Global Intraocular Lens Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global intraocular lens market size reached US$ 4.0 Billion in 2022. Looking forward, the market is expected to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.13% during 2022-2028.

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.

Intraocular Lens Market Trends

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.

Key Market Segmentation

This research provides an analysis of the key trends in each sub-segment of the global intraocular lens market report, along with forecasts at the global, regional and country level from 2023-2028. The report has categorized the market based on product, material and end use.

Breakup by Product:

• Monofocal IOL
• Multifocal IOL
• Toric IOL
• Accommodative IOL

Breakup by Material:

• Polymethylmethacrylate (PMMA)
• Silicone
• Hydrophobic Acrylic

Breakup by End Use:

• Hospitals
• Ophthalmic Clinics
• Ambulatory Care Centers
• Eye Research Institutes

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Latin America
• Brazil
• Mexico
• Middle East and Africa

Competitive Landscape

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.

Key Questions Answered in This Report

1. What is the expected growth rate of the global intraocular lens market during 2023-2028?
2. What are the key factors driving the global intraocular lens market?
3. What has been the impact of COVID-19 on the global intraocular lens market?
4. What is the breakup of the global intraocular lens market based on the product?
5. What is the breakup of the global intraocular lens market based on the material?
6. What is the breakup of the global intraocular lens market based on the end use?
7. What are the key regions in the global intraocular lens market?
8. Who are the key players/companies in the global intraocular lens market?