PRNewswire
US Market for Intraocular Lens to Exceed $980 Million in 2011
Millennium Research Group
forecasts that the US will rapidly adopt advanced intraocular lenses (IOL),
while inflexible reimbursement programs in Europe and Japan will delay the
adoption of these vision-enhancing devices. According to Millennium
Research Group's global cataract reports, including US Markets for Cataract
and Refractive Devices, European Markets for Cataract and Refractive
Devices, and Japanese Markets for Cataract and Refractive Devices, the US
IOL market will surpass $980 million in 2011, compared to only $458 million
in Europe and Japan combined.
The US market for IOLs is expected to grow significantly over the next
5 years, based on the growth of advanced IOL technology. Presbyopic IOLs
and IOLs with aspheric optical profiles will grow significantly due to
heavy marketing campaigns by Alcon and AMO, the introduction of new lenses,
and increased training of physicians to implant such IOLs.
The defining factor between the US IOL market and the rest of the world
however is reimbursement. In many European countries every cataract
procedure is reimbursed at a fixed amount, therefore premium priced
advanced IOLs are only used in out-of-pocket procedures. In contrast,
reimbursement in the US is far more generous. IOLs that have been granted
New Technology IOL (NTIOL) reimbursement status receive additional Medicare
reimbursement of $50 per lens for procedures carried out in ambulatory
surgical centers. Such NTIOL status is achieved by demonstrating clinical
advantages and superior design. The future growth of the European advanced
IOL market is highly contingent on a price reduction by manufacturers or
increased reimbursement. As a result the market for less costly traditional
monofocal IOLs (Hydrophobic, hydrophilic, silicone and PMMA) will remain
strong in Europe over the next 5 years.
"Advanced IOL technology has had slow adoption in Japan mainly because
of low reimbursement rates and a slow approval process," says Cheyne Singh,
Analyst at MRG. "Many industry-insiders consider the Japanese medical
device regulatory approval process to be costly, time consuming, and a
major hindrance in developing the Japanese IOL market."
In 2007, the majority of cataract procedures in Japan were carried out
using hydrophobic IOLs, and their usage is forecasted to increase over the
next 5 years. The Japanese IOL market will also gain considerable value
from the increasing use of premium priced preloaded IOL injector systems.
The US Markets for Cataract and Refractive Devices 2007 report includes
coverage of many industry competitors, including Alcon, AMO, Bausch & Lomb,
Carl Zeiss Meditec, Eyeonics, Staar Surgical, Moria, IntraLASE, Wavelight,
Nidek, Corneal, Rayner, Schwind eye-tech-solutions, Oertli, Lumenis, Hoya
Corporation, Quantel, Ellex, A.R.C. Laser, Human Optics, and Santen, among
others.
About Millennium Research Group
Millennium Research Group (http://www.MRG.net), a Decision Resources, Inc.
company (http://www.DecisionResources.com), is the global authority on medical
technology market intelligence and a leading provider of strategic
information to the health care sector. Focused solely on the medical
device, pharmaceutical, and biotechnology industries, the company provides
its clients with the benefits of its specialized industry expertise through
published reports and customized consulting services.
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