Intraocular Lens Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2023 – 2030

 Intraocular Lens Industry Overview

The global Intraocular Lens Market size is expected to reach USD 6.2 billion by 2030, based on a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.8% from 2022 to 2030. The rise in the geriatric and diabetic population, which is prone to develop cataracts and other visual disorders, is expected to foster market growth. In addition, rising awareness regarding visual disorders, increase in healthcare spending, and government support to improve the healthcare infrastructure are some of the significant factors boosting the growth of the market.

Although the market has witnessed a bit of a downfall in overall sales during the first half of the pandemic, it is expected to recover and flourish during the forecast period. The restrictions and lockdowns imposed by the government affected the market negatively in terms of demand as well supply. While the volume of procedures drastically dropped down due to the change in healthcare priorities, the shutdown of manufacturing units led to the shortage in the supply of intraocular lenses. However, with the opening up of the economies and the introduction of vaccines, the market is expected to witness steady growth and earn significant profits during the forecast period.

The market for intraocular lenses was negatively affected during the pandemic due to the postponement and delaying of elective procedures. Cataract surgery is an elective procedure and therefore it was postponed to prevent the patients from contracting the virus. However, the market has begun to recover and the market players and ophthalmologists are focusing on recovering the losses and making the optimum use of technology to overcome the losses incurred during the pandemic. This will help the market to grow despite the challenges possessed by the pandemic. 

Intraocular Lens Market Segmentation

Grand View Research has segmented the global intraocular lens market based on product, end use, and region:

Based on the Product Insights, the market is segmented into Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular Lens and Accommodative Intraocular Lens.

  • The equipment segment is expected to witness the highest CAGR of 8.84% over the forecast period. The segment is further segmented into therapeutic, diagnostic, and mobility assistance.
  • The services segment dominated the market and captured the largest revenue share of 84.33% in 2022. Service providers focus on covering the entire scope to deliver the best services to the geriatric population.

Based on the End-Use Insights, the market is segmented into Hospitals, Ophthalmic Clinics, Ambulatory Surgery Centers and Eye Research Institutes.

  • The supermarkets and hypermarkets segment dominated the market for Intraocular Lens and accounted for the largest revenue share of over 51.1% in 2021.
  • The e-commerce segment is projected to register a CAGR of 9.9% from 2022 to 2030. Rising internet penetration amongst consumers and target marketing done by companies to reach all customer touch-points are likely to fuel the growth of this segment.

Intraocular Lens Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa (MEA)

Key Companies Profile

The market is highly fragmented due to the presence of a large number of multinational as well as local market players. Moreover, the consolidation activities undertaken by multinational companies are estimated to increase competition amongst new and local market players.

Some prominent players in the global Intraocular Lens market include

  • Alcon, Inc.
  • Johnson and Johnson Vision Care, Inc.
  • Bausch & Lomb Incorporated
  • Carl Zeiss Meditec AG (ZEISS International)
  • Rayner
  • EyeKon Medical, Inc.
  • Lenstec, Inc.
  • HumanOptics AG
  • STAAR Surgical Company
  • HOYA CORPORATION

Order a free sample PDF of the Intraocular Lens Market Intelligence Study, published by Grand View Research.

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