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(Health-NewsWire.Net, April 21, 2020 ) Market Overview
• Global Intra ocular lens Market is expected to grow at a CAGR of 7.90% during the forecasting period (2019-2026).
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Market Dynamics
• Increasing incidence of cataract, increase in the prevalence of diabetes, innovations in treatment procedures etc., is driving the growth of global Intra Ocular Lens (IOL) market. However, high cost and risks involved due to the sensitivity of the organ in the product are likely to hinder the growth of the global IOL market.
Market Segmentation
• The market is segmented by Type, Material Type, and End Users. By Type, the market is segmented as Accommodative, Monofocal, Multifocal, Toric, and Others. Accommodative IOLs are most preferred across the globe.
• Usage in presbyopia and astigmatism treatments and user-friendly nature are driving the growth of this segment. By Material type, the market is segmented as Hydrophobic Acrylic, Polymethyl Methacrylate, Silicone, and Others. Eye Research Centers, Ophthalmic clinics, and hospitals are the major end users of this market.
Geographical Analysis
• The report segments the geographies by regions, which include North America, South America, Europe, Asia Pacific and RoW.
• North America is leading the global IOL market, with the majority of the contribution from the US. Growing incidence of ophthalmic and cataract diseases, Supportive government regulations are fuelling the demand in this region.
• In addition, the Asia Pacific region is expected to grow at a faster rate. Increasing diabetic cases and advancement in eye care treatments are favoring the growth in this region.
Key Highlights
• Dexycu, a dexamethasone intraocular suspension by Icon Bioscience Inc, is approved by FDA. It helps in avoiding noncompliance and dosing errors. Such new and advanced products are likely to favor the global IOL market.
• AD-IOL, a dual-mode, accommodating-disaccommodating lens, was invented by Z Lens LLC. Such new innovations in the market are fueling the growth.
• Toric, presbyopia-correcting IOLs are considered as a better option for glaucoma patients, thereby increasing the demand for these products globally.
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