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  • Published On : Jun 2022
  • Code : CMI690
  • Industry : Medical Devices
  • Pages : 355
  • Formats :

An intraocular lens implant is an artificial replacement for the lens of eye. It is part of the surgery to fix cataracts. Intraocular lenses are approved as safe and effective in the U.S. by the Food and Drug Administration (U.S. FDA) since 1981. The intraocular lens (IOL) are advanced option for improving patient’s vision without heavy dependence on contact lenses and glasses. Intraocular lenses are broadly divided into monofocal lenses and premium IOLs. Monofocal lenses are used for correcting vision at only one distance. On the other hand, premium IOLs, correct both close-up vision and distance. Premium IOLs are of three broad categories including monofocal lenses, multifocal lenses, and toric lenses. Key players manufacturing intraocular lenses include Bausch & Lomb, Alcon, Johnson & Johnson, and Carl Zeiss Meditec, among others.

Global intraocular lens market is estimated to be valued at US$ 5,076.1 million in 2022 and is expected to exhibit a CAGR of 7.2% during the forecast period (2022-2030).

Figure 1. Global Intraocular Lens Market in Terms of Value (US$ million), By Region, 2022

Intraocular Lens  | Coherent Market Insights

Key players operating in the market are focusing on development of new intraocular lens, which is expected to drive the global intraocular lens market growth during the forecast period.

Development of new intraocular lens by key market players is expected to boost growth of the intraocular lens system market over the forecast period. For instance, in October 2021, Ocumetics Technology Corp. a Canada-based research and ophthalmic products development company, announced the phase of a clinical trial program for Bionic Lens. It is an expandable intraocular lens that fits in the lens compartment of the eye, which eliminates the need for corrective lenses. The mechanism of the lens involves re-establishment of the natural kinetics of the eye muscles for facilitating the eye’s ability to promote better focus from distance to near and very near range.

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Intraocular Lens Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 5,076.1 Mn
Historical Data for: 2017 to 2021 Forecast Period: 2022 to 2030
Forecast Period 2021 to 2028 CAGR: 7.2% 2030 Value Projection: US$ 8,832.5 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular Lens, Accommodative Intraocular Lens
  • By Flexibility: Foldable, Rigid
  • By Material: Polymethylmethacrylate (PMMA), Silicone, Hydrophillic Acrylic, Hydrophobic Acrylic
  • By End User: Hospitals, Ophthalmology clinics, Ambulatory Surgery Centers
Companies covered:

Alcon, Bausch & Lomb, Johnson & Johnson, Staar Surgical Company, Carl Zeiss Meditec, HOYA Corporation, Lenstec, Inc., Ophtec BV, Rayner Intraocular Lenses Limited, and HumanOptics AG.  

Growth Drivers:
  • Increasing development of new intraocular lens
  • Increasing business development strategies such as mergers, acquisitions, and collaboration by key players is expected to propel the market growth over the forecast period.
Restraints & Challenges:
  • Limitations associated with the multifocal intraocular lens such as blurred vision and near distance clarity is expected to hamper the market growth

Figure 2. Global Intraocular Lens Market Share (%), By Product Type, 2022

Intraocular Lens  | Coherent Market Insights

Increasing business development strategies such as mergers, acquisitions, and collaboration by key players is expected to propel the market growth over the forecast period.

Key players operating in market are engaged in business development strategies such as collaboration, which is expected to drive the market growth over the forecast period. For instance, in May 2019, Zydus Cadila an India-based pharmaceutical company entered into collaboration with SIFI, an Italy-based ophthalmic firm for marketing intraocular lenses in India. SIFI’s intraocular lenses are approved by the Indian Central Drugs Standards Control Organisation (Directorate General of Health Services) and Ministry of Health & Family Welfare. Hence, the collaboration will empower surgeons with an advanced technology for improving quality of vision and life of patients.

Global Intraocular Lens Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic has caused nationwide lockdowns & governments gave measures for mapping containment zones, self-quarantine, contact tracing, and other measures for curtailing spread of the disease. Moreover, in March 2020, the World Health Organization (WHO) announced that routine healthcare appointments should be avoided for preventing patients from contracting the infection, which in turn also negatively impacted ophthalmology services. For instance, according to a November 2021, article published in the Indian Journal of Ophthalmology, the cataract surgical volume was decreased by 33% of the expected volume in 2020. Hence, such significant disruption caused in health systems during COVID-19 pandemic, negatively affected the intraocular lens market growth.

