Intraocular Lens Market: Summary
The Global Intraocular Lens Market is projected to reach a value of USD 6.08 billion by 2027 at a CAGR of 5.6%.
An intraocular lens implant is referred to as the synthetic lens implanted in the eye for treating the refractive errors. It is mainly used for treating the refractive errors or vision correction and eye disorders such as cataract, glaucoma, diabetic retinopathy, amblyopia and others. The growth of the global intraocular lens market is driven by growing prevalence of eye disorders, rise in the elderly population with diabetes, which are more prone the eye diseases requiring intraocular lens implant. On the flip side, relatively expensive intraocular lens compared to contact lens is hampering the market growth.
Intraocular Lens Market: Market Dynamics
- Increasing Prevalence of Eye Disorders
- Visual impairment has emerged as the global health concern creating adverse effect of the physical and mental health
- As per the American Academy of Ophthalmology (AAO), indicated that around 50 million of the American population affects from vision-impairing cataracts till 2050 from 25 million from 2019.
- Increasing prevalence of the cataract patients across the globe with higher availability of the treatment options available in the intraocular lenses (IOLs), is fueling the market growth
- In 2020, the Statistics on Eye Disease in America revealed that 1 billion of the total global population suffers from visual impairment owing to unaddressed refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal opacities (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million) and unaddressed presbyopia (826 million)
- Rise in The Elderly Population
- Aged population across the world is significantly growing those are more susceptible to the aged related eye-disorders.
- According to World Health Organization, the global aged population (over 60 age) would rise to 22%, i.e. nearly double from 12% in 2015.
- Diabetes is one of the chronic conditions impacts the life of the older adults and also escalates the overall public health burden, resulting into diabetic retinopathy and other diseases.
- The Centers of Disease Control and Prevention study revealed that in 2016-2017 the 32% of the total US diabetic population over aged 45 suffers from cataract, among which 9.2% had vision loss.
- Owing to rapidly rising aged population coupled with increased prevalence of the diabetes in them, is expected to drive the demand for intraocular lens market to treat eye-diseases
- Favorable Government Support
- Higher Cost of Intraocular Lens Implant Compared to Contact Lens Correction
- Poor Reimbursement Scenario
Intraocular Lens Market: Key Segments
The Intraocular Lens market is majorly segments into type, form, material and end-user.
- On the basis of type, the market is bifurcated into pseudophakic iols and phakic iols
- On the basis of product, the market is bifurcated into monofocal iols, toric iols, accommodating iols, and multifocal iols
- On the basis of form, the market is sub segmented into rigid and flexible. Among these, the flexible iols has dominated the segment owing to advanatages such as smaller incision and rapid recovery associated with it.
- On the basis of material, the market has been segmented into polymethylmethacrylate (PMMA), silicone, hydrophobic acrylic and others
- On the basis of end-user, the market has been segmented into hospital, ophthalmology clinic, ambulatory surgical center and eye research institutes
Intraocular Lens Market: Key Regions
On the basis of region, the market is divided into Americas, Europe, Asia Pacific, Latin America, Middle East & Africa. The Americas lead the global intraocular lens market by accounting for highest market share owing to the increase prevalence of the eye disorders especially among the aged population. Also, presence of the major manufacturers such as Johnson and Johnson Services Inc., Bausch & Lomb Incorporated, and STAAR SURGICAL among others is driving growth of this market in Americas.
Intraocular Lens Market: Report Scope
The report on the Intraocular Lens market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
2020-2027 (2020 estimated year, forecast up to 2027)
Value (USD Million)
Type, Form, Material and End-user
Americas, Europe, Asia-Pacific and Middle East & Africa
Key Companies Covered
- Alcon (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)
- Bausch & Lomb Incorporated
- Carl Zeiss Meditec AG
- HOYA SURGICAL OPTICS
- Johnson & Johnson Services, Inc.
- Ophtec BV
- Rayner Intraocular Lenses Limited
- STAAR SURGICAL
- Other Key Companies
Intraocular Lens Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Intraocular Lens Market, by Type
- Pseudophakic IOLs
- Phakic IOLs
Intraocular Lens Market, by Product
- Monofocal IOLS
- Spheric Monofocal IOLS
- Aspheric Monofocal IOLS
- Toric IOLs
- Accommodating IOLs
- Multifocal IOLs
Intraocular Lens Market, by Form
Intraocular Lens Market, by Material
- Polymethylmethacrylate (PMMA)
- Hydrophobic Acrylic
Intraocular Lens Market, by End-user
- Ophthalmology Clinic
- Ambulatory Surgical Center
- Eye Research Institutes
Intraocular Lens Market, by Region
- North America
- Latin America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Intraocular Lens Market Providers
- Intraocular Lens Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Intraocular Lens Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INTRAOCULAR LENS MARKET STUDY