In-Depth Exploration of the Phakic Intraocular Lenses (IOL) Market: Enriching Industry Understanding, Envisioning Trends, Evaluating Growth Catalysts, and Forecasting Advancements from 2023 to 2031.
Report Ocean has recently released a comprehensive research report on the global Phakic Intraocular Lenses (IOL) Market. The report offers a detailed analysis of various market characteristics, such as size, growth, segmentation, regional and country breakdowns, competitive environment, market shares, trends, and strategies. It also provides insights into the impact of the COVID-19 pandemic on the market.
What is the value of the Global Phakic Intraocular Lenses (IOL) Market?
Global Phakic Intraocular Lenses (IOL) Market is valued approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2028.
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What are Phakic Intraocular Lenses (IOL) and their primary function?
The Phakic Intraocular Lenses (IOL) also known as phakic lenses, are lenses made of plastic or silicone that are implanted into the eye permanently to reduce a person’s need for glasses and contact lenses. Phakic lenses are utilized to correct refractive errors, errors in the eye’s focusing power. All phakic lenses approved by the FDA are for the correction of nearsightedness (myopia). The growing prevalence of myopia and increasing awareness towards Phakic Lens Implant Surgery as well as strategic initiatives from leading market players are factors that are accelerating the global market demand. For instance, according to International Myopia Institute estimates – as of 2021, around 30% of global population is myopic and this number is projected to grow to 50% by 2050. Further, there would be around 1 billion high myopes by 2050. Countries such as South Korea, Taiwan, Singapore, China and Japan have a prevalence of myopia of 80 to 90 %.
Furthermore, leading market players are working towards strategic initiatives including product approvals and new product launches to capitalize the growing demand for Phakic Intraocular Lenses. For instance, in December 2019, Johnson & Johnson Vision*, received the Food and Drug Administration (FDA) approval for U.S. launch of its new product TECNIS Toric II 1-Piece Intraocular Lens (IOL). Moreover, in January 2021, Alcon unveiled its new AcrySof IQ Vivity IOL in the United States. This new intraocular lens is intended for patients undergoing cataract surgery. This new product is a first-of-its-kind, non-diffractive extended depth of focus IOL. Also, growing healthcare sector in emerging economies coupled with rising per capita healthcare spending are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, a lack of reimbursements for implantation procedures and availability of alternative treatment option impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Phakic Intraocular Lenses (IOL) Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing number of product clearance and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of healthcare sector and increasing incidences of myopia in the region, would create lucrative growth prospects for the global Phakic Intraocular Lenses (IOL) Market across the Asia Pacific.
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Major market players included in this report are:
- Rayner Surgical Group Limited
- Care Group
- Ophtec BV/Abbott
- Johnson & Johnson
- Staar Surgical
- USIOL Inc.
- Omni Lens Pvt Ltd
- Zeiss
- Aurolab
- HOYA Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Posterior Chamber Phakic IOL
Anterior Chamber Phakic IOL
By Indication:
Myopia
Hyperopia
Astigmatism
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By End User:
Hospitals
Ophthalmology Clinics
Ambulatory Surgical Centers
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Phakic Intraocular Lenses (IOL) market, including:
- What can be expected for the Phakic Intraocular Lenses (IOL) market in the next decade?
- What are the primary drivers of growth in the global Phakic Intraocular Lenses (IOL) market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Phakic Intraocular Lenses (IOL) market vary based on the size of the end market?
- What is the breakdown of Phakic Intraocular Lenses (IOL) by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Phakic Intraocular Lenses (IOL) market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Phakic Intraocular Lenses (IOL) Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Phakic Intraocular Lenses (IOL) Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Phakic Intraocular Lenses (IOL) Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Phakic Intraocular Lenses (IOL) Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Phakic Intraocular Lenses (IOL) Market.
Our Phakic Intraocular Lenses (IOL) Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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