The global intraocular lens market was valued at $3831.72 million in 2018 & is estimated to generate net revenue of approximately $5827.99 million by 2027, growing at a CAGR of 4.81%. Intraocular lenses (IOLs) are used for vision correction, and the process is known as refractive lens exchange. The following factors primarily drive the intraocular lens market:

• Growing prevalence of cataract
• The surge in minimally invasive procedures demand
• Technological advancements

To know more about this report, request a free sample copy 

The important drivers increasing growth in the global intraocular lens market are growing prevalence of cataract and technological advancements. A cataract is the leading cause of blindness. As the life expectancy of people increases, the number of people with cataract will also increase. With the improvement in cataract surgery, the results over the past few years have been surprising, which is driving the intraocular lens market.

The intraocular lenses types are used extensively for various purposes. Monofocal IOLs are the traditional and the most common intraocular lens used after the cataract surgery. This lens has a fixed focus in one distance and has a single zone of clear focus, producing excellent vision from a determined distance. Premium lens is individually customized to correct ametropia or presbyopia during cataract or lens replacement surgery. The premium lens is bifurcated into toric intraocular lens, multifocal intraocular lens, accommodating intraocular lens and other premium intraocular lens. Toric intraocular lens is a type of premium lens, which is used for correcting astigmatism and myopia. The multifocal IOL contain different zones, which give sharp vision at multiple distances, thereby allowing the patients to get a continuous range of vision from long, intermediate, and near distances. The other IOLs include blue light filtering IOLs, Phakic, and aspheric IOLs.

Complications associated after surgery and reimbursement issues are the major factors hindering the intraocular lens market. Some individuals have reported a few complications after cataract surgery, which could lead to a partial loss of vision or require further surgery. The charges for premium lenses and emerging technologies like femtosecond laser are not clear and the reimbursement is limited only up to the allowed limit in the home country.

The global intraocular lens market segments include material, type, and end-user.

Materials are segmented into:

• Polymethyl Methacrylate (PMMA)
• Hydrophobic acrylic
• Silicone

Types are segmented into:

• Premium intraocular lenses
  • Toric intraocular lens
  • Accommodating intraocular lens
  • Multifocal intraocular lens
  • Other premium intraocular lens
    • Blue light filtering IOLS
    • Aspheric IOLS
    • Phakic
  • Monofocal intraocular lenses

End-Users are segmented into:

• Eye research institutes
• Hospitals
• Ambulatory surgery centers
• Ophthalmic clinics

This report covers the present market conditions and the growth prospects of the global intraocular lens market for 2019-2027 and considered the revenue generated through the sales of intraocular lens for material, type, and end-user to calculate the market size by considering 2018 as the base year.

Geographically, the global intraocular lens market has been segmented based on four major regions, which include:

• North America Intraocular Lens Market : The United States & Canada
• Asia-Pacific Intraocular Lens Market : China, India, Japan, Australia, South Korea & Rest of APAC
• Europe Intraocular Lens Market : The United Kingdom, France, Germany, Italy, Spain & Rest of Europe
• Rest of World: Latin America & Middle East and Africa

The intraocular lens market in North America is anticipated to hold the largest share by 2027 possibilities of increased use of the intraocular lens. North America intraocular lens market constitutes approximately 39% share. The prevalence of blindness and vision impairment and other eye-related disorders is expected to increase rapidly among all age group, gender and racial group in North America. It has been estimated that age-related macular degeneration is expected to double by 2050, from 2.1 million to 3.7 million.

On the other hand, the Asia-Pacific market is anticipated to the fastest-developing region for the intraocular lens market. Rising prevalence of diabetic eye disease and cataract in the region is boosting the adoption of intraocular lens implants. The market in this region is expected to grow at a lucrative rate during the forecast period owing to the rise in geriatric population and an exponential increase in the diabetic population in the region.

The intraocular lens market is segmented by material which is sub-divided into silicone and hydrophobic acrylic, Polymethyl Methacrylate (PMMA) and also segmented on the basis of end-user which is sub-divided into ophthalmic clinics, hospitals, ambulatory surgery centers and eye research institutes. Sulcus-placed IOLs and sulcus-sutured IOLs are made of PMMA as it is rigid and thus helps in good centration (focus on one point).

Silicone was the first material available for developing foldable IOLs. A huge number of cataract surgeries are performed at hospitals, due to the patient-centered care, good environment with all necessary equipment, strong clinical team, and necessary support from hospital management. The major reason behind the continuous growth of ambulatory clinics is its lower cost compared to hospitals. Innovation in IOL technology and different research activities are likely to drive the intraocular lens market in the upcoming years.

The major market players of the global intraocular lens market are:

• Alcon Inc.
• Johnson & Johnson
• Valeant Pharmaceuticals
• Essilor International S.A.
• Carl Zeiss Meditec AG

Company profiles covers the analysis of important players. Novartis AG (Alcon) is a global pharmaceutical company, by both market capitalization and sales. Alcon offers one of the world’s widest selections of ophthalmic surgical devices and vision care products, including contact lenses, eye drops, disinfecting solutions, etc. Zeiss is one of the key players in the optical and optoelectronic industries, across the world and has been contributing to technological progress, over the past century.

Key findings of the global intraocular lens market:

• Hydrophobic acrylic is the majorly used material
• Premium intraocular lenses are the fastest growing intraocular lens type
• Hospitals are the significantly used end-user