Intraocular Lens (IOL) Market

Global Intraocular Lens (IOL) Market Size, Trends & Analysis - Forecasts to 2027 By Type (Monofocal Intraocular Lens, Accommodative Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular Lens), By Material (Hydrophobic Acrylic, Hydrophilic Acrylic, Polymethylmethacrylate (PMMA), Others), By End-Users (Hospitals and Surgical Centers, Ambulatory Surgical Centers, Ophthalmology Clinics, Eye and Research Institutes), Company Market Share Analysis, and Competitor Analysis

Category Healthcare
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This report was recently updated on November 18 2024 with the latest and most recent market numbers

Global Intraocular Lens (IOL) Market Size

The global intraocular lens (IOL) market is projected to grow from USD 4.2 billion in 2022 to USD 5.8 billion by 2027 at a CAGR value of 4.4% from 2022 to 2027.

Intraocular lenses are artificial lenses that are implanted into the eyes of people with impairments during cataract surgery. According to the National Center for Biotechnology Information, approximately 6 million cataract surgeries are conducted each year. The market's expansion can be attributable to an increase in the usage of premium lenses, which provide benefits such as improved visual performance and low astigmatism.

The explosive development of the rising geriatric and affiliated eye disorders, rising prevalence of eye diseases and diabetes in the overall population around the world, technological developments in intraocular lenses, and enhancing policy initiatives to regulate and cure cataract-related blindness are all factors driving this market forward. According to a recent poll in the United States, cataract surgery is performed on more than half of the elderly population (over the age of 80).

Furthermore, governments and non-governmental organisations (NGOs) in a number of countries are promoting free eye exams and surgery, as well as health reimbursements, which is moving the industry forward. Aside from that, the major players are developing trifocal lenses, which negates the need for glasses. Also, investment   into research and development (R&D) to develop sophisticated lenses that can benefit patients with both near and far eyesight which is expected to further propel market growth.

Cataract is a major concern worldwide, as per the World Health Organization, and is currently the main cause of visual impairment. The global need for intraocular lenses has soared as the prevalence of cataracts have increased. According to the Vision Council, 76.2 percent of adults in the United States had vision correction surgery in 2021, and 22.1 percent of respondents stated that they needed vision correction. These components contribute to the market's expansion.

The COVID-19 had a significant impact on the market because many patients were scared to seek medical treatment and cataract surgery in hospitals and other institutions as a result of the virus. Due to the global shutdown, only emergency operations and minor procedures were carried out and despite a decline in intraocular lens sales during the pandemic, the market is rebounding and is predicted to grow steadily during the forecast period, as a result of greater awareness of glaucoma and increased spending on healthcare, which are expected to promote intraocular lens sales.

Nevertheless, operations and treatments come at a high cost, and there might be many reflecting failures and errors afterward, which are important bottlenecks affecting the global intraocular lens market.

global intraocular lens (iol) market

Intraocular Lens (IOL) Market: By Type

Based on the type, the market is segmented into monofocal intraocular lens, accommodative intraocular lens, multifocal intraocular lens, and toric intraocular lens.

The multifocal intraocular lens segment is expected to grow the fastest in the intraocular lens (IOL) market from 2022 to 2027 due to the advantages such as higher accuracy and visibility. Furthermore, since they provide three visual zones, multifocal intraocular lenses are efficacious in curing individuals with complicated diseases and various retinal problems.

The toric intraocular lens segment emerged as the second-largest segment in 2021 and is expected to witness lucrative growth over the forecast period as it is particularly effective for people with mild to severe astigmatism. They are also specifically developed to avoid the necessity for incisions implants, which are normally necessary throughout astigmatism surgical operations, hence boosting personal discretion.

Intraocular Lens (IOL) Market: By Material

On the basis of material, the market is segmented into hydrophobic acrylic, hydrophilic acrylic, polymethylmethacrylate (PMMA), and others.

The hydrophobic acrylic segment is expected to hold a larger share as compared to other segments owing to the low moisture content and high refractive index provided by them. Ophthalmologists are increasingly turning to these lenses as they provide excellent mechanical stability, uveal biocompatibility, and reduced level of posterior capsular opacification (PCO).

Intraocular Lens (IOL) Market: By End-User

The market is divided into hospitals and surgical centers, ambulatory surgical centers, ophthalmology clinics, eye and research institutes on the basis of end-users.

