the area. Furthermore, existence of precise controlling strategies and repayment guidelines for cataract treatments is enhancing the generation of income in the market.
Asia Pacific is anticipated to show the speedy development, by means of income. Expected growth in diabetic populace, together with the attachment of eye care in numerous nationwide social security schemes, is expected to increase the Asia Pacific market for intraocular lens. Those patients having problem of diabetes, are additionally liable to macular degeneration, cataract, and additional ophthalmic complaints, causing in larger need for numerous categories of Intraocular Lens (IOL).
As stated by the International Diabetes Federation, the region of western Pacific responsible for the biggest populace suffering from diabetes, such population is almost 77 million. Whereas the region of East Asia responsible for 59 million persons, with diabetes. China responsible for 43.2million and India for 50.8 million diabetic populace within the region. An increasing business of healthcare tourism and a huge group of patient are boosting the development of the intraocular lenses industry in emerging nations such as India and China. Furthermore, inventiveness by government to commercialize and improve price operational choices of treatment and collective efforts of government and private units to set up amenities for eye care are motivating the development of the Asia Pacific market.
Some of the important companies for intraocular lens industry are: Fred Hollows Intraocular Laboratory, Care Group, Aurolab, Oculentis GmbH, Ophtec BV, Rayner Intraocular Lenses Limited, HOYA Corporation, Johnson & Johnson Vision Care, Inc., Bausch + Lomb, Hanita Lenses R.C.A Ltd., Omni Lens Pvt. Ltd., NIDEK CO., LTD., Swiss Advanced Vision (SAV IOL), PhysIOL, STAAR Surgical Company, Carl Zeiss Meditec, Valeant Pharmaceuticals International, Alcon, Inc., Human Optics AG, Lenstec, Inc., EyeKon Medical, Inc.
Product Outlook (Revenue, USD Million, 2014 - 2025)
• Monofocal IOL
• Multifocal IOL
• Toric IOL
• Accommodative IOL
End-use Outlook (Revenue, USD Million, 2014 - 2025)
• Ophthalmic Clinics
• Ambulatory Care Centers
• Eye Research Institutes
Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
Research Support Specialist, USA