Intraocular Lens (IOLs) Market
Intraocular Lens (IOLs) Market Size, Share & Trends Analysis Report by Product Type (Monofocal IOLs, Multifocal IOLs, Toric IOLs, and Accommodative IOLs), and by End-User (Hospitals, Ophthalmic Clinics, Ambulatory Surgery Centers, and Eye Research Institutes) Forecast Period (2022-2028)
intraocular lens market is anticipated to grow at a considerable CAGR of 4.2% during the forecast period. IOLs are implantable medical devices used for vision correction. The major factor propelling the market growth includes the increasing ophthalmic issues along with the rising prevalence of cataracts which employs IOLs. As per the data released by National Eye Institute, in 2020, the US recorded 7.7 million diabetic retinopathy cases and 24 million cataract cases. These cases are expected to reach 11.3 million and 38 million by 2030 and 50 million by 2050. Thus, an rising in the number of ophthalmic cases across the globe is anticipated to positively impact the growth of the IOL market.
However, several factors such as the high cost associated with IOLs, the lack of reimbursement policy, and supportive government initiatives for premium lenses, are hampering the market growth.
Segmental Outlook
The global intraocular lens market is segmented based on product type and end-user. Based on product type, the market is segmented into monofocal IOLs, multifocal IOLs, toric IOLs, and accommodative IOLs. Based on the application, the market is sub-segmented into hospitals, ophthalmic clinics, ambulatory surgery centers, and eye research institutes. Among the application segment, the ophthalmic clinic segment is expected to witness the fastest growth attributed to the rise in several ophthalmic clinics, coupled with reduced length of stay, and ease of scheduling appointments. As these ophthalmic clinics are not affiliated with any hospitals, the rising number of eye care practitioners and clinics is predicted to increase the competition among all service providers. The availability of services at competitive prices is another factor propelling growing the number of patients that are opting to get treatment from these clinics is influencing the segmental growth in the market.
The Accommodative Intraocular Lenses (IOLs) Segment is Anticipated to Hold a Prominent Share in the Market
The accommodative IOLs segment is anticipated to hold a prominent share in the market due to in comparison to monofocal IOLs these lenses are prone to accommodate well with post-surgical changes. These lenses are majorly used in the treatment of presbyopia and astigmatism. The growing number of eye disorders and the increased number of eye surgeries are major factors influencing the market growth. They are also widely preferred by patients suffering from macular degeneration, which is also propelling market growth. According to the data released by BrightFocus Foundation, in July 2021, approximately 11 million people in the US are suffering from age-related macular degeneration, and is predicted to reach 22 million by 2050. It also stated that the number of people living with macular degeneration will increase to 288 million by 2040 across the globe.
Regional Outlooks
The global intraocular lens market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East &Africa, and Latin America. The North American region is predicted to dominate the market due to the well-established healthcare infrastructure in the region and the highly advanced adoption of new technologies.
Global IOL Market Growth, by Region 2022-2028
The Asia-Pacific Region is Anticipated to Witness the Fastest Growth in the Global IOL Market
The region is expected to witness the fastest growth in the IOL market owing to the increasing geriatric population and diabetic population, who are prone to cataracts and other ocular illnesses and diseases. Moreover, grown awareness of improved treatment alternatives and an inrush of the population from developed countries for getting affordable healthcare are factors attributed to which the market is gaining traction in the region. The companies operating in the region are continually focusing on developing, launching, partnerships, and collaborations to expand their product portfolio. For instance, in June 2021, Rayner acquired Surgicon, to enhance sales, marketing resources, and product portfolio of technology in the Indian region. Through this acquisition, Rayner aims to bring its strong pipeline products of innovative IOLs, ophthalmic viscoelastic devices (OVDs), and dry eye drop solutions, available to surgeons and patients across India.
Market Players Outlook
The major companies serving the global intraocular lens market include Alcon Vision LLC, Bausch + Lomb Corp., HOYA Medical Singapore Pte. Ltd., Johnson & Johnson Vision Care, Inc., Lenstec, Inc., STAAR Surgical Co., and ZEISS group, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2019, Alcon Vision LLC, acquired PowerVision, Inc., to bring this innovative, accommodating lens to cataract patients across the globe. This new acquisition will demonstrate Alcon's commitment to driving the growth and innovation of its advanced technology intraocular lenses (AT-IOLS). The new technology allows the patient to actively focus on objects, just as the natural crystalline lens, basic, monofocal IOLs are commonly used for cataract surgery, whereas AT-IOLs, are used in correct presbyopia, improving patient outcomes and fulfilling the desired demand among patients for spectacle independence.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global IOL market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Alcon Vision LLC
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Bausch + Lomb Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. HOYA Medical Singapore Pte. Ltd.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Johnson & Johnson Vision Care, Inc.
