Intraocular Lens (IOL) Market Size by Segments, Share, Regulatory, Reimbursement, Procedures and Forecast to 2033
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Intraocular Lens (IOL) Market Report Overview
The intraocular lens (IOL) market was valued at $4.48 billion in 2023. The market is anticipated to register a CAGR of more than 2% from 2023 to 2033. The intraocular lens is an artificial lens used in vision correction procedures such as cataracts to replace the cloudy or defective natural eye lens. Vision impairment severely impacts the quality of life among adult populations resulting in lower rates of workforce participation and productivity. Vision restoration and rehabilitation are very effective in improving functioning for people with irreversible eye conditions such as cataracts, diabetic retinopathy, glaucoma, and age-related macular degeneration. Thus, with the rise in the number of eye surgeries, the use of IOLs is likely to surge during the projected period considerably.
Intraocular Lens Market Outlook 2023-2033 ($ Billion)
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The intraocular lens market research report is built to visualize quantitative market trends within ophthalmic devices therapeutic areas. Furthermore, the model discusses the in-depth impact of COVID-19 on the intraocular lens market for the year 2020 and beyond. The report has extensively covered pipeline products and technologies, which will help in identifying companies with the most robust pipeline. This, in turn, will assist in predictive analysis for designing in-licensing and out-licensing strategies.
Market Size (2023) | $4.48 billion |
CAGR (2023-2033) | >2% |
Historic Period | 2015-2023 |
Forecast Period | 2023-2033 |
Key Segments |
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Key Regions |
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Key Companies |
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Intraocular Lens Market Dynamics
The IOL market is expected to grow at a steady rate during the forecast period as it is a vital component of many eye surgeries including cataract and refractive errors. Moreover, factors such as the rise in the global geriatric population, the high prevalence of ocular disorders, and the surge in awareness will influence the IOL market growth positively during the projected period.
Intraocular Lens Market Segments
The key segments in the intraocular lens market are foldable IOL and polymethyl methacrylate (PMMA) IOL. In 2023, the foldable IOL dominated the market share. This segment is further classified into monofocal foldable IOL, multifocal foldable IOL, and toric foldable IOL. Among these, the monofocal foldable IOL sub-segment accounted for the highest share of the market in 2023. These IOLs are likely to displace standard monofocal IOLs because they offer patients more spectacle independence with negligible dysphotopsia.
Intraocular Lens Market Analysis by Segments, 2023 (%)
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Intraocular Lens Market Segmentation by Regions
The key regions in the intraocular lens market are Asia-Pacific, Europe, the Middle East and Africa, North America, and South and Central America. In 2023, the Asia-Pacific had the largest and fastest-growing IOL market due to a large patient pool with a rising prevalence of cataracts and refractive error. Furthermore, favorable government policies such as the National Health Insurance and relaxation of customs duties will boost market growth within Asia-Pacific.
Intraocular Lens Market Analysis by Regions, 2023 (%)
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Intraocular Lens Market – Competitive Landscape
The key companies in the Intraocular lens market are Alcon Inc., Johnson & Johnson, Hoya Corp, Carl Zeiss Stiftung AG, Bausch Health Companies Inc., and STAAR Surgical Company among others. In 2023, Alcon Inc. accounted for the highest intraocular lens market share.
Intraocular Lens Market Analysis by Companies, 2023 (%)
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Segments Covered in this Report.
Intraocular Lens Segment Outlook ($ Million, 2015-2033)
- Foldable IOL
- Monofocal Foldable IOL
- Multifocal Foldable IOL
- Toric Foldable IOL
- Polymethyl Methacrylate (PMMA) IOL
- Overall
Intraocular Lens Regional Outlook ($ Million, 2015-2033)
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- South and Central America
Key Inclusions of the market model are –
Currently marketed intraocular lens market and evolving competitive landscape –
- Insightful review of the key industry trends.
- Annualized total intraocular lens market revenue by segment and market outlooks from 2015-2033.
- Market-level data on units, average selling prices, and market values.
Global, Regional, and Country level market specific insights –
- Qualitative market-specific information is available with global trends further broken down into regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- SWOT analysis for the Intraocular lens market.
- Competitive dynamics insights and trends provided for the intraocular lens market.
Understand the market by getting the veritable big picture including an overview of the healthcare system. In addition, the Market Access segment allows you to delve deeper into market dynamics with information on reimbursement policies and the regulatory landscape.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. Demand and supply-side primary sources are integrated within the syndicated models, including Key Opinion Leaders. In addition, real-world data sources are leveraged to determine market trends; these include government procedure databases, hospital purchasing databases, and proprietary online databases.
Companies covered: Alcon Inc., Johnson & Johnson, Hoya Corp, Carl Zeiss Stiftung AG, Bausch Health Companies Inc., STAAR Surgical Company, and Others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
This market model gives important, expert insight you won’t find in any other source. The model illustrates qualitative and quantitative trends within the specified market. This model is required reading for
- CMO executives who must have a deep understanding of the Intraocular lens marketplace to make strategic planning and investment decisions.
- Sourcing and procurement executives must understand crucial components of the supply base to make decisions about supplier selection and management.
- Private equity investors who need a deeper understanding of the market to identify and value potential investment targets.
Reasons to Buy
The model will enable you to –
- Understand the impact of COVID-19 on intraocular lenses.
- Develop and design your in-licensing and out-licensing strategies through a review of pipeline products and technologies, and by identifying the companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving intraocular lenses.
- Generate revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the intraocular lens market in the future.
- Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company’s share of market leaders.
- Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
- Track device sales in the global and country-specific intraocular lens market from 2015-2033.
- Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments, and strategic partnerships.
Johnson & Johnson Vision Care Inc
Hoya Corp
Carl Zeiss AG
Bausch & Lomb Inc
STAAR Surgical Company
Others
Frequently asked questions
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What was the intraocular lens market size in 2023?
The intraocular lens market size was $4.48 billion in 2023.
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What will the CAGR growth rate in the intraocular lens market be during 2023-2033?
The market is anticipated to register a CAGR of more than 2% from 2023 to 2033.
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Which was the leading segment in the intraocular lens market?
The foldable IOL segment was leading the intraocular lens market in 2023.
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Which region dominated the intraocular lens market in 2023?
Asia-Pacific was the largest regional segment of the intraocular lens market in 2023.
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Which are the key companies operating in the intraocular lens market?
The key companies in the Intraocular lens market are Alcon Inc., Johnson & Johnson, Hoya Corp, Carl Zeiss Stiftung AG, Bausch Health Companies Inc., and STAAR Surgical Company, among others.
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