The global demand for Artificial Lens Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028. Regarding volume, the market was calculated XX K Units in 2021 and forecast to touch XX K Units by 2028 with a CAGR of XX% during 2022-2028.
An artificial lens is a substitute for the natural lens in the eye that performs image focusing. An artificial lens is commonly used for vision correction as part of cataract surgery or refractive lens exchange. An artificial lens is used to correct hyperopia, myopia, presbyopia, and astigmatism. An artificial lens is typically made of silicone or acrylic and coated with a unique material to protect the eyes from ultraviolet rays.
Market Dynamics
The growth is majorly driven by the rise in the adoption of advanced premium artificial lenses and the development of new artificial lenses by many key players. Moreover, the growth in this market can be attributed to the rapid growth in the geriatric population and associated eye disorders. Furthermore, a rise in the number of cataract surgeries worldwide is expected to generate ample business prospects in the global artificial lens market in the upcoming years. Also, the increase in the burden of diabetes is one of the reasons causing vision impairment, which may add to the artificial lenses market growth. Furthermore, technological innovations in artificial lenses are expected to propel market growth. Additionally, the rising government initiatives toward the treating cataracts and controlling preventable blindness are boosting the growth in this region. However, unfavourable reimbursement situations such as refractive errors may hamper the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of artificial lens. The growth and trends of artificial lens industry provide a holistic approach to this study.
Market Segmentation
This section of the artificial lens market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Monofocal Artificial Lens
- Multifocal Artificial Lens
- Toric Artificial Lens
- Accommodative Artificial Lens
- Others
By Application
- Hospitals
- Ophthalmology Clinics
- Ambulatory Surgery Centers
- Eye Research Institutes
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Artificial Lens market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Artificial Lens Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the artificial lens market include ALCON, AMO (Abbott), Bausch + Lomb, HOYA, CARL Zeiss, Ophtec, Rayner, STAAR, Lenstec, HumanOptics, Biotech Visioncare, Omni Lens Pvt Ltd, Aurolab, SAV-IOL, Eagle Optics, SIFI Medtech, Physiol. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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