Market.us announces the publication of its most recently generated research report titled, “Intraocular Lens by Product Type (Monofocal IOL, Multifocal IOL, Toric IOL, Accommodative IOL, Others), by End User (Hospitals, ASCs, Eye Clinics, Others), By Flexibility Type (Non-Foldable Lenses, Foldable Lenses) and by Region – Global Forecast to 2031.”, Which offers a holistic view of the global intraocular lens market through systematic segmentation that covers every aspect of the target market.

The global intraocular lens market is projected to be US$ 2,812.8 Mn in 2018 to reach US$ 4,871.6 Mn by 2028 at a CAGR of 5.6%.

An intraocular lens is an artificial lens made up of synthetic materials like silicone, hydrophilic or hydrophobic acrