Latest News- Intraocular Lens Market in India: Monofocal intraocular lens is expected to lead the Product segment during 2024-2028

The Intraocular Lens Market in India is being driven by Increasing prevalence of ophthalmic diseases

The Intraocular Lens Market in India is expected to grow at a CAGR of 10.87% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 131.8 million. Medical tourism is a burgeoning industry where patients from developed countries seek affordable, high-quality healthcare in developing nations, including India. With advantages such as lower costs, favorable exchange rates, shorter waiting times, and accessibility to specialized treatments, destinations like India attract medical tourists from the US, Canada, and other developed countries. The Medical Tourism Association (MTA), a global non-profit trade organization, plays a pivotal role in facilitating this trend. Comprising major international hospitals, healthcare providers, medical travel facilitators, and insurance companies, the MTA is dedicated to promoting sustainable medical tourism through low-cost treatment options and accredited healthcare systems. 

Get more information on Intraocular Lens Market in India by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Monofocal intraocular lens
  • Multifocal intraocular lens
  • Toric intraocular lens
  • Accommodative intraocular lens
• End-user
  • Hospitals
  • Ophthalmic clinics
  • Ambulatory surgery centers
• Geography
  • India

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing prevalence of ophthalmic diseases
• Technological advances
• Initiatives to create awareness about benefits and advances in ophthalmic lenses

However, the market also witnesses some limitations, which are as follows:

• Intense competition among manufacturers of intraocular lens
• High cost of intraocular lens
• Post-surgical complications

Benefits of Buying Global Intraocular Lens Market in India Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Intraocular Lens Market in India Research Report

Request Free Sample

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Intraocular Lens (IOL) market in India encompasses various types of IOL materials, including hydrophobic and hydrophilic lenses, acrylic and silicone IOLs, foldable, single-piece, three-piece, iris-fixated, and sutureless IOLs. IOL implantation, exchange, and explantation are crucial procedures in visual rehabilitation, with safety, efficacy, and patient satisfaction being key considerations. IOL complications and cost-benefit analysis are essential for value proposition and industry growth. Technological advancements, research, and clinical studies drive innovation in ophthalmic surgery for refractive error, presbyopia management, and vision correction, enhancing ocular health and eye care within the medical device industry. Strategic partnerships, industry collaborations, technology transfer, regulatory landscape, and healthcare policy shape investment opportunities in this sector.

Market Research Overview

The Intraocular Lens (IOL) market in India is a significant segment of the global healthcare supplies industry, focusing on the production and innovation of IOLs for cataract surgery, refractive surgery, and presbyopia correction. Technavio, a leading global technology research agency, sizes the global healthcare supplies market based on the consolidated revenue of key players manufacturing medical supplies, including intraocular lenses. Factors driving market expansion include the increasing prevalence of cataracts and presbyopia, advancements in IOL technology such as accommodative IOLs and the implantable collamer lens, and precise IOL power calculation techniques. The aging population is a key demographic, with Europe and the US projected to have over 25% of their populations aged 60 and above by 2030 and 2050, respectively, necessitating increased demand for ophthalmic procedures and related products.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/