Johnson & Johnson’s recent FDA approval for a drug-eluting contact lens has changed the game for contact lens wearers suffering from allergic eye itch. Now, medtech analysts at Needham & Co. have issued a report taking a closer look at both the contact lens and intraocular lens markets, noting how both are poised for growth. The report follows the firm’s coverage initiation of Alcon, Cooper Companies, RxSight, and STAAR Surgical. The analysts see a mix shift toward premium lenses as a durable growth driver for the roughly $9B contact lens market. Intraocular lenses, which are implanted during cataract procedures to replace the patient’s natural lens, are also advancing. The analysts estimate the intraocular lens market is currently valued at about $3B.

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