Implantable Collamer Lens Market

Implantable Collamer Lens Industry Outlook

The global implantable collamer lens market size is estimated at USD 330.5 million by 2024. As minimally invasive surgery becomes more popular, ICLs are in high demand. The future outlook for the ICL market is projected to increase by 13.2% between 2024 and 2034. A market value of USD 1,141.80 million is expected by 2034.

Attributes	Key Insights
Implantable Collamer Lens Market Size in 2024	USD 330.5 million
Projected Market Value in 2034	USD 1,141.80 million
Value-based CAGR from 2024 to 2034	13.2%

Innovative Technologies will Aid in the Development of Implantable Collamer Lenses

An implantable collamer lens consists of a specially engineered biomaterial called Collamer that is biocompatible and safe. Implantable collamer lenses will remain in place for the long term, thus removing the need for glasses or contacts for long periods. From 2019 to 2023, a CAGR of 22.7% was recorded in the implantable implantable collamer lens market.

As awareness and access to ICL surgery are increased, this vision correction option is likely to become more popular. ICLs are set to become increasingly popular as people become aware of their advantages, even if they cannot qualify for traditional laser vision correction procedures.

The market for these lenses is expected to grow in the future as long as regulatory approvals continue and ICL technology advances. In the future, there are anticipated to be new models and indication ICL devices approved, with new manufacturers entering the market. This will provide patients with a greater variety of options. Based on the projections, the CAGR is expected to reach 13.2% between 2024 and 2034.

Historical CAGR from 2019 to 2023	22.7%
Forecast CAGR from 2024 to 2034	13.2%

Factors Driving ICL Market Growth

• Material, design, and manufacturing advancements are continuously improving the performance of ICLs as well as their safety and comfort.
• With innovative technologies such as customized designs and bioengineered materials, patients can find solutions to a wide range of health concerns.
• Refractive errors, like farsightedness, astigmatism, and myopia, are becoming more prevalent across different age groups, driving the market for ICLs.
• In recent years, ICLs have become more popular as eyeglasses and contacts have become less popular.
• Government funding for research on ophthalmic technologies and vision correction procedures will drive the market.
• With increased awareness of advanced vision correction options and the popularity of surgical procedures, the ICL market is growing.
• Positive experiences and testimonials can also motivate patients to adopt new technologies.
• Lifestyle conveniences and aesthetics are increasing people's preference for vision correction procedures such as ICLs to improve their quality of life.
• Clear vision is the primary advantage of ICLs over glasses or contact lenses because they eliminate the inconvenience of daily wear.

Factors Hindering ICL Market Growth

• Regulations and approval processes can limit market entry. FDA approval of certain ICLs can hamper market growth and accessibility.
• With more companies entering the market and offering similar products, there may be challenges related to competition and saturation.
• Risk perceptions and safety concerns about surgical procedures, including ICL surgery, may restrain market growth.
• Growth in the ICL market may be hindered by limited awareness among patients and healthcare providers.
• Some individuals, particularly in areas with limited healthcare services, may not be able to afford ICL surgery.

Country-wise Analysis

Regional variations in ICL adoption can be seen in the table below giving an overview of how the market is trending in each of the countries. Major ICL manufacturers in many countries focus on high-quality materials and integrated technologies.

Forecasts indicate growth in United States, Spain, Germany, Italy and the United Kingdom. On a global scale, North America is expected to become a key industry. The next largest market is Southern Europe, followed by the rest of the world. The economic growth of emerging economies is creating new markets for ICLs.

Forecast CAGRs from 2024 to 2034

Countries	Value CAGR
The United States	19.8%
United Kingdom	12.8%
Germany	14.8%
Italy	15.5%
Spain	17.5%

Advances in Technology in United States to Drive Demand for Implantable Collamer Lens

ICLs, or implantable collamer lenses, are becoming one of the most popular vision correction options in the United States. Technological advancement and minimally invasive surgeries to create a market for ICL’s in United States.

The market is forecast to expand at a CAGR of 19.8% over the next few decades. As more patients seek long-term vision correction solutions, ICLs are steadily gaining in popularity in the United States.

In the wake of advances in technology and better surgical techniques, ICLs have become a good option for people looking to improve their quality of life.

Medical Tourism Increases Implantable Collamer Lens Demand in United Kingdom

ICLs are increasingly being adopted in the United Kingdom as more people seek advanced vision solutions. ICLs are poised for mainstream adoption in the United Kingdom, as surgical techniques and awareness continue to advance. United Kingdom will contribute 12.8% CAGR during the next ten years.

Reimbursement policies by insurance companies for ICL implantation surgery to drive demand in next few years. A growing amount of medical tourism in the country will likely boost sales of implantable collamer lenses in the coming years. Increasing infrastructure development and high quality practitioners will drive the demand for the market.

Regulatory Frameworks to Promote Implantable Collamer Lens Demand in Germany

Germany is anticipated to expand at a CAGR of 14.8% during the forecast period. The market for pain-free procedures is experiencing a surge in popularity among consumers who are becoming aware of the benefits. Regulations on the safety and efficacy of ICLs, impacting market approval processes are expected to play a major role.

