Intra Ocular Lens Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Intra Ocular Lens Market is segmented By Type (Accommodative, Monofocal, Multifocal, and Others), By Material Type (Hydrophobic Acrylic, Polymethyl Methacrylate, Silicone, and Others), By End-User (Eye Research Centers, Hospitals, Ophthalmic Clinics, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Report Overview

Global Intraocular Lens Market reached US$ YY billion in 2022 and is expected to reach US$ YY  million by 2030 growing at a CAGR of YY% during the forecast period 2024-2031.

Intraocular lens (IOL) is a medical device implanted in the eye to replace the eye's natural lens which is typically removed during cataract surgery. The primary purpose of an intraocular lens is to restore clear vision for individuals who have developed cataracts or other eye conditions that affect the clarity of the lens.

Intraocular lens implants also correct a range of vision issues, including nearsightedness and age-related farsightedness. Intraocular lenses are commonly made of biocompatible materials such as silicone or acrylic.

Market Summary

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Market Dynamics

Increasing prevalence of optical disorders

The increasing prevalence of optical disorders acts as a significant driver for market growth. An intraocular lens can be placed inside the eye to cure cataracts or other vision issues like long- and short-sightedness deficiency. 

For instance, according to the World Health Organisation Report 2023, 2.2 billion people have near or distant vision impairment. It is estimated that globally only 36% of people with a distance vision impairment due to refractive error and only 17% of people with vision impairment due to cataracts.

Also, according to the National Institute of Health Report 2023, dry eye disease is one of the most prevalent eye conditions, affecting millions of people globally. The worldwide prevalence ranges from 5% to 50%, depending on the geographic region.

Additionally, myopia is the most common ocular disease, affecting an estimated 20% of the global population. The prevalence of myopia in India in the population-based studies varied between 3.6% and 36.5%, whereas the school-based, and hospital-based studies had a prevalence rate of 7.5% - 8.6%, and 9% respectively.

Furthermore, significant growth drivers such as the increasing adoption of premium IOLs, and new product launches are expected to drive the market in the forecast period.

Challenges associated with intraocular lens implantation

Some challenges and risks include posterior capsular opacification, intraocular lens (IOL) dislocation, IOL opacification, and refractive surprise. IOL dislocation shifts from its normal position and causes a higher risk like pseudoexfoliation syndrome. Thus, the above factors can hamper the market growth.

Market Segment Analysis

The global intraocular lens market is segmented based on type, material, end user and region.

The mono focal intraocular lens segment accounted for approximately 37.6% of the market share 

The mono focal intraocular lens segment is expected to hold the largest market share over the period forecast due to the increasing number of product launches. Monofocal lenses have a fixed focal point which provides clear vision at a specific distance. The most common choice for monofocal lenses is to set the focus for distance vision.

For instance, in August 2023, Alcon India launched Clareon Monofocal with the Clareon Monarch IV delivery system. The ultra-smooth Clareon optic delivers the lowest levels of surface haze of competitive monofocal IOLs for unsurpassed clarity.

Additionally, in October 2023, Bausch + Lomb launched the enVista Aspire monofocal and toric IOLs in the United States. It allows for a range of vision beyond one focal point, and enVista Aspire features glistening-free optic material and controlled unfolding with StableFlex technology.

Market Geographical Share

North America is expected to hold a significant position in the global intraocular lens  market share

The global intraocular lens market is segmented into North America, Europe, Asia Pacific, South America, Middle East, and Africa. 

North America has maintained a significant market proportion due to factors such as rising prevalence of cataracts, and increasing healthcare expenditure, this trend is anticipated to continue throughout the forecast period.

For instance, cataracts are the leading cause of blindness according to the Canadian National Institute for the Blind (CNIB), cataracts are the primary cause of low vision and blindness in Canada affecting more than 3.5 million Canadians.

Additionally, according to the American Academy of Opthalmology, cataracts affect more than 24.4 million Americans age 40 and older. And by age 75, approximately half of all Americans have cataracts. 

COVID-19 Impact Analysis 

The COVID-19 pandemic has had a significant impact on the global intraocular lens market. The onset of the pandemic in early 2020 led to widespread lockdowns and restrictions, impacting regular diagnoses, treatment, device launches, and consultations worldwide. With the outbreak of the pandemic, many pharmaceutical or medical device manufacturing units faced labor shortages and were unable to travel to work due to lockdown restrictions. Therefore, owing to the above factors, the intraocular lens market was moderately affected over the forecast period.

Market Key players

The major global players in the market include Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, EyeKon Medical Inc., HOYA CORPORATION, HumanOptics AG, NanoVision, STAAR Surgical Company, Rayner, Lenstec Inc. among others.

Key Developments

• In January 2023, Bausch + Lomb Corporation acquired AcuFocus Inc. which has delivered breakthrough small aperture intraocular technology including the IC-8 Apthera intraocular lens.
• In October 2021, Alcon Laboratories India Pvt Ltd launched a presbyopia-correcting intraocular lens (PC-IOL) with wavefront-shaping technology called the AcrySof IQ Vivity IOL (Vivity).

Why Purchase the Report?

• To visualize the global intraocular lens market segmentation based on type, material, end user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of global intraocular lens market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global intraocular lens market report would provide approximately 61 tables, 60 figures, and 185 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies