Intraocular Lens Market Report, published by Allied Market Research, forecasts that the global market was valued at $3,306 million in 2015 and is expected to garner $4,973 million by 2022, registering a CAGR of 5.9% during the forecast period 2016 – 2022. Monofocal intraocular lens segment held more than four-fifths share of the total market in 2015.
Advent of premium IOLs such as multifocal, toric, and accommodating IOLs and rise in incidence of cataract are the key factors that drive the market growth. In addition, rise in geriatric population and proactive initiatives taken by government to eliminate avoidable blindness are anticipated to fuel the demand for IOLs globally. However, postoperative complications such as refractive errors and unfavorable reimbursement scenario for premium intraocular lens restrict the market growth.
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Silicone generated the maximum revenue, accounting for more than half of the global intraocular lens market in 2015. However, hydrophobic acrylic segment is estimated to exhibit the highest growth rate of 7.1% during the forecast period.
COVID-19 Impact Analysis:
1) The COVID-19 impact on the Intraocular Lens Market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.
3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.
4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.
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Key Benefits for Stakeholders
- This report entails a detailed quantitative analysis along with the current global Intraocular Lens Market trends from 2016 to 2023 to identify the prevailing opportunities along with the strategic assessment.
- The Intraocular Lens Market forecast is studied from 2016 to 2023.
- The Intraocular Lens Market size and estimations are based on a comprehensive analysis of key developments in the endoscopic retrograde cholangiopancreatography industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the Intraocular Lens Market.
- Monofocal Intraocular Lens
- Premium Intraocular Lens
- Toric Intraocular Lens
- Multifocal Intraocular Lens
- Accommodating Intraocular Lens
- Blue Light Filtering Intraocular Lens
- Phakic Intraocular Lens
- Aspheric Intraocular Lens
🎅🎄(𝑪𝒉𝒓𝒊𝒔𝒕𝒎𝒂𝒔 𝒂𝒏𝒅 𝑵𝒆𝒘 𝒚𝒆𝒂𝒓 𝒔𝒂𝒍𝒆 𝑼𝒑 𝒕𝒐 25% 𝒅𝒊𝒔𝒄𝒐𝒖𝒏𝒕 𝙩𝒊𝒍𝒍 15 𝑱𝒂𝒏𝒖𝒂𝒓𝒚 2022)🎄🎅
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