Intraocular Lens Market, by Type (Monofocal IOLs and Premium IOLs); By Application (Cataract Surgery, Refractive Lens Exchange Surgery, and Trauma Surgery); By Material (Polymethylmethacrylate (PMMA), Silicon, Hydrophobic Acrylic, and Hydrogel); By End-User (Hospitals, Ambulatory Surgical Centers (ASCs), Ophthalmology Clinics, and Eye Research Institutes): Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2022

Global intraocular lens market expected to reach USD 4,500 million by 2022 and is exhibit a CAGR of over 5% between 2017 and 2022.

19-Feb-2018 | Number of pages: 110 | Report Code: ZMR-2627 | Report Format : | Status : Published

Abstract

Report Brief

  • The report covers the forecast and analysis of the intraocular lens market on the global as well as regional level
  • The report incorporates the positive and the negative factors that are affecting the growth of the market
  • The market opportunities are discussed in detail in the report
  • The key target audience for the market has been determined in the report
  • The revenue generated by the major industry players has been analyzed in the report
  • Top-down and bottom-up approaches have been used to calculate the market numbers
  • The intraocular market has been analyzed using the Porter’s Five Forces Analysis
  • The intraocular lens market is segmented on the basis of type, application, material, end-user which in turn is bifurcated on regional level as well
  • The present and the future trends were taken into consideration while evaluating the complete segments
  • The report deals with the in-depth quantitative and qualitative analyses of the intraocular lens market
  • The report includes the detailed company profiles of the prominent market players

Market Summary

Overview

Intraocular lenses are artificial lenses that are used to replace the eye’s natural lens which is removed during the cataract surgery. The most common type of IOL is the pseudophakic IOL. These are implanted during cataract surgery after the cloudy eye's natural lens (colloquially called a cataract) is removed. The pseudophakic IOL provides the same light focusing function as the natural crystalline lens. The intraocular lens provides natural and a better vision, with an improved correction which help the patients to see without glasses more frequently than the vision before surgery.

Value

The global intraocular lens market was valued at around USD 3,200 million in the year 2016 and it is expected to reach approximately USD 4,500 million by 2022. The global intraocular lens market is expected to grow at a CAGR of over 5% between 2017 and 2022.

Drivers and Restraints

Cataract is the most common cause of distorted vision for people above the age of 50. According to WHO, there are 180 million estimated people living with blindness. Around 50% of the blind population is suffering from cataract and can be cured with surgeries. The widespread occurrence of cataract surgeries has led to the growth of the intraocular lens market.

As cataract is seen in major of the geriatric population with some exceptions, the growing geriatric population also serves as a driver for the global intraocular lenses market.

Some noteworthy campaigns and initiatives are taken by WHO such as VISION 2020 -- the right to sight: A Global Initiative for the Elimination of Avoidable Blindness contributes to the growth of the market. The increasing initiatives taken by the government at a comprehensive level is expected to boost the global intraocular lens market.

Global Intraocular Lens Market

Segmentation

The monofocal IOLs dominated the type segment of the intraocular lens market during 2016. The monofocal IOLs products are used more as it can be used for near focus, for mid-distance focus, and for distance focus. Thus, this segment will continue to grow in the coming years as the individuals with cataract in both the eyes highly prefer monofocal IOLs over other products. The monofocal IOLs was the leading segment in the year 2016 and it accounted for over 59.1% market share of total revenue.

In the application segment, cataract surgery dominated the intraocular market. Intraocular lens market is majorly driven by the increased prevalence of cataract. Cataract surgery accounted for over 56.1% share of the overall market in 2016. Cataract surgery is the most preferred surgical procedure in developing as well as developed countries. Growing geriatric population susceptible to ocular conditions and the high presence of unmet medical needs especially in emerging and underdeveloped economies is expected to boost the market growth.

In the material segment, hydrophobic acrylic is expected to hold a major share in the market growth. This material group is used commonly as the polymers of acrylate are foldable under room temperature. The materials have very low water content, a high refractive index, and usually a high memory, which also makes the material suitable for the haptics of a monobloc open-loop IOL.

