Albany, NY -- (SBWIRE) -- 04/08/2021 -- The global intraocular lens market is likely to witness high growth opportunities birthing with the rise in prevalence of cataract all across the world. An intraocular lens replaces the natural lens for better focusing power. The normal lens is extracted out by surgery. Rise in diabetic population. Diabetic patients are more prone to fall for cataract, thus as a result leads to loss or poor vision. This has significantly helped the market to grow. Other factor which is helping the market growth subordinately is the eye related issue due various age. There are rapid technological advancement which is catapulting the market to a tremendous growth.
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Global Intraocular Lens Market Witness Most Promising Rise in Demand:
The global intraocular lens market has been segmented on the basis of product type, and end users. On the basis of product type, the global intraocular lens market is categorized as monofocal IOL, multifocal IOL, toric IOL, accommodative IOL, and other IOL's. Furthermore, on the basis of end users, the global intraocular lens market has been classified as hospitals, ophthalmology clinics, ambulatory surgery centers, and eye research institutes. The market for these product types, and end users has been extensively analyzed on the basis of factors such as usage pattern, sales revenue, geographic presence and technological developments. The market size and forecast in terms of revenue (USD million) for each of these segments have been provided for the period 2014 to 2024, considering 2016 as the base year. The report also provides the compounded annual growth rate (CAGR) for each segment for the forecast period 2017 to 2024.
According to analysts from Transparency Market Research, the global intraocular lens market is likely to rise at a healthy CAGR of 5.20% during the assessed period 2017-2024. Recently the market was valued at US$3553.4 mn and is predicted to hit US$5069.5 mn by the end of the forecast period.
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The report includes an elaborate executive summary, along with a snapshot of the growth behaviorof various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global Intraocular Lens market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global Intraocular Lens market.
Key Players of Global Intraocular Lens Market:
Major players in the market are Bausch & Lomb, Inc, Alcon, Johnson & Johnson Vision Care, Abbott Medical Optics, and Hoya Corporation.
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