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The global intraocular lens market is primarily driven by the rise in ageing population. As more paediatric cataract cases result in blindness, parents' concerns about their children's health are having a favourable impact on the market. Also, governments and non-governmental organisations (NGOs) in several countries are supporting free eye exams and surgery, and health reimbursements, which is pushing the industry forward. Increased ocular difficulties and occurrences of cataracts in the diabetic population are also driving the market. Due to overly active social media platforms, rapid digitalisation, and increased usage of electronic devices such as mobile phones, computers, tablets, and laptops, among others, are leading to a high risk to their eyesight ability. In addition, a large fraction of adults over 60 are likely to be impacted by chronic ocular disorders that necessitate eye adjustments. As a result of this unhealthful tendency, the need for intraocular lens treatment is increasing.
Companies' increasing focus on emerging markets provides considerable growth prospects for intraocular lens market players, promoting market growth. For instance, Johnson & Johnson (NYSE: JNJ) Vision's Tecnis Synergy and Tecnis Synergy Toric II intraocular lenses were approved by the United States Food and Drug Administration in July 2021. Such developments are likely to continue bolstering the market growth in the forecast period.
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The major players in the global intraocular lens market are Johnson and Johnson Vision Care, Inc., Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, EyeKon Medical, Inc., and HumanOptics AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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