Newly-released Intraocular Lens industry analysis report by Future Market Insights shows that global sales of the Intraocular Lens market in 2021 were held at USD 4.3 Billion. With a projected CAGR of 6% from 2022 to 2032, the market is expected to reach a valuation of USD 8.2 Billion by 2032.
The demand for Multifocal Intraocular lenses is expected to gross the highest revenue and grow at a CAGR of 6.1% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Intraocular Lens Market (2022) | USD 4.6 Billion |
| Global Intraocular Lens Market (2032) | USD 8.2 Billion |
| Global Intraocular Lens Market CAGR (2022 to 2032) | 6% |
| North America Intraocular Lens Market Share (2022) | ~40% |
| USA Intraocular Lens Market CAGR (2022 to 2032) | 5.4% |
| Key Companies Covered | Alcon, Inc.; Johnson and Johnson Vision Care, Inc.; Bausch + Lomb Incorporated; Carl Zeiss Meditec AG (ZEISS International); Rayner; EyeKon Medical, Inc.; Lenstec, Inc.; HumanOptics AG; STAAR Surgical Company; HOYA CORPORATION |
As per the Intraocular Lens industry research by Future market insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Intraocular Lens industry increased at around 5.7% CAGR, wherein, countries such as the USA, United Kingdom, China, Japan, and South Korea held a significant share in the global market.
The growing need to reduce healthcare costs while improving operational efficiency in healthcare organizations, as well as the growing need to maintain regulatory compliance and ensure the safety, security, and confidentiality of healthcare data, are the key drivers of the intraocular lens market.
Owing to this, the Intraocular Lens market is projected to grow at a CAGR of 6% over the coming 10 years.
During the forecast period, the market in Asia Pacific is expected to grow at the fastest rate. The presence of a large geriatric and diabetic population, both of whom are susceptible to cataracts and other ophthalmic disorders, is driving the market in the region.
Due to the large number of elderly people and the availability of reimbursements, the market in the Asia Pacific is expected to grow rapidly over the next five years. Besides, a large pool of patients and rising government funding are two key driving forces for the intraocular lens market in emerging countries.
Furthermore, the regional market is growing due to increased awareness of advanced treatment options and an influx of patients from developed countries seeking affordable healthcare.
USA Market Analysis
With a revenue share of over 35% in 2021, the USA dominated the global intraocular lens market. This is due to an increase in the prevalence of cataracts and other ophthalmic conditions. Furthermore, the market in the USA is growing due to well-defined regulatory guidelines and reimbursement policies for cataract treatment.
More than 11 million Americans have common vision issues that can be corrected with prescriptive eyewear such as glasses or contact lenses, according to the National Eye Institute of the National Institutes of Health. More than 150 million Americans wear corrective eyewear, with an annual expenditure of more than USD 15 billion.
As a result, over the forecast period, the rise in ophthalmic conditions across the region is expected to drive the intraocular lens market.
United Kingdom Market Analysis
The intraocular lens market in the United Kingdom is expected to reach a valuation of USD 329 Million by 2032, growing at a CAGR of 5.6% from 2022 to 2032. There are over 2.3 Million people living in the United Kingdom who are classified as having moderate-sever vision loss. With these statistics, the market in the United Kingdom swells.
Japan Market Analysis
Glaucoma, diabetic retinopathy, degenerative myopia, age-related macular degeneration, and cataract accounts for 24.3%, 20.6%, 12.2%, 10.9%, and 7.2% visual impairments in Japan. Besides, there exists a large population with moderate vision loss. These figures take the Japanese Intraocular Lens Market projection to USD 518 Million by 2032.
South Korea Market Analysis
The South Korean intraocular lens market is projected to reach a valuation of USD 180 Million, growing at a CAGR of 7.3% from 2022 to 2032.
Due to the benefits that multifocal intraocular lenses provide, such as high precision and improved visualization, the multifocal intraocular lens segment dominated the intraocular lens market in 2021.
Furthermore, since they provide three vision zones, multifocal intraocular lenses are effective in treating patients with complex disorders and multiple retinal issues. In comparison to traditional mono-focal lenses, these vision zones allow patients to see far, intermediate, and close distances more efficiently and precisely.
The toric intraocular lens, which is beneficial specifically for patients with moderate to high astigmatism, was the second-largest segment in 2021 and is expected to grow at a lucrative rate over the forecast period. Astigmatism causes either hypermetropia, myopia, or both in patients.
Toric intraocular lenses are designed specifically for such patients. Furthermore, toric IOLs are designed to eliminate the need for incision implants, which were previously required during astigmatism surgical procedures, increasing their popularity among people.
The rapid growth of the geriatric population and associated eye disorders, the rising prevalence of eye diseases and diabetes in the overall population globally, technological advancements in intraocular lenses, and increasing government initiatives to control and treat cataract-related blindness are the key factors driving this category forward.
Companies' increasing focus on emerging markets, as well as a gradual shift towards newer technologies, are providing significant growth opportunities for intraocular lens manufacturers.
