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. 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.
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.
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.
Global Optical Implant Market is segmented as follows:-
By End User
Key Data Points Covered in Report:-
PMR utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, number of procedures and capital equipment install base to obtain precise market estimations and insights on various medical devices and medical technology. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analysed to derive data at a global level. This methodology ensures high quality and accuracy of information.
Secondary research is used at the initial phase to identify the feasibility of the target products/technology categories and its respective segments, product offerings, usage pattern as per disease indications, product installed base in target healthcare facilities, life span of a device, reimbursement scenario, adoption rate and future impact of new technologies.
Each piece of information is eventually analysed during the entire research project which builds a strong base for the primary research information.
Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, and supply-side providers of medical devices who provide valuable insights on trends, key treatment patterns, adoption rate, and purchasing pattern, technological development of medical devices, patient education, effectiveness of manufacturers and important strategies, pricing and competitive dynamics.
Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market is analysed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level.
On the other hand, we also analyse various companies annual reports_bk_01_01_2020, investor presentations, SEC filings, 10k reports_bk_01_01_2020 and press release operating in this market segment to fetch substantial information about the market size, trends, opportunity, drivers, restraints and to analyse key players and their market shares. Key companies are segmented at Tier level based on their revenues, product portfolio and presence.
Please note that these are the partial steps that are being followed while developing the market size. Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.