The hospitals and surgical centers segment are expected to grow the fastest in the intraocular lens (IOL) market from 2022 to 2027. The developing growth of public hospitals, NGOs offering free treatments and operations to patients, a rise in medical claims prices, and growing demands for daycare eye surgery are the primary factors for the market segment's growth. In addition, the rise of ophthalmology surgeons and clinics around the world is expected to boost the segment's growth.

asia pacific intraocular lens (iol) market

Intraocular Lens (IOL) Market:  By Region

As per the geographical analysis, the intraocular lens (IOL) market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).

North America (the United States, Canada, and Mexico) will have a dominant share in the intraocular lens (IOL) market from 2022 to 2027. The increased prevalence of cataract disorders in the region, particularly among the elderly and middle-aged, is critical for future growth potential. This region is expected to grow owing to the rising prevalence and use of advanced technologies, as well as the growing need for improved and higher-quality healthcare services.

Moreover, the Asia-Pacific region is expected to be the fastest-growing segment during the forecast period. The presence of a high geriatric and diabetic demographic, both of whom are susceptible to cataracts and other ocular illnesses, is driving the market in this region. Furthermore, the market is growing due to the increased awareness of improved treatment alternatives and an influx of people from wealthy countries seeking healthcare coverage. Additionally, an increase in the use of superior intraocular lenses such as accommodating intraocular lenses and multifocal intraocular lenses, as well as excessive government initiatives, are driving the market forward in this region.

Intraocular Lens (IOL) Market Share and Competitor Analysis

Physiol, Ophtec BV, SAV IOL, Oculentis GmbH, Staar Surgical Company, Bausch & Lomb, Carl Zeiss Meditec, Hoya Corporation, Alcon, Johnson & Johnson, Rayner Intraocular Lenses, EyeKon Medical Inc., Lenstec Inc., HumanOptics AG, Nidek Co., Ltd., and others are the key players in the intraocular lens (IOL) market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1   Intraocular Lens Industry Overview, 2022-2027

2.1.1    Industry Overview

2.1.2    Type Overview

2.1.3    Material Overview

2.1.4    End-User Overview

2.1.5    Regional Overview

Chapter 3 Intraocular Lens Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2022-2027

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1   The rising prevalence of more cataract’s problems in the aging population

