Intraocular Lens Injectors Market Trends

Growth Drivers

• Growing prevalence of eye disease among the geriatric population - As per WHO, the geriatric population aged above 60 is foreseen to reach 2.1 billion by 2050.  Cataracts are the most prevalent form among all the eye diseases that affect old people due to which the utilization of steroids is also growing among them.
  
  This is because elder people face several heart and kidney problems along with a fall in energy levels. Hence, steroids are assessed to tackle this issue and boost the energy level in them. However, long-term use of steroids is considered to be a major factor for the increasing eye problems among them.
• Surging government initiatives - Governments across the globe are launching various initiatives regarding eye disease among people. Further, they are also holding campaigns to treat patients with eye diseases. As a result, more people are becoming aware about the eye disorders, and their treatment which includes surgeries for which intraocular lens injectors are required.
  
  In 2022, the Love Your Eyes campaign was launched by the International Agency for the Prevention of Blindness (IAPB) which observed over 19 parliament screenings, close to 6 million pledges from consumers, approximately 11,345 media pieces, and about 541 million media impressions. Furthermore, this campaign is set to focus on workplace eye conditions.
• Increasing scope for the enhancement of intraocular lens injectors - The healthcare sector is being significantly influenced by advancements in technology. Using AI is one such advancement that has created great scope for intraocular lens injectors market expansion.
  
  For instance, the researchers have concluded that in contrast to the manual procedure of prediction, AI may enhance the accuracy of estimating IOL size and if it is suitable for high myopic patients. Some of the instances of AI based prediction systems include the Hill-radial basis function (RBF) formula and the Kane formula which have further earned huge importance in recent years.
• Increasing cases of myopia - Since the outrage of COVID-19, the utilization of mobile phones has increased notably leading to multiple eye illnesses. Presently, about 5 billion individuals are utilizing smartphones, as it has become a necessary part of everyday life.
  
  However, this rise in exposure to screens has encouraged a rise in cases of myopia and the use of contact lens. As per the International Myopia Institute, nearly 50% of the world’s population will be myopic by 2050.

Challenges

• Growing price of intraocular lens - Unconventional IOL injector designs, and limited competitors are also influencing the price of this product. This is considered to be the biggest hindrance in low-income regions. Furthermore, limited access to advanced IOL technologies is also projected to restrict the market revenue.
• Lack of skilled workers to handle the lens injectors - With the growing enhancement of technology, very few workers are able to manage them efficiently. In addition, the extra cost is required to train the employees, thus, the intraocular lens injectors market might suffer loss in the future.