Intraocular Lens (IOL) Market Size, Share, Global Trends, Major Key Players and Geographical Forecast Till 2026

Posted on Aug 4 2022 6:19 AM

"Intraocular Lens (IOL) Market Size, Share & Industry Analysis, By Type [Monofocal Intraocular Lens and Premium Intraocular Lens (Multifocal Intraocular Lens, Toric Intraocular Lens, and Others)], By Material [Polymethylmethacrylate (PMMA) and Foldable (Hydrophobic Acrylic, Hydrophilic Acrylic, and Silicone & Collamer)], By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics, and Academic & Research Institutes) and Regional Forecast, 2019-2026"

The global “Intraocular Lens Market size” is projected to reach USD 5,318.8 million by 2026, thereby exhibiting a CAGR of 6.8% during the forecast period. However, the market was worth USD 3,159.3 million in 2018. This information is published in a recent report by Fortune Business Insights™, titled, “Intraocular Lens Market Size, Share & Industry Analysis, By Type [Monofocal Intraocular Lens and Premium Intraocular Lens (Multifocal Intraocular Lens, Toric Intraocular Lens, and Others)], By Material [Polymethylmethacrylate (PMMA) and Foldable (Hydrophobic Acrylic, Hydrophilic Acrylic, and Silicone & Collamer)], By End User (Hospitals & Ambulatory Surgery Centers, Specialty Clinics, and Academic & Research Institutes) and Regional Forecast, 2019-2026.” The report further states that the market is set to gain impetus from the rising number of NGOs offering free cataract surgeries and eye examinations.

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Highlights of the Report:

  • In-depth information about the intraocular lens market size, trends, growth drivers, hindrances, opportunities, and challenges.
  • Segmentation of the market in terms of type, material, end user, and geography.
  • Extensive analysis of the competitive landscape, such as new product launches, contracts, agreements, joint ventures, mergers, and acquisitions.

Leading Players operating in the Intraocular Lens Market are:

  • Omni Lens
  • PhysIOL
  • Rayner Intraocular Lenses Limited
  • STAAR SURGICAL
  • HOYA Corporation
  • Johnson & Johnson, Inc.
  • Bausch & Lomb Incorporated
  • Novartis AG
  • Human Optics AG
  • ZEISS Medical Technology
  • The Fred Hollows Intraocular lens laboratory

Rising Government Initiatives to Eliminate Cataract Will Boost Growth

The incidence of cataracts is rising at a rapid rate nowadays. It is, in turn, causing huge health as well as an economic burden in several countries. Therefore, the governments of these countries are launching various initiatives to eliminate cataracts. One such global initiative is called ‘Vision 2020’. It was put forward by the International Agency for the Prevention of Blindness (IAPB) to remove the major causes of avoidable blindness from the world. Additionally, the governments are conducting eye checkup camps and launching favorable reimbursement policies to achieve their target of Vision 2020. It is expected to augment the intraocular lens market growth during the forecast period.

North America to Dominate: Increasing Technological Advancements Will Favor Growth

intraocular lens market size is geographically segregated into Asia Pacific, Europe, the Middle East and Africa, North America, and Latin America. Out of these, North America had generated USD 892.9 million IOL market value in 2018. It is set to retain its dominant position throughout the forecast period. It is likely to occur because of the increasing number of new product launches as well as the ongoing technological advancements, such as the Extended Depth of Focus (EDoF) and custom cataract lens.

Europe is expected to expand at a fast pace owing to the growing preference for toric lenses, rising adoption of femtosecond lasers for cataract surgery, and an increasing number of cataract surgery. Besides, various industry giants are present in this region. It would also contribute to the market growth.

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Key Segmentation:

By Type

  • Traditional/Monofocal Intraocular Lens
  • Premium Intraocular Lens

By Material

  • Polymethylmethacrylate Intraocular Lens
  • Hydrophobic Acrylic Intraocular Lens
  • Hydrophilic Acrylic Intraocular Lens

By End User

  • Clinics
  • Hospitals
  • Ambulatory Surgery Centers

By Geography

  • North America (USA (New York, Georgia, Illinois) and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

 

 

Reasons to Purchase this Report:

  • Comprehensive analysis of the Intraocular Lens Market size, growth drivers, obstacles, opportunities, and other related challenges.
  • Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, size, and joint ventures.
  • Identifies market restraints and boosters.
  • Identifies all the possible segments present in the market to aid organizations in strategic business planning.

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