3.3.1.2    increasing eye-related diseases and expenditure in health

3.3.2    Industry Challenges

3.3.2.1    The rise in the cost of these surgeries and materials.

3.4    Prospective Growth Scenario

3.4.1    Type Growth Scenario

3.4.2    Material Growth Scenario

3.4.3    End-User Growth Scenario

3.4.4    Regional Growth Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Regional Overview

3.11    Market Share Analysis, 2022

3.11.1    Company Positioning Overview, 2022

Chapter 4   Intraocular Lens Market, By Type

4.1    Type Outlook

4.2    Monofocal Intraocular Lens

4.2.1    Market Size, By Region, 2022-2027(USD Billion)

4.3    Accommodative Intraocular Lens

4.3.1    Market Size, By Region, 2022-2027(USD Billion)

4.4    Multifocal Intraocular Lens

4.4.1    Market Size, By Region, 2022-2027(USD Billion)

4.5    Toric Intraocular Lens

4.5.1    Market Size, By Region, 2022-2027(USD Billion)

Chapter 5    Intraocular Lens Market, By Material

5.1    Material Outlook

5.2    Hydrophobic Acrylic

5.2.1    Market Size, By Region, 2022-2027(USD Billion)

5.3    Hydrophilic Acrylic

5.3.1    Market Size, By Region, 2022-2027(USD Billion)

5.4    Polymethyl meth- acrylate (PMMA)

5.4.1    Market Size, By Region, 2022-2027(USD Billion)

5.5    Others

5.5.1    Market Size, By Region, 2022-2027(USD Billion)

Chapter 6    Intraocular Lens Market, By End - Users

6.1    End-Users Outlook

6.2     Hospitals

6.1.1    Market Size, By Region, 2022-2027(USD Billion)

6.2    Ambulatory Surgical Centres

6.2.1    Market Size, By Region, 2022-2027(USD Billion)

6.3     Ophthalmology Clinics

           6.3.1     Market Size, By Region, 2022-2027(USD Billion)

6.4      Eye Research Institutes

  6.4.1      Market Size, By Region, 2022-2027(USD Billion)

Chapter 7    Intraocular Lens Market, By Region

7.1    Regional outlook

7.2    North America

7.2.1    Market Size, By Country 2022-2027(USD Billion)

7.2.2    Market Size, By Type, 2022-2027(USD Billion)

7.2.3    Market Size, By Material, 2022-2027(USD Billion)

7.2.4    Market Size, By End-User, 2022-2027(USD Billion)

7.2.5    Market Size, By Regional, 2022-2027(USD Billion)

7.2.6    U.S.

7.2.6.1    Market Size, By Type, 2022-2027(USD Billion)

7.2.4.2    Market Size, By Material, 2022-2027(USD Billion)

7.2.4.3    Market Size, By End-User, 2022-2027(USD Billion)

Market Size, By Regional, 2022-2027(USD Billion)

