According to the research report titled ‘Global Phakic Intraocular Lenses (IOL) Market Size study, By Product (Posterior Chamber Phakic IOL, Anterior Chamber Phakic IOL), By Indication (Myopia, Hyperopia, Astigmatism), By End User (Hospitals, Ophthalmology Clinics, Ambulatory Surgical Centers), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global phakic intraocular lenses (IOL) market is anticipated to expand at a healthy CAGR during 2022-2028.

Report findings suggests that increasing incidences of myopia along with rising awareness towards phakic lens implant surgery, and surging initiatives of well-known players are the major growth stimulants for global phakic intraocular lenses (IOL) market.

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For the unversed, phakic lenses, also known as phakic intraocular lenses (IOLs), are lenses made of silicone or plastic that are permanently implanted into the eye to lessen a person's need for glasses and contact lenses. These lenses are used to repair refractive errors and mistakes in the eye's focusing ability.

Furthermore, expanding healthcare sector in emerging nations in consort with rising per capita healthcare spending are expected to bolster industry expansion in the coming years.

However, availability of alternative treatment options and a lack of reimbursements for implantation procedures may stifle market development during 2022-2028.

Based on product terrain, worldwide phakic intraocular lenses (IOL) industry is split into anterior chamber phakic IOL and posterior chamber phakic IOL. In terms of indication, the market is divided into astigmatism, hyperopia, and myopia. On the basis of end user ambit, the industry is branched into ambulatory surgical centers, ophthalmology clinics, and hospitals.

Regionally, North America market is dominating the market share at present and is poised to record substantial traction during the stipulated timeline, owing to rising number of product clearances and the presence of major market competitors in the region. Whereas Asia Pacific industry is poised to grow notably between 2022-2028, due to expanding healthcare sector and rising rates of myopia in the region.

The leading players in global phakic intraocular lenses (IOL) industry are Hoya Corporation, Aurolab, Carl Zeiss AG, Omni Lens Pvt Ltd., USIOL Inc., STAAR Surgical Company, Johnson & Johnson (J&J), Ophtec BV, Care Group, and Rayner Surgical Group Limited.