Stringent quality control and sterilization standards for ICL manufacturing is expected to boost the market. In June 2022, the German Commission on Refractive Surgery (KRC) will released its guidelines for ICL implantation, including guidelines for myopia and astigmatism between 1.0 D and +1.0 D. Regulations on product liability for medical devices like ICLs are expected to increase demand.

Natural Vision to Accelerate ICL Growth in Spain

Among the options available for achieving youthful and natural vision, implantable collamer lenses have grown in popularity in Spain over the past few years. In addition to offering clear vision, ICLs preserve the aesthetics and integrity of the eye as they do not alter the natural curvature of the cornea. They are particularly popular among women who value beauty and vitality.

The combination of vision correction and youthful appearance is particularly appealing to those who are searching for vision correction solutions. In addition to enjoying crisp, natural vision, people in Spain can also enjoy outstanding comfort and aesthetics with ICLs. A 17.5% CAGR is forecasted for Spain between 2024 and 2034.

Custom-made Designs in Italy Boost Market Ahead

With an appreciation for craftsmanship and meticulousness, implantable collamer lenses are highly valued in Italy. ICLs offer tailor-made correction with unique visual needs, as they value aesthetics and design. Rising disposable income and increasing patient demand for elective vision correction procedures to expand the market.

The market for implantable collamer lenses in Italy is expected to expand at a CAGR of 15.5%. ICLs offer precise and customized correction for refractive errors, including astigmatism and high myopia, in a world where high-quality vision enhancement options are highly sought-after.

Category-wise Insights

Detailed information about the leading segment can be found in the following section. Based on the end user, the hospital segment held 52.4% market share in 2023. Based on indication, the myopia segment accounted for a market share of 78.2% in 2023.

Category	Market Share 2023
Myopia	78.2%
Hospital	52.4%

Material Innovation to Drive Myopia Demand

Based on indications, myopia is likely to show prominent growth for implantable collamer lenses in the market. Across the globe, eye health problems like myopia are on the rise, along with glaucoma, cataracts, and retinal damage.

As myopia prevalence increases, implantable collamer lenses (ICLs) are expected to become more popular as a treatment option. As ICLs grow in popularity, innovations in their materials, designs, and applications can contribute to their predictability, efficacy, and safety.

Innovators are developing new products like the EVO Visian ICL for correcting super-high myopia, which will increase demand for ICLs.

Growing Infrastructure and Safety are Crucial to Market Expansion

Based on end users, the hospital segment is likely to grow the demand for ICL. Assuring the safety and control of ICL surgeries, hospitals provide the necessary infrastructure and facilities.

After surgery, hospitals monitor the patients' progress as part of following up with them and performing regular checks to ensure the ICL is functioning properly. The hospital plays an important role in informing patients about the advantages, dangers, and potential side effects of ICL surgery. In order to make informed decisions, they provide patients with information.

Support and guidance are provided by hospitals in the case of difficulties or post-surgery symptoms such as pressure, blurred vision, or possible infection indicators.

Competitive Landscape

A highly competitive environment fosters innovation, with companies concentrating their efforts on advanced lens materials, and customized designs. Strategies for new entrants to focus on niche markets. Mergers and acquisitions in the ICL market to expand the market further.

Some of the key developments are:

• In March 2024, STAAR Surgical Company, a leading manufacturer, developer and marketer of Implantable Collamer Lenses (ECL) for myopia, presbyopia, and astigmatism, declared the sale of three million lenses worldwide.
• In October 2021, Alcon Laboratories India Pvt Ltd added wavefront-shaping technology to its presbyopia-correcting intraocular lens (PC-IOL) - the AcrySof IQ Vivity IOL (Vivity). A new PC-IOL can now be prescribed for cataract surgery by Indian ophthalmologists.

Report Scope

Attributes	Details
Estimated Market Size in 2024	USD 330.5 million
Projected Market Valuation in 2034	USD 1,141.80 million
Value-based CAGR 2024 to 2034	13.2%
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	Value in USD million
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia; East Asia; The Middle East and Africa
Key Market Segments Covered	Indication, End User, Region
Key Countries Profiled	The United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel
Key Companies Profiled	STAAR Surgical; Alcon; Carl Zeiss Meditec; Johnson & Johnson; Bausch +Lomb

Implantable Collamer Lens - Key Segments

By Indication:

The market is classified into Myopia, Hyperopia and Astigmatism.

By End User:

The report consists of key sourcing such as hospitals, ophthalmic clinics, ambulatory surgical centers, eye research institutes.

By Region:

Analysis of the market has been undertaken in major markets of North America, Latin America, Western Europe, South Asia, East Asia, Eastern Europe, and Middle East & Africa.

Frequently Asked Questions

How big is implantable collamer lens market?

The market is estimated to be worth USD 330.5 million in 2024.

How will the market fare in the 2034?

Market size is projected to reach USD 1,141.80 million by 2034.

What is the growth outlook for the market for implantable collamer lens?

A 13.2% CAGR is projected for the implantable collamer lens market between 2024 and 2034.

Which indication type is likely to grow the market?

Myopia is expected to be the largest segment in the market.

Which country's growth is expected to be fastest?

United States is expected to lead the market with 19.8% CAGR.