Aphakia Market Highlights
Changing lifestyle and increasing geriatric population have increased the probability of causing aphakia. Additionally, increasing need for the cost-effective treatment and increasing per capita income have fuelled the market growth. However, limited treatment options and high cost of the surgery may affect the growth of the market over the assessment period, negatively.
The Global Aphakia Market is expected to grow at a CAGR of 9.2% during the forecast period 2017-2023. Aphakia is the absence or dislocation of lenses. Increasing prevalence of diabetes & other diseases, rising demand for the better treatment, and increasing number of ophthalmic surgeries drives the growth of the market. According to World Health Organization, in 2014, 285 million people were visually impaired across the globe and about 24.4 million American aged over 40 and half of the people who are over 75 have cataracts problem. Furthermore, in 2014, glaucoma affected over 2.7 million Americans of age 40 and older.
Aphakia Market Regional Analysis
The Americas commands the major share of the market owing to the large patient population, strong government support for research & development, growing prevalence of diabetes and aphakia and huge geriatric population.
Europe holds the second position in the global aphakia market followed by Asia Pacific. The growth of the European market is majorly attributed to the increasing geriatric population, government support, and well-developed healthcare sector.
Asia Pacific is the fastest growing aphakia market. Japan, China, and India are the key contributor to the market growth due to rapidly growing economy, increasing healthcare expenditure, and huge population base. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. The Middle East & Africa holds the least share of the global market due to limited availability of medical facilities and poor economic condition in African region.
Aphakia Market Segmentation
The global aphakia market is segmented on the basis of types, causes, treatment, and end user.
On the basis of type, the market is segmented into primary and secondary.
On the basis of cause, the market is categorized into congenital aphakia, surgical aphakia, acquired aphakia, and others. The acquired aphakia is further segmented into traumatic extrusion, posterior dislocation, couching, and other.
On the basis of treatment, the market is segmented into spectacles, contact lenses, intraocular lens implantation, refractive surgery, and others. The spectacles are sub-segmented into +10D, +3-4D, and other. The refractive surgery is further segmented into keratophakia, epikeratophakia, and hyperopic lasik.
On the basis of end user, the market is segmented into hospitals, ophthalmic clinics, and others.
Aphakia Market Key Players
Some of key the players in the market are Johnson & Johnson Services, Inc. (US), Ophtec BV (Netherland), Alcon Laboratories, Inc. (Switzerland), Bausch & Lomb (US), Carl Zeiss AG (Germany), Rayner Company (US), Bohus BioTech AB (Sweden), CooperVision, Inc. (US), Lifecore Biomedical, LLC (US), Aetna Inc. (US), Ciba Vision (Switzerland), and Menicon (Singapore).
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