In 2021, the intraocular lens market revenue through hospitals accounted for a revenue share of over 50.6% and was valued at USD 2.1 billion. Although the majority of cataract and vision-repair surgeries are carried out in hospitals, individual ophthalmic clinics are increasing in number in developing countries.
Alcon, Inc. (a Novartis AG division), Johnson & Johnson, Valeant, Carl Zeiss Meditec AG, Rayner, EyeKon Medical, Inc., Lenstec, Inc., Human Optics AG, and Physiol are the key players in the intraocular lens market. The intraocular lens market is consolidated, with a few key players accounting for the majority of revenue.
The key players are concentrating their efforts on completing acquisitions that will help them strengthen their market position. Furthermore, key players are forming alliances with non-profit organizations to raise awareness about cataracts and other eye diseases.
Manufacturers are also showing a keen interest in introducing new products to the market, which will help them maintain a strong product portfolio.
Companies are concentrating on low-cost surgical advancements for ophthalmic disorders.
Some of the recent developments of key players in the Intraocular Lens Market are as follows:
Similarly, recent developments related to companies offering Intraocular Lens have been tracked by the team at Future Market Insights, which are available in the full report.
Table 1: Global Market Value (US$ Million) Forecast by Region, 2017 to 2032
Table 2: Global Market Volume (Units) Forecast by Region, 2017 to 2032
Table 3: Global Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 4: Global Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 5: Global Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 6: Global Market Volume (Units) Forecast by End User, 2017 to 2032
Table 7: North America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 8: North America Market Volume (Units) Forecast by Country, 2017 to 2032
Table 9: North America Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 10: North America Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 11: North America Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 12: North America Market Volume (Units) Forecast by End User, 2017 to 2032
Table 13: Latin America Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 14: Latin America Market Volume (Units) Forecast by Country, 2017 to 2032
Table 15: Latin America Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 16: Latin America Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 17: Latin America Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 18: Latin America Market Volume (Units) Forecast by End User, 2017 to 2032
Table 19: Europe Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 20: Europe Market Volume (Units) Forecast by Country, 2017 to 2032
Table 21: Europe Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 22: Europe Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 23: Europe Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 24: Europe Market Volume (Units) Forecast by End User, 2017 to 2032
Table 25: East Asia Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 26: East Asia Market Volume (Units) Forecast by Country, 2017 to 2032
Table 27: East Asia Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 28: East Asia Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 29: East Asia Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 30: East Asia Market Volume (Units) Forecast by End User, 2017 to 2032
Table 31: South Asia Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 32: South Asia Market Volume (Units) Forecast by Country, 2017 to 2032
Table 33: South Asia Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 34: South Asia Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 35: South Asia Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 36: South Asia Market Volume (Units) Forecast by End User, 2017 to 2032
Table 37: Oceania Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 38: Oceania Market Volume (Units) Forecast by Country, 2017 to 2032
Table 39: Oceania Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 40: Oceania Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 41: Oceania Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 42: Oceania Market Volume (Units) Forecast by End User, 2017 to 2032
Table 43: MEA Market Value (US$ Million) Forecast by Country, 2017 to 2032
Table 44: MEA Market Volume (Units) Forecast by Country, 2017 to 2032
Table 45: MEA Market Value (US$ Million) Forecast by Product Type, 2017 to 2032
Table 46: MEA Market Volume (Units) Forecast by Product Type, 2017 to 2032
Table 47: MEA Market Value (US$ Million) Forecast by End User, 2017 to 2032
Table 48: MEA Market Volume (Units) Forecast by End User, 2017 to 2032
Figure 1: Global Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 2: Global Market Value (US$ Million) by End User, 2022 to 2032
Figure 3: Global Market Value (US$ Million) by Region, 2022 to 2032
Figure 4: Global Market Value (US$ Million) Analysis by Region, 2017 to 2032
Figure 5: Global Market Volume (Units) Analysis by Region, 2017 to 2032
Figure 6: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 7: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 8: Global Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 9: Global Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 12: Global Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 13: Global Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 14: Global Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 15: Global Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 16: Global Market Attractiveness by Product Type, 2022 to 2032
Figure 17: Global Market Attractiveness by End User, 2022 to 2032
Figure 18: Global Market Attractiveness by Region, 2022 to 2032
Figure 19: North America Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 20: North America Market Value (US$ Million) by End User, 2022 to 2032
Figure 21: North America Market Value (US$ Million) by Country, 2022 to 2032
Figure 22: North America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 23: North America Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 26: North America Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 27: North America Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 28: North America Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 29: North America Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 30: North America Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 31: North America Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 34: North America Market Attractiveness by Product Type, 2022 to 2032
Figure 35: North America Market Attractiveness by End User, 2022 to 2032
Figure 36: North America Market Attractiveness by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 38: Latin America Market Value (US$ Million) by End User, 2022 to 2032
Figure 39: Latin America Market Value (US$ Million) by Country, 2022 to 2032
