DUBLIN--(BUSINESS WIRE )--The "Intraocular Lens - Market Insight, Competitive Landscape and Market Forecast - 2026" report has been added to ResearchAndMarkets.com's offering.

The intraocular lens market was valued at USD 3,687.20 million in 2020, growing at a CAGR of 4.88% during the forecast period from 2021 to 2026 to reach USD 4,812.32 million by 2026.

The demand for intraocular lenses is witnessing a surge primarily due to the rising prevalence of eye diseases, increasing initiatives by various governments across the globe in controlling and treating blindness, technological advancements in IOLs, and the increasing geriatric population who are more susceptible to ocular ailments which are expected to contribute in the growing product demand thereby boosting the growth of the of the intraocular lens market during the forecast period from 2021-2026.

The intraocular lenses market is experiencing increased product demand for a variety of reasons, one of the main reasons being the increase in the prevalence of ocular diseases. Increasing prevalence of eye diseases such as refractive error, age-related macular degeneration, cataracts, diabetic retinopathy, and glaucoma is a major driver of the intraocular lens market in particular. The majority of people over the age of 60 are affected by various types of eye problems that are chronic and require eye surgery. Visual impairment is a global health problem that affects physical and mental health.

Visually impaired people are at particular risk of chronic illness, accidents, social withdrawal, depression, and death. According to the World Health Organization, in 2020, at least 2.2 billion people suffered from short- or long-distance visual impairment. According to the same source, in 2020, about 1 billion people had moderate refractive error due to untreated refractive error (88.4 million), cataract (94 million), glaucoma (7.7 million), and corneal opacity (4.2 million). Therefore, the presence of such large patient pool with ocular diseases are potential targets for companies operating in the IOL market.

Another contributing factor that may be responsible for the growth of the intraocular lens market is the technological advancements in the development of IOLs. Due to the rising prevalence of eye disease has increased the demand for IOLs, allowing companies to invest more in the technological advances in intraocular lenses.

Companies are in constant contact with the ophthalmology community and conduct occasional surveys to understand the needs of their patients and adjust their R&D accordingly. Companies operating in this domain are continuously working on the introduction of IOLs of various materials, shapes and sizes to address issues such as post-operative glistening and post-operative posterior capsule opacity (PCO). These advances were reflected by the variety of state-of-the-art IOLs available in the market, introducing new design lenses such as blue light blocking IOLs, aberration-free IOLs, and toric IOLs. Postoperative changes in optical power offer a more personalized approach for patients thereby enabling them to receive treatment catering to their specific needs in terms of vision correction.

Key Takeaways from the Intraocular Lens Market Report Study

1. Intraocular Lens Market Report Introduction

2. Intraocular Lens Market Executive Summary

4. Intraocular Lens Market Key Factors Analysis

4.1.1 Rising Prevalence of Eye Diseases

4.1.2 Increasing Initiatives by Various Governments Across the Globe in Controlling and Treating Blindness

4.2 Intraocular Lens Market Restraints and Challenges

4.2.1 Post-operative Complications Associated with Intraocular Lens

4.2.2 Lack of Coverage of Premium Lens

4.3.1 Untapped Potential of Emerging Markets

4.3.2 Increasing awareness Toward Intraocular Lens

5. Intraocular Lens Market Porter's Five Forces Analysis

6. COVID-19 Impact Analysis on Intraocular Lens Market

8. Intraocular Lens Market Global Company Share Analysis - Key 3-5 Companies

9. Intraocular Lens Market Company and Product Profiles

For more information about this report visit https://www.researchandmarkets.com/r/8rxc4.

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T. Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900

ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T. Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900