Artificial Eye Lenses Market To Witness Increase In Revenues By 2031

Mass technological transformation of the global healthcare industry has left key market participants struggling to traverse the complexities of medical and life sciences. Given the shifting dynamics of the global healthcare sector, pharma and biotech companies are taking measured efforts to improve patient outcomes in an effective manner, while keeping a careful watch on the bottom line.

Much is being said about Artificial Intelligence taking over manual back office and supply chain operations in the healthcare ecosystem, threatening to replace physicians from critical claims processing roles. This might put pressure on pharmaceutical companies to ensure readiness to the new technology.

Big data and analytics will drive patient outcomes in a big way, and the coming years will witness a growing emphasis on healthcare service providers in the business of gathering and processing patient health data.

Creating outcome-oriented financial models to maximize reimbursements in value-based healthcare will be a strategic shift from the traditional fees-for-services model. This implies that pharmaceutical companies will need to devise appropriate measures to optimize costs and improve the quality of patient care.

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.

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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.

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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.

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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:

  • Hospitals
  • Ambulatory Surgical  centers
  • Ophthalmic Clinics
  • Eye Research Institutions

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 + LombHumanOptics, 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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