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Intraocular Lens (IOL) Market: Global Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024


 

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Global Intraocular Lens (IOL) Market

 

By Product Type (Monofocal IOL, Multifocal IOL, Toric IOL, and Accommodative IOL), By Material (Polymethylmethacrylate (PMMA), Silicone, and Hydrophobic Acrylate), By Distribution Channel (Hospitals, Ambulatory Surgery Centers, and Ophthalmology Centers), and Geography – Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024

 

Global intraocular lens (IOL) market was valued at US$ XX Mn in 2017 and expected to grow at 5.5% Compound Annual Growth Rate (CAGR) from 2018 to 2024

 

Market Outline: Intraocular Lens (IOL) Market

Intraocular lens (IOL) are the medical devices that are implanted inside the eye during cataract surgery. They are artificial tiny lens used to replace the eye’s natural lens. The intraocular lens (IOL) are also used for a type of vision correction surgery, called as refractive lens exchange. Earlier, if the cataracts are removed in the surgery the patient had to wear very thick glasses since there was no device implanted in order to replace the focusing power of the eye. The lens refracts the light rays that enter the eye, helping to see. If the patient has cataract, the lens becomes cloudy. The cataract surgery helps in the removal of the cloudy lens replacing it with clear intraocular lens (IOL) to improve the vision.

 

Market Dynamics: Intraocular Lens (IOL) Market

Increase in the prevalence of cataract and vision disorders are driving the growth of the intraocular lens (IOL) market. The developing technology is adding aid for the development of novel surgical options such as micro incision surgery and femtosecond lasers which is also playing a major role in the growth of intraocular lens (IOL) market. The adoption of the modern surgical treatments and increasing diabetic population along with rise in conditions such as cataract and glaucoma is boosting the intraocular lens (IOL) market. However, the higher cost involved in the the surgical procedures is likely to hinder the market. The complications such as refractive defects post-surgery are also hampering the intraocular lens (IOL) market.

 

Market Scope: Intraocular Lens (IOL) Market

Intraocular lens (IOL) market is segmented based on the product type, material, and distribution channel

Based on the product type, the market is segmented into the following:

  • Monofocal IOL
  • Multifocal IOL
  • Toric IOL
  • Accommodative IOL

Based on the material, the market is segmented into the following:

  • Polymethylmethacrylate (PMMA)
  • Silicone
  • Hydrophobic acrylate

Based on the distribution channel, the market is segmented into the following:

  • Hospitals
  • Ambulatory Surgery Centers
  • Ophthalmology Centers

 

Regional Analysis:  Intraocular Lens (IOL) Market

Geographically, global intraocular lens (IOL) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America intraocular lens (IOL) market growth driven by increase in the prevalence of cataract, vision issues and rising diabetic patient population with ocular issues. According to the World Health Organization, the cataract is the leading cause for blindness. There are around 76.2% adults in U.S who underwent vision correction surgery in 2015, as per the Vision Council. The growth in this region is expected to be significant over the forecast period. Followed by North America are the regions of Europe and Asia Pacific. The government initiatives and the support from the non-profitable organizations in spreading awareness about the advanced surgical procedures is anticipated to propel the demand for the intraocular lens (IOL).

 

Competition Assessment: Intraocular Lens (IOL) Market

Some of the players in the global intraocular lens (IOL) market include:

  • HOYA Corporation (Japan)
  • Alcon, Inc. (US)
  • Rayner Intraocular Lenses Limited (UK)
  • Carl Zeiss Meditec (Germany)
  • Alcon, Inc. (US)
  • NIDEK CO., LTD. (Japan)
  • Hanita Lenses R.C.A Ltd. (Israel)
  • Omni Lens Pvt Ltd. (India)
  • Swiss Advanced Vision (Switzerland)
  • Oculentis GmbH (Germany)
  • Aurolab (India)
  • Omni Lens Pvt Ltd. (India)

 

Notable Market Developments: Intraocular Lens (IOL) Market

  • In September 2017, Swiss Advanced Vision (SAV-IOL SA) announced the launch of LUCIDIS and EDEN, two new intraocular lenses (IOLs) for the cataract surgery, both using the Instant Focus EDOF patented technology.

 

Key Features of the Report:

  • The report covers exhaustive regional information, that includes North America (The USA and Canada), Europe (Germany, France, Italy, UK, Spain, Russia, Poland and Rest of Europe), Asia-Pacific (Japan, China, India, Australia & New Zealand, ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others), South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, Venezuela, and Rest of Latin America), and Middle East and Africa (Gulf Cooperation Council (GCC) Countries, Israel, South Africa, and Rest of Middle East and Africa)
  • The report provides granular level information about the market size, regional market share, historic market (2013-2017) and forecast (2018-2024)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startup’s details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenari0
  • HOYA Corporation (Japan)
  • Alcon, Inc. (US)
  • Rayner Intraocular Lenses Limited (UK)
  • Carl Zeiss Meditec (Germany)
  • Alcon, Inc. (US)
  • NIDEK CO., LTD. (Japan)
  • Hanita Lenses R.C.A Ltd. (Israel)
  • Omni Lens Pvt Ltd. (India)
  • Swiss Advanced Vision (Switzerland)
  • Oculentis GmbH (Germany)
  • Aurolab (India)
  • Omni Lens Pvt Ltd. (India)

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