(EMAILWIRE.COM, August 10, 2018 ) Growing Demand for Technological Advanced Intraocular Lenses
Currently, there is an increasing demand for technological advanced premium IOLs such as, multifocal IOLs, presbyopia- and astigmatism-correcting intraocular lens (IOL), accommodating IOL, extended depth of focus (EDoF) IOL. This growth is mainly fueled by the need to improve the quality of vision and reduce the risk of blindness.

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Among premium IOLs, accommodating IOLs segment is projected to grow at the fastest CAGR of 7% during the forecast period of 2017 to 2022.

Technological innovation is at the focus of strategic growth initiatives by market players
Looking at the increasing demand for premium IOLs a number of companies are increasingly focusing on developing and launching technologically advanced intraocular lenses. For instance, in April 2018, Swiss Advanced Vision (Switzerland), launched a Project R-TASC (Real-Time Autofocus Servo Control), an active lens with real-time focus and wireless connectivity. Similarly, in October 2017 Bousch + Lomb (US), launched the enVista MX60E, a hydrophobic, acrylic advanced optic (AO) IOL with StableFlex technology to provide controlled unfolding, excellent stability, and enhanced optic recovery. Carl Zeiss Meditec (Germany) launched AT LARA, an extended depth of focus (EDoF) IOL in October 2017.

Asia Pacific: High Growth Opportunity for Intraocular Lenses Business
During the forecast period, Asia Pacific countries, such as India and China, are expected to offer significant growth opportunities for manufacturers of intraocular lenses. The high growth in these markets can be attributed to the significant demand for quality, technologically advanced IOL products from the huge patient population in India and China. Consequently, a number of market players are eyeing to achieve a sustainable revenue growth by targeting these high growth markets.

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According to the UN Economic and Social Affairs 2015 Report, the population of people aged over 60 years in Asia is expected to increase by more than 66% by 2030. The prevalence of age-related eye diseases in this region is therefore expected to increase in the coming years.

Moreover, increasing healthcare expenditure, improving healthcare infrastructure, and growing government initiatives to treat and control blindness are also expected to drive the intraocular lenses market in Asia Pacific region.

Market Trend
Shift of Ocular Surgeries from Hospitals to Ambulatory Surgical Centers (ASCs)

The Intraocular Lens Market among ASCs is projected to grow at a CAGR of 6.3% during the forecast period to reach at USD 2.15 billion in 2022. ASCs provide outpatient procedures that do not require an overnight stay post-surgery. Since their inception, ASCs have demonstrated an exceptional ability to improve quality and customer service while simultaneously reducing costs.

Over the past decade, the proportion of cataract surgeries performed at surgery centers increased steadily, reaching 73% in 2014 as compared to 43.6% in 2001 (Source: EurekAlert, Science Newsletter, 2017). In comparison to hospitals, ASCs offer a cost-effective and convenient treatment option for eye surgeries. For instance, in the US, a cataract surgery performed in an ASC costs around USD 2,498, as opposed to around USD 3,459–7,742 in hospitals. As the services provided in ASCs are less expensive than hospitals and eye clinics, they also decrease the cost-per-case for various medical insurance providers.

Key Questions
As premium IOLs gain greater demand, which are the high growth segments within premium IOLs providing opportunities of innovation?
As developed economies are reaching saturation, what are the geographic growth opportunities in the intraocular lenses market?
How is cost of procedure shifting IOLs market from hospitals to ambulatory surgical centers? What are the growth opportunities in this segment?
What are the growth strategies of key market players in this market?

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