Medi-Tech Insights: The global growth in cataract procedures driven by an aging population, the shift from monofocal IOLs to premium IOLs/advanced technology IOLs, the steady growth of monofocal IOLs in line with the procedural market, and favorable reimbursement scenarios in selected key markets are some of the key factors driving the global intraocular lens market.
BRUSSELS, Belgium, Nov. 23, 2022 (GLOBE NEWSWIRE) — Intraocular lenses (IOLs) are permanent, artificial lenses that are mostly made of silicone, acrylic, or other plastic compositions and can replace the eye’s natural lens to restore both near and distant vision.
The Global Intraocular Lens Market is Likely to Stay Resilient Through the Recession, Though the Value Mix is Expected to be Severely Impacted
Compounding the severe impact of Covid-19, the Russia-Ukraine war has amplified the slowdown in the global economy, which is entering what could become an extended period of feeble growth and elevated inflation. The situation is likely to lead to supply-chain disruptions and the risk of stagflation which might further curtail global economic growth.
Due to the looming recession, patients are expected to delay elective surgical procedures including cataract surgeries until the future of the broader economy looks more promising. In key markets such as the United States, cataract surgeries involving monofocal IOLs are generally fully covered by medical insurance providers or government reimbursement programs whereas implantation of premium or advanced technology IOLs may only be partially covered, with the individual paying out-of-pocket for the non-covered-component. Considering the current economic and financial conditions, patients are expected to be less willing to incur the costs of these private pays or discretionary procedures and may choose to forgo such procedures or products and might consider trading down to more affordable options.
Moreover, in United States, the 2023 Medicare Physician Fee Schedule final rule released by the Centers for Medicare & Medicaid Services (CMS) confirms a ~4.5% cut to surgeons and anesthesiologists, thus harming patient access to needed surgical care. Proposed reimbursement cuts are likely to adversely impact millions of beneficiaries who depend on Medicare to access sight-saving and sight-restoring procedures. However, healthcare insulation in key markets such as the USA is likely to offset the anticipated adverse impact of the recession as most Americans now have health insurance. Payors are also expected to continue to inject capital into the healthcare economy.
Under-penetrated Premium/Advanced Technology IOLs (AT-IOLs) Offer Ample Growth Opportunities in Intraocular Lens Market
The global intraocular lens market is shifting from monofocal IOLs to premium IOLs/advanced technology IOLs. There lies a huge untapped potential market in the premium IOLs/advanced technology IOLs segment as current penetration stands at 7% outside the USA and 14% in USA. The relatively higher pricing of premium IOLs/advanced technology IOLs is expected to drive the IOLs market value in the upcoming years.
Technological Advancements in Intraocular Lens are Driving the Intraocular Lens Market
The global intraocular lens market is expected to be bolstered by recent and consistent technological advancements. For instance,
In September 2022, Alcon introduced Clareon Toric IOL at the American Academy of Ophthalmology (AAO) 2022 annual meeting in Chicago, U.S., and completed the Clareon Collection. Clareon Toric is a glistening-free toric intraocular lens with exceptional clarity and unrivaled stability. It was rolled out across select practices in US.
“Approximately 2.2 billion people globally suffer from impaired vision, and nearly 20% (200 million) people worldwide suffer vision impairment or blindness caused by cataract or uncorrected refractive error. There is a pressing need to increase manufacturing operations related to IOLs in order to cater to growing eye health needs.”–Operations Director, Leading IOL Manufacturer, U.S.
Organic and Inorganic Growth Strategies Adopted by Leading Market Players to Establish Their Strong Foothold in Intraocular Lens Market
The leading players operating in the global intraocular lens market have adopted both organic and inorganic growth strategies such as new product launches, expansion, investments, acquisitions, partnerships to garner a higher market share. For instance,
In September 2022, Johnson & Johnson Vision announced the availability of presbyopia-correcting intraocular lens (PC-IOL) powered by InteliLight technology, TECNIS Symfony OptiBlue IOL. The extended-depth-of-focus (EDOF) lens expands presbyopia correction to more patients and joins TECNIS Synergy IOL, a high-performance hybrid lens designed for spectacle independence, in the InteliLight portfolio.
The outlook for the intraocular lens market looks quite promising due to an increasing geriatric population and cases of cataract, technological advancements in IOLs, increased access to care, continued investment in promotion and customer education by IOL manufacturers across the world, a growing number of eye care professionals and dedicated eye hospitals, improving technology access and better patient awareness, and increasing government initiatives and awareness initiatives to control and treat blindness.
Competitive Landscape Analysis: Intraocular Lens Market
The intraocular lens market is marked by the presence of established market players such as Alcon, Johnson & Johnson Vision, Bausch + Lomb, and Zeiss. Other players operating in the market are HOYA Surgical Optics, BVI (Subsidiary – PhysIOL), Rayner Intraocular Lenses, SAV-IOL, SIFI S.p.A, Ophtec, STAAR Surgical Company, among others.
Get Detailed Insights on Intraocular Lens (IOLs) Market with a Sample Report PDF @ https://meditechinsights.com/intraocular-lens-market/
About Medi-Tech Insights:
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.