Figure 40: Latin America Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 41: Latin America Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 44: Latin America Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 45: Latin America Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 48: Latin America Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 49: Latin America Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 50: Latin America Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 52: Latin America Market Attractiveness by Product Type, 2022 to 2032
Figure 53: Latin America Market Attractiveness by End User, 2022 to 2032
Figure 54: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 55: Europe Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 56: Europe Market Value (US$ Million) by End User, 2022 to 2032
Figure 57: Europe Market Value (US$ Million) by Country, 2022 to 2032
Figure 58: Europe Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 59: Europe Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 62: Europe Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 63: Europe Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 64: Europe Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 66: Europe Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 67: Europe Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 68: Europe Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 69: Europe Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 70: Europe Market Attractiveness by Product Type, 2022 to 2032
Figure 71: Europe Market Attractiveness by End User, 2022 to 2032
Figure 72: Europe Market Attractiveness by Country, 2022 to 2032
Figure 73: East Asia Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 74: East Asia Market Value (US$ Million) by End User, 2022 to 2032
Figure 75: East Asia Market Value (US$ Million) by Country, 2022 to 2032
Figure 76: East Asia Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 77: East Asia Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 78: East Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 79: East Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 80: East Asia Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 81: East Asia Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 82: East Asia Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 83: East Asia Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 84: East Asia Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 85: East Asia Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 86: East Asia Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 87: East Asia Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 88: East Asia Market Attractiveness by Product Type, 2022 to 2032
Figure 89: East Asia Market Attractiveness by End User, 2022 to 2032
Figure 90: East Asia Market Attractiveness by Country, 2022 to 2032
Figure 91: South Asia Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 92: South Asia Market Value (US$ Million) by End User, 2022 to 2032
Figure 93: South Asia Market Value (US$ Million) by Country, 2022 to 2032
Figure 94: South Asia Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 95: South Asia Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 96: South Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 97: South Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 98: South Asia Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 99: South Asia Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 100: South Asia Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 101: South Asia Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 102: South Asia Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 103: South Asia Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 104: South Asia Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 105: South Asia Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 106: South Asia Market Attractiveness by Product Type, 2022 to 2032
Figure 107: South Asia Market Attractiveness by End User, 2022 to 2032
Figure 108: South Asia Market Attractiveness by Country, 2022 to 2032
Figure 109: Oceania Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 110: Oceania Market Value (US$ Million) by End User, 2022 to 2032
Figure 111: Oceania Market Value (US$ Million) by Country, 2022 to 2032
Figure 112: Oceania Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 113: Oceania Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 114: Oceania Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 115: Oceania Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 116: Oceania Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 117: Oceania Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 118: Oceania Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 119: Oceania Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 120: Oceania Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 121: Oceania Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 122: Oceania Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 123: Oceania Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 124: Oceania Market Attractiveness by Product Type, 2022 to 2032
Figure 125: Oceania Market Attractiveness by End User, 2022 to 2032
Figure 126: Oceania Market Attractiveness by Country, 2022 to 2032
Figure 127: MEA Market Value (US$ Million) by Product Type, 2022 to 2032
Figure 128: MEA Market Value (US$ Million) by End User, 2022 to 2032
Figure 129: MEA Market Value (US$ Million) by Country, 2022 to 2032
Figure 130: MEA Market Value (US$ Million) Analysis by Country, 2017 to 2032
Figure 131: MEA Market Volume (Units) Analysis by Country, 2017 to 2032
Figure 132: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 133: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 134: MEA Market Value (US$ Million) Analysis by Product Type, 2017 to 2032
Figure 135: MEA Market Volume (Units) Analysis by Product Type, 2017 to 2032
Figure 136: MEA Market Value Share (%) and BPS Analysis by Product Type, 2022 to 2032
Figure 137: MEA Market Y-o-Y Growth (%) Projections by Product Type, 2022 to 2032
Figure 138: MEA Market Value (US$ Million) Analysis by End User, 2017 to 2032
Figure 139: MEA Market Volume (Units) Analysis by End User, 2017 to 2032
Figure 140: MEA Market Value Share (%) and BPS Analysis by End User, 2022 to 2032
Figure 141: MEA Market Y-o-Y Growth (%) Projections by End User, 2022 to 2032
Figure 142: MEA Market Attractiveness by Product Type, 2022 to 2032
Figure 143: MEA Market Attractiveness by End User, 2022 to 2032
Figure 144: MEA Market Attractiveness by Country, 2022 to 2032
The global Intraocular Lens market is worth more than USD 4.3 Billion at present.
The value of the Intraocular Lens is projected to increase at a CAGR of around 5.6% from 2022 to 2032.
From 2022 to 2032, the market in Asia Pacific is expected to grow at the fastest rate.
The top 5 countries driving demand for Intraocular Lens are the USA, China, Japan, the United Kingdom, and South Korea.
In 2021, North America dominated the intraocular lens market with over 40% share. This is due to the rising prevalence of cataracts and rising medicare expenditures in the region to improve eye care.
An upsurge in contract surgeries and the launch of government initiatives in surgical treatments for cataract removal, as well as technological advancements, are the key factors driving the intraocular lens demand.
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Intraocular Lens Market
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