Global Intraocular Lens Market Report and Forecast 2024-2032

Global Intraocular Lens Market

The global intraocular lens market value was USD 4.27 billion in 2023, driven by the increasing prevalence of cataracts and other eye-related disorders across the globe. The market size is anticipated to grow at a CAGR of 5.6% during the forecast period of 2024-2032 to achieve a value of USD 6.97 billion by 2032.

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Increasing Demand for Technologically Advanced and Correcting Lens Boosting the Industry Growth

The demand for the intraocular lens is being driven by the rising cases of computer vision syndrome that is caused by looking at the screen for too long. In addition to this, the industry is accelerated by the growing digitalisation and the increasing use of computers for professional work. Due to the escalating use of computers at almost every workplace or in one’s leisure time, there is a great risk of getting computer vision syndrome without any regard to being old or young. Recently, there has been a rising demand for technologically advanced premium IOLs, such as multifocal IOLs, accommodating IOL, presbyopia- and astigmatism-correcting intraocular lens (IOL), extended depth of focus (EDoF) IOL. Also, in order to improve the quality of vision and reduce the risk of blindness, the demand for the intraocular lens is increasing. The rising focus of companies to capture emerging countries and gradually shift towards newer technologies are predicted to provide significant growth opportunities for players in this market.

Intraocular Lens: Market Segmentation

Intraocular lenses (IOL) refer to the medical devices that are implanted inside the eye to replace natural eye lens in order to treat refractive errors or cataract.

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Based on product, the market is segmented into:

• Monofocal
• Multifocal
• Toric
• Accommodative
• Others

Based on end use, the market is segmented into:

• Hospitals
• Ophthalmic Clinics
• Ambulatory Surgery Centres
• Eye Research Institutes
• Others

The EMR report looks into the regional markets of intraocular lens like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Surge in Cataract Cases to Bolster the Market Growth of Intraocular Lens

The market is propelled by the increasing ophthalmic issues and growing cases of cataracts in the diabetic population. This is caused by various factors, such as the use of electronics for a long period of time, staring at the screen for hours for work or for leisure activities like chatting. Rapid digitalisation and rising use of electronic devices like mobile phones, computers, tablets, and laptops, among others, due to excessively engaging social media platforms, are contributing to a high risk to their vision capacity. The rising use of social media and changing mode of work has facilitated the use of electronic devices, which has affected many irrespective of their age. A large section of people beyond 60 years of age is often very likely to be affected by various kinds of ophthalmic issues that are chronic and demand eye corrections. As a repercussion of this unhealthy trend, there is an increase in the demand for intraocular lens treatment. Since this treatment offers more precise solutions and varied options for physicians, there is certainly an increase in the demand for intraocular lens. Further, the growth in this market can be attributed to the rapid growth of eye disorders, the growing prevalence of eye diseases and diabetes across the globe, technological advancements, and rising government initiatives to treat blindness caused by cataracts.

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Key Industries Players in the Global Intraocular Lens Market

The report presents a detailed analysis of the following key players in the global intraocular lens market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Johnson and Johnson Vision Care, Inc. 
• Bausch & Lomb Incorporated
• Carl Zeiss Meditec AG
• Eyekon Medical, Inc. 
• HumanOptics AG
• Others

The comprehensive report looks into macro and micro aspects of the industry. The EMR report gives an in depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report