NEWS: Intraocular Lens Market — Global Industry Analysis and Forecast 2020 to 2027

Intraocular Lens Market: Summary

The Global Intraocular Lens Market is projected to reach a value of USD 5.61 billion by 2027 at a CAGR of 5.3%.

An intraocular lens implant is referred to as the synthetic lens implanted in the eye for treating refractive errors. It is mainly used for treating refractive errors or vision correction and eye disorders such as cataract, glaucoma, diabetic retinopathy, amblyopia, and others. The growth of the global intraocular lens market is driven by the growing prevalence of eye disorders, rise in the elderly population with diabetes, which are more prone the eye diseases requiring intraocular lens implant. On the flip side, the relatively higher price of the premium IOLs is hampering the market growth.

Intraocular Lens Market: Market Dynamics

Market Driver:

  • Increasing Prevalence of Eye Disorders

Market Restraint:

  • Higher Cost of Intraocular Lens Implant Compared to Contact Lens Correction

Market Opportunity:

  • Increasing use of Artificial Intelligence (AI) in the IOLs

Intraocular Lens Market: Key Segments

  • The Intraocular Lens market is majorly segmented into type, form, material, and end-user.

Intraocular Lens Market: Key Regions

On the basis of region, the market is divided into the Americas, Europe, Asia Pacific, Latin America, Middle East & Africa. The Americas lead the global intraocular lens market by accounting for a 48.95% market share in 2019 owing to the increased prevalence of eye disorders especially among the aged population. Also, the presence of major manufacturers such as Johnson and Johnson Services Inc., Bausch & Lomb Incorporated, and STAAR SURGICAL among others is driving the growth of this market in the Americas. The Asia-Pacific is expected to grow at the highest CAGR of 6.04% due to presence of huge patient population for eye related diseases in China, Japan and India. Favorable initiatives by Asian countries to minimize the vision impairment is driving the demand for IOLs in Asia-Pacific.

Intraocular Lens Market: Report Scope

The report on the Intraocular Lens market covers a deep dive analysis of historic, recent, and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered, and the entire supply chain dynamics are covered through the below segmentation.

Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2019–2027Historical Year2018Base Year2019Forecasted Period2020–2027 (2020 estimated year, forecast up to 2027)Measured UnitsValue (USD Million)Segments IncludedType, Form, Material, and End-userRegional CoverageAmericas, Europe, Asia-Pacific, and Middle East & Africa

Key Companies Covered

  • Alcon (Company Overview, Financial Overview, Product Synopsis, Key Developments, SWOT Analysis, & Key Strategy)

Intraocular Lens Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Intraocular Lens Market, by Type

  • Pseudophakic IOLs

Intraocular Lens Market, by Product

  • Monofocal IOLS

Intraocular Lens Market, by Form

  • Rigid

Intraocular Lens Market, by Material

  • Polymethylmethacrylate (PMMA)

Intraocular Lens Market, by End-user

  • Hospital

Intraocular Lens Market, by Region

  • Americas

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?

Report Audience

  • Intraocular Lens Market Providers

60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE INTRAOCULAR LENS MARKET STUDY

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