PUBLISHER: Renub Research | PRODUCT CODE: 1408302
PUBLISHER: Renub Research | PRODUCT CODE: 1408302
Intraocular Lens Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis
Intraocular Lens Market size is expected to grow from US$ 4.23 Billion in 2023 to US$ 6.11 Billion by 2030, as per Renub Research. Intraocular lens is a medical device that could replace the natural lens of the eye, which facilitates focus on the light that enters the eye. This lens is commonly used for correcting vision and prescient during cataract surgical operation or refractive lens exchange. It can deal with several vision troubles, including hyperopia, myopia, presbyopia, and astigmatism.
Global Intraocular Lens market is anticipated to grow drastically due to different factors, which includes the rising incidence of cataracts, which has led to a surge in demand for cataract surgeries. Product developments, government assistance and reimbursement regulations have additionally contributed to the market's growth. The utilization of those lenses has expanded attributable to these factors. Moreover, initiatives to reduce the backlog of cataract surgeries and raise consciousness about eye care in essential worldwide locations are also anticipated to expand market throughout the forecast period.
Intraocular Lens market is projected to grow at a compound annual growth rate of 5.39% from 2024 to 2030
According to the American Academy of Ophthalmology, myopia influences an estimated 25% of Americans, making it a vast and well-known disorder. Furthermore, high myopia can cause doubtlessly blinding complications including glaucoma, retinal detachment, and myopic macular degeneration. Research shows that myopia and high myopia are expected to grow in incidence globally, affecting almost 5 billion humans and 1 billion people, respectively, by 2050, which is predicted to drive the thriving of the Intraocular Lens market.
Moreover, the growing incidence of diabetes is other vast driver of market expansion. Diabetes can cause various eye problems, including cataracts. According to the International Diabetic Federation (IDF), 537 million people international could be dwelling with diabetes in 2021, and the number is anticipated to rise to 643 million with the aid of 2030 and 783 million by using 2045. As the diabetic population is more vulnerable to be afflicted by cataracts, the market is anticipated to grow over the forecast period.
The worldwide market for intraocular lenses is anticipated to grow in the coming years, thanks to technological advancements. With the release of the AcrySof IQ Vivity IOL with the aid of Alcon Inc., a division of Novartis, the market has seen the introduction of the first presbyopia-correcting intraocular lens with wavefront shaping technology in India. As more products receive regulatory approvals, enlargement opportunities are predicted to arise. Despite this wonderful outlook, several factors, along with unfavorable reimbursement policies for premium lenses and postoperative problems like refractive errors, hinder market increase.
Monofocal IOL segment held the most important market percentage inside the Intraocular Lens Industry
By Product, Global Intraocular Lens market is segmented into Monofocal IOL, Multifocal IOL, Toric IOL and Accommodative IOL. The segment of multifocal intraocular lenses has won substantial market share in recent years because of the exquisite benefits they offer. Multifocal intraocular lenses are specific and offer improved visualization. They are proficient in treating patients with complicated issues and a multiple retinal issue by providing three vision zones. These vision zones assist the patients see far, intermediate, and near distances successfully and efficaciously. Multifocal intraocular lenses are a substantial improvement from traditional mono-focal lenses as they offer higher precision and accuracy in vision correction, leading to higher patient results. Additionally, multifocal intraocular lenses are designed to lessen the dependence on glasses or contact lenses after cataract surgical operation, that is a large advantage for patients who want to improve their vision without the hassle of glasses or contacts.
Hydrophobic and Hydrophilic acrylic material segment dominates the worldwide intraocular lens market
By Materials, the Global Intraocular Lens market is divided into Polymethyl meth Acrylate Material, Silicone Material, Hydrophobic & Hydrophilic Acrylic Material and Other Materials. The intraocular lens market has seen a substantial surge in hydrophobic and hydrophilic acrylic substances section usage. This can be attributed to the fact that those lens substances are easy to fold and perfectly suited for microsurgery, which is a crucial component in ophthalmology. Additionally, those materials have wonderful biocompatibility, making them a favored preference for lots of patients. The hydrophobic and hydrophilic acrylic materials sector has the biggest share in the intraocular lens market, indicating its developing reputation amongst ophthalmologists and patients.
