Ocular Implants Market Share, Development and Demand Forecast Report 2030

NEW YORK - Sept. 25, 2023 - PRLog -- According to the latest market research study published by P&S Intelligence, the ocular implants market will touch USD 17,279.4 million, propelling at a 6.2% compound annual growth rate, by 2030.

The growth of the industry is because of the amplified incidence of ophthalmologic illnesses including age-related macular degeneration (AMD) and glaucoma, the increasing elderly population, surging funding in research & development of innovative products, and the addition of eye care services in the insurance system.

Advancements in ocular diagnostic technology have led to increased acceptance of products. These innovative technologies are benefiting in improving the results of eye surgeries and creating new approaches to seeing for blind individuals.

Therefore, the increasing adoption of advanced ocular equipment, for instance, bionic or artificial glaucoma and eye devices, has shaped various opportunities for the players in the industry.

In recent years, the intraocular lenses category, based on product, held the largest ocular implants market share. This is attributed to the widespread utilization of intraocular lenses in the treatment of farsightedness, presbyopia, and near-sightedness. Moreover, increased consciousness and advancement in technology in emerging economies are also likely to boost the growth of this category.

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North America accounted for a significant share in recent years. This is because of the growing count of eye procedures and the existence of major players in the continent. Additionally, businesses in the region are increasing their focus on both developed and developing continents to take benefit of all untouched prospects.

It is because of the rising incidence of ophthalmologic illnesses and increasing consciousness of comprehensive eye care services, the ocular implants industry will continue to advance in the years to come.