The Aphakia Market is expected to reach USD 3.9 Billion by 2032 at 11.3% CAGR during the forecast period 2024-2032. Aphakia describes the absence or dislocation of the crystalline eye lens.
It is the most commonly occurs due to the presence of diseases such as trauma and congenital conditions or after surgery for cataract removal.
Increasing prevalence of diseases such as diabetes & trauma and increasing number of accident have boosted the market growth of the aphakia. According to World Health Organization (WHO), in 2014, 285 million people were visually impaired across the globe in which 246 million had low vision and 39 million were completely blind. Additionally, According to the WHO, 422 million people have diabetes and this number is increasing at the rate of 8.5%.
Moreover, increasing geriatric population, rapidly developing healthcare sector, and increasing demand for the better treatment of the ophthalmic diseases fuel the market growth. On the other hand, the high cost of the surgery and limited availability of the treatment may slow the market growth.
Intended Audience
The aphakia market has been segmented on the basis of types, causes, treatment, and end user.
The aphakia market by type is segmented into primary, and secondary.
The aphakia market by causes is categorized into congenital aphakia, surgical aphakia, acquired aphakia, and others. Acquired aphakia is further segmented into traumatic extrusion, posterior dislocation, couching, and other.
The aphakia market by treatment is segmented into spectacles, contact lenses, intraocular lens implantation, refractive surgery, and others. The spectacles are sub-segmented into +10D, +3-4D, and other. Refractive surgery is further segmented into keratophakia, epikeratophakia, and hyperopic LASIK.
The aphakia market by end user is segmented into hospitals, ophthalmic clinics, and others.
The Americas dominates the aphakia market owing to the increasing prevalence of people with aphakia. It was estimated that 6.1 million (5.1%) of Americans have pseudophakia/aphakia. Additionally, well-developed technology, huge diabetic population, and strong government support for research & development will fuel the market growth.
Europe is the second leading market across the globe, which is followed by Asia Pacific. Availability of funds for research, huge geriatric population and government support for research & development will drive the market.
Asia Pacific is the fastest growing aphakia market due to the presence of rapidly growing economy, huge patient pool, increasing prevalence of ophthalmic diseases, and presence of huge geriatric population.
On the other hand, the Middle East & Africa holds the least share of the market owing to less availability of funds, limited availability of medical facilities, and poor political conditions in Africa.
Key Players
| Report Attribute/Metric | Details |
| Market Size | USD 3.9 Billion |
| CAGR | 11.3% |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Types, Causes, Treatment, and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | 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) |
| Key Market Opportunities | New product launches and R&D Amongst major key Players |
| Key Market Drivers | · Increasing geriatric population · Rapidly developing healthcare sector · Increasing demand for the better treatment of the ophthalmic diseases |
Frequently Asked Questions (FAQ) :
Aphakia market is projected to grow at a 11.3% CAGR between 2024-2032.
The Americas is expected to dominate theaphakia market.
Ophthalmic clinics, hospitals, and others are the major end users of aphakia market.
Developing healthcare sector and rising geriatric population are the key factors driving the aphakia market growth.
Limited availability of treatment and high surgery cost are factors that may limit the aphakia market growth.
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Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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