Hospitals have large market share, and Ophthalmology Clinics will hold its dominance inside the industry
By End Users, the Global Intraocular Lens market is classified into Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics and Eye Research Institutes. The healthcare market has witnessed a huge upward thrust in the range of ophthalmic clinics, particularly in growing regions that are not affiliated with hospitals. These clinics basically consciousness on treating vision-related illnesses and catering to individuals' primary eye care needs. Human are increasingly opting for these clinics for primary follow ups and eye health treatment. These trends have led to upward push in competition among service providers, that is expected to drive the growth of the ophthalmic health center segment. Furthermore, providing competitive expenses is anticipated to attract more patients to these clinics. However, despite the competition, hospitals nonetheless dominate the market, as maximum cataract and vision restore surgical procedures are completed in hospitals.
China intraocular lens market is predicted to quickest growth in upcoming years
The global intraocular lens market is categorized by country into North America (including the United States, Canada, and Mexico), Latin America (including Brazil), Europe (including the United Kingdom, Germany, France, Italy, Spain, and the Netherlands), Asia Pacific (including China, Japan, India, South Korea, and Australia), Middle East & Africa (including South Africa and the United Arab Emirates), and Rest of the World. In the upcoming years, it's far predicted that China will experience the speediest growth in the ophthalmic market.
One of the key factors on this growth is the prevalence of a substantial elderly and diabetic population. These people are more at risk of growing cataracts and different ophthalmic problems, driving the demand for related treatment and strategies. Furthermore, the market growth is likewise attributed to the extended cognizance of advanced treatment alternatives, leading to higher patient demand. Additionally, there has been an inflow of patients from developed countries in search of low-priced healthcare solutions, which is also contributing to the enlargement of the market in China.
Key Player
Alcon Inc., Bausch Health Companies Inc., Hoya Corporation, Johnson & Johnson, STAAR Surgical Company, Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung) and Novartis AG are the few most important players holding the majority revenue proportion inside the intraocular lens market.
Renub Research latest report "Intraocular Lens Market, Global Forecast By Product (Monofocal IOL, Multifocal IOL, Toric IOL and Accommodative IOL), Material (Polymethyl meth Acrylate Material, Silicone Material, Hydrophobic & Hydrophilic Acrylic Material and Other Materials), End Users (Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics and Eye Research Institutes), Region (North America (including the United States, Canada, and Mexico), Latin America (including Brazil), Europe (including the United Kingdom, Germany, France, Italy, Spain, and the Netherlands), Asia Pacific (including China, Japan, India, South Korea, and Australia), Middle East & Africa (including South Africa and the United Arab Emirates), and Rest of the World), Companies (Alcon Inc., Bausch Health Companies Inc., Hoya Corporation, Johnson & Johnson, STAAR Surgical Company, Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung) and Novartis AG)" provides a detailed analysis of Intraocular Lens Industry.
Product - Market has been covered from 4 viewpoints:
- 1. Monofocal IOL
- 2. Multifocal IOL
- 3. Toric IOL
- 4. Accommodative IOL
Material - Market has been covered from 4 viewpoints:
- 1. Polymethyl meth Acrylate Material
- 2. Silicone Material
- 3. Hydrophobic and Hydrophylic Acrylic Material
- 4. Other Material
End User - Market has been covered from 4 viewpoints:
- 1. Hospitals
- 2. Ambulatory Surgery Centers
- 3. Ophthalmology Clinics
- 4. Eye Research Institutes
Country - Market has been covered from 18 Country Intraocular Lens Industry
- 1. Americas
- 1.1. United States
- 1.2. Canada
- 1.3. Mexico
- 1.4. Brazil
- 2. Europe
- 2.1. United Kingdom
- 2.2. Germany
- 2.3. France
- 2.4. Italy
- 2.5. Spain
- 2.6. Netherlands
- 3. Asia - Pacific
- 3.1. China
- 3.2. Japan
- 3.3. India
- 3.4. South Korea
- 3.5. Australia
- 4. Middle East & Africa
- 4.1. United Arab Emirates
- 4.2. South Africa
- 5. Rest of the World
Company Insights:
- Overview
- Recent Development
- Financial Insight
Companies Covered:
- 1. Alcon Inc.
- 2. Bausch Health Companies Inc.
