Intraocular lenses (IOL) are the medical devices implanted inside the eye to replace the natural eye lens; to treat cataract or refractive errors. Monofocal IOLs are standard lenses used in cataract surgery. They are primarily performed on older people that are already entirely presbyopic. Monofocal IOL is an intraocular lens with a fixed focus for one distance. They can be selected for near, moderate distance, or distant focus, but only one of these three can be chosen. It focuses light that comes into your eye (like your own natural lens) through your cornea and pupil and onto your retina. Monofocal intraocular lens is constructed of silicone or acrylic and coated with a material to protect your eyes from UV rays.
The monofocal intraocular lens market has shown a significant evolution over the forecast period. The key driving factors include the rapid growth in the geriatric population and associated eye disorders and the increasing prevalence of eye diseases & diabetes in the overall population globally. The increase in the majority of cataracts has increased the demand for intraocular lenses globally. In 2015, according to the Vision Council, around 76.2% of adults in the U.S. underwent vision correction surgery, and about 22.1% of the adults expressed that they need vision correction. Moreover, the rising rate of diabetic retinopathy is creating lucrative opportunities for the development of the market. As per the National Eye Institute, the United States recorded 7.7 million diabetic retinopathy cases and 24 million cataract cases, and it is expected to reach 11.3 million and 38 million, respectively, by 2030. Various government initiatives and awareness programs to eliminate avoidable blindness are together likely to propel the demand for a monofocal intraocular lens. For instance, in 2011, Lions Clubs International Foundation (LCIF), in partnership with the People's Republic of China, initiated a new phase of their campaign in China known as SightFirst China Action (SFCA), which aims at preventing blindness. However, unfavorable reimbursement scenario for premium lens and postoperative complications such as refractive errors are expected to impede the monofocal intraocular lens market growth.
The "Monofocal Intraocular Lens Market Analysis to 2028" is a specialized and in-depth study of the medical device in the healthcare industry, focusing on the global market trend analysis. This report provides an outline of the monofocal intraocular lens market with detailed market segmentation by product, material, and end-user. The monofocal intraocular lens market is expected to witness high growth during the forecast period. The report focuses on the vital statistics on the market status of the leading players in the monofocal intraocular lens market and offers key trends and opportunities.
The market is segmented based on the product, material, and end-user. Based on the product, the market is categorized as spherical and aspherical. Based on the material, the market is segmented as polymethylmethacrylate (PMMA), silicone, hydrophobic acrylic, and others. Based on the end-user, the market is segmented as hospitals, ophthalmology clinics, ambulatory surgical centers, and others.
The report lays out a comprehensive outline of the industry, including both quantitative and qualitative information. The report gives a sketch and forecast of the monofocal intraocular lens market based on various segments. It also comprises of market size and forecast estimates from the year 2020 to2028 concerning five major regions: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South & Central America. The market by each region is then subdivided into respective countries and segments. The report comprises the analysis and forecast of eighteen countries globally and the recent trend and opportunities prevailing in the region.
The report analyzes factors affecting the monofocal intraocular lens market from both the demand and supply side. Moreover, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends.
The report also consists of precise PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South & Central America, after evaluating political, economic, social, and technological factors affecting the monofocal intraocular lens market in these regions.
The report contains critical developments in the monofocal intraocular lens market as organic and inorganic growth strategies. Multiple enterprises focus on organic growth strategies like product approvals, product launches, and others, such as patents and events. Inorganic growth strategies observed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from the monofocal intraocular lens market are anticipated to have profitable growth opportunities in the coming years with the rising demand for the monofocal intraocular lens market in the global market. Given below is the list of few companies engaged in the monofocal intraocular lens market.
The report also provides the profiles of the primary players in the monofocal intraocular lens market, along with their SWOT analysis and market strategies. Additionally, the report elaborates on leading industry players with information on company profiles, components, and services provided, financial information of the last three years, critical development in the past five years.
- Alcon Vision LLC
- HumanOptics AG
- Johnson & Johnson Vision Care, Inc.
- HOYA Surgical Optics GmbH
- Carl Zeiss Meditec AG
- Bausch + Lomb
- Ophtec BV
- Lenstec, Inc.
- Rayner Intraocular Lenses Limited.
- SIFI S.p.A
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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to segments covered.
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
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to country scope.
1. Alcon Vision LLC
2. HumanOptics AG
3. Johnson & Johnson Vision Care, Inc.
4. HOYA Surgical Optics GmbH
5. Carl Zeiss Meditec AG
6. Bausch + Lomb
7. Ophtec BV
8. Lenstec, Inc.
9. Rayner Intraocular Lenses Limited.
10. SIFI S.p.A
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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