The global Intraocular Lens (IOL) market size was valued at USD 4.24 billion in 2022. The market is projected to grow from USD 4.52 billion in 2023 to USD 7.19 billion by 2030, exhibiting a CAGR of 6.9 % during the forecast period.

The Global Intraocular Lens Market report we give includes insights and information about market revenue size or value, historical and future growth of the target market/industry, revenue share, recent developments and ongoing trends, investment strategies, business advancements, and investments, and so on. The Intraocular Lens Market report also includes subjective complete research and is based on direct study and analysis of quantitative and deep-dive data and information, which is subsequently confirmed by an expert panel and/or through industry professionals, participants in the target market. Furthermore, the Global Intraocular Lens Market report covers various drivers, restraints, opportunities, and external threats until 2030.

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Prominent Manufacturers in Global Intraocular Lens Market Industry Report:

  • Alcon
  • Johnson & Johnson Services, Inc.
  • Bausch & Lomb Incorporated
  • HOYA Corporation
  • STAAR SURGICAL
  • Rayner Intraocular Lenses Limited
  • Oculentis
  • Hanita Lenses
  • SIFI S.p.A
  • Biotech

Market Drivers

The growth of the intraocular lens (IOL) market is expected to be driven by the increasing number of cataract procedures and the high prevalence of cataracts. Cataract surgery is one of the most common ophthalmic procedures, and its volume has been on the rise. According to a 2021 article published by Cataract Refractive Surgery Today (CRST), more than 20.0 million cataract procedures are performed globally each year. The growing number of cases of blindness and cataract surgeries is expected to fuel market growth. Furthermore, the introduction of various government initiatives and policies is anticipated to further stimulate market expansion. However, the lack of reimbursement policies for premium products in certain countries may hinder market growth.

Segments

The market is categorized into two main types: monofocal and premium, with the premium segment further divided into multifocal intraocular lenses, toric lenses, and others. The dominance in the market is expected to be held by the monofocal segment, primarily driven by the increasing number of government initiatives that promote the use of monofocal lenses in cataract surgeries. Additionally, the premium segment is projected to exhibit significant growth opportunities owing to its various advantages in addressing complex vision issues such as presbyopia or astigmatism.

Regional Insights

North America is expected to dominate the market share of intraocular lenses (IOLs) driven by several factors. The region exhibits a strong demand for innovative products like custom cataract lenses, which leads to their rapid adoption. Additionally, favorable insurance policies further contribute to the growth of the market. In 2021, the market in North America reached a valuation of USD 1.24 billion, primarily due to the increasing number of approvals for novel products.

Europe holds the position of the second-largest market share in 2021. This is attributed to the rising number of cataract surgeries, the growing adoption of femtosecond lasers for cataract surgeries involving hydrophobic and hydrophilic acrylic lenses, and the increasing preference for toric lenses.

Asia Pacific is poised for significant development throughout the forecast period. This growth is driven by the high prevalence of cataracts among the aging population, as they are more susceptible to cataract formation.

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