Artificial eye lens or Psuedophakos is also known as the intraocular lens that is used to treat patients suffering from cataract. The artificial eye lens is implanted in the eye by replacing the natural lens. A lens helps focus light into your eye retina, the layer of light-sensitive tissue in the back of your eye. In most surgery cases, the natural lens is removed and the artificial eye lens is implanted within the lens capsule during the same surgery. Artificial eye lens are made up of non-reactive materials, such as poly (methyl methacrylate) PMMA, silicone, and acrylic. The artificial eye lenses have refractive power and capability to bend light, which helps to focus light rays and pictures on retina. There are many types of lenses that are available namely, monofocal lenses, astigmatic lenses, multifocal lenses and some other.
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Artificial Eye lenses Market: Drivers and Restraints
Hospital segment attracting the pool of people from remote area to go for cataract surgery are the major driver of artificial eye lens market. According to the World Health Organization, cataract is the major concern among elderly people. Increase in the ageing population associated with rising prevalence of metabolic disorders amongst people is the major driver of artificial eye lens market. Moreover, government initiative and awareness program by eye foundations and Non-Government Funded Organizations will contribute to further drive the artificial eye lens market over the coming years. Family history and congenital cases associated with cataract among people has increased the requirement of cataract surgeries in early age also contribute to inflate artificial eye lens market over the forecast period. Though the artificial eye lens implants have a high success rate, the market can be impede by scarcity of ophthalmologist, lack of proper coverage or co-payment policies for premium artificial eye lens and lack of reimbursement policies in the emerging countries.
Artificial Eye Lenses Market: Segmentation
The global artificial eye lens market is segmented on the basis of product type, application, material, end-user and by region
Based on the product type, the global artificial eye lens market is segmented as:
- Monofocal Artificial Lens
- Premium Artificial Lens
- Toric Artificial Lens
- Multifocal Artificial Lens
- Accomadating Artificial Lens
- Blue light filtering Artificial Lens
- Phakic Artificial Lens
- Aspheric Artificial Lens
Based on end user, the global artificial eye lens market is segmented as:
- Ambulatory Surgical centers
- Ophthalmic Clinics
- Eye Research Institutions
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Artificial Eye Lenses Market: Overview
The artificial eye lens market is expected to witness exponential growth over the forecast period due to rise in number of patients going for cataract surgeries and more number of patients suffering from cataract. It is estimated that around 76.2% adults in the U.S have undergone vision correction surgery in 2015 and about 22.1 % of adults require vision correction, as per vision council data. These factors contribute to drive artificial eye lens market over the forecast period. In 2011, Lions Club International Foundation (LCIF) and Peoples Republic of China together initiated to put a campaign in China Known as Sight-First China Action (SFCA) that majorly focuses on preventing eye blindness. Though all type of artificial eye lens market is in good health, the monofocal silicone segment of artificial eye lenses continues to generate more revenue as compared to all other types of lenses over the forecast period. The manufacturers at the global level focusing on improving their product portfolios in emerging countries, this will further contribute to boost the demand over the forecast period.
Artificial Eye Lenses Market: Regional Outlook
Globally, technologically advanced regions such as North America is expected to lead the market over the coming tenure. Europe is expected to be the second most profitable region in the global artificial eye lens market owing to higher prevalence of cataract amongst the elderly population. Asia Pacific is expected to show robust growth over the forecast period due to increase metabolic disorders associated with cataract. India and China have high prevalence of diabetes mellitus that leads to cataract these countries are considered as an emerging market for artificial eye lens. Whereas, MEA is expected to be the least lucrative region in the global artificial eye lens market.
Artificial Eye Lenses Market: Key Players
Some of the key market players operating at the global level are Alcon, Inc. (division of Novartis AG), EyeKon Medical, Inc., Lenstec, Inc., HumanOptics AG, HOYA GROUP, Rayner Intraocular Lenses Limited (UK), Bausch + Lomb, HumanOptics, PhysIOL (Belgium), Swiss Advanced Vision (SAV IOL) (Switzerland), Omni Lens Pvt Ltd. (India), Care Group (India), Fred Hollows Intraocular Laboratory (Eritrea).
The research report on artificial eye lens market presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report on artificial eye lens market provides analysis and information according to market segments such as geographies, application, and industry.
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The report covers exhaust analysis on Artificial Eye Lenses Market:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Report on Artificial Eye Lenses market includes regional analysis:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Europe (Germany, Italy, France, U.K, Spain, , Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, ASEAN)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Northern Africa).
The report on artificial eye lenses market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report on Artificial Eye Lenses market highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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