What are the Historical Developments and Current Growth Metrics of the Aphakia Market?
The aphakia market has seen considerable growth due to a variety of factors.
• The aphakia market has seen a significant growth in its size in the past few years. The size is set to increase from $1.68 billion in 2024 to $1.89 billion in 2025>, with a compound annual growth rate (CAGR) of 12.6%.
The growth during the historic period is due to the rise in cases of cataracts, advancements in surgical procedures, increased consciousness about eye healthcare, a surge in the count of eye surgeries, and an escalation in the number of clinical trials.
What Is The Projected Growth Of The Aphakia Market?
The aphakia market is expected to maintain its strong growth trajectory in upcoming years.
• The aphakia market size is projected to experience rapid expansion in the coming years, ballooning to $3.03 billion in 2029 with a compound annual growth rate (CAGR) of 12.4%.
The brisk growth in the forecast period may be attributed to the escalating demand for advanced intraocular lenses (IOLs), the surge in ophthalmic surgeries, the rising occurrence of eye trauma, the expansion of medical tourism for eye surgeries, and a growing emphasis on personalized treatment plans. Notable trends for the forecast period encompass the incorporation of digital technology into cataract operations, advancements in less invasive surgical methods, progress in lens materials, the use of patient-specific data analytics, and the adoption of robot-assisted operations.
Which Key Drivers Are Propelling The Aphakia Market's Growth?
The aphakia market is anticipated to grow due to the increasing occurrence of cataracts. Cataracts are a condition that makes the lens of the eye cloudy, resulting in diminished vision. The rise in cataract cases is due to population growth, higher diabetes incidence, overexposure to sunlight, smoking, and inadequate nutrition. The necessity to remove the natural lens of the eye to treat the clouded lens during cataract surgery results in aphakia, a state where the eye lacks its natural lens. For example, in July 2023, the 2021-2023 National UK Eye Care Statistics Survey by the Well-being of Future Generations Act (WFG), a UK government agency, reported about 16,500 cataract admissions in 2022-2023, a 23.7% increase from the prior year. As a result, the surging cases of cataracts are fueling the growth of the aphakia market.
What Are The Principal Market Segments In The Global Aphakia Industry?
The aphakiamarket covered in this report is segmented –
1) By Type: Congenital Aphakia, Surgical Aphakia, Acquired Aphakia
2) By Treatment: Spectacles, Contact Lenses, Intraocular Lens Implantation, Refractive Surgery
3) By End User: Hospitals, Ophthalmic clinics, Other End Users
Subsegments:
1) By Congenital Aphakia: Primary Aphakia, Secondary Aphakia
2) By Surgical Aphakia: Post-Cataract Surgery, Post-Lens Dislocation Surgery
3) By Acquired Aphakia: Trauma-Induced Aphakia, Disease-Induced Aphakia
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Which Emerging Market Trends Are Altering The Aphakia Industry?
Leading companies in the aphakia market are focusing on the development of presbyopia-correcting intraocular lenses (IOL) to improve vision results and patient gratification. These presbyopia-correcting IOLs aid in treating aphakia by restoring unclear vision and correcting presbyopia, facilitating clear visual perception at various distances without the need for additional glasses. For example, in November 2023, Alcon, a company based in Switzerland that deals with surgical equipment, introduced Clareon Vivity in Canada. This innovative product is a nondiffractive extended depth of focus (EDOF) intraocular lens (IOL) that provides high-quality vision with minimum visual interruptions. The Clareon Vivity IOL is employed to treat aphakia, a condition characterized by the removal of the eye's natural lens, most often during cataract surgery. The application of x-wave technology boosts focus without breaking the wavefront, thus minimizing halos for a sharper visual experience. This development signifies a substantial progression in the aphakia market, offering cataract patients an enhanced alternative for presbyopia correction.
Who Are the Key Players In The Aphakia Market?
Major companies operating in the aphakia market are:
• Johnson & Johnson Services Inc.
• Aetna Inc.
• Alcon Laboratories Inc.
• Hoya Corporation
• CooperVision Inc.
• Carl Zeiss AG
• Santen Pharmaceutical Co. Ltd.
• Appasamy Associates
• Aurolab
• Rayner Intraocular Lenses Limited
• VSY Biotechnology
• Ophtec BV
• SIFI SpA
• Aaren Scientific Inc.
• Mediphacos
• Hanita Lenses Ltd.
• Menicon Co. Ltd.
• Lenstec Inc.
• Morcher GmbH
• Bausch & Lomb Incorporated
• Bohus BioTech AB
• Nidek Co. Ltd.
• Swiss Advanced Vision AG
• UltraVision CLPL
• Medennium Inc.
What Are The Regional Insights Into The Aphakia Market?
North America was the largest region in the aphakia market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aphakia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
