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 US$ 4.3 Billion. With a projected CAGR of 6% from 2022 to 2032, the market is expected to reach a valuation of US$ 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) | US$ 4.6 Billion |
| Global Intraocular Lens Market (2032) | US$ 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 |
|
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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.
Principal Consultant
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 US$ 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 US$ 518 Million by 2032.
South Korea Market Analysis
The South Korean intraocular lens market is projected to reach a valuation of US$ 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 US$ 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.
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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.
The global Intraocular Lens market is worth more than US$ 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.
1. Executive Summary | Intraocular Lens Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2017 to 2021
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2022 to 2032
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product Type, 2017 to 2021
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product Type, 2022 to 2032
5.3.1. Monofocal Intraocular Lens
5.3.2. Multifocal Intraocular Lens
5.3.3. Toric Intraocular Lens
5.3.4. Accommodative Intraocular Lens
5.4. Y-o-Y Growth Trend Analysis By Product Type, 2017 to 2021
5.5. Absolute $ Opportunity Analysis By Product Type, 2022 to 2032
6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End User
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End User, 2017 to 2021
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End User, 2022 to 2032
6.3.1. Hospitals
6.3.2. Ophthalmic Clinics
6.3.3. Ambulatory Surgery Centers
6.3.4. Eye Research Institutes
6.4. Y-o-Y Growth Trend Analysis By End User, 2017 to 2021
6.5. Absolute $ Opportunity Analysis By End User, 2022 to 2032
7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2017 to 2021
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2022 to 2032
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. East Asia
7.3.5. South Asia
7.3.6. Oceania
7.3.7. Middle East and Africa(MEA)
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
8.2.1. By Country
8.2.1.1. USA
8.2.1.2. Canada
8.2.2. By Product Type
8.2.3. By End User
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Product Type
8.3.3. By End User
8.4. Key Takeaways
9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Argentina
9.2.1.4. Rest of Latin America
9.2.2. By Product Type
9.2.3. By End User
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Product Type
9.3.3. By End User
9.4. Key Takeaways
10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2. Italy
10.2.1.3. France
10.2.1.4. United Kingdom
10.2.1.5. Spain
10.2.1.6. Russia
10.2.1.7. BENELUX
10.2.1.8. Rest of Europe
10.2.2. By Product Type
10.2.3. By End User
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Product Type
10.3.3. By End User
10.4. Key Takeaways
11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.2. By Product Type
11.2.3. By End User
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Product Type
11.3.3. By End User
11.4. Key Takeaways
12. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
12.2.1. By Country
12.2.1.1. India
12.2.1.2. Thailand
12.2.1.3. Malaysia
12.2.1.4. Indonesia
12.2.1.5. Rest of South Asia
12.2.2. By Product Type
12.2.3. By End User
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Product Type
12.3.3. By End User
12.4. Key Takeaways
13. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
13.2.1. By Country
13.2.1.1. Australia
13.2.1.2. New Zealand
13.2.2. By Product Type
13.2.3. By End User
13.3. Market Attractiveness Analysis
13.3.1. By Country
13.3.2. By Product Type
13.3.3. By End User
13.4. Key Takeaways
14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2017 to 2021
14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2022 to 2032
14.2.1. By Country
14.2.1.1. GCC Countries
14.2.1.2. Rest of Middle East and Africa(MEA)
14.2.2. By Product Type
14.2.3. By End User
14.3. Market Attractiveness Analysis
14.3.1. By Country
14.3.2. By Product Type
14.3.3. By End User
14.4. Key Takeaways
15. Key Countries Market Analysis
15.1. USA
15.1.1. Pricing Analysis
15.1.2. Market Share Analysis, 2021
15.1.2.1. By Product Type
15.1.2.2. By End User
15.2. Canada
15.2.1. Pricing Analysis
15.2.2. Market Share Analysis, 2021
15.2.2.1. By Product Type
15.2.2.2. By End User
15.3. Brazil
15.3.1. Pricing Analysis
15.3.2. Market Share Analysis, 2021
15.3.2.1. By Product Type
15.3.2.2. By End User
15.4. Mexico
15.4.1. Pricing Analysis
15.4.2. Market Share Analysis, 2021
15.4.2.1. By Product Type
15.4.2.2. By End User
15.5. Argentina
15.5.1. Pricing Analysis
15.5.2. Market Share Analysis, 2021
15.5.2.1. By Product Type
15.5.2.2. By End User
15.6. Germany
15.6.1. Pricing Analysis
15.6.2. Market Share Analysis, 2021
15.6.2.1. By Product Type
15.6.2.2. By End User
15.7. Italy
