Increase in number of cataract surgeries and high healthcare investments is expected to drive the United States intraocular lens (IOLs) market for the forecast period.
According to TechSci Research report, “United States Intraocular Lens (IOLs) Market By Type (Monofocal IOLs, Premium IOLs, Others) By Material (Hydrophobic/ Hydrophilic Acrylic IOLs, Silicone, PMMA) By End User (Hospitals & Clinics, Ambulatory Care Centers, Others) By Company, By Region, Forecast & Opportunities, 2026”, the United States intraocular lens (IOLs) market is expected to witness significant growth in the next five years. Intraocular lens is a type of prosthetic lens and are used in cataract surgery. Rise in demand for procedure known as refraction lens exchange in which lens is placed over the natural lens before the development of cataract. Concentric rings are etched over the surface of intraocular lens which allows images to focus sharply over the retina from a variety of distances. Standard lenses are not able to correct ocular disorder known as astigmatism which disables the patient to see clearly and require eyeglasses for vision correction. Intraocular lens offers the advantage of astigmatism and variety of vision correction available thereby giving freedom from spectacles. Intraocular lenses reduce the need for reading or computer eyeglasses after the cataract surgery is performed. These lenses widen the range of vision and people no longer need the supportive of corrective lenses. Surge in healthcare expenditure capacity of people to afford quality treatment as patients have high expectation regarding preference for improved vision is expected to accelerate the growth of the intraocular lens market. Intraocular lenses provide patients the freedom along with renewed sight. Increasing presence of intuitions providing financial aid and human resources to eye care centers for example, “Unite for Sight” is one such organization is expected to bolster the intraocular lenses market for the next five years.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected countries adversely. Leading authorities in United States imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. United States authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Rise in the cancellation of elective surgeries and less preference of patients to stay in hospitals after cataract surgeries led to intraocular lenses market decline.
However, inability of intraocular lens to correct or improve the intermediate vision may create hindrance in the growth of the intraocular lens (IOLs)s market.
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United States intraocular lens (IOLs) market is segmented into type, material, end user, regional distribution, and company. Based on type, market can be further divided into monofocal IOLs, premium IOLs, and others. The monofocal IOLs segment is expected to dominate the intraocular lenses market for the forecast period, 2022-2026. Premium IOLs can be fragmented into multifocal, toric and other type of intraocular lens. Low cost of monofocal lenses and developed healthcare infrastructure is fostering the high demand for monofocal lenses. Based on material, market can be divided into hydrophobic/ hydrophilic acrylic IOLs, silicone, and PMMA. The hydrophobic/ hydrophilic acrylic IOLs segment is expected to hold major market share for the next five years owing to its lower water content and high refractive index. These can be widely used in cataract surgeries as they could be inserted through small incisions.
Johnson & Johnson, Alcon, Inc., Bausch Health Companies, Inc., Carl Zeiss Inc., STAAR Surgical Company, EyeKon Medical, Inc, Lenstec, Inc., Opthalmic Solution Inc., Ellis Ophthalmic Technologies Inc., Rayner Intraocular Lenses USA are the leading players operating in United States intraocular lens (IOLs) market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several intraocular lens (IOLs) manufacturers are coming up with their technologically advanced offerings.
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“Market players are investing huge amounts for innovations and technological advancements to upgrade the existing infrastructure. Adoption of advanced cataract surgery technology such as phacoemulsification, laser-assisted cataract surgery, robotic cataract surgery, femtosecond lasers in addition with use of three-dimensional technology and eye-tracking technology for effective treatment of eyes is expected to propel the demand for intraocular lenses for the next five years. Favorable reimbursement policies and prevalence of eye related disorders is further boosting the United States intraocular lenses market growth until 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Intraocular Lens (IOLs) Market By Type (Monofocal IOLs, Premium IOLs, Others) By Material (Hydrophobic/ Hydrophilic Acrylic IOLs, Silicone, PMMA) By End User (Hospitals & Clinics, Ambulatory Care Centers, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of United States intraocular lens (IOLs) market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of United States intraocular lens (IOLs) market.
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