Intraocular Lens (IOS) Market Overview:
Cataracts are the leading cause of blindness in the world. The intraocular lens is a synthetic artificial lens placed to replace the natural lens. Intraocular lenses are used for the surgical treatment of cataracts. According to the World Health Organization (WHO), around 20 million cataract surgeries were performed in 2010 and are expected to reach 32 million by 2020. There are several types of intraocular lens implants to improve vision. Monofocal intraocular lenses are the best option for a limited budget. High quality intraocular lenses are specifically designed to reduce the need for glasses for patients. The tronic intraocular lenses, the multifocal intraocular lenses and the adapted intraocular lenses are among the highest quality intraocular lenses.
The global Intraocular lens (IOL) Market was valued at USD xx million in 2015 and is projected to increase up to USD xx million by 2023 growing at a CAGR of xx% during the forecast period 2015 to 2023.
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Drivers and Restraints:
The significant increase in the prevalence of cataracts is the main factor that has stimulated the growth of the global intraocular lens market. Apart from this, the increasing incidence of diabetes worldwide makes them very prone to cataracts, which results in a high demand for corrective treatments and medical aids, having positive effects on the intraocular lens market. The continuous increase in the global geriatric population, which is the age group most likely to contract cataracts, will also significantly support growth in the intraocular lens market. In addition, advances in technology, and increasing consumer awareness of the product should boost the market for intraocular lenses.
At the regional level, North America leads the global market for intraocular lenses and is expected to maintain its dominant position in the coming years, according to market research. The high level of consumer awareness and the constant increase in per capita spending on health care are the main factors behind the predominance of the market for intraocular lenses in North America. The large number of market players based in North America is another important factor that supports this regional market. Based on statistics, in 2016, North America dominated the global market for intraocular lenses with a market share of more than 46%.
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Key Players of Intraocular Lens (IOS) Market:
Abbott Medical Optics, Inc., Alcon, Inc., Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Eyekon Medical, Rayner Intraocular Lenses Limited, HumanOptics AG, Lenstec, Hoya Corporation, and STAAR Surgical Company are the major players of the Intraocular Lens (IOS) Market.
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