Global Intraocular Lens Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Intraocular Lens Market: Overview

“The global intraocular lens Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

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An intraocular lens is known as the artificial lens as it is made of different material such as silicone, plastic, acrylic, and Collamer.

In addition, during cataract surgery, myopia, or any other eye treatment, the intraocular lens is fixed in the eye for correcting the patient’s vision.

Currently, the type of monofocal intraocular lens is the best choice with less budget and also implant focused for one fixed distance.

Global Intraocular Lens Market: Dynamics

The demand of intraocular lens is growing because of the increasing eye related cases including diabetic eye disease, obesity, age-related macular degeneration, glaucoma, cataract is expected to accelerate growth of the global market in the next few years.

The rising number of vision correction processes, innovations in intraocular lens products, and also increase the prevalence of cataract are some factors which can help to grow the target market.

In addition, increasing adoption of the premium intraocular lens and multifocal intraocular lens, rising geriatric population, a growing number of vision improvement procedures, innovations in new product, a growing number of the diabetic population are some other factors that are boosting demand for an intraocular lens.

Moreover, increasing government initiatives and technology advancement including femtosecond lasers, and micro-incision cataract surgery is some factor supporting growth of the target market.

However, high cost associated with the surgical procedure and also refractive errors are the major factors limiting the growth for global intraocular lens market.

Global Intraocular Lens Market: Segment Analysis

Among the type segments, the traditional/monofocal IOLs segment is expected to account for the largest revenue contribution in the global market. This can be attributable to increasing adoption of monofocal IOLs as they provide easy insertion and significantly less or zero aberration.

Among the material segments, the foldable IOLs is expected to register major revenue contribution and also projected to dominate growth of the target market over the forecast period. The foldable IOLs are required smaller surgeries for IOL insertion and reduce the danger of post-operative flaws in the eye.

Global Intraocular Lens Market: Regional Analysis

The market in North America is projected to register the highest revenue growth of global intraocular lens market over the forecast period. The rising incidence of age-related eye diseases, an increasing number of cataract surgical, increasing adoption of advanced technology techniques and products and growing demand by patients for premium lenses in the countries in the region.

The Asia Pacific market is projected to register fastest CAGR over the forecast period, this is primarily attributed to technological advances in intraocular lenses and growing refractive surgery particularly in countries such as India and China.

In addition, demand for toric intraocular and multifocal lenses is increasing owing to increasing government initiatives towards the cataract treatment and preventable blindness are furthering supporting growth of the market in this region.

Global Intraocular Lens Market Segmentation:

Segmentation by Type:

• Traditional/Monofocal IOLs
  • Aspheric Monofocal IOLs
  • Spheric Monofocal IOLs
• Premium IOLs
  • Multifocal IOLs
  • Accommodating IOLs
  • Extended Depth of Focus (EDOF) IOLs
• Phakic IOLs

 Segmentation by Material:

• Polymethylmethacrylate IOLs (PMMA IOLs)
• Foldable IOLs
• Hydrophobic Acrylic IOLs
• Hydrophilic Acrylic IOLs
• Other Foldable IOLs (acrylic, silicone, and hybrid IOLs)

 Segmentation by End-user:

• Hospitals and Clinics
• Ambulatory Surgery Centers

 Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa