2024-2033 Global Intraocular Lens Market Outlook: Projected Size and Growth Rate
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Intraocular Lens Market Growth Forecast 2024-2033: What’s the Expected Rate?
In recent years, there has been a brisk expansion of the intraocular lens market. The market value is projected to increase from $4.93 billion in 2023 to $5.43 billion in 2024, with a compound annual growth rate (CAGR) of 10.1%. Patient contentment, escalating outpatient cataract surgeries, the development of phacoemulsification technology, advancements in surgical techniques, and the shift towards foldable materials have all played contributing roles to the historical growth of this market.
Predictions show a robust expansion in the size of the intraocular lens market in the upcoming years. The market is projected to surge to $7.94 billion in 2028, with a compound annual growth rate (CAGR) of 10.0%. Factors contributing to this expansion in the predicted period include the emphasis on emerging markets, a rising aging population, increasing rates of cataract surgery, demand for high-quality Intraocular Lenses (IOLs), and a transition to outpatient procedures. Key trends to expect throughout this forecasting period include an upturn in cataract surgeries, a move towards less invasive surgery, a demand for improved visual results, regulatory alterations and approvals, and the evolution of surgical techniques.
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What Factors Are Impacting the Growth of the intraocular lens Market?
The intraocular lens market’s growth is being driven by the intensifying prevalence of eye conditions. Such conditions, including macular degeneration, glaucoma, and cataracts, can lead to issues with vision. An intraocular lens, an artificial component tied to the eye, replaces the natural eye lenses that are taken out during cataract surgery. As per the Association of British Dispensing Opticians’ data from October 2022, more than two million people are at high risk of visual degeneration due to glaucoma; approximately 1,390,000 individuals have ocular hypertension, while around 708,000 are living with glaucoma. The escalating prevalence of these eye conditions is propelling the intraocular lens market.
What Are the Fundamental Segments in the Intraocular Lens Market?
1) By Type: Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric intraocular lens, Accommodating Intraocular Lens
2) By Material: Polymethylmethacrylate (PMMA), Silicone, Hydrophobic Acrylic
3) By End User: Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics, Eye Research Institutes
What Trends Are Shaping the New Direction of the Intraocular Lens Market?
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Which Regions Are Making a Mark in the Intraocular Lens Market Growth?
North America was the largest region in the intraocular lens market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intraocular lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Intraocular Lens Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the intraocular lens market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Intraocular Lens Market Include
1. Intraocular Lens Market Executive Summary
2. Intraocular Lens Market Segments
3. Intraocular Lens Market Size And Template Market Growth Rate
4. Key Intraocular Lens Market Trends
5. Major Intraocular Lens Market Drivers
……
25. Key Mergers And Acquisitions In The Intraocular Lens Market
26. Top Intraocular Lens Companies
27. Intraocular Lens Market Opportunities And Strategies
28. Intraocular Lens Market, Conclusions And Recommendations
29. Appendix
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