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Intraocular Lens Market Is Expected To Increase From A Valuation Of US$ 4.1 Billion In 2022

October 27th, 2022 Fact.MR Releases

The global intraocular lenses market valued at US$ 4.1 billion in 2022 is projected to surge to US$ 6.7 billion by the end of 2032. Sales of intraocular lenses are slated to rise at a steady 5% CAGR over the next ten years.

An increasing number of cataract removal surgeries being performed across the world is anticipated to be a key driver for the global intraocular lenses market across the forecast period. Rising geriatric population, adoption of advanced ophthalmic products, high incidence of diabetes, and introduction of favorable reimbursement policies are other factors that are expected to uplift market growth.

Download Sample Copy of This Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=7753 

Key manufacturers of intraocular lenses are focusing on the expansion of their business scope to gain a competitive edge over other market players.

  • In January 2022, Rayner, a U.K.-based IOL manufacturer announced the expansion of its product portfolio. The RayOne product portfolio features RayOne Hydrophobic BLF, which is the first blue light-filtering intraocular lens made to protect the retina from harmful blue light.
  • In July 2021, Johnson & Johnson Vision, a subsidiary of Johnson & Johnson announced that it had received FDA approval for its new intraocular lenses. Tecnis Synergy and Tecnis Synergy Toric II were the two lenses that were approved by the U.S. Food and Drug Administration.

Key Takeaways from Market Study

  • At present, the global intraocular lenses market is valued at US$ 4.1 billion.
  • Sales of intraocular lenses are estimated to progress at a 5% CAGR over the next ten years.
  • Revenue from the intraocular lenses market is slated to reach US$ 6.7 billion by 2032.
  • Lack of insurance coverage for postoperative issues and the absence of proper reimbursement for premium intraocular lenses are projected to hamper market growth.
  • China, Japan, and India are anticipated to lead the demand for intraocular lenses in the Asia Pacific region owing to the high incidence of diabetes and rising number of cataract surgeries being performed.
  • Monofocal intraocular lenses accounted for nearly 50% share of the global market in 2021 and a similar trend is expected for the forecast period.

“Increasing incidence of diabetes and rising patient pool for cataracts are expected to be crucial to intraocular lenses market evolution,” says a Fact.MR analyst

Get Customization on this Report for Specific Research Solutions – https://www.factmr.com/connectus/sample?flag=RC&rep_id=7753 

Key Segments in Intraocular Lens Industry Research

  • By Type :

    • Monofocal Intraocular Lens
    • Premium Intraocular Lens
      • Multifocal Intraocular Lens
      • Toric Intraocular Lens
      • Accommodative Intraocular Lens
  • By Material :

    • Hydrophobic Acrylic
    • Hydrophilic Acrylic
    • Polymethylmethacrylate (PMMA)
    • Silicone
  • By End User :

    • Hospitals
    • Ophthalmic Clinics
    • Ambulatory Surgical Centers
    • Eye Research Institutes
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

Get Free Access of Complete Report – https://www.factmr.com/checkout/7753 

Winning Strategy

Intraocular lens manufacturers are investing in research and development of novel lenses to fast-track their launch and advance their sales potential. Suppliers of intraocular lenses are also expected to focus on the expansion of their business scope through various collaborations, partnerships, and mergers across the forecast period.

A detailed account of all market strategies adopted by key players as well as new entrants has been profiled in this latest intraocular lenses market research report by Fact.MR, a market research and competitive intelligence provider.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global intraocular lenses market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of type (monofocal intraocular lenses, premium intraocular lenses), material (hydrophobic acrylic, hydrophilic acrylic, polymethylmethacrylate (PMMA), silicone), and end user (hospitals, ophthalmic clinics, ambulatory surgical centers, eye research institutes), across six major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

Check out more related studies published by Fact.MR Research: 

Contact Lens Market – The global contact lens market size is expected to hit around US$ 16.42 billion by 2033 from valued at US$ 9.99 billion in 2023 and is poised to grow at a CAGR of 5.1% from 2023 to 2033. Contact lenses are one of the most eminent subsets of the eye care industry. The contact lens market is expanding as a result of the increasing frequency of eye conditions such as refractive errors and cataracts, which may be treated using contact lens solutions to correct vision.

Extended Wear Contact Lens Market – Increasing vision problems in younger population along with the graying population are the major factors that drive the market of extended wear contact lens market globally. People are avoiding using spectacles and shifting towards the use of contact lens in the recent years, which is expected to propel the growth of extended wear contact lens market.

Colored Contact Lenses Market – The global coloured lenses market in 2022 is valued at USD 5403.28 Million. This market is projected to grow with a CAGR of 9.92% in the forecast duration. The coloured contact lenses market is expected to surpass a valuation of USD13,913 Million by the end of 2032. The major growth in the market is likely due to a surge in eye disorders.

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