Intraocular lenses (IOL) are the medical devices implanted inside the eye to replace the natural eye lens; to treat cataract or refractive errors. Monofocal IOLs are standard lenses used in cataract surgery. They are primarily performed on older people that are already entirely presbyopic. Monofocal IOL is an intraocular lens with a fixed focus for one distance. They can be selected for near, moderate distance, or distant focus, but only one of these three can be chosen. It focuses light that comes into your eye (like your own natural lens) through your cornea and pupil and onto your retina. Monofocal intraocular lens is constructed of silicone or acrylic and coated with a material to protect your eyes from UV rays.
MARKET DYNAMICS
The monofocal intraocular lens market has shown a significant evolution over the forecast period. The key driving factors include the rapid growth in the geriatric population and associated eye disorders and the increasing prevalence of eye diseases & diabetes in the overall population globally. The increase in the majority of cataracts has increased the demand for intraocular lenses globally. In 2015, according to the Vision Council, around 76.2% of adults in the U.S. underwent vision correction surgery, and about 22.1% of the adults expressed that they need vision correction. Moreover, the rising rate of diabetic retinopathy is creating lucrative opportunities for the development of the market. As per the National Eye Institute, the United States recorded 7.7 million diabetic retinopathy cases and 24 million cataract cases, and it is expected to reach 11.3 million and 38 million, respectively, by 2030. Various government initiatives and awareness programs to eliminate avoidable blindness are together likely to propel the demand for a monofocal intraocular lens. For instance, in 2011, Lions Clubs International Foundation (LCIF), in partnership with the People's Republic of China, initiated a new phase of their campaign in China known as SightFirst China Action (SFCA), which aims at preventing blindness. However, unfavorable reimbursement scenario for premium lens and postoperative complications such as refractive errors are expected to impede the monofocal intraocular lens market growth.
MARKET SCOPE
The "Monofocal Intraocular Lens Market Analysis to 2028" is a specialized and in-depth study of the medical device in the healthcare industry, focusing on the global market trend analysis. This report provides an outline of the monofocal intraocular lens market with detailed market segmentation by product, material, and end-user. The monofocal intraocular lens market is expected to witness high growth during the forecast period. The report focuses on the vital statistics on the market status of the leading players in the monofocal intraocular lens market and offers key trends and opportunities.
MARKET SEGMENTATION
The market is segmented based on the product, material, and end-user. Based on the product, the market is categorized as spherical and aspherical. Based on the material, the market is segmented as polymethylmethacrylate (PMMA), silicone, hydrophobic acrylic, and others. Based on the end-user, the market is segmented as hospitals, ophthalmology clinics, ambulatory surgical centers, and others.
REGIONAL FRAMEWORK
The report lays out a comprehensive outline of the industry, including both quantitative and qualitative information. The report gives a sketch and forecast of the monofocal intraocular lens market based on various segments. It also comprises of market size and forecast estimates from the year 2020 to2028 concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The market by each region is then subdivided into respective countries and segments. The report comprises the analysis and forecast of eighteen countries globally and the recent trend and opportunities prevailing in the region.
The report analyzes factors affecting the monofocal intraocular lens market from both the demand and supply side. Moreover, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends.
The report also consists of precise PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South & Central America, after evaluating political, economic, social, and technological factors affecting the monofocal intraocular lens market in these regions.
MARKET PLAYERS
The report contains critical developments in the monofocal intraocular lens market as organic and inorganic growth strategies. Multiple enterprises focus on organic growth strategies like product approvals, product launches, and others, such as patents and events. Inorganic growth strategies observed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the monofocal intraocular lens market are anticipated to have profitable growth opportunities in the coming years with the rising demand for the monofocal intraocular lens market in the global market. Given below is the list of few companies engaged in the monofocal intraocular lens market.
The report also provides the profiles of the primary players in the monofocal intraocular lens market, along with their SWOT analysis and market strategies. Additionally, the report elaborates on leading industry players with information on company profiles, components, and services provided, financial information of the last three years, critical development in the past five years.
- Alcon Vision LLC
- HumanOptics AG
- Johnson & Johnson Vision Care, Inc.
- HOYA Surgical Optics GmbH
- Carl Zeiss Meditec AG
- Bausch + Lomb
- Ophtec BV
- Lenstec, Inc.
- Rayner Intraocular Lenses Limited.
- SIFI S.p.A
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