7.2.7    Canada

7.2.7.1    Market Size, By Type, 2022-2027(USD Billion)

7.2.7.2    Market Size, By Material, 2022-2027(USD Billion)

7.2.7.3    Market Size, By End-User, 2022-2027(USD Billion)

7.2.7.4    Market Size, By Regional, 2022-2027(USD Billion)

7.3    Europe

7.3.1    Market Size, By Country 2022-2027(USD Billion)

7.3.2    Market Size, By Type, 2022-2027(USD Billion)

7.3.3    Market Size, By Material, 2022-2027(USD Billion)

7.3.4    Market Size, By End-User, 2022-2027(USD Billion)

7.3.5    Market Size, By Regional, 2022-2027(USD Billion)

7.3.6    Germany

7.3.6.1    Market Size, By Type, 2022-2027(USD Billion)

7.3.6.2    Market Size, By Material, 2022-2027(USD Billion)

7.3.6.3    Market Size, By End-User, 2022-2027(USD Billion)

7.3.6.4    Market Size, By Regional, 2022-2027(USD Billion)

7.3.7    UK

7.3.7.1    Market Size, By Type, 2022-2027(USD Billion)

7.3.7.2    Market Size, By Material, 2022-2027(USD Billion)

7.3.7.3    Market Size, By End-User, 2022-2027(USD Billion)

7.3.7.4    Market Size, By Regional, 2022-2027(USD Billion)

7.3.8    France

7.3.8.1    Market Size, By Type, 2022-2027(USD Billion)

7.3.8.2    Market Size, By Material, 2022-2027(USD Billion)

7.3.8.3    Market Size, By End-User, 2022-2027(USD Billion)

7.3.8.4    Market Size, By Regional, 2022-2027(USD Billion)

7.3.9    Italy

7.3.9.1    Market Size, By Type, 2022-2027(USD Billion)

7.3.9.2    Market Size, By Material, 2022-2027(USD Billion)

7.3.9.3    Market Size, By End-User, 2022-2027(USD Billion)

7.3.9.4    Market Size, By Regional, 2022-2027(USD Billion)

7.3.10    Spain

7.3.10.1    Market Size, By Type, 2022-2027(USD Billion)

7.3.10.2    Market Size, By Material, 2022-2027(USD Billion)

7.3.10.3    Market Size, By End-User, 2022-2027(USD Billion)

7.3.10.4    Market Size, By Regional, 2022-2027(USD Billion)

7.3.11    Russia

7.3.11.1    Market Size, By Type, 2022-2027(USD Billion)

7.3.11.2    Market Size, By Material, 2022-2027(USD Billion)

7.3.11.3    Market Size, By End-User, 2022-2027(USD Billion)

7.3.11.4    Market Size, By Regional, 2022-2027(USD Billion)

7.4    Asia Pacific

7.4.1    Market Size, By Country 2022-2027(USD Billion)

7.4.2    Market Size, By Type, 2022-2027(USD Billion)

7.4.3    Market Size, By Material, 2022-2027(USD Billion)

7.4.4    Market Size, By End-User, 2022-2027(USD Billion)

7.4.5   Market Size, By Regional, 2022-2027(USD Billion)

7.4.6    China

7.4.6.1    Market Size, By Type, 2022-2027(USD Billion)

7.4.6.2    Market Size, By Material, 2022-2027(USD Billion)

7.4.6.3    Market Size, By End-User, 2022-2027(USD Billion)

7.4.6.4    Market Size, By Regional, 2022-2027(USD Billion)

7.4.7    India

7.4.7.1    Market Size, By Type, 2022-2027(USD Billion)

7.4.7.2    Market Size, By Material, 2022-2027(USD Billion)

7.4.7.3    Market Size, By End-User, 2022-2027(USD Billion)

7.4.7.4    Market Size, By Regional, 2022-2027(USD Billion)

7.4.8    Japan

7.4.8.1    Market Size, By Type, 2022-2027(USD Billion)

7.4.8.2    Market Size, By Material, 2022-2027(USD Billion)

7.4.8.3    Market Size, By End-User, 2022-2027(USD Billion)

7.4.8.4    Market Size, By Regional, 2022-2027(USD Billion)

7.4.9    Australia

7.4.9.1    Market Size, By Type, 2022-2027(USD Billion)

7.4.9.2    Market size, By Material, 2022-2027(USD Billion)

7.4.9.3    Market Size, By End-User, 2022-2027(USD Billion)

7.4.9.4    Market Size, By Regional, 2022-2027(USD Billion)

7.4.10    South Korea

7.4.10.1    Market Size, By Type, 2022-2027(USD Billion)

7.4.10.2    Market Size, By Material, 2022-2027(USD Billion)

7.4.10.3    Market Size, By End-User, 2022-2027(USD Billion)

7.4.10.4    Market Size, By Regional, 2022-2027(USD Billion)

7.5    Latin America

7.5.1    Market Size, By Country 2022-2027(USD Billion)

7.5.2    Market Size, By Type, 2022-2027(USD Billion)

7.5.3    Market Size, By Material, 2022-2027(USD Billion)

7.5.4   Market Size, By End-User, 2022-2027(USD Billion)

7.5.5   Market Size, By Regional, 2022-2027(USD Billion)

7.5.6    Brazil

7.5.6.1    Market Size, By Type, 2022-2027(USD Billion)

7.5.6.2    Market Size, By Material, 2022-2027(USD Billion)

7.5.6.3    Market Size, By End-User, 2022-2027(USD Billion)

7.5.6.4    Market Size, By Regional, 2022-2027(USD Billion)

7.5.7    Mexico

7.5.7.1    Market Size, By Type, 2022-2027(USD Billion)

7.5.7.2    Market Size, By Material, 2022-2027(USD Billion)

7.5.7.3    Market Size, By End-User, 2022-2027(USD Billion)

7.5.7.4    Market Size, By Regional, 2022-2027(USD Billion)

7.5.8    Argentina

7.5.8.1    Market Size, By Type, 2022-2027(USD Billion)

7.5.8.2    Market Size, By Material, 2022-2027(USD Billion)

7.5.8.3    Market Size, By End-User, 2022-2027(USD Billion)

7.5.8.4    Market Size, By Regional, 2022-2027(USD Billion)

7.6    MEA

7.6.1    Market Size, By Country 2022-2027(USD Billion)

7.6.2    Market Size, By Type, 2022-2027(USD Billion)

7.6.3    Market Size, By Material, 2022-2027(USD Billion)

