The North America Intraocular Lens Market would witness market growth of 4.6% CAGR during the forecast period (2021-2027).
Cataract surgery has become fully refractive owing to technical advancements and innovations in this sector. Monofocal IOLs lead the market because to their cost-effectiveness and conducive reimbursement regulations, followed by toric and multifocal IOLs. Newer IOLs, including as trifocal, quadrifocal, extended depth-of-focus (EDOF), and customizable IOLs, have contributed to spectacle-free vision at all distances, as well as improved optics and aberration profiles. Increased demand for premium patient-pay lenses is likely to propel the industry growth.
In order to promote the industry, several government programmes to eradicate cataracts have been developed. Cataracts are becoming more common in many countries, posing a financial and health danger. As a result, the government has implemented a variety of cataract-prevention initiatives. Vision 2020 is a global campaign launched by the International Agency for the Prevention of Blindness with the objective of eradicating the primary causes of avoidable blindness
The rising prevalence of visual impairment caused by increased use of laptops, computers, cellphones, and other electronic devices is predicted to drive regional product demand. Factors like as an ageing population and the development of presbyopia are projected to enhance the regional spectacles industry. Huge disposable incomes, fueled by the presence of well-known brands in the area, are among the key drivers driving this industry's rise. Furthermore, the key element that fuels product penetration is long-term usage of electronics combined with a hurried lifestyle.
The prevalence of cataract is rising, which is expected to move the market forward throughout the forecast period. In addition to age-related cataracts, the market is predicted to develop due to an increase in incidence of congenital cataracts. As per the National Eye Institute, the number of persons with cataracts in the United States is anticipated to treble from 24.4 million to almost 50 million by 2050.
The US market dominated the North America Intraocular Lens Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,284.1 Million by 2027. The Canada market is experiencing a CAGR of 7% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 6.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Intraocular Lens Market is Estimated to reach $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.
By End-Use
By Product
By Country
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