Rising cases of eye diseases associated with blindness such as cataracts and macular degeneration to boost the demand for artificial eye lenses market
Rising cases of eye diseases associated with blindness such as cataracts and macular degeneration to boost the demand for artificial eye lenses market
Fact.MR, Rockville MD: Fact.MR’s latest report on global artificial eye lenses market projects a steady growth in 2021, owing to rising cases of diabetes and cataract, opines a new study by consulting firm Fact.MR. According to the study, growing eye diseases and heightened demand of monofocal lenses is driving the growth of artificial eye lenses market.
Underpinned by factors such as rising number of geriatric population undergoing cataract surgeries, vision correction surgery and high prevalence of diabetes mellitus is further advancing the sales of artificial eye lenses. Increasing ageing population with high metabolic disorder is the key driver for the growth of the market.
Furthermore, a recently initiated clinical study in 2019 by World Health Organization, cataract is the leading cause of blindness and eye surgeries, for approximately 47.8% of the overall global blindness burden can be attributed to cataract and around 17.7 million people from across the globe were diagnosed for cataract. Acknowledging this burden, regulatory authorities has increased the awareness by initiating funding for the eye foundation organization, thus stimulating the growth.
“Family history and congenital cases associated with the eye disorder and cataract is stimulating the growth of artificial eye lenses market, also leading players are focusing on developing the lenses with less side-effects and higher precision, thus aiding the sales,” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Artificial Eye Lenses Market Study
- U.S. expected to lead the North American market through 2029
- By material, non-reactive material is poised to prevail over other domains
- Hospital and eye research institutions expected to dominate the end-user segment
- By product type, monofocal silicone segment is anticipated to be one of the most lucrative segment
- Rising cases of diabetes and high prevalence of eye diseases in China to lead the artificial eye lenses market
Prominent Drivers
- Increasing cases of eye disease such as cataracts, and macular degeneration, provide a high pedestal for artificial eye lenses Market
- Government initiatives and awareness to treat blindness expected to bolster the market growth
Artificial Eye Lenses Market- Key Restraints
- Lack of proper coverage and high cost policies for the treatment, restraining growth
Discover more about the artificial eye lenses market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/4722/artificial-eye-lenses-market
Competitive Landscape
Key Artificial Eye Lenses Market players profiled by Fact.MR include Alcon Inc., Eyekon Medical Inc., Lenstec Inc., HumanOptics AG, HOYA GROUP, Rayner Intraocular Lenses Limited, Bausch + Lomb, Human Optics, PhysIOL, Swiss Advanced Vision, Omni Lens Pvt Ltd., and Care Group among others. According to the Fact.MR study, the global market is consolidated but the competition between several big and small players is highly anticipated.
For instance, Alcon launched AcrySof IQ PanOptix Trifocal IOL, in 2019, the first and only FDA-approved trifocal lens for the patients undergoing cataract surgery.
Likewise, in August 2020, Johnson & Johnson launched TECNIS Synergy and TECNIS eyhance intraocular lenses for the treatment of cataracts in Canada and Europe.
More Insights on the Artificial Eye Lenses Market
Fact.MR provides a detailed market study on the global artificial eye lenses. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product (monofocal artificial lens, premium artificial lens, blue light filtering artificial lens, phakic artificial lens, and aspheric artificial lens), material (poly (methyl methacrylate) PMMA, silicone, and acrylic), end user (hospitals, ambulatory surgical centers, ophthalmic clinics, and eye research institutions), and regions (North America, Latin America, South Asia, East Asia, Oceania and Middle East & Africa)
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Source: Fact.MR