The global Next-Generation Monofocal IOL (Intraocular Lens) Market experienced robust growth, reaching a value of USD 2,932.5 million in 2022. It is poised to continue its upward trajectory, with a forecasted size of USD 4,559.4 million by 2029, reflecting a Compound Annual Growth Rate (CAGR) of 6.5% during the review period. This estimation takes into account the impact of both the COVID-19 pandemic and the Russia-Ukraine War on market dynamics.
A monofocal IOL is an intraocular lens designed with a fixed focus for a single distance. Ophthalmologists may choose monofocal IOLs tailored for near, mid-distance, or distant focus during cataract surgeries. The selected focus remains constant post-surgery. These lenses work similarly to the eye’s natural lens, focusing incoming light through the cornea and pupil onto the retina. They are small, flexible, foldable, and equipped with the necessary prescription to optimize vision, much like prescription eyeglasses.
The latest generation of monofocal IOLs is designed to enhance depth of focus while effectively correcting corneal spherical aberrations. They offer pupil-independent improvements in simulated intermediate visual acuity and maintain distance visual acuity compared to conventional monofocal IOLs, making them increasingly popular.
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Key trends driving the growth of the Next-Generation Monofocal IOL market include:
1. Rising Environmental Awareness: Growing environmental consciousness is driving demand for innovative and environmentally friendly materials in the healthcare sector, including ophthalmology. Next-generation monofocal IOLs are designed to enhance vision while reducing environmental impact.
2. Expanding Construction Industry: The construction industry continues to grow in tandem with improving living standards and economic development. This growth stimulates the demand for smart lighting equipment in residential, commercial, and industrial applications.
3. Development of New Building Technologies: Advancements in technology and materials have given rise to innovative building solutions, and smart lighting systems are keeping pace with these developments, offering improved performance and energy efficiency.
4. Regional Variations: Smart lighting adoption and usage patterns vary across regions. While it has seen widespread use in North America and Europe, it is still emerging in the Asian market, indicating significant global growth potential.
Monofocal IOLs are a crucial component in ophthalmology, aiding in the restoration of vision and improving the quality of life for cataract and presbyopia patients.
- Global Next-Generation Monofocal IOL market size and consumption value forecasts for the period 2018-2029.
- Regional and country-specific market size and consumption value forecasts for the same period.
- Analysis of market size and forecasts by Type and Application in terms of consumption value for 2018-2029.
- Market shares of major players in terms of revenue for 2018-2023.
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Primary Objectives in This Report:
- Determine the total market opportunity size globally and in key countries.
- Assess the growth potential for Next-Generation Monofocal IOL.
- Forecast future growth in each product and end-use market.
- Evaluate competitive factors affecting the marketplace.
The Next-Generation Monofocal IOL market is categorized by Type and Application for the period 2018-2029, facilitating targeted market expansion.
Market segment by Type:
Market segment by Application:
- Johnson & Johnson
- Rayner Group
- BVI Medical
- AkkoLens Clinical bv
- JelliSee Ophthalmics
- Bausch Health
Regional Analysis Covers:
- North America (United States, Canada, and Mexico)
- Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia, and Rest of Asia-Pacific)
- South America (Brazil, Argentina, Colombia, and Rest of South America)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)
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