Intraocular Lens (IOL) Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021-2027

In 2020, the global Intraocular Lens (IOL) market size was US$ 3820 million and it is expected to reach US$ 5411.3 million by the end of 2027, with a CAGR of 5.1% during 2021-2027. The increasing prevalence of eye diseases and diabetes in the global population, technological improvements in intraocular lenses, and increased government initiatives to manage and treat blindness caused by cataracts are all factors driving the Intraocular Lens market. Furthermore, the increase in the use of premium lenses, which give benefits such as increased visual performance and reduced astigmatism, is aiding the Intraocular Lens market's expansion. 

The Intraocular Lens market is predicted to develop due to an increase in the number of cataract surgeries performed as well as an increase in the geriatric population. When cataract surgery removes the natural lens, intraocular lenses (IOLs) are medical implants that are implanted inside the eye to replace it. Refractive lens exchange surgery, which is a type of vision correction surgery, also uses IOLs.

According to the World Health Organization, cataract is a major concern worldwide and is currently the leading cause of blindness. As the prevalence of cataracts has increased, so has the global demand for intraocular lenses. According to the Vision Council, 76.2 percent of adults in the United States underwent vision correction surgery in 2015, and 22.1 percent said they needed it. These factors lead to the Intraocular Lens market growth.

The intraocular lens market is projected to be boosted even further by government initiatives to eliminate cataracts. For example, the International Agency for the Prevention of Blindness (IAPB) has launched Vision 2020, a global program with the goal of eliminating the leading causes of preventable blindness around the world. In addition, the Chinese government put about $200 million into their campaign.

However, the market is projected to be hampered by an unfavorable reimbursement scenario for premium lenses, as well as postoperative problems such as refractive errors.

The two major markets, North America and Europe represent around 80% of the global market. The foldable intraocular lens is the most prevalent type, accounting for over 95% of the market. Hospitals, both governmental and private, are the most typical applications.

Based on type, the Foldable intraocular lens has the highest percentage of sales by type, with more than 94% in 2019.

According to the application, the consumption ratio of private hospitals is the highest, reaching 67.28% in 2019.

Companies are concentrating on low-cost surgical breakthroughs for ocular problems. Mergers and acquisitions are being pursued by major intraocular lens producers in order to increase revenue share and diversify product portfolios. As a result, corporations' increasing focus on emerging markets and the gradual shift toward new technologies are providing considerable growth potential for market players.

The major players in the global Intraocular Lens (IOL) market include ALCON, AMO(Abbott), Bausch + Lomb, etc. The top 3 players occupy about 65% shares of the global market. 

• Non-foldable lenses
• Foldable Intraocular Lens

Intraocular Lens (IOL) Market by Application

• Public hospitals
• Private hospitals

• ALCON
• AMO(Abbott)
• Bausch + Lomb
• HOYA
• CARL Zeiss
• Ophtec
• Rayner
• STAAR
• Lenstec
• HumanOptics
• Biotech Visioncare
• Omni Lens Pvt Ltd
• Aurolab
• SAV-IOL
• Eagle Optics
• SIFI Medtech
• Physiol