Increased Consumption of intraocular lenses is largely supported by the surging cases of cataract, being the major cause of blindness coupled with the increased government spending towards the cause globally
Date: 10 December 2015
According to recently published Azoth Analytics report “Global Intraocular Lens (IOL) Market: Trends, Opportunities and Forecasts (2015-2020F) - (By Type – Standard and Premium, Value and Volume - By Region, By Country, Key Players – Strategy, Financial Performance)”, global intraocular lens market is forecast to grow at a CAGR of more than 8% during 2015 – 2020F, on account of rising cataract cases across the globe coupled by increase in the government investment in the Healthcare sector highly focusing on the eye problems. When cataract forms in the eye, the vision is disturbed, leading to blindness, for which the natural lens are to be replaced with the intraocular lens, thereby, clearing the vision. According to the WHO estimates that as of 2015, nearly 19 million people are blinded through cataract in the world. Aged population is the most vulnerable since cataract tends to form in the process of ageing and if left un-treated, can result into total blindness as a consequence.
As more and more people are undergoing cataract surgeries, the need for intraocular lens is growing constantly. Developed regions like Americas, holds the largest market share in value terms due to highest usage of premium lenses in the region. High premium lens utilisation is supported by higher standard of living and investments in technological improved intraocular lenses that not only solve the purpose of cataract treatment but also treats other eye diseases like astigmatism, presbyopia and myopia with a single lens. Emerging markets like Asia Pacific are growing in terms of the volume market by meeting the highest demand of the number of cataract surgeries across the globe.
The report “Global Intraocular Lens (IOL) Market: Trends, Opportunities and Forecasts (2015-2020F) - (By Type – Standard and Premium, Value and Volume - By Region, By Country, Key Players – Strategy, Financial Performance)” has analysed the potential of global intraocular lens market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with major drivers, challenges and opportunities in the Global Intraocular Lens market. Additionally, the report also highlights market entry strategies for various companies across the globe.