Vishnupriya
London: The intraocular lens market of China is expected to grow at 2 per cent compounded annual growth rate CAGR through 2033 on the back of rising high-degree cases of myopia in the country.
As per a report from data-analytics agency, GlobalData, China accounted for about 25 per cent of the Asia-Pacific (APAC) intraocular lens market and the increasing prevalence of myopia, particularly in high-degree refractive cases, is becoming a significant public health concern where intraocular lens can offer a better solution and as an emerging trend, the lens market is set to grow at a 2 per cent compound annual growth rate (CAGR) during 2024-33.
Interestingly, some of the estimates from other market research organisations suggest that the chinese intraocular lens market generated a revenue of $ 154.4 million in 2022 and projected it to reach $245.3 million by 2030 at a CAGR of 6 per cent.
Kanchan Chauhan, Medical Devices analyst at GlobalData, commented, “As myopia rates continue to climb, particularly among patients with high refractive errors, the limitations of traditional corrective methods become increasingly evident. There is a critical need for effective options that provide lasting improvements in visual clarity and stability, particularly for individuals with high myopia.”
“The demand for durable and effective solutions is growing as patients become more involved in their treatment decisions, there is significant potential for new, consumer-centric approaches to emerge,” he added.>
