Pune, India -- (SBWire) -- 11/29/2019 --The Infinium Global Research analyzes the "Intraocular Lens Market (Type - Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular Lens, and Other Types; End User - Hospitals, Ambulatory Surgery Centers, Eye Research Institutes, and Ophthalmology Clinics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025". The global intraocular lens market is projected to grow at a CAGR of 5.5% over the forecast period of 2019-2025.
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Increasing Demand Due to Rising Cataract Cases Globally Will Provide Better Opportunities to the Market
The intraocular lens market is expected to grow at a significant rate in the forecast period. The growing geriatric population and the increasing number of ocular conditions is one of the major factors driving the growth of the market. According to WHO the proportion of the world's population over 60 years will nearly double from 12% to 22% between 2015 and 2050 and the number of people aged 60 years and older will outnumber children younger than 5 years.
Moreover, initiatives taken by WHO and the International Agency for the Prevention of Blindness (IAPB) such as VISION 2020 The Right to Sight a global initiative for the elimination of avoidable blindness is also boosting the growth of intraocular lens market. On the other hand, the high cost associated with lens and cataract surgery can hamper the growth of the market. However, increasing demand due to rising cataract cases globally will provide better opportunities to the market.
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The Monofocal Intraocular Lens Segment Leads the Intraocular Lens Market In 2019
The intraocular lens market is segmented based on the type and end-user. Based on the type market further sub-segmented into monofocal intraocular lens, multifocal intraocular lens, toric intraocular lens, and others. The monofocal intraocular lens dominated the type segment owing to the more preference for the lens as it can be used for near focus, for mid-distance focus, and distance focus. Based on the end-user market can be divided into hospitals, ambulatory surgery centers, eye research institutes, and ophthalmology clinics. Amongst these hospitals hold the largest share of the segment.
North America Dominated the Market and Estimated To Lead the Segment in the Forecast Period
Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and RoW. North America dominated the market and estimated to lead the segment in the forecast period. Well established healthcare facilities rise in per capita expenditure on healthcare and the presence of major market players contributing to the growth of the market. Europe is anticipated to stay in the second position in the global market. Advanced healthcare facilities and rising awareness among people about ocular conditions are some factors driving the growth of the market in this region. The market in the Asia Pacific is expected to grow with a high CAGR, large patient pool, growing healthcare industries and rising awareness among the people is contributing to the growth of the market.
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Intraocular Lens Market: Competitive Analysis
Major players in the market include Bausch and Lomb, Inc., Alcon, Johnson & Johnson Vision Care, Abbott Medical Optics, HOYA Surgical Optics, Carl Zeiss Meditec AG, Oculentis, Lenstec, Inc., Omni Lens, EyeKon Medical, Inc., and others. Bausch and Lomb, Inc., Alcon and Abbott Medical Optics are the leading players in the global market.
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=> Comprehensive analysis of global as well as regional markets of the Intraocular Lens.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
