Market Scenario
Aphakia is the absence or dislocation of lenses. Increasing prevalence of diabetes & other diseases, rising demand for the better treatment, and increasing number of ophthalmic surgeries drives the growth of the market. According to World Health Organization, in 2014, 285 million people were visually impaired across the globe and about 24.4 million American aged over 40 and half of the people who are over 75 have cataracts problem. Furthermore, in 2014, glaucoma affected over 2.7 million Americans of age 40 and older. Changing lifestyle and increasing geriatric population have increased the probability of causing aphakia. Additionally, increasing need for the cost-effective treatment and increasing per capita income have fuelled the market growth. However, limited treatment options and high cost of the surgery may affect the growth of the market over the assessment period, negatively.
The Global Aphakia Market is expected to grow at a CAGR of ~ 9.2% during the forecast period 2017-2023.
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Segmentations
The global aphakia market has been segmented on the basis of types, causes, treatment, and end user.
On the basis of type, the market is segmented into primary, and secondary.
On the basis of cause, the market is categorized into congenital aphakia, surgical aphakia, acquired aphakia, and others. Acquired aphakia is further segmented into traumatic extrusion, posterior dislocation, couching, and other.
On the basis of treatment, the market is segmented into spectacles, contact lenses, intraocular lens implantation, refractive surgery, and others. The spectacles are sub-segmented into +10D, +3-4D, and other. Refractive surgery is further segmented into keratophakia, epikeratophakia, and hyperopic LASIK.
On the basis of end user, the market is segmented into hospitals, ophthalmic clinics, and others.
Key Players
- Johnson & Johnson Services, Inc. (US),
- Ophtec BV (Netherland),
- Alcon Laboratories, Inc. (Switzerland),
- Bausch & Lomb (US),
- Carl Zeiss AG (Germany),
- Rayner Company (US),
- Bohus BioTech AB (Sweden),
- CooperVision, Inc. (US),
- Lifecore Biomedical, LLC (US),
- Aetna Inc. (US),
- Ciba Vision (Switzerland),
- Menicon (Singapore).
Regional Analysis
The Worldwide Aphakia Market is segmented on the basis of types, causes, treatment, and end user. On the basis of type, the market is segmented into primary and secondary. On the basis of cause, the market is categorized into congenital aphakia, surgical aphakia, acquired aphakia and others. The acquired aphakia is further segmented into traumatic extrusion, posterior dislocation, couching, and other. Aphakia is the absence or dislocation of lenses.
The Americas dominates the global aphakia market owing to the increasing prevalence of people with aphakia. It was estimated that 6.1 million (5.1%) of Americans have pseudophakia/aphakia. Additionally, well-developed technology, huge diabetic population, and strong government support for research & development will fuel the market growth.
Europe is the second leading market across the globe, which is followed by Asia Pacific. Availability of funds for research, huge geriatric population and government support for research & development will drive the market.
Asia Pacific is the fastest growing aphakia market due to the presence of rapidly growing economy, huge patient pool, increasing prevalence of ophthalmic diseases, and presence of huge geriatric population.
On the other hand, the Middle East & Africa holds the least share of the market owing to less availability of funds, limited availability of medical facilities, and poor political conditions in Africa.
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