Global Intraocular Lens (IOLs) Market 2017-2021
About Intraocular Lens (IOLs)
IOLs are used for vision correction and the process is known as refractive lens exchange. IOL is a synthetic artificial lens. The lens is implanted to replace the eyes' natural lens. Glasses may be required after surgery for reading and short or long distance sight depending on the power of lens used. Several types of IOLs are available in the market and can be differentiated into four major segments: monofocal IOLs, multifocal IOLs, toric IOLs, and accommodative IOLs. The US FDA had approved IOLs for implantation. The ideal IOLs tend to provide benefit to the surgeon as well as the individual. The surgeon looks for ease of implantation and lack of intraoperative complications, the individual asks for better vision and refractive stability. Foldable IOLs are preferred in recent times.
Technavio’s analysts forecast the global Intraocular Lens (IOLs) market to grow at a CAGR of 4.42 % during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global intraocular lens (IOLs) market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of IOLs.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intraocular Lens (IOLs) Market 2017-2021
Technavio recognizes the following companies as the key players in the global intraocular lens (IOLs) market: Alcon, Bausch & Lomb, Carl Zeiss, and Johnson & Johnson (Abbott Medical Optics).
Other Prominent Vendors in the market are: HOYA Surgical Optics, Oculentis, Ophtec, Rayner, and STAAR Surgical.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is shift toward ASCs for eye care. The minor surgeries can be performed in ASCs. The surgeries performed in the ASCs are cost-effective. ASCs are rapidly growing and are highly accepted among people for minor operations. The surgery procedures in ASCs have been increasing after the US introduced the ASC Access Act. In 2012, around 80% individuals opted for ASCs for cataract operations. The hospitals are also promoting ASCs as the return on investment is high.”
According to the report, one of the major drivers for this market is rise in prevalence of cataract. Cataract is caused by advancing age, ultraviolet radiation, diabetes, smoking, and hypertension. Cataracts are of several types, and they are classified by how they develop and where they develop. Cataract can be diagnosed after a comprehensive examination of the eye. Surgery is recommended for the cataract if it interferes in performing the daily activities.
Further, the report states that one of the major factors hindering the growth of this market is post-surgery complications. Some individuals have reported a few complications after cataract surgery, which could lead to partial loss of vision or require further surgery. Complications can increase in individuals who have other eye disorders in addition to cataract. The risk with cataract surgery is low: however, these risks can be managed effectively with antibiotics.
Alcon, Bausch & Lomb, Carl Zeiss, and Johnson & Johnson (Abbott Medical Optics).
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