The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s intraocular lens market report forecasts the intraocular lens market size to grow to $6.12 Billion by 2027, with a CAGR (compound annual growth rate) of 7%.

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Intraocular Lens Market Size Forecast
The global intraocular lens market is expected to grow from $4.43 billion in 2022 to $4.67 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The intraocular lens market size is expected to grow to $6.12 billion in 2027 at a CAGR of 7.0%.

North America held the largest intraocular lens market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Intraocular Lens Market Driver ­– Rise In The Prevalence Of Eye Diseases
According to a 2020 survey, about 27.5 crore (275 million) Indians damaged their eyes due to excessive screen time in the COVID-19 lockdown. By 2030, dry eye disease in India will affect nearly 40% of the urban population. Due to hectic lifestyles, cases of vision loss have been increasing globally. The rising prevalence of eye diseases will drive the intraocular lens market.

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Key Intraocular Lens Market Trend – Technological Advancement
For example, in January 2022, Alcon, a global leader in eye care, announced the commercial launch of the first presbyopia-correcting intraocular lens with wavefront-shaping technology, AcrySof® IQ Vivity® IOL (Vivity®). This new lens is being made available to Indian ophthalmologists for patients undergoing cataract surgery.

Intraocular Lens Market Segment
1) By Type: Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric intraocular lens, Accommodating Intraocular Lens
2) By Material: Polymethylmethacrylate (PMMA), Silicone, Hydrophobic Acrylic
3) By End User: Hospitals, Ambulatory Surgery Centres, Ophthalmology Clinics, Eye Research Institutes

Intraocular Lens Market Major Players and Strategies
Major players in the intraocular lens market are Bausch + Lomb, Alcon, Johnson & Johnson, Carl Zeiss Meditec, Hoya Corporation, Staar Surgical Company, Rayner Intraocular Lenses, Physiol, Ophtec, Oculentis, EyeKon Medical Inc., Lenstec Inc., SAV IOL, Hanita Lenses, SIFI S.p.A, Biotech, Abbott Medical Optics Inc., Valeant, Aurolab, and Nidek CO. Ltd .

In June 2021, Rayner, a UK-based manufacturer of intraocular lenses for cataract and refractive surgery, acquired Surgicon Healthcare Pvt Limited for an undisclosed amount. The acquisition enables Rayner to quickly expand its worldwide presence by providing surgeons and patients throughout India with its robust pipeline of cutting-edge intraocular lenses (IOLs), ophthalmic viscoelastic devices (OVDs), and dry eye drop solutions. Surgicon Healthcare Pvt Limited is an India-based manufacturer of ophthalmology products, including intraocular lenses.

The Intraocular Lens Global Market Report 2023 covers regional data on intraocular lens market size, intraocular lens market trends and drivers, opportunities, strategies, and intraocular lens market competitor analysis. The countries covered in the intraocular lens market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Intraocular lens refers to the medical devices that are implanted inside the eye to replace the eye’s natural lens when it is being removed during cataract surgery. An intraocular lens is an artificial replacement for the lens of the eye. ILOs are used for a type of vision correction surgery called refractive lens exchange.

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