Intraocular Lens Market
The global intraocular lens market is estimated to be valued at USD 5,757.1 Mn in 2024 and is expected to exhibit a CAGR of 7.5% during the forecast period (2024-2031). The global intraocular lens market has been witnessing significant growth over the past few years owing to the rising prevalence of cataract and other eye diseases across the world. An intraocular lens is an artificial lens that replaces the eye's natural crystalline lens after the latter is surgically removed from its original position. The increasing adoption of minimally invasive ophthalmic surgeries along with technological advancements in intraocular lens design and materials are expected to drive the demand for intraocular lens in the coming years. The growing geriatric population worldwide which is highly susceptible to age-related vision impairment is another major factor contributing to the growth of this market. However, fluctuating reimbursement policies and the high cost of premium IOLs may hamper the market expansion to some extent.
Market Dynamics:
The global intraocular lens market is driven by various factors such as rising incidence of cataract globally owing to the rapidly aging population, increasing healthcare expenditure, and growing awareness regarding the availability of various IOL options. According to World Health Organization, cataract is the leading cause of blindness worldwide and the number of people affected is projected to reach 30 million by 2020. Moreover, the increasing adoption of minimally invasive phacoemulsification surgeries and technological advancements in IOL materials and design are fueling the demand. However, high costs associated with premium IOLs and inconsistent reimbursement policies across countries can restrain the market growth. On the other hand, emerging economies offer lucrative opportunities for market players owing to growing medical tourism and increasing healthcare spending.
Key Features of the Study:
Detailed Segmentation-
Table of Contents
*Browse 42 market data tables and 37 figures on "Intraocular Lens Market” - Global forecast to 2031
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