Global Optical Implants Market Revenue to Record Stable Growth Through COVID-19 Affected and Forecast 2019-2026
The change during the COVID-19 pandemic has upgraded our reliance on trend setting innovations, for example, augmented reality, virtual reality, and the industrial internet of things. The unfulfilled money related targets are convincing the associations to embrace robotization and cutting edge innovations to remain ahead in the market rivalry. Organizations are using this open door by distinguishing day by day operational needs and teaching robotization in it to make a computerized framework as long as possible.
Global Optical Implants Market is flooded with various local and international players who offer a wide range of products. Key global and local players in the optical implants market are coming up with innovations and technological advancements which address to patient requirements with customized solutions. Increase in various ophthalmic disorders such as scleritis, glaucoma, and age related degeneration (AMD) is one of the major factors propelling the growth of and demand for Optical Implants. Cataract is one of the leading causes of blindness and accounts for approximately 51% of the world blindness.
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Age related diseases, sedentary lifestyle, working for long hours in front of a computer and increase in the geriatric population have created awareness among the key players of the Optical Implants industry, thus, propelling them to develop new and advance technologies which can be used to address the above mentioned diseases and disorders. Higher adoption rates and acceptance of vision correction procedures are some of the factors propelling the growth of the industry. The Optical Implants market is segmented into various applications. Glaucoma surgery, due to increasing incidence of glaucoma is one of the leading applications in the optical implants market. Rising awareness about this disease is further increasing the demand for early treatment.
Drivers and Restraints
The Global Optical Implants market is driven by technological advancements in implants like multifocal optical implant lens technology and the increasing cataract development in the geriatric population. Increasing life expectancy and the rising awareness among the youth is expected to fuel the market for Optical Implants. Corneal Implants in North America is one of the main drivers owing to the high prevalence of ocular disorders and anomalies. The availability of advanced optical implants and technologies will fuel the growth in the already developed regions. However, damage associated with implants and side effects of using optical implants may hamper the growth of the Optical Implants market.
Regional Insights
Geographically, the global Optical Implants Market is segmented North America, Latin America, Europe, Asia Pacific, Japan and Middle-East & Africa. The global market is dominated by North America due to the increasing number of optical implant surgeries and the increasing geriatric population. Europe, which also dominates the Optical Implants market, is expected to witness robust growth. The Asia Pacific market for Optical Implants is anticipated to witness a very high growth rate owing to the rise in healthcare expenditure.
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Segmentation
Global Optical Implant Market is segmented as follows:-
By Type
- Intraocular Lenses
- Orbital Implants
- Optical Prosthesis
- Corneal Implants
- Glaucoma Implants
By Application
- Oculoplasty
- Glaucoma Surgery
- Drug Delivery
- Age-related Macular Degeneration
- Aesthetic Purpose
By End User
- Hospitals
- Clinics
- Specialty Eye Institutes
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Competition Outlook
Some of the key players in the Optical Implants market are,
- Alcon(Novartis AG)
- Johnson & Johnson Services
- Pfizer Inc.
- STAAR surgical
- MORCHER Gmbh
- Bausch & Lomb Inc.
- Carl Zeiss
- Neoptics
- ReVision Optics
- AcuFocus
- Presbia
- KeraMed
- PowerVision
- Cornea Research Foundation of America
- Ocular Systems
- Cornea Biosciences
The key players in the Optical Implants market are undertaking various strategies like acquisitions, mergers and collaborations in order to maintain their market share. These strategies will help key players to find new opportunities in various regions.