Intraocular Lens Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 -2029

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Intraocular Lens Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 -2029

Status : August, 2020 | Medical Devices | PPT format

Report Digest

Global Intraocular Lens Market – Overview

The global intraocular lens market is expected to be on course to achieve considerable growth in the coming years of the forecast period. Intraocular lens is a kind of an artificial lens that is implanted in the eye of a patient as a replacement for their natural lens. In recent years, due to growing geriatric population, there has been substantial growth opportunities for the development of the global market.

Global Intraocular Lens Market – Notable Developments

The global market for intraocular lens has a fragmented competitive landscape. The companies in the market are trying to develop more effective products that will cater to the growing demand from the consumers. The companies are also getting help from government, NGOs, and healthcare authorities in order to spread awareness about the benefits of ocular lenses.

  • In 2011, Lions Club International Foundation in association with People’s Republic of China announced the launch of a new phase of their healthcare campaign in China called as SightFirst China Action that aims at cutting down the rates of blindness.

Some of the key companies in the market are

  • Johnson & Johnson
  • Carl Zeiss Meditech AG
  • Rayner
  • EyeKon Medical Inc.
  • Human Optics AG

Global Intraocular Lens Market – Drivers and Restraints

There are variety of factors that are influencing the overall development of the global intraocular lens market. One of the major driving factors for the market development has been the growth in geriatric population across key regions such as Japan, North America, and some parts of Europe. Increasing geriatric population majorly corresponds to ailments such as cataract, sore eye, and myopia among others. Moreover, growing geriatric ocular issues is also a key factor that has been driving the growth of the global market.

Another important driving factor for the growth of the global market for intraocular lens is the increasing prevalence of diabetes. Diabetes is among the leading causes to lead to eye sight and ocular problems. Thus, rising diabetic prevalence is expected to create lucrative business opportunities for the development of the global market.

There are however, some factors that might prevent the global intraocular lens market reaching its full potential. One of the key restraining factors for the market growth is lack of favorable reimbursement policies for use of premium intraocular lens. Moreover, there have been some cases which showed postoperative complications. This too might lead to slowing down of the global market.

Global Intraocular Lens Market – Geographical Outlook

The global market for intraocular lens has five key regions that divide it in terms of geography. These regions are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Of these, currently, the global market is expected to be led by the regional segment of Asia Pacific. The market is expected to show highest growth rate in terms of revenue. India and China in particular are projected to witness tremendous development in the next few years. Some of the key factors in the development of the regional growth are integration of eye care in the social security systems, a recent rise in the number of geriatric population, increasing estimations and cases of diabetic patients, and growing cases of cataract.

There are some other factors that are also helping the growth of the regional market. Growth in terms of medical tourism and increasing patient pool has massively helped in the development of intraocular lens market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.