Global Contact and Intraocular Lenses Market

Contact and Intraocular Lenses Market Size, Share, Growth Analysis, By Type(Contact Lenses, and Intraocular Lenses), By Material(Contact Lens Material, and Intraocular Lens Material), By End User(Hospitals, Ophthalmic Clinics, and Others), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Contact And Intraocular Lenses Market?

Global Contact and Intraocular Lenses Market size was valued at USD 9.56 billion in 2022 and is poised to grow from USD 10.23 billion in 2023 to USD 17.58 billion by 2031, at a CAGR of 7.01% in the forecast period (2024-2031).

Q: Who are the key vendors in the Global Contact And Intraocular Lenses Market?

The global contact and intraocular lenses market is almost consolidated with a few major market players accounting for a notable market share. contact and intraocular lens companies are penning collaborations and partnerships with government and public health organisations to increase awareness regarding eye disorders. contact and intraocular lenses market players are also focusing on mergers and acquisitions to maximise their global business reach. Product innovation is an area where established as well as new companies will need to focus if they want to stand out in the global competitive landscape. The development of next-generation multifocal lenses will allow companies to expand their product portfolio and boost revenue generation potential in the long run. 'Physiol', 'Lenstek Inc.', 'Alcon', 'Johnson & Johnson Services Inc.', 'Nidek Co. Ltd.', 'EyeKon Medical Inc.', 'HumanOptics AG', 'Bausch & Lomb Incorporated', 'Staar Surgical', 'Carl Zeiss Meditec AG', 'Hoya Corporation', 'The Cooper Companies Inc.'.

Q: Which region accounted for the largest share in Global Contact And Intraocular Lenses Market?

North America accounts for a notable share of the global contact and intraocular lenses market at present. The high spending potential of people in this region and the presence of a developed healthcare infrastructure are majorly contributing to the rising sales of contact and intraocular lenses in this region. The United States is forecasted to be the top market for contact and intraocular lens suppliers in this region. Growing launches of new types of lenses in North America and rising spending on ophthalmic care are also factors that could provide new opportunities for market growth in this region going forward. The availability of better reimbursement policies for eye surgeries and treatments in this region will also support market development.

Report ID: SQMIG35B2189 | Region: Global | Published Date: April, 2024
Pages: 219 | Tables: 88 | Figures: 68

Contact and Intraocular Lenses Market Dynamics

Drivers

Growing Geriatric Population

Older people are more at risk of developing vision-related disorders and diseases especially if they have diabetes. Most cataract surgeries are performed on seniors and this is why they are prominently driving the demand for contact and intraocular lenses.

Rising Spending on Ophthalmic Care

People are more aware of ophthalmic disorders than before and are choosing to spend on treatment of the same to improve their quality of life. Increasing spending on eye care around the world is creating new opportunities for contact and intraocular lenses market growth.

Restraints

High Costs of Advanced Lenses

New contact and intraocular lenses developed using advanced technologies are much more expensive as compared to their traditional counterparts, which makes them inaccessible to people with limited spending potential. This cuts a major consumer base for contact and intraocular lens companies and slows down market development in the long run.

Contact and Intraocular Lenses Market Report Snapshots

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FAQs

Contact and Intraocular Lenses Market size was valued at USD 9.56 billion in 2022 and is poised to grow from USD 10.23 billion in 2023 to USD 17.58 billion by 2031, at a CAGR of 7.01% in the forecast period (2024-2031).

The contact and intraocular lenses market is almost consolidated with a few major market players accounting for a notable market share. contact and intraocular lens companies are penning collaborations and partnerships with government and public health organisations to increase awareness regarding eye disorders. contact and intraocular lenses market players are also focusing on mergers and acquisitions to maximise their business reach. Product innovation is an area where established as well as new companies will need to focus if they want to stand out in the competitive landscape. The development of next-generation multifocal lenses will allow companies to expand their product portfolio and boost revenue generation potential in the long run. 'Physiol', 'Lenstek Inc.', 'Alcon', 'Johnson & Johnson Services Inc.', 'Nidek Co. Ltd.', 'EyeKon Medical Inc.', 'HumanOptics AG', 'Bausch & Lomb Incorporated', 'Staar Surgical', 'Carl Zeiss Meditec AG', 'Hoya Corporation', 'The Cooper Companies Inc.'

Older people are more at risk of developing vision-related disorders and diseases especially if they have diabetes. Most cataract surgeries are performed on seniors and this is why they are prominently driving the demand for contact and intraocular lenses.

Development of Advanced Lenses: UV lenses, multifocal lenses, coloured lenses, and disposable lenses are some advanced types of lenses that are gaining popularity around the world. contact and intraocular lens companies are continually investing in the research and development of new lens technologies to widen their customer base and maximise their business potential in the future.

North America accounts for a notable share of the contact and intraocular lenses market at present. The high spending potential of people in this region and the presence of a developed healthcare infrastructure are majorly contributing to the rising sales of contact and intraocular lenses in this region. The United States is forecasted to be the top market for contact and intraocular lens suppliers in this region. Growing launches of new types of lenses in North America and rising spending on ophthalmic care are also factors that could provide new opportunities for market growth in this region going forward. The availability of better reimbursement policies for eye surgeries and treatments in this region will also support market development.

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Contact and Intraocular Lenses Market Size, Share, Growth Analysis, By Type(Contact Lenses, and Intraocular Lenses), By Material(Contact Lens Material, and Intraocular Lens Material), By End User(Hospitals, Ophthalmic Clinics, and Others), By Region - Industry Forecast 2024-2031

Contact and Intraocular Lenses Market Dynamics

Contact and Intraocular Lenses Market Report Snapshots

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FAQs

What is the market size of Contact and Intraocular Lenses Market?

Who are the key vendors in the Contact and Intraocular Lenses Market?

What is the key driver of Contact and Intraocular Lenses Market?

What is the key market trend for Contact and Intraocular Lenses Market?

Which region accounted for the largest share in Contact and Intraocular Lenses Market?

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