Intraocular Lens Market Size to Hit US$ .9 Billion by 2030 | Growth Plus Reports

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Newark, New Castle, USA, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The global intraocular lens market is expected to clock US$ 6.9 Billion by 2030, a rising prevalence of ophthalmic diseases, increased geriatric population, and availability of advanced treatment for eye surgery (robot-assisted surgery and lesser surgery others) are driving this market. Government support and regulations on the price of intraocular lenses, technological advancements in the manufacturing of intraocular lenses, adoption of premium intraocular lenses, and a large number of key players are contributing to the market growth, states Growth Plus Reports

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According to The International Agency for the Prevention of Blindness (IAPB), in 2020,  almost 1.4 billion people were diagnosed with myopia, and 1 billion people have corrected presbyopia. One hundred forty-six million people are diagnosed with diabetic retinopathy and 76 million cases of prime-stage glaucoma. Globally 1.1 billion people live with vision loss, nearly 600 million are far-sighted, and 510 million are near-sighted. It is estimated that by 2050 vision loss cases will go to 1.7 billion.

The global intraocular lens market has been analyzed from four perspectives: Intraocular lens Type, Material, End User, and Regions.

Excerpts from ‘By Intraocular lens Type’

The global intraocular lens market has been segmented into products such as:

  • Accommodative Intraocular Lenses
  • Toric Intraocular Lenses
  • Monofocal Intraocular Lenses
  • Multifocal Intraocular Lenses

Toric intraocular lenses hold the highest market share owing prevalence of ophthalmic diseases, the rising number of astigmatism cases and the increasing geriatric population, the prevalence of diabetes, and the availability of advanced technology for eye surgery contributing to market growth. Additionally, affordability, better treatment outcomes, government reimbursement schemes, and precise astigmatism correction are expanding toric intraocular market growth
Excerpts From ‘By Product Material’
The global intraocular lens market is also segmented based on materials such as:

  • Acrylic
  • Silicone
  • Polymethyl Methacrylate

Acrylic intraocular lenses have a high market share and will continue to expand in the future. Acrylic intraocular lenses are further categorized into hydrophilic and hydrophobic acrylic lenses. The demand for hydrophilic acrylic intraocular lenses is driven by their resistance to breakage, high refractive index, transparency, and elasticity. Moreover, affordability, availability, better mechanical stability, and government reimbursement policies are fueling the acrylic intraocular lens market. Additionally, silicon intraocular lenses are expected to show highest growth in demand owing to high quality of refractive index, tangibility, and affordability.

Excerpts from ‘by End User’

The global intraocular market is segmented based on end users such as:

  • Ambulatory Centers
  • Hospitals And Clinics
  • Research Institutes

The hospitals and clinics segment is dominating the global intraocular lens market owing to the availability of highly skilled surgeons, advanced technologies, government policies for hospital bill reimbursement, and rising patient footfall for diagnosis and treatment, fueling the intraocular market. Additionally, the prevalence of eye disorders, an increasing number of diabetic patients, and the severity of eye diseases that require medical attention are contributing to market growth.

Excerpts from ‘By Region Segmentation’

North America is dominating the global intraocular lens market with modern infrastructure, robust government reimbursement policies, and early adoption of technological advancements. Furthermore, the high geriatric population, perpetual new product launches, large pool of patients with eye diseases, high prevalence of diabetes and diabetic retinopathy, and advanced healthcare infrastructure have played a crucial role in the growth of this region in the global intraocular lens market. Moreover, Europe also showed high potential for market growth. Quick regulatory approvals for novel products, high prevalence of eye disorders in geriatrics are prime driving factors for market growth in the region.

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Excerpts from ‘Competitive Landscape’

Some of the prominent players operating in the global intraocular lens market are:

  • Johnson & Johnson Vision Care Inc.
  • Staar Surgical Company
  • Rayner Intraocular Lenses Limited
  • PhysIOL S.A.
  • Ophtec B.V.
  • Humanoptics AG.
  • Hoya Corporation
  • Eyekon Medical Inc.
  • Carl Zeiss Meditec AG
  • Bausch & Lomb Inc.
  • Aurolab, Alcon, Inc.
  • Nidek Co. Ltd.

Strategic Developments

  • In Dec 2021, Alcon expanded its advanced technology intraocular lenses portfolio with the launch of Clareon monofocal and Clareon toric lenses for cataract and astigmatism treatment. These products have more rotational stability and excellent clarity.
  • In Oct 2021, Alcon launched Vivity intraocular lenses in the Indian market, which are presbyopia-correcting lenses. Vivity is a non-diffractive presbyopia-correcting intraocular lens, which has less visual disturbance.

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Table of Content

  1. INTRODUCTION
    1. Market Ecosystem 
    2. Geographic Scope
    3. Timeline Under Consideration
      1. Historical Years – 2020
      2. Base Year – 2021
      3. Forecast Years – 2022 to 2030
    4. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
  3. PREMIUM INSIGHTS
    1. Current Market Trend (COVID-19 Perspective)
    2. Key Players & Their Competitive Positioning (2021) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints
    3. Opportunities
  5. GLOBAL INTRAOCULAR LENS MARKET - ANALYSIS & FORECAST, BY TYPE
    1. Multifocal Intraocular Lens
    2. Monofocal Intraocular Lens 
    3. Accommodative Intraocular Lens
    4. Toric Intraocular Lens

TOC Continued..

VALUE PROPOSITIONS RELATED TO THE REPORT:

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  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • 'Business Profile' of Key Players

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