Market Definition 

Intraocular lens is implanted in the eye for cataracts or myopia treatment. Intraocular lens helps for clear vision after cataract surgery. The intraocular lens is an artificial lens placed inside the eye that replaces the focusing power of the natural lens. The most common type of intraocular lenses is the pseudophakic IOL.  

Global intraocular lenses market was valued at $XX billion in 2019; with a CAGR of 5.6% from 2020 to 2026. 

Market Dynamics 

Rising prevalence of ophthalmic disorders is a key driving factor of the market. According to the World Health Organization (WHO), globally, around 1 billion have vision impairment in 2018. According to the Centers for Disease Control and Prevention (CDC), globally, 123.7 million people suffer from unaddressed refractive error, 65.2 million people suffer from cataract, and 3 million people suffer from diabetic retinopathy. An estimate of 3 million Americans will be affected by age-related macular degeneration (AMD) by 2020. By 2028, an estimate of 30 million Americans will have cataracts. Furthers, increasing regulatory approval for intraocular lenses is boosting the market growth. For instance, Johnson & Johnson Vision has received the Food and Drug Administration (FDA) approval of TECNIS Toric II 1-Piece Intraocular Lens (IOL). TECNIS Toric II platform offers surface texture and friction on the IOL haptics, which holds an IOL in proper position within the eye. However, postoperative complications might hamper market growth. The dislocation of intraocular lens (IOL) can lead to complications such as blurred and double vision, retinal detachment, bleeding, macular edema, glaucoma, intraocular inflammation, and corneal edema. Moreover, technological advancements in intraocular lens would provide lucrative opportunities for the market in the coming years. 

Market Segmentation 

The global intraocular lenses market is mainly classified based on type and end user. Type is further segmented into Multifocal Intraocular Lens, Monofocal Intraocular Lens, Accommodative Intraocular Lens, and Toric Intraocular Lens. By end user, the market is divided into Hospitals, Ambulatory Surgery Centers, Ophthalmic Clinics, and Others.  

Monofocal intraocular lens has shown significant growth in 2019, due to the technological advancement, increasing investments for intraocular lens by the companies, the partnership between companies to expand their intraocular lens at the global scale and commercialization of regulatory approved intraocular lens. For instance, BVI has introduced IPure, the first and only pre-loaded aspheric monofocal IOL for both a 1-Piece and 3-Piece design for patients undergoing cataract surgery. IPure optics provide high-quality vision and high contrast in a predictable, and efficient preloaded IOL delivery system. 

Regional Analysis 

Based on geography, the global intraocular lenses market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. 

North America is expected to dominate the intraocular lenses market in 2020, owing to the rising incidence of ophthalmic disorders, the collaboration between companies and government bodies to develop and commercialize cost-effective intraocular lenses, and increasing regulatory approval and commercialization of intraocular lenses. For instance, Alcon has received the Food and Drug Administration (FDA) approval and commercialization of AcrySof IQ PanOptix Trifocal Intraocular Lens (IOL), a trifocal lens for patients undergoing cataract surgery. PanOptix is to deliver an exceptional combination of near, intermediate and distance vision while reducing the need for glasses after surgery. 

Competitive landscape 

Key players operating in the intraocular lenses industry include Johnson and Johnson Vision Care, Inc., Carl Zeiss Meditec AG, Alcon, Inc., Bausch & Lomb Incorporated, Hoya Corporation, Rayner Intraocular Lenses, STAAR Surgical Company, EyeKon Medical, Inc., Lenstec, Inc., and Ophtec. 

Commercialization of regulatory approved intraocular lenses, rising investment for the development and supply of intraocular lenses, and Companies are focusing on mergers and acquisitions to expand revenue share and diversify product portfolio are some of the approaches adopted by the major companies. For instance, on March 18, 2019, Alcon has acquired PowerVision, Inc., a US-based medical device company focused on creating fluid-based intraocular lens implants. The acquisition by Alcon is to bring the innovative, accommodating lens to cataract patients throughout the world. 

Intraocular Lenses Market Key Segments: 

By Type 

• Multifocal Intraocular Lens 
• Monofocal Intraocular Lens 
• Accommodative Intraocular Lens 
• Toric Intraocular Lens 

By End User 

• Hospitals 
• Ambulatory Surgery Centers 
• Ophthalmic Clinics 
• Others 

Key Global Intraocular Lenses Industry Players 

• Johnson and Johnson Vision Care, Inc. 
• Carl Zeiss Meditec AG 
• Alcon, Inc. 
• Bausch & Lomb Incorporated 
• Hoya Corporation 
• Rayner Intraocular Lenses 
• STAAR Surgical Company 
• EyeKon Medical, Inc. 
• Lenstec, Inc. 
• Ophtec 

What Report Provides 

• Full in-depth analysis of the parent Industry 
• Important changes in market and its dynamics 
• Segmentation details of the market 
• Former, on-going, and projected market analysis in terms of volume and value 
• Assessment of niche industry developments 
• Market share analysis 
• Key strategies of major players 
• Emerging segments and regional growth potential