Australia Intraocular Lenses Market By Material

Synopsis
The above chart is Australia Intraocular Lenses Market By Material 2018-2027 (USD Million)

Market Dynamics

australia has emerged as a major player in the global intraocular lenses market. an intraocular lens (iol) is a small, artificial lens that is implanted into the eye during cataract surgery or for vision correction purposes. this market is primarily driven by the rise in the prevalence of cataracts and other age-related eye disorders, advancements in technology, and the increasing number of ophthalmic surgeries in the country. one of the key factors contributing to the demand for intraocular lenses in australia is the high prevalence of cataract among the aging population. according to data from the australian institute of health and welfare, cataract surgery was the most common surgical procedure in the country in 2018-2019, with over 245,00 procedures performed. with the aging population in australia projected to continue growing, the demand for iols is expected to rise significantly. another factor driving the demand for intraocular lenses is the growing trend towards premium lenses. these lenses offer benefits such as improved visual acuity, reduced dependence on glasses, and enhanced functional vision. this trend is expected to further fuel the growth of the iol market in australia as more individuals are willing to invest in these advanced lenses for better visual outcomes. in terms of material, demand for hydrophobic acrylic lenses is expected to dominate the market in australia. these lenses have a higher refractive index, are more resistant to damage, and provide improved visual clarity compared to other materials. additionally, advancements in hydrophobic acrylic technology, such as the introduction of multifocal and trifocal lenses, are also contributing to the demand for these lenses. aside from cataract surgery, iols are also used for vision correction purposes, such as in refractive lens exchange surgeries. this is becoming increasingly popular in australia, particularly for individuals with high myopia or hyperopia, as it provides a permanent solution to correct their vision without the need for glasses or contact lenses. in conclusion, the demand for intraocular lenses in australia is being driven by several factors, such as the high prevalence of cataracts and other eye disorders, the trend towards premium lenses, and advancements in technology. this has led to a competitive market with various companies introducing innovative products to cater to the growing demand for iols in the country.