Surge in cataract surgeries fuels intraocular lens market to almost $1.4 billion

According to two new reports by iData Research (www.idataresearch.net), the leading global authority in medical device and pharmaceutical market research, growth in the use of optical coherence tomography (OCT) for the detection of ocular conditions will drive the U.S. diagnostic ophthalmic market to over $650 million by 2017. In addition, the U.S. contact lens market is expected to reach over $4.6 billion due to increased use of soft contact lenses and daily disposables by the aging baby-boomer generation. Companies such as Johnson & Johnson, CIBA Vision and CooperVision have emerged as the leading contact lens manufacturers in 2010.

"OCT sales slowed in 2009 due to the recession, however their use is growing in popularity among optometrists and ophthalmologists despite rising prices," says Dr. Douglas Fung, Analyst Manager at iData. "This growth is due to the technologies' superior resolution capabilities and ability to image the vascular structure under the retina. Physicians are expected to purchased second and third OCT units for their practices, leading to double-digit growth rates through 2013." 

iData's reports state that the non-mydriatic/mydriatic combination fundus camera segment was one of the fastest-growing in the diagnostic ophthalmic market, increasing at a CAGR of over 15% in 2010.

"Fundus cameras help to diagnose conditions such as diabetic eye disease, glaucoma and macular degeneration," says Dr. Fung. "The market is being driven by sales of combination devices from companies such as Topcon and Canon, which provide a cost-effective all-in-one solution."

iData's interventional ophthalmic report states moreover that the intraocular lens market is expected to reach almost $1.4 billion by 2017 due to advances in accommodative lenses that mimic the eye's natural ability to focus. Abbott's Synchrony® accommodative IOL is expected to gain FDA approval in 2011.