Associate, Medi-Tech Insights
+32 498 86 80 79
Cathie Wood’s Ark Investment Management has bought over 1.3 million shares of Coinbase Global since the start of November, and 450,000 shares of Grayscale Bitcoin Trust (GBTC).
Gold ended nearly flat, finding support as a sharp bounce by the U.S. dollar ran out of steam, while investors awaited more cues on the Federal Reserve’s monetary policy path
Dollar Tree's (DLTR) Q3 results reflect gains from strong sales trends across both banners, offset by soft margins due to increased demand for low-margin consumables goods and inflationary costs.
Private equity firm Stonepeak Partners is aiming to raise between $15 billion and $20 billion for its next flagship North American infrastructure fund to invest in assets such as utilities, data centers, ports and railways, according to people familiar with matter. Stonepeak completed raising $14 billion for such a fund only nine months ago. Private equity funds of this size are typically spaced out by at least a couple of years to have enough time to deploy their capital.
American Woodmark (AMWD) delivered earnings and revenue surprises of 29.48% and 3.60%, respectively, for the quarter ended October 2022. Do the numbers hold clues to what lies ahead for the stock?
Environmental, Social and Governance (ESG) criteria continue to be at the forefront of ETF issuers' minds. This piece will take a look at the latest ESG offering from Blackrock/iShares that focuses on real estate. The iShares Environmentally Aware Real Estate ETF was launched last Tuesday, Nov. 15, and sports a 30-basis-point expense ratio, meaning that a shareholder with $1,000 invested over a calendar year would pay $30 in fees over that period.
(Bloomberg) — Kuaishou Technology’s revenue beat estimates, holding its own against a slowing Chinese economy and competition from TikTok owner ByteDance Ltd.Most Read from BloombergElizabeth Holmes Judge Proposes Texas Prison, Family VisitsTrump Had Losses of $900 Million in Two Years, Jury ToldHow Bad Will Housing Get? The Chill Gripping a Once-Hot Market Offers a TestBankman-Fried Says Collateral Crashed by $51 Billion as FTX FellRevenue was 23.13 billion yuan ($3.2 billion) for the three mo
Chico's (CHS) delivered earnings and revenue surprises of 53.85% and 2.03%, respectively, for the quarter ended October 2022. Do the numbers hold clues to what lies ahead for the stock?
Bob Lang and J.D. Durkin discuss the technical landscape, the latest PMI data and the FOMC minutes ahead of the Thanksgiving holiday.
Zoom Video reported Q3 earnings that topped estimates amid lowered expectations. But guidance came in below Wall Street targets.
Over the last month, BBY shares have tacked on 10% in value, easily outpacing the S&P 500.
Abercrombie & Fitch Co (NYSE: ANF) reported a third-quarter FY22 sales decline of 3% year-on-year to $880 million, beating the consensus of $831.13 million. Adjusted EPS of $0.01 beat the consensus of $(0.15). U.S. sales increased 3% Y/Y while International sales declined 18%. The gross profit margin compressed 450 basis points to 59.2%. The operating income for the quarter was $17.5 million versus $72.73 million a year ago, with the margin shrinking from 8% to 2%. The company held $257 million
A U.S. or global recession in 2023 may not be most people's base case forecast, but the risks are sufficient enough for investors to be positioning accordingly as this year draws to a close. Yet equity and bond markets appear to be sending conflicting signals. The VIX index of implied volatility hit a three-month low of 21.45 on Tuesday and has now fallen five days in a row, the longest run of declines since May.
Media group Vivendi's proposed acquisition of rival Lagardere is likely to face a full-scale EU antitrust investigation, people close to the matter said on Tuesday. The proposed deal would combine France's two biggest publishing groups, Lagardere's Hachette and Vivendi's Editis, and has come in for criticism from rivals including Gallimard. To resolve European Union antitrust concerns, Vivendi's top investor – billionaire Vincent Bollore – would sell all Editis shares he would receive after the transaction, which would consist of a simultaneous distribution of the publishing unit's shares to Vivendi shareholders and its listing.
DCG owes its Genesis unit around $575 million that is due in May 2023, in addition to a $1.1 billion promissory note to Genesis due in June 2032.
TikTok is hit or miss for accurate advice on finance topics. Although the "#finance" hashtag has amassed over 989 million views, there is just as much bad advice as there is good. But one user shared a tip that went … Continue reading → The post TikTok Exposed a Major Mistake You May be Making in Your Roth IRA appeared first on SmartAsset Blog.
The U.S.-listed shares of Tencent Music Entertainment Group surged 3.6% in afternoon trading Tuesday, after J.P. Morgan recommended investors buy into the China-based streaming music and audio entertainment company, as the online music business has evolved from being a cost center to a profit driver. Analyst Alex Yao raised his rating to overweight, after being at neutral for the past 15 months, while boosting his stock price target to $7.70 from $4.80. As Tencent's online music business has gro
Events to watch heading into Tuesday include 3Q earnings reports by retailers, Wednesday's Federal Reserve minutes release and a possible rail strike update.
Spire's (SR) fourth-quarter earnings were lower than expected. Given the expectation of strong future performance and growth, management of SR has raised its quarterly dividend by 5.1%.
GE (GE) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.