Ambulatory surgery centers and ophthalmology clinics are expected to witness the fastest growth over the years to come. This growth is mainly due to escalating popularity of outpatient settings for cataract surgery, ease of access to ophthalmology clinics, and increasing number of cataract surgeries performed in the ambulatory surgery centers.

By geography, North America dominated the intraocular lens market with over 46% market share of total revenue generated in 2016. According to the Vision Council, around 76.2% adults in the U.S. underwent vision correction surgery in 2015, and nearly 22.1% of the adults expressed that they need vision correction.

Industry Players

Some of the key players of intraocular lens market are Alcon (Novartis AG), Aurolab, Bausch & Lomb Incorporated, Carl Zeiss Meditec AG, EyeKon Medical, Inc, HOYA Surgical Optics, HumanOptics, Johnson & Johnson Vision Care, Inc., Lenstec, Inc., MORCHER GmbH., Oculentis, Omni Lens, Ophtec BV, PowerVision, Inc., Rayner Intraocular Lenses Limited, SAV-IOL SA, STAAR Surgical among others.

The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their product portfolio; for instance, ZEISS strengthened its sales and services in Russia, Ukraine, CIS Countries, and Georgia by acquiring a majority stake in Optec Group.


Related Reports

Infection Surveillance Solutions Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026

Price : $ 3999.00 | Report Code: ZMR-3937 | Report Format:

Global Infection Surveillance Solutions Market: Overview Infection surveillance solutions are basically programs that help in effective management of the healthcare-acquired infections (HAIs), such as urinary tract infections, pneumonia, primary bloodstream infections, gastrointestinal illness, ...Read More

Medication Pouch Inspection Systems Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026

Price : $ 3999.00 | Report Code: ZMR-3929 | Report Format:

Global Medication Pouch Inspection Systems Market: Overview Medication pouch inspection systems can inspect pouches rapidly with extremely high precision. The number of pouches that can be inspected every minute can go up to 300. The precision rate is estimated to be close to 98%, which translat...Read More

Myasthenia Gravis Market by Diagnosis (Edrophonium Tests, Blood Tests, Pulmonary Function Tests, Electrodiagnostic, Imaging, and Others), by Treatment (Surgery, Medication, Plasmapheresis and Intravenous Immunoglobulin, Autologous Hematopoietic Stem Cell Transplantation (HSCT), and others), and by End-User (Hospitals, Academic Research Institutes, Clinics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025

Mar-2019 | Price : $ 4899.00 | Pages: 110 | Report Code: ZMR-3927 | Report Format:

The report covers a forecast and an analysis of the myasthenia gravis market on a global and regional level. The study provides historical data for 2016, 2017, and 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints of the myasthen...Read More

Healthcare Assistive Robot Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026

Price : $ 3999.00 | Report Code: ZMR-3922 | Report Format:

Global Healthcare Assistive Robot Market: Overview Various technological advancements have been witnessed related to the healthcare assistive robots in the last years. These healthcare assistive robots help in better patient care along with shortened visits to the therapist for post recovery sup...Read More

Healthcare Reimbursement Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026

Price : $ 3999.00 | Report Code: ZMR-3921 | Report Format:

Global Healthcare Reimbursement Market: Overview The healthcare reimbursement system across the world is a highly complicated framework to obtain repayment regarding healthcare services. Among the primary concerns of the healthcare reimbursement system are the rules that govern healthcare reimbu...Read More

Download Brochure
Why Choose Us ?

24/5 Research support

Resolved your research queries from industry expert. Request for a free research sample before report purchase.

Custom research service

Ask the Analyst to customize an exclusive study to serve your research needs.

Quality & Accuracy

Zion Market Research reports offers best quality reports based on various authentic and accurate data findings.

Customer Satisfaction

We ensure that our client's all research needs are met with customized, in-depth analysis solutions.

Information security

We never share your personal and confidential information. Your personal information is safe and secure with us.