Intraocular Lens Market to Reach $6.5 Bn, Globally, by 2031 at 5.6% CAGR: Allied Market Research

News provided by

Jun 07, 2022, 09:00 ET

PORTLAND, Ore. , June 7, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Intraocular Lens Market by Type (Monofocal Intraocular Lens, Premium Intraocular Lens), by Material (Polymethylmethacrylate, Silicone, Hydrophobic and Hydrophilic Acrylic Materials), by End User (Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics, and Eye Research Institutes): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global intraocular lens market size generated $3.8 billion in 2021, and is expected to reach $6.5 billion by 2031, witnessing a CAGR of 5.6% from 2022 to 2031.

Download Sample PDF at: https://www.alliedmarketresearch.com/request-sample/2092

Drivers, Restraints, and Opportunities

Increase in prevalence of cataract surgery, surge in adoption of advanced premium intraocular lens, and development of new intraocular lens by the large number of key players drive the growth of the global intraocular lens market. However, unsupportive reimbursement scenario for premium lens and postoperative issues such as refractive errors restrain the market growth. On the other hand, technological innovations and rise in number of product approvals create new opportunities in the coming years.

Covid-19 Scenario

During the Covid-19 pandemic, patients suffering from cataract and other eye-related issues were hesitant to seek immediate care due to possibility of cross-contamination in hospitals and clinics. Many ophthalmologists had to close their practices temporarily.
The visits to eye clinics or hospitals lowered down significantly. According to the study conducted by National Center of Biotechnology Information in 2021, the patient visits to eye care hospitals reduced by 3.5% during the pandemic. This, in turn, reduced the demand for intraocular lens and impacted the intraocular lens market negatively.

The monofocal intraocular lens segment to maintain its leadership status during the forecast period

Based on type, the monofocal intraocular lens segment accounted for the highest market share in 2021, contributing to more than three-fifths of the global intraocular lens market, and is expected to maintain its leadership status during the forecast period. This type of lens is the preferred choice of numerous ophthalmologists, which, in turn, led to the dominance in terms of revenue for this segment. However, the premium intraocular lens segment is expected to witness the highest CAGR of 7.2% from 2022 to 2031, owing to their proficiency in treating patients suffering from intricate retinal issues.

Specific Requirement on COVID-19? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/2092

The hospitals segment to maintain its lead position during the forecast period

Based on end user, the hospitals segment held the highest market share in 2021, accounting for more than half of the global intraocular lens market, and is expected to maintain its lead position during the forecast period. This is due to surge in number of cataract procedures performed in inpatient settings. However, the ophthalmology clinics segment is projected to manifest the fastest CAGR of 6.8% from 2022 to 2031. This is attributed to rise in number of discrete ophthalmic clinics.

North America to maintain its dominance in terms of revenue by 2031

Based on region, North America contributed to the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global intraocular lens market, and is expected to maintain its dominance in terms of revenue by 2031. This is due to favorable reimbursement policies for cataract treatment in this region. However, Asia-Pacific is projected to manifest the fastest CAGR of 6.9% during the forecast period. This is attributed to surge in awareness regarding advanced treatment options and huge geriatric population base susceptible to cataract.

Leading Market Players

Alcon
Bausch Health, Inc.
Carl Zeiss Meditech
EyeKon Medical, Inc.
Humanoptics
Hoya Corporation
Johnson & Johnson
Lenstec, Inc.
Rayner Intraocular Lens Ltd.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter

"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

Trending Reports in Healthcare Industry (Book Now with 10% Discount):

Digital Therapeutics Market by Application (Diabetes, Obesity, Cardio Vascular Diseases (CVD), Central Nervous System (CNS) Disease, Respiratory Diseases, Smoking Cessation, Gastrointestinal Disorders, and Others), Product Type (Software, and Devices), and Sales Channel (Business-to-Business and Business-to-Consumers): Global Opportunity Analysis and Industry Forecast, 2021–2030

Cannabis Market in Medical by Product Type (Buds/Marijuana Flower and Cannabis Extracts), Application (Chronic Pain, Mental Disorders, Cancer, and Others), and End User (Pharmaceutical and Research & Development Centers): Global Opportunity Analysis and Industry Forecast, 2021–2030

Prefilled Syringes Market by Material (Glass-based and Plastic-based), Design (Single-chamber Prefilled Syringes, Dual-chamber Prefilled Syringes, and Customized Prefilled Syringes), and Therapeutic (Large Molecules and Small Molecules), and Application (Anaphylaxis, Rheumatoid Arthritis, Diabetes, and Others (Cancer, Multiple Sclerosis and Others)): Global Opportunity Analysis and Industry Forecast, 2021–2030

Pulse Oximeters Market by Type (Bedside Pulse Oximeter, Fingertip Pulse Oximeter, Hand held Pulse Oximeter, Wrist worn Pulse Oximeter, Pediatric Pulse Oximeter), by End User (Hospitals and Clinics, Ambulatory Surgical Centers, Home Environment): Global Opportunity Analysis and Industry Forecast, 2021-2031

Next Generation Sequencing (NGS) Market by Product (Consumables, Platforms, Services and Nerve Blockers), Application (Diagnostics, Biomarkers and Cancer, Reproductive Health, Personalized Medicine, Agriculture and Animal Research, and Other Applications), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Sequencing by Ligation, Pyrosequencing, Single Molecule Real Time Sequencing, and Other Technologies), and End User (Academic and Research Centers, Pharmaceutical and Biotechnology Companies, Hospitals and Clinics, and Other End Users): Global Opportunity Analysis and Industry Forecast, 2021–2030

Mass Spectrometry Market by Technology (Hybrid Mass Spectrometry [Triple Quadrapole, Quadrapole TOF, and Fourier Transform Mass Spectrometry], Single Mass Spectrometry [Ion Trap, Quadrapole, and Time-of-Flight], and Other Mass Spectrometry) and Application (Pharmaceutical, Biotechnology, Security, Industrial Chemistry, Environmental Testing, Food & Beverage Testing, Forensic, Clinical and Other Applications): Global Opportunity Analysis and Industry Forecast, 2021–2030

Disposable Gloves Market by Type (Natural Rubber Gloves, Nitrile Gloves, Vinyl Gloves, Neoprene, Polyethylene, and Others), Application (Medical and Non-Medical) and Form (Powdered and Non-Powdered): Global Opportunity Analysis and Industry Forecast, 2019–2030

Clinical Trial Management Market by Type (Enterprise-Based and Site-Based), Delivery Mode (Web-Based, On-Premise, and Cloud-Based), Component (Software and Services), and End User (Pharmaceutical & Biopharmaceutical Companies, Clinical Research Organizations, and Healthcare Providers): Global Opportunity Analysis and Industry Forecast, 2021–2030

Orthodontics Market by Age Group (Adults and Children), and Type (Brackets, Anchorage Appliances, Ligatures and Archwires): Global Opportunity Analysis and Industry Forecast, 2021–2030

Telemedicine market by Application (Teleradiology, Telepsychiatry, Telepathology, Teledermatology, Telecardiology and Other Applications), Component (Software, Hardware and Services), and End User (Healthcare Providers, Payers, Healthcare Consumers and Other End Users): Global Opportunity Analysis and Industry Forecast, 2021–2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/