15.7.1. Pricing Analysis
15.7.2. Market Share Analysis, 2021
15.7.2.1. By Product Type
15.7.2.2. By End User
15.8. France
15.8.1. Pricing Analysis
15.8.2. Market Share Analysis, 2021
15.8.2.1. By Product Type
15.8.2.2. By End User
15.9. United Kingdom
15.9.1. Pricing Analysis
15.9.2. Market Share Analysis, 2021
15.9.2.1. By Product Type
15.9.2.2. By End User
15.10. Spain
15.10.1. Pricing Analysis
15.10.2. Market Share Analysis, 2021
15.10.2.1. By Product Type
15.10.2.2. By End User
15.11. Russia
15.11.1. Pricing Analysis
15.11.2. Market Share Analysis, 2021
15.11.2.1. By Product Type
15.11.2.2. By End User
15.12. BENELUX
15.12.1. Pricing Analysis
15.12.2. Market Share Analysis, 2021
15.12.2.1. By Product Type
15.12.2.2. By End User
15.13. China
15.13.1. Pricing Analysis
15.13.2. Market Share Analysis, 2021
15.13.2.1. By Product Type
15.13.2.2. By End User
15.14. Japan
15.14.1. Pricing Analysis
15.14.2. Market Share Analysis, 2021
15.14.2.1. By Product Type
15.14.2.2. By End User
15.15. South Korea
15.15.1. Pricing Analysis
15.15.2. Market Share Analysis, 2021
15.15.2.1. By Product Type
15.15.2.2. By End User
15.16. India
15.16.1. Pricing Analysis
15.16.2. Market Share Analysis, 2021
15.16.2.1. By Product Type
15.16.2.2. By End User
15.17. Thailand
15.17.1. Pricing Analysis
15.17.2. Market Share Analysis, 2021
15.17.2.1. By Product Type
15.17.2.2. By End User
15.18. Malaysia
15.18.1. Pricing Analysis
15.18.2. Market Share Analysis, 2021
15.18.2.1. By Product Type
15.18.2.2. By End User
15.19. Indonesia
15.19.1. Pricing Analysis
15.19.2. Market Share Analysis, 2021
15.19.2.1. By Product Type
15.19.2.2. By End User
15.20. Australia
15.20.1. Pricing Analysis
15.20.2. Market Share Analysis, 2021
15.20.2.1. By Product Type
15.20.2.2. By End User
15.21. New Zealand
15.21.1. Pricing Analysis
15.21.2. Market Share Analysis, 2021
15.21.2.1. By Product Type
15.21.2.2. By End User
15.22. GCC Countries
15.22.1. Pricing Analysis
15.22.2. Market Share Analysis, 2021
15.22.2.1. By Product Type
15.22.2.2. By End User
16. Market Structure Analysis
16.1. Competition Dashboard
16.2. Competition Benchmarking
16.3. Market Share Analysis of Top Players
16.3.1. By Regional
16.3.2. By Product Type
16.3.3. By End User
17. Competition Analysis
17.1. Competition Deep Dive
17.1.1. Alcon, Inc.
17.1.1.1. Overview
17.1.1.2. Product Portfolio
17.1.1.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.1.4. Sales Footprint
17.1.1.5. Strategy Overview
17.1.1.5.1. Marketing Strategy
17.1.1.5.2. Product Strategy
17.1.1.5.3. Channel Strategy
17.1.2. Johnson and Johnson Vision Care, Inc.
17.1.2.1. Overview
17.1.2.2. Product Portfolio
17.1.2.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.2.4. Sales Footprint
17.1.2.5. Strategy Overview
17.1.2.5.1. Marketing Strategy
17.1.2.5.2. Product Strategy
17.1.2.5.3. Channel Strategy
17.1.3. Bausch + Lomb Incorporated
17.1.3.1. Overview
17.1.3.2. Product Portfolio
17.1.3.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.3.4. Sales Footprint
17.1.3.5. Strategy Overview
17.1.3.5.1. Marketing Strategy
17.1.3.5.2. Product Strategy
17.1.3.5.3. Channel Strategy
17.1.4. Carl Zeiss Meditec AG
17.1.4.1. Overview
17.1.4.2. Product Portfolio
17.1.4.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.4.4. Sales Footprint
17.1.4.5. Strategy Overview
17.1.4.5.1. Marketing Strategy
17.1.4.5.2. Product Strategy
17.1.4.5.3. Channel Strategy
17.1.5. Rayner
17.1.5.1. Overview
17.1.5.2. Product Portfolio
17.1.5.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.5.4. Sales Footprint
17.1.5.5. Strategy Overview
17.1.5.5.1. Marketing Strategy
17.1.5.5.2. Product Strategy
17.1.5.5.3. Channel Strategy
17.1.6. EyeKon Medical, Inc.
17.1.6.1. Overview
17.1.6.2. Product Portfolio
17.1.6.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.6.4. Sales Footprint
17.1.6.5. Strategy Overview
17.1.6.5.1. Marketing Strategy
17.1.6.5.2. Product Strategy
17.1.6.5.3. Channel Strategy
17.1.7. Lenstec, Inc.
17.1.7.1. Overview
17.1.7.2. Product Portfolio
17.1.7.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.7.4. Sales Footprint
17.1.7.5. Strategy Overview
17.1.7.5.1. Marketing Strategy
17.1.7.5.2. Product Strategy
17.1.7.5.3. Channel Strategy
17.1.8. HumanOptics AG
17.1.8.1. Overview
17.1.8.2. Product Portfolio
17.1.8.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.8.4. Sales Footprint
17.1.8.5. Strategy Overview
17.1.8.5.1. Marketing Strategy
17.1.8.5.2. Product Strategy
17.1.8.5.3. Channel Strategy
17.1.9. STAAR Surgical Company
17.1.9.1. Overview
17.1.9.2. Product Portfolio
17.1.9.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.9.4. Sales Footprint
17.1.9.5. Strategy Overview
17.1.9.5.1. Marketing Strategy
17.1.9.5.2. Product Strategy
17.1.9.5.3. Channel Strategy
17.1.10. HOYA CORPORATION
17.1.10.1. Overview
17.1.10.2. Product Portfolio
17.1.10.3. Profitability by Market Segments (Product/Age /Sales Channel/Region)
17.1.10.4. Sales Footprint
17.1.10.5. Strategy Overview
17.1.10.5.1. Marketing Strategy
17.1.10.5.2. Product Strategy
17.1.10.5.3. Channel Strategy
18. Assumptions & Acronyms Used
19. Research Methodology
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Intraocular Lens Market
