The global Monofocal Intraocular Lens Market research report 2029, as published by Data bridge Market Research, provides insights into the current global outlook and key regions, examining Major Players, Countries, Product Types, and end industries. It focuses on top players in the global market and categorizes the market based on several parameters.
This Monofocal Intraocular Lens market research report identifies the competitive landscape of industries, offering a comprehensive understanding of international competition. The study outlines the anticipated growth of the global market during forecast period. Compiled with a blend of static and dynamic perspectives, this research report captures the essence of the businesses views.
Data Bridge Market Research analyses that the monofocal intraocular lens market which was USD 4.0 billion in 2021, would rocket up to USD 6.22 billion by 2029, and is expected to undergo a CAGR of 5.67% during the forecast period 2022 to 2029.
Top Companies in the Global Monofocal Intraocular Lens Market:
Valeant Pharmaceuticals International, Inc. (Canada), Novartis AG (Switzerland), STAAR Surgical (U.S.), Johnson & Johnson Private Limited (U.S.), Rayner Intraocular Lenses Limited (U.K.), OPHTEC BV (Netherlands), Carl Zeiss Meditec AG (Germany), SAV IOL SA (Switzerland), Hoya Corporation (Japan), BVI (Belgium), Oculentis (Germany), among others.
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Market Segmentation:
The monofocal intraocular lens market is segmented on the basis of type, material and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Monofocal Intraocular Lens
- Accommodative Intraocular Lens
- Multifocal Intraocular Lens
- Toric Intraocular Lens
Material
- Hydrophobic Acrylic
- Hydrophilic Acrylic
- Polymethylmethacrylate (PMMA)
- Others
End-Users
- Hospitals
- Surgical Centers
- Ambulatory Surgical Centers
- Ophthalmology Clinics
- Eye
- Research Institutes
Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
– Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
– North America (United States, Mexico & Canada)
– South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
– Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
– Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).
North America will have a dominant share in the intraocular lens (IOL) market from 2022 to 2029, due to increased prevalence of cataract disorders in the region, particularly among the elderly and middle-aged, is critical for future growth potential.
Asia-Pacific region is expected to be the fastest-growing segment during the forecast period due to the presence of a high geriatric and diabetic demographic.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Market Dynamics
Drivers
- Technological developments
A prominent trend gaining traction in the intraocular lens industry is technological developments in intraocular lenses. For instance, the first intraocular lens featuring wavefront-shaping technology, the AcrySof IQ Vivity IOL (Vivity), was commercially released in January 2022 by Alcon, a pioneer in the eye care industry. Indian ophthalmologists have access to this revolutionary lens for patients undergoing cataract surgery. The increasing frequency of cataracts and technological developments are the key factors propelling growth in the global monofocal intraocular lens market.
- Rising problems of cataract
The primary factor causing blindness is cataracts. The number of people who have cataracts will rise together with the average lifespan. The results of cataract surgery have been surprisingly good in recent years, which is propelling the monofocal intraocular lens market.
- Increasing prevalence of cataract
According to the World Health Organization, cataract is currently the primary cause of vision impairment and is a major concern on a global scale. The prevalence of cataracts has increased along with the need for intraocular lenses, which has rise globally. According to the Vision Council, in 2021, 76.2 percent of American adults underwent surgery for vision correction, and 22.1 percent of respondents said they still need it. These elements support the market's development.
Opportunities
Governments and non-governmental organisations (NGOs) are also supporting free eye exams, free surgery, and health reimbursements in a number of nations, which is advancing the sector. Also projected to contribute to market expansion is investment in research and development (R&D) to create sophisticated lenses that can help patients with both near- and far-sightedness.
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