- 3. Hoya Corporation
- 4. Johnson & Johnson
- 5. STAAR Surgical Company
- 6. Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung)
- 7. Novartis AG
Table of Contents
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
- 4.1 Growth Drivers
- 4.2 Challenges
5. Global Intraocular Lens Market
6. Market Share - Global Intraocular Lens Analysis
- 6.1 By Product
- 6.2 By Material
- 6.3 By End User
- 6.4 By Country
7. Products - Global Intraocular Lens Market
- 7.1 Monofocal IOL
- 7.2 Multifocal IOL
- 7.3 Toric IOL
- 7.4 Accommodative IOL
8. Materials - Global Intraocular Lens Market
- 8.1 Polymethyl meth Acrylate Material
- 8.2 Silicone Material
- 8.3 Hydrophobic and Hydrophylic Acrylic Material
- 8.4 Other Material
9. End Users - Global Intraocular Lens Market
- 9.1 Hospitals
- 9.2 Ambulatory Surgery Centers
- 9.3 Ophthalmology Clinics
- 9.4 Eye Research Institutes
10. Country - Global Intraocular Lens Market
- 10.1 Americas
- 10.1.1 United States
- 10.1.2 Canada
- 10.1.3 Mexico
- 10.1.4 Brazil
- 10.2 Europe
- 10.2.1 United Kingdom
- 10.2.2 Germany
- 10.2.3 France
- 10.2.4 Italy
- 10.2.5 Spain
- 10.2.6 Netherlands
- 10.3 Asia - Pacific
- 10.3.1 China
- 10.3.2 Japan
- 10.3.3 India
- 10.3.4 South Korea
- 10.3.5 Australia
- 10.4 Middle East& Africa
- 10.4.1 United Arab Emirates
- 10.4.2 South Africa
- 10.5 Rest of the World
11. Porter's Five Analysis - Global Intraocular Lens Market
- 11.1 Bargaining Power of Buyers
- 11.2 Bargaining Power of Suppliers
- 11.3 Degree of Rivalry
- 11.4 Threat of New Entrants
- 11.5 Threat of Substitutes
12. SWOT Analysis - Global Intraocular Lens Market
- 12.1 Strength
- 12.2 Weakness
- 12.3 Opportunity
- 12.4 Threat
13. Company Analysis
- 13.1 Alcon Inc.
- 13.1.1 Overview
- 13.1.2 Recent Development
- 13.1.3 Financial Insight
- 13.2 Bausch Health Companies Inc.
- 13.2.1 Overview
- 13.2.2 Recent Development
- 13.2.3 Financial Insight
- 13.3 Hoya Corporation
- 13.3.1 Overview
- 13.3.2 Recent Development
- 13.3.3 Financial Insight
- 13.4 Johnson & Johnson
- 13.4.1 Overview
- 13.4.2 Recent Development
- 13.4.3 Financial Insight
- 13.5 STAAR Surgical Company
- 13.5.1 Overview
- 13.5.2 Recent Development
- 13.5.3 Financial Insight
- 13.6 Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung)
- 13.6.1 Overview
- 13.6.2 Recent Development
- 13.6.3 Financial Insight
- 13.7 Novartis AG
- 13.7.1 Overview
- 13.7.2 Recent Development
- 13.7.3 Financial Insight
List of Figures
- Figure-01: Global - Intraocular Lens Market (Billion US$), 2018 - 2023
- Figure-02: Global - Forecast for Intraocular Lens Market (Billion US$), 2024 - 2030
- Figure-03: Product - Monofocal IOL Market (Million US$), 2018 - 2023
- Figure-04: Product - Forecast for Monofocal IOL Market (Million US$), 2024 - 2030
- Figure-05: Product - Multifocal IOL Market (Million US$), 2018 - 2023
- Figure-06: Product - Forecast for Multifocal IOL Market (Million US$), 2024 - 2030
- Figure-07: Product - Toric IOL Market (Million US$), 2018 - 2023
- Figure-08: Product - Forecast for Toric IOL Market (Million US$), 2024 - 2030
- Figure-09: Product - Accommodative IOL Market (Million US$), 2018 - 2023
- Figure-10: Product - Forecast for Accommodative IOL Market (Million US$), 2024 - 2030
- Figure-11: Material - Polymethyl meth Acrylate Material Market (Million US$), 2018 - 2023
- Figure-12: Material - Forecast for Polymethyl meth Acrylate Material Market (Million US$), 2024 - 2030
- Figure-13: Material - Silicone Material Market (Million US$), 2018 - 2023
- Figure-14: Material - Forecast for Silicone Material Market (Million US$), 2024 - 2030
- Figure-15: Material - Hydrophobic and Hydrophylic Acrylic Material Market (Million US$), 2018 - 2023
- Figure-16: Material - Forecast for Hydrophobic and Hydrophylic Acrylic Material Market (Million US$), 2024 - 2030
- Figure-17: Material - Other Material Market (Million US$), 2018 - 2023
- Figure-18: Material - Forecast for Other Material Market (Million US$), 2024 - 2030
- Figure-19: End User - Hospitals Market (Million US$), 2018 - 2023
- Figure-20: End User - Forecast for Hospitals Market (Million US$), 2024 - 2030
- Figure-21: End User - Ambulatory Surgery Centers Market (Million US$), 2018 - 2023
- Figure-22: End User - Forecast for Ambulatory Surgery Centers Market (Million US$), 2024 - 2030
- Figure-23: End User - Ophthalmology Clinics Market (Million US$), 2018 - 2023
- Figure-24: End User - Forecast for Ophthalmology Clinics Market (Million US$), 2024 - 2030
- Figure-25: End User - Eye Research Institutes Market (Million US$), 2018 - 2023
