Global Intraocular Lens Market to Rise at a CAGR of 4.81% between 2019 to 2027
“According to a new market research report published by Inkwood Research, the Global Intraocular Lens Market is projected to rise at a CAGR of 18.68% throughout the forecasting years of 2019-2027.”
“Browse 20 market Data Tables and 40 Figures spread over 100 Pages, along with an in-depth TOC on Global Intraocular Lens Market Forecast 2019-2027.”
The intraocular lenses(IOLs) are used in the process of refractive lens exchange for vision correction. They are synthetic lens implanted as a replacement to the natural lens. It might require the use of glasses after surgery, depending upon the power of the lens. Various types of IOLs are available in the market, but the most common are mono-focal, multifocal, accommodative and toric IOLs. Intraocular lenses are used in conditions like cataract and myopia. The foldable IOLs has seen high demand in recent times, especially for micro-incision cataract surgery. Single piece IOLs are used in modern cataract, and three-piece IOLs are used in sulcus implantations and for infants.
Minimally Invasive Procedures Steers the Demand for Intraocular Lens Market
The demand for procedures that are less invasive in treating a cataract has been rising. The advanced femtosecond laser with the use of handheld surgical tools increases the accuracy, safety level, predictability, correctness, reproducibility at every step. It further improves the visual results of the surgery. In these procedures, the laser can create a 3D image of the eye during corneal incision, with the help of this image, the incision can be made at the precise location. It increases the accuracy an reduces the risk of infection due to its ability to recover fast. Capsulotomy that is performed along with femtosecond during the cataract surgery provides higher accuracy and reproducibility. Positioning is an important factor in shaping the final results of the surgery, and laser capsulotomies help in placing the lens better. The usage of laser techniques in cataract surgery is more reliable and safer than the techniques that were used previously.
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Hydrophobic Acrylic is the Most Prevalent Material Used in Intraocular Lens Market
Hydrophobic acrylic is a material that is widely used in foldable lenses. Due to its foldable properties, it is easy to implant. It also has low water content and is high on the refractive index, which makes it suitable for small filaments that hold the lens of a monobloc open-loop IOL. It may change the intraventricular, which can result in visual complications. The changes in intraventricular are due to the high refractive index of the lens.
North America Accounts the Largest Share in Global Intraocular Lens Market
In recent times, North America has seen a rise in the cases of ocular diseases in older adults. The chances of blindness, vision impairment, and related issues are rapidly going to increase in the region. The potential of North America ophthalmic drug market is hampered by the factors like market saturation, high competition, economic slowdown, etc. the desk-bound life is further leading to an increase in the number of diseases like diabetes and obesity. With the rise in the number of diseases, the risk of visual impairment rises, leading to demand effective surgeries in this region.
Some of the prime companies, including Abbott Medical Optics, Alcon, Carl Zeiss AG, PFIZER, etc. operating in the market are also influencing the intraocular lens market globally. These players are actively participating by adopting a strategic approach, including expansion in geographical presence and product portfolio, contributing to the market revenue.
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