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How Will the Aphakia Market Grow Over the Forecast Period Based on Its Expected CAGR?

The market for aphakia has seen rapid expansion in the past few years. The forecast predicts that it will rise from $1.68 billion in 2024 to $1.89 billion in 2025, boasting a compound annual growth rate (CAGR) of 12.6%. The growth in the previous years can be linked to the rising incidence of cataracts, advancements in surgical techniques, growing consciousness about eye health, an increase in eye surgery numbers, and a boost in the volume of clinical trials.

Expectations are set for the aphakia market to experience substantial growth in the upcoming years, escalating to a value of $3.03 billion in 2029 with a compound annual growth rate (CAGR) of 12.4%. Factors contributing to this growth across the forecast period include the rising demand for advanced intraocular lenses (IOLs), an increase in ophthalmic surgical procedures, a higher occurrence of eye trauma, growth in medical tourism specific to eye surgeries, and an enhanced focus on personalized treatments. The forecast period is also likely to be marked by major trends such as the integration of digital technology into cataract surgery, advancements in non-invasive surgical techniques, progress in lens materials, the employment of patient-specific data analytics, and the adoption of surgeries assisted by robotics.

How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Aphakia Market?

The increasing incidence of cataracts is anticipated to drive the development of the aphakia market. Cataracts is a condition where the lens of the eye becomes cloudy, resulting in poor vision. This condition is becoming more common due to factors like growing populations, increased diabetes rates, abundant sun exposure, smoking, and inadequate nutrition. Aphakia is a result of the need to remove the natural eye lens during cataract surgery, leaving the eye without its natural lens. For example, the Well-being of Future Generations Act (WFG), a UK government agency, shared data from the 2021-2023 National UK Eye Care Statistics Survey in July 2023. According to this data, cataract admissions in 2022-2023 were around 16,500—an uptick of 23.7% from the previous year. Consequently, the growing incidence of cataracts is triggering market growth for aphakia.

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Who Are the Dominant Players Expanding Their Reach in the Aphakia Market?

Major companies operating in the aphakia market are Johnson & Johnson Services Inc., Aetna Inc., Alcon Laboratories Inc., Hoya Corporation, CooperVision Inc., Carl Zeiss AG, Santen Pharmaceutical Co. Ltd., Appasamy Associates, Aurolab, Rayner Intraocular Lenses Limited, VSY Biotechnology, Ophtec BV, SIFI SpA, Aaren Scientific Inc., Mediphacos, Hanita Lenses Ltd., Menicon Co. Ltd., Lenstec Inc., Morcher GmbH, Bausch & Lomb Incorporated, Bohus BioTech AB, Nidek Co. Ltd., Swiss Advanced Vision AG, UltraVision CLPL, Medennium Inc.

What Are the Top Trends Shaping the Evolution of the Aphakia Market?

Key players in the aphakia market are focusing on the creation of presbyopia-correcting intraocular lenses (IOL) to improve visual results and increase patient contentment. These presbyopia-correcting IOLs are used in treating aphakia by recovering vision and fixing presbyopia, facilitating clear vision at various distances without the need for additional eyewear. Notably, in November 2023, Alcon, a surgical equipment firm based in Switzerland, introduced Clareon Vivity in Canada. This is a pioneering, nondiffractive extended depth of focus (EDOF) intraocular lens (IOL), providing top-notch vision with the least visual interference. The Clareon Vivity IOL is utilized in aphakia treatments, commonly seen where the eye’s innate lens has been taken out, often during cataract surgery. The application of x-wave technology augments focus without dividing the wavefront, diminishing halos for a finely tuned visual experience. This breakthrough represents a considerable progression in the aphakia market, handing cataract patients a superior alternative for presbyopia correction.

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Which Key Segments Stand Out in Understanding the Composition of the Aphakia Market?

The aphakiamarket covered in this report is segmented –

1) By Type: Congenital Aphakia, Surgical Aphakia, Acquired Aphakia

2) By Treatment: Spectacles, Contact Lenses, Intraocular Lens Implantation, Refractive Surgery

3) By End User: Hospitals, Ophthalmic clinics, Other End Users

Subsegments:

1) By Congenital Aphakia: Primary Aphakia, Secondary Aphakia

2) By Surgical Aphakia: Post-Cataract Surgery, Post-Lens Dislocation Surgery

3) By Acquired Aphakia: Trauma-Induced Aphakia, Disease-Induced Aphakia

Which Regions Are Setting the Pace for Aphakia Market Growth?

North America was the largest region in the aphakia market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aphakia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Defines the Scope of the Aphakia Market?

Aphakia is the absence of the crystalline lens in the eye, which can lead to significant visual impairment because the lens is crucial for focusing light onto the retina. This can occur due to surgical removal of the lens (cataract surgery), trauma, or other conditions that lead to the loss of the natural lens.

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