Intraocular Lens Market Trends 2023, Leading Companies, Share, Size and Forecast Report By 2028

Intraocular Lens Market Outlook 2023-2028 :

IMARC Group’s latest research report, titled “Intraocular Lens Market: Global 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, IMARC Group expects the market to reach US$ 5.4 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

Intraocular Lens Uses:

An intraocular lens (IOL) represents an implantable medical device that is widely used for vision correction. It is an artificial lens that is implanted during the myopia and cataract surgery in replacement with the natural lens. In addition, an intraocular lens can also be utilized for vision correction surgeries in refractive lens exchange. Commonly made up of acrylic, silicone, and other plastic compositions, it is covered with a unique material to protect the eyes of the patients from harmful ultraviolet (UV) rays. Several manufacturers are offering various premium intraocular lenses with varying focusing powers based on the axial length of the eyes and the curves of the cornea. 

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Intraocular Lens Market Development and Growth:

The rising geriatric population across the globe and the escalating incidences of cataracts among the senior and diabetic patients are primarily driving the intraocular lens market. Besides this, the launch of several policies by the government bodies to spread awareness toward avoidable blindness is further augmenting the market growth. Moreover, the leading players are introducing trifocal lenses that eliminate the need for spectacles, which is also catalyzing the global market.

Apart from this, the setting up of free-of-cost camps for eye examinations and surgeries and the growing popularity of multifocal, toric, and accommodative lenses that offer higher precision, multifocal aperture, and improved visualization to the patients are acting as significant growth-inducing factors. Furthermore, the inflating healthcare expenditures, the extensive investments in research and development (R&D) activities, and the elevating requirement for advanced product variants that allow patients near and distant vision are anticipated to propel the intraocular lens market over the forecasted period.  

Key Players Included in Global Intraocular Lens Market Research Report:

• 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 
• STAAR Surgical Company

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Key Market Segmentation:

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, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report: 

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape 

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