Contact and Intraocular Lens Market Expected to Reach US$ 22.9 Billion by 2034, with a 6.4% CAGR Growth | States Transparency Market Research, Inc.
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This development of the industry will likely project the advancement path at a moderate CAGR of 6.4% through the forecasted period. Influenced by various driving forces, the market will create lucrative prospects for key players.
The growing prevalence related to eyesight issues and cataracts has leveraged the demand for contact lenses. With the elevated demand for treatments for eyesight correction, leading manufacturers can expect better prospects in the forecasted period.
In the special cases of retaining natural crystalline lenses, suggested by medical professionals, phakic intraocular lenses are used. This creates new openings for new entrants to explore a niche within the competitive landscape.
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With the technological evolution, leading players are innovating the production of contact lenses and intraocular lenses. This innovation is in terms of the design and corrective power of lenses, which proliferates the availability of lenses in the industry.
Multifocal vision correction is an emerging trend in the market, which is focused upon by leading manufacturers of contact and intraocular lenses. This is another outcome of the growing technological infrastructure and spurring innovation.
The growing investments in the healthcare industry by governments and other key non-governmental bodies have supported the market growth. Efforts for the eradication of cataracts have resulted in inducing lucrative opportunities for key players.
Despite various drivers, the lack of reimbursement policies is constraining the progress of the market. The lack of awareness about contact lenses is another barrier for the industry, affecting the propagation of the competitive landscape.
Key Findings from the Market Report
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Regional Profile
Contact and Intraocular Lens Market Report Scope:
Competitive Landscape
Product innovation is a key mode of expansion used by key players within the contact and intraocular lens market.
Key Players
Key Developments in the Contact and Intraocular Lenses Market
Market Segmentation
Product Type
Application
Material
Distribution Channel
Region
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