Global Intraocular Lens Market: Restraint

The limitations associated with multifocal IOLs is expected to hinder growth of the global intraocular lens market. Few models of multifocal lenses focus on intermediate vision and distance, hence patients may require reading glasses for closely held reading material. Similarly, some patients also face difficulty of developing halos and glares on lights after dark with the application of multifocal IOLs. Hence, such factors are expected to restraint the market growth.

Key Players                                                               

Major players operating in the global intraocular lens market include Alcon, Bausch & Lomb, Johnson & Johnson, Staar Surgical Company, Carl Zeiss Meditec, HOYA Corporation, Lenstec, Inc., Ophtec BV, Rayner Intraocular Lenses Limited, and HumanOptics AG.

An intraocular lens (or IOL) is referred to as an artificial lens for the eye. It replaces the natural lens, which is removed during cataract surgery. Intraocular lens comes in various focusing powers such as contact lenses and prescription eyeglasses. There are several varieties of IOLs such as monofocal IOLs, multifocal IOLs, accommodative IOLs, and toric IOLs. Monofocal IOLs are amongst the most commonly used lens with cataract surgery, it has only one focal distance, which is used to set focus for medium range or distance vision. Multifocal lens are used for correcting focus and distant vision at the same time. Furthermore, there are few IOLs that are specific for correcting specific eye disorders such as toric IOLs. These lenses are used for correction of eye conditions such as astigmatism, which involves refractive error caused due to uneven curve in lens. Intraocular lens (or IOL) are mostly made up of silicone or acrylic which provide varied degree of rigidity and foldable nature.

Market Dynamics

Companies operating in intraocular lens market are launching new products based on advanced technologieswhich is contributing to growth of the intraocular lens market. For instance, in January 2022, Alcon, a manufacturer of eye care solutions announced the commercial launch of Clareon family of intraocular lenses (IOLs). The lens is inserted using the next-generation, reusable Clareon Monarch IVDelivery System for providing precise and controlled implantation, which is designed with new Clareon material. In addition, the company will be rolling out the lens in international market in late 2022 and 2023.

Key features of the study:

  • This report provides an in-depth analysis of the global intraocular lens market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global intraocular lens market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies
  • Key companies covered as a part of this study include Alcon, Bausch & Lomb, Johnson & Johnson, Staar Surgical Company, Carl Zeiss Meditec, HOYA Corporation, Lenstec, Inc., Ophtec BV, Rayner Intraocular Lenses Limited, and HumanOptics AG.
  • Global intraocular lens market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have an ease in decision-making through various strategy matrices used in analyzing the global intraocular lens market

Detailed Segmentation:

  • Global Intraocular Lens Market, By Product Type
    • Monofocal Intraocular Lens
    • Multifocal Intraocular Lens
    • Toric Intraocular Lens
    • Accommodative Intraocular Lens
  • Global Intraocular Lens Market, By Flexibility
    • Foldable
    • Rigid
  • Global Intraocular Lens Market, By Material
    • Polymethylmethacrylate (PMMA)
    • Silicone
    • Hydrophillic Acrylic
    • Hydrophobic Acrylic
  • Global Intraocular Lens Market, By End User
    • Hospitals
    • Ophthalmology Clinics
    • Ambulatory Surgery Centers
  • Global Intraocular Lens Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Alcon*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Bausch & Lomb
    • Johnson & Johnson
    • Staar Surgical Company
    • Carl Zeiss Meditec
    • HOYA Corporation
    • Lenstec, Inc.
    • Ophtec BV
    • Rayner Intraocular Lenses Limited
    • HumanOptics AG

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

Global intraocular lens system market is estimated to be valued at US$ 5,076.1 million in 2022 and is expected to exhibit a CAGR of 7.2% between 2022 and 2030.
Factors such as increasing development of new intraocular lens and increasing engagement of business development strategies such as collaboration by key market players are expected to drive the market growth during the forecast period.
Multifocal intraocular lens segment is expected to hold a major market share during the forecast period in the product type segment.
The major factor hampering growth of the market include limitations associated with multifocal IOLs.
Major players operating in the market includes Alcon, Bausch & Lomb, Johnson & Johnson, Staar Surgical Company, Carl Zeiss Meditec, HOYA Corporation, Lenstec, Inc., Ophtec BV, Rayner Intraocular Lenses Limited, and HumanOptics AG.

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