The Europe Intraocular Lens Market would witness market growth of 4.8% CAGR during the forecast period (2021-2027).
Despite a slight drop in total sales in the first half of the COVID-19 outbreak, the market is likely to rebound and thrive throughout the forecast period. The government's limitations and lockdowns had a detrimental impact on both demand and supply in the market. While the number of treatments performed decreased dramatically as a result of the shift in healthcare objectives, the closure of production plants resulted in a scarcity of intraocular lenses. However, the market is predicted to develop steadily and profitably throughout the projection period, thanks to the opening up of economies and the advent of vaccinations. Proteins in the eye alter with age, and sections of the lens become clouded, raising the risk of cataracts.
The IOL market in Europe is expected to grow as the number of cataract surgeries increases, femtosecond lasers become more widely used for cataract surgery, and toric lenses become more popular. According to Eurostat, the number of cataract procedures conducted per 1,000 people in Germany, Italy, and Spain was 10, 9, and 7, respectively, in 2016. This, together with the existence of many companies in Europe, is projected to lead to an increase in demand for intraocular cataract lenses. Implanting multifocal and multifocal toric IOLs has been a prominent procedure for restoring vision following cataract surgery and for correcting presbyopia in recent years. Although multifocal IOLs give great distant and close vision, they may not provide as good intermediate vision. However, numerous recent IOLs, such as the FineVision and the AT LISA tri, recover intermediate vision without affecting near or far vision.
The Germany market dominated the Europe Intraocular Lens Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $337 Million by 2027. The UK market is exhibiting a CAGR of 3.9% during (2021 - 2027). Additionally, The France market would display a CAGR of 5.5% during (2021 - 2027).
Based on End-use, the market is segmented into Hospitals, Ophthalmic Clinics, Eye Research Institutes, and Ambulatory Surgery Centers. Based on Product, the market is segmented into Multifocal, Monofocal, Toric, and Accommodative. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Intraocular Lens Market Size will Hit $5.1 Billion by 2027, at a CAGR of 5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include EyeKon Medical, Inc., Lenstec, Inc., HumanOptics AG, STAAR Surgical Company, Rayner Intraocular Lenses Limited, Bausch Health Companies, Inc., Carl Zeiss AG, Johnson & Johnson (Johnson & Johnson Vision Care, Inc.), Hoya Corporation, and Alcon, Inc.
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