The Asia Pacific Intraocular Lens Market would witness market growth of 5.0% CAGR during the forecast period (2021-2027).
Utilizing a specific variety of premium IOL in every eye might sometimes provide in the greatest visual results following cataract surgery. One eye may have higher astigmatism than the other, for instance. If that's the case, a cataract surgeon might suggest a toric IOL in that eye, as well as an adapting IOL in the other, to eliminate necessity computer glasses. Some other possibility is that the cataract surgeon will propose one type of multifocal lens for one eye and another for the other. This is due to the fact that one brand may give superior computer vision while the other may provide clearer vision at a closer range, such as when reading or performing other close-up jobs.
The significant growth rate of the region is primarily attributable to reasons such as a rise in international patient migration to Asian nations that provide low-cost treatment, increased market penetration in developed nations, and government initiatives that promote ophthalmic care. The Indian National Blindness and Visual Impairment Control System was established in order to raise awareness and provide comprehensive cataract eye care services, as well as refractive errors, corneal problems, and glaucoma treatment. Medical tourists are also attracted by a number of factors, including favourable exchange rates and access to high-quality care at an affordable cost.
China and India are expected to expand at the fastest rates in the Asia-Pacific area. Some of the primary driving factors for the Intraocular Lens Market in developing countries include government actions to incorporate eye care into social security systems, a rise in the geriatric population, an upsurge in cataract cases, and an anticipated increment in the diabetic population. Because of the increased incidence of diabetes and cataracts in Asia Pacific, the market is expected to grow.
The China market dominated the Asia Pacific Intraocular Lens Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $412.9 Million by 2027. The Japan market is poised to grow at a CAGR of 4.4% during (2021 - 2027). Additionally, The India market would experience a CAGR of 5.7% 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 China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Intraocular Lens Market is Projected to reach USD 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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