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. ZEISS group
3.6.1. Overview
3.6.2. Financial Analysis
3.6.3. SWOT Analysis
3.6.4. Recent Developments
3.7. Key Strategy Analysis
4. Market Segmentation
4.1. Global Intraocular Lens Market by Product Type
4.1.1. Toric Intraocular Lens
4.1.2. Multifocal Intraocular Lens
4.1.3. Monofocal Intraocular Lens
4.1.4. Accommodative Intraocular Lens
4.2. Global Intraocular Lens Market by End-User
4.2.1. Hospitals
4.2.2. Ophthalmic Clinics
4.2.3. Ambulatory Surgery Centers
4.2.4. Eye Research Institutes
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Aurolab
6.2. Biotech Healthcare Holding GmbH
6.3. Care Group
6.4. Edina Eye Physicians & Surgeons, PA
6.5. Eyekon Medical
6.6. Hanita Lenses (ACS) Ltd.,
6.7. HOYA Medical Singapore Pte. Ltd.
6.8. HumanOptics Holding AG
6.9. Lenstec, Inc
6.10. MUHWA INDUSTRIAL CO., LTD. Co.
6.11. Operon Strategist
6.12. Ophtec BV,
6.13. Prevent Blindness
6.14. Rayner Intraocular Lenses Ltd.
6.15. RxSight, Inc.
6.16. SIFI S.p.A.
6.17. Shenzhen Drugdu Technology Co., Ltd.
6.18. Shanghai Bolan Optical Electric Co., Ltd
6.19. Spinak Medical Eye Center
6.20. STAAR Surgical Co.
6.21. SUSS MicroOptics SA
1. GLOBAL INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
2. GLOBAL TORIC INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL MONOFOCAL INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL MULTIFOCAL INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL ACCOMMODATIVE INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
7. GLOBAL INTRAOCULAR LENS IN HOSPITALS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL INTRAOCULAR LENS IN OPHTHALMIC CLINICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL INTRAOCULAR LENS IN AMBULATORY SURGERY CENTERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL INTRAOCULAR LENS IN EYE RESEARCH INSTITUTES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
13. NORTH AMERICAN INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
14. NORTH AMERICAN INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
15. EUROPEAN INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. EUROPEAN INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
17. EUROPEAN INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
18. ASIA-PACIFIC INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
21. REST OF THE WORLD INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
22. REST OF THE WORLD INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY PRODUCT TYPE, 2021-2028 ($ MILLION)
23. REST OF THE WORLD INTRAOCULAR LENS MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. GLOBAL INTRAOCULAR LENS MARKET SHARE BY PRODUCT TYPE, 2021 VS 2028 (%)
2. GLOBAL TORIC INTRAOCULAR LENS MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL MONOFOCAL INTRAOCULAR LENS MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL MULTIFOCAL INTRAOCULAR LENS MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL ACCOMMODATIVE INTRAOCULAR LENS MARKET SHARE BY REGION, 2021 VS 2028 (%)
6. GLOBAL INTRAOCULAR LENS MARKET SHARE BY END-USER, 2021 VS 2028 (%)
7. GLOBAL INTRAOCULAR LENS IN HOSPITALS MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL INTRAOCULAR LENS IN OPHTHALMIC CLINICS MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL INTRAOCULAR LENS IN AMBULATORY SURGERY CENTERS MARKET SHARE BY REGION, 2021 VS 2028 (%)
10. GLOBAL INTRAOCULAR LENS IN EYE RESEARCH INSTITUTES MARKET SHARE BY REGION, 2021 VS 2028 (%)
11. GLOBAL INTRAOCULAR LENS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. US INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
13. CANADA INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
14. UK INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
15. FRANCE INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
16. GERMANY INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
17. ITALY INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
18. SPAIN INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
19. REST OF EUROPE INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
20. INDIA INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
21. CHINA INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
22. JAPAN INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
23. SOUTH KOREA INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
24. REST OF ASIA-PACIFIC INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
25. REST OF THE WORLD INTRAOCULAR LENS MARKET SIZE, 2021-2028 ($ MILLION)
