Analysis of Intraocular Lenses market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global intraocular lens market is expected to increase from a valuation of US$ 4.1 billion in 2022 to US$ 6.7 billion by the end of 2032 and expanding at a CAGR of 5% over the next five years,
Monofocal intraocular lenses are anticipated to be highly recommended by ophthalmologists and are expected to witness high demand owing to their comparatively lower costs than premium intraocular lenses. Monofocal intraocular lenses accounted for more than 50% market share in 2021 and are slated to maintain a similar stance through 2032.
Intraocular lens Market Size (2022)
US$ 4.1 Billion
Projected Market Value (2032F)
US$ 6.7 Billion
Global Market Growth Rate (2022-2032)
Monofocal Intraocular Lens Segment Market Share (2021)
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The world has witnessed a prominent increase in the incidence of cataracts and this has led to an increased number of cataract surgeries being performed across the world. This is expected to primarily drive the intraocular lenses market potential across the forecast period.
Increasing prevalence of diabetes in the general population is one of the major factors that is causing cataract problems and is expected to positively impact sales of intraocular lenses over the years to come. The growing geriatric population is also one of the more important prospects that favor intraocular lenses market growth since aging people are more prone to vision impairment and cataracts.
Technological innovations, the development of novel intraocular lenses, and the rising adoption of premium intraocular lenses are also expected to uplift the overall intraocular lens demand over the next ten years.
However, the lack of favorable reimbursement for postoperative issues and the use of premium intraocular lenses are expected to have a hindering effect on the overall market potential through 2032.
From 2022 to 2032, sales of intraocular lenses are slated to increase at a steady CAGR of 5%.
“Rising Prevalence of Diabetes Increases the Risk of Vision Impairment”
Diabetes and vision impairment are directly related as an increase in blood sugar levels leads to structural changes in the lens of the eyes. Hence, diabetic people are more prone to cataracts and other vision impairment issues, which is expected to favor sales of intraocular lenses through 2032.
Moreover, the rising senescent population across the world is also expected to drive market growth across the forecast period as these aging people are more prone to diabetes and ophthalmic conditions.
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“Intraocular Lens Start-ups Should Focus on Launching Innovative Products”
Upcoming intraocular lens market players should focus on the rising demand for new and technologically advanced intraocular lenses to establish themselves in the global marketplace.
“Rising Geriatric Population and High Incidence of Diabetes & Cataract in the Region”
The intraocular lenses market in the Asia Pacific region is anticipated to be driven on the back of growing aging population and rising incidence of diabetes. Supportive government initiatives to increase awareness of ophthalmic conditions and the rising number of cataract removal surgeries being performed in the region are also anticipated to favor the overall intraocular lenses market growth going forward.
Emerging economies of China, Japan, and India are anticipated to lead the growth in this region owing to the increasing number of cataract surgeries being performed in these countries. Multifocal cataract lenses, preloaded intraocular lenses, and other intraocular lenses for cataract surgery are anticipated to witness high demand in the Asia Pacific region through 2032.
The adoption of advanced ophthalmic procedures and products is also expected to be a crucial trend that could shape the overall intraocular lenses market potential in this region.
All the other major and minor regions have been profiled in this latest intraocular lenses market analysis. This latest intraocular lenses market report has been prepared by skilled analysts at Fact.MR, a market research and competitive intelligence provider, to provide all the essential data required to make informed business decisions.
“Rising Number of Product Launches & Favorable Reimbursement Scene”
The U.S. intraocular lenses market is anticipated to be a highly rewarding one for intraocular lens manufacturers owing to the presence of developed healthcare infrastructure, the rising number of eye surgeries being performed, and favorable reimbursement policies. The presence of key players in the intraocular lenses market in the country is also resulting in a high number of product launches, which is expected to favor overall market potential through 2032.
Increasing investments in research and development of novel products and supportive government policies are other factors that are expected to positively influence demand for intraocular lenses in the United States going forward.
“Affordable Nature of Monofocal Lenses Backs their Popularity”
The global intraocular lenses market, based on product, is segmented into monofocal intraocular lenses and premium intraocular lenses. The premium intraocular lenses are further segmented into multifocal intraocular lenses, toric intraocular lenses, and accommodative intraocular lenses.
Monofocal intraocular lenses are anticipated to be highly popular across the forecast period owing to their low cost as compared to premium intraocular lenses. The recommendation of monofocal intraocular lenses by ophthalmologists and favorable reimbursement coverage for these lenses are other factors that are expected to drive their popularity over the next ten years. Sales of monofocal intraocular lenses accounted for around 50% of the global intraocular lenses market share in 2021.
Meanwhile, demand for premium intraocular lenses is predicted to rise at a faster CAGR than monofocal lenses owing to their rising use in the treatment of intricate retinal conditions.
“Hospitals Set to Lead Global Sales of Intraocular Lenses”
The global intraocular lenses market, based on end user, is segmented into hospitals, ophthalmic clinics, ambulatory surgical centers, and eye research institutes.
Hospitals are projected to lead the global demand for intraocular lenses owing to a high number of eye surgeries being performed in these establishments. The rising availability of novel eye treatments in hospitals and growing investments in healthcare infrastructure development are expected to bolster intraocular lens sales in hospitals through 2032. The growing availability of free-of-cost eye surgeries in government hospitals is also a major factor expected to boost the growth in the hospitals segment throughout the forecast period.
However, ophthalmic clinics are also anticipated to witness a spike in intraocular lens demand owing to their ease of appointment scheduling and the rising number of discrete ophthalmic clinics across the world.
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Companies in the intraocular lens market are expected to focus on acquisitions, mergers, collaborations, and partnerships that help them strengthen their global market presence.
Key manufacturers of intraocular lenses are also focusing on getting approval for their new products from regulatory authorities to commercialize them and propel sales potential.
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Sales of intraocular lens are slated to reach US$ 6.7 billion by 2032.
Demand for intraocular lens is predicted to steadily rise at 5% CAGR through 2032.
In 2022, the global intraocular lens market is valued at US$ 4.1 billion.
Increasing number of cataract surgeries, rising prevalence of diabetes, growing geriatric population, and favourable reimbursement policies for the use of intraocular lenses (IOLs) are key market trends.
Carl Zeiss Meditec AG, EyeKon Medical Inc., Bausch & Lomb Inc., Alcon (Novartis AG), Hoya Surgical Optics, Lenstec Inc., PhysIOL, and Staar Surgical Company are the top suppliers of intraocular lenses.
Monofocal intraocular lens accounted for over 50% of the global market share in 2021.
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