- Figure-26: End User - Forecast for Eye Research Institutes Market (Million US$), 2024 - 2030
- Figure-27: United States - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-28: United States - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-29: Canada - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-30: Canada - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-31: Mexico - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-32: Mexico - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-33: Brazil - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-34: Brazil - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-35: United Kingdom - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-36: United Kingdom - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-37: Germany - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-38: Germany - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-39: France - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-40: France - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-41: Italy - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-42: Italy - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-43: Spain - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-44: Spain - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-45: Netherlands - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-46: Netherlands - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-47: China - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-48: China - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-49: Japan - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-50: Japan - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-51: India - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-52: India - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-53: South Korea - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-54: South Korea - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-55: Australia - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-56: Australia - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-57: United Arab Emirates - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-58: United Arab Emirates - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-59: South Africa - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-60: South Africa - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-61: Rest of the World - Intraocular Lens Market (Million US$), 2018 - 2023
- Figure-62: Rest of the World - Forecast for Intraocular Lens Market (Million US$), 2024 - 2030
- Figure-63: Alcon Inc. - Global Revenue (Million US$), 2018 - 2023
- Figure-64: Alcon Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
- Figure-65: Bausch Health Companies Inc. - Global Revenue (Million US$), 2018 - 2023
- Figure-66: Bausch Health Companies Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
- Figure-67: Hoya Corporation - Global Revenue (Million US$), 2018 - 2023
- Figure-68: Hoya Corporation - Forecast for Global Revenue (Million US$), 2024 - 2030
- Figure-69: Johnson & Johnson - Global Revenue (Million US$), 2018 - 2023
- Figure-70: Johnson & Johnson - Forecast for Global Revenue (Million US$), 2024 - 2030
- Figure-71: STAAR Surgical Company - Global Revenue (Million US$), 2018 - 2023
- Figure-72: STAAR Surgical Company - Forecast for Global Revenue (Million US$), 2024 - 2030
- Figure-73: Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung) - Global Revenue (Million US$), 2018 - 2023
- Figure-74: Carl Zeiss Meditec AG (Carl-Zeiss-Stiftung) - Forecast for Global Revenue (Million US$), 2024 - 2030
- Figure-75: Novartis AG - Global Revenue (Million US$), 2018 - 2023
- Figure-76: Novartis AG - Forecast for Global Revenue (Million US$), 2024 - 2030
List of Tables
- Table-01: Global - Intraocular Lens Market Share by Product (Percent), 2018 - 2023
- Table-02: Global - Forecast for Intraocular Lens Market Share by Product (Percent), 2024 - 2030
- Table-03: Global - Intraocular Lens Market Share by Material (Percent), 2018 - 2023
- Table-04: Global - Forecast for Intraocular Lens Market Share by Material (Percent), 2024 - 2030
- Table-05: Global - Intraocular Lens Market Share by End User (Percent), 2018 - 2023
- Table-06: Global - Forecast for Intraocular Lens Market Share by End User (Percent), 2024 - 2030
- Table-07: Global - Intraocular Lens Market Share by Countries (Percent), 2018 - 2023
- Table-08: Global - Forecast for Intraocular Lens Market Share by Countries (Percent), 2024 - 2030