7.6.4    Market Size, By End-User, 2022-2027(USD Billion)

7.6.5    Market Size, By Regional, 2022-2027(USD Billion)

7.6.6    Saudi Arabia

7.6.6.1    Market Size, By Type, 2022-2027(USD Billion)

7.6.6.2    Market Size, By Material, 2022-2027(USD Billion)

7.6.6.3   Market Size, By End-User, 2022-2027(USD Billion)

7.6.6.4   Market Size, By Regional, 2022-2027(USD Billion)

7.6.7    UAE

7.6.7.1    Market Size, By Type, 2022-2027(USD Billion)

7.6.7.2    Market Size, By Material, 2022-2027(USD Billion)

7.6.7.3    Market Size, By End-User, 2022-2027(USD Billion)

7.6.7.4    Market Size, By Regional, 2022-2027(USD Billion)

7.6.8    South Africa

7.6.8.1    Market Size, By Type, 2022-2027(USD Billion)

7.6.8.2    Market Size, By Material, 2022-2027(USD Billion)

7.6.8.3    Market Size, By End-User, 2022-2027(USD Billion)

7.6.8.4    Market Size, By Regional, 2022-2027(USD Billion)

Chapter 8 Company Landscape

8.1    Competitive Analysis, 2022

8.2    Physiol

8.2.1    Company Overview

8.2.2    Financial Analysis

8.2.3    Strategic Positioning

8.2.4    Info Graphic Analysis

8.3    Ophtec BV

8.3.1    Company Overview

8.3.2    Financial Analysis

8.3.3    Strategic Positioning

8.3.4    Info Graphic Analysis

8.4    SAV IOL

8.4.1    Company Overview

8.4.2    Financial Analysis

8.4.3    Strategic Positioning

8.4.4    Info Graphic Analysis

8.5    Oculentis GmbH

8.5.1    Company Overview

8.5.2    Financial Analysis

8.5.3    Strategic Positioning

8.5.4    Info Graphic Analysis

8.6    Staar Surgical Company

8.6.1    Company Overview

8.6.2    Financial Analysis

8.6.3    Strategic Positioning

8.6.4    Info Graphic Analysis

8.7    Bausch & Lomb

8.7.1    Company Overview

8.7.2    Financial Analysis

8.7.3    Strategic Positioning

8.7.4    Info Graphic Analysis

8.8    Carl Zeiss Meditec

8.8.1    Company Overview

8.8.2    Financial Analysis

8.8.3    Strategic Positioning

8.8.4    Info Graphic Analysis

8.9    Hoya Corporation

8.9.1    Company Overview

8.9.2    Financial Analysis

8.9.3    Strategic Positioning

8.9.4    Info Graphic Analysis

8.10    Alcon

8.10.1    Company Overview

8.10.2    Financial Analysis

8.10.3    Strategic Positioning

8.10.4    Info Graphic Analysis

8.11    Johnson & Johnson

8.11.1    Company Overview

8.11.2    Financial Analysis

8.11.3    Strategic Positioning

8.11.4    Info Graphic Analysis

8.12     Rayner Intraocular Lenses

8.12.1    Company Overview

8.12.2    Financial Analysis

8.12.3    Strategic Positioning

8.12.4    Info Graphic Analysis

8.13     EyeKon Medical Inc.

8.13.1    Company Overview

8.13.2    Financial Analysis

8.13.3    Strategic Positioning

8.13.4    Info Graphic Analysis

8.14       Lenstec Inc.

8.14.1    Company Overview

8.14.2    Financial Analysis

8.14.3    Strategic Positioning

8.14.4    Info Graphic Analysis

8.15     HumanOptics AG

8.15.1    Company Overview

8.15.2    Financial Analysis

8.15.3    Strategic Positioning

8.15.4    Info Graphic Analysis

8.16    NIDEK CO., LTD.

8.16.1    Company Overview

8.16.2    Financial Analysis

8.16.3    Strategic Positioning

8.16.4    Info Graphic Analysis

8.17     Others

8.17.1    Company Overview

8.17.2    Financial Analysis

8.17.3    Strategic Positioning

8.17.4    Info Graphic Analysis

The Global Intraocular Lens (IOL) Market has been studied from the year 2019 till 2027. However, the CAGR provided in the report is from the year 2022 to 2027. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Intraocular Lens (IOL) Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global intraocular lens market is projected to grow from USD 4.2 billion in 2022 to USD 5.8 billion by 2027 at a CAGR value of 4.4% from 2022 to 2027.
Physiol, Ophtec BV, SAV IOL, Oculentis GmbH, Staar Surgical Company, Bausch & Lomb, Carl Zeiss Meditec, Hoya Corporation, Alcon, Johnson & Johnson, Rayner Intraocular Lenses, EyeKon Medical Inc., Lenstec Inc., HumanOptics AG, Nidek Co., Ltd., and others are the key players in the intraocular lens (IOL) market.
The North American region is estimated to hold the highest share in the intraocular lens market.
The COVID-19 had a significant impact on the market because many patients were scared to seek medical treatment and cataract surgery in hospitals and other institutions as a result of the virus. Due to the global shutdown, only emergency operations and minor procedures were carried out and despite a decline in intraocular lens sales during the pandemic, the market is rebounding and is predicted to grow steadily during the forecast period.
The explosive development of the rising geriatric and affiliated eye disorders, rising prevalence of eye diseases and diabetes in the overall population around the world, technological developments in intraocular lenses, and enhancing policy initiatives to regulate and cure cataract-related blindness are all factors driving this market forward.

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