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The global intraocular lens market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
An intraocular lens (IOL) is a medical implant used to replace the focusing power of a natural lens removed during cataract surgery. It is also utilized during vision correction surgery in refractive lens exchange. It is generally made using silicone, acrylic, and other plastic compositions and coated with a unique material to protect the eyes from harmful ultraviolet (UV) rays. At present, several manufacturers are offering a wide variety of premium products with different focusing powers based on the axial length of the eyes and curves of the cornea.
With age, proteins in the eye change and parts of the lens turn cloudy, thereby increasing the risk of developing cataracts. This, in confluence with the significant aging population, represents one of the key factors catalyzing the demand for IOLs around the world. Moreover, as pediatric cataract cases lead to blindness, the rising concerns among parents about their children’s health are positively influencing the market. Additionally, governing agencies of numerous countries, along with non-governmental organizations (NGOs), are supporting free eye examinations and surgery, along with health reimbursements, which is propelling the market growth. Apart from this, the leading players are introducing trifocal lenses that eliminate the need for spectacles. They are also investing in research and development (R&D) activities to provide advanced lenses that help patients with near and distant vision. Such advanced solutions are anticipated to propel IOL market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global intraocular lens market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product, material and end user.
Breakup by Product:
Breakup by Material:
Breakup by End Use:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung), EyeKon Medical Inc., Hoya Corporation, HumanOptics AG, Johnson & Johnson, Lenstec Inc., Rayner Intraocular Lenses Limited and STAAR Surgical Company.
|Base Year of the Analysis||2020|
|Segment Coverage||Product, Material, End User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung), EyeKon Medical Inc., Hoya Corporation, HumanOptics AG, Johnson & Johnson, Lenstec Inc., Rayner Intraocular Lenses Limited and STAAR Surgical Company.|
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We expect the global intraocular lens market to exhibit a CAGR of around 5% during 2021-2026.
The rising prevalence of cataract particularly among the geriatric population, along with the introduction of trifocal lenses that eliminate the need for spectacles, is primarily catalyzing the global intraocular lens market.
The sudden outbreak of the COVID-19 pandemic had led to the postponement of numerous elective vision correction surgeries to combat the risk of coronavirus infection upon hospital/clinic visits.
Based on the product, the global intraocular lens market can be segmented into Monofocal IOL, Multifocal IOL, Toric IOL, and Accommodative IOL. Currently, Monofocal IOL holds the majority of the total market share.
Based on the material, the global intraocular lens market has been divided into Polymethylmethacrylate (PMMA), silicone, and hydrophobic acrylic, where silicone currently exhibits a clear dominance in the market.
Based on the end use, the global intraocular lens market can be categorized into hospitals, ophthalmic clinics, ambulatory care centers, and eye research institutes. Among these, hospitals account for the majority of the global market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global intraocular lens market include Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung), EyeKon Medical Inc., Hoya Corporation, HumanOptics AG, Johnson & Johnson, Lenstec Inc., Rayner Intraocular Lenses Limited, and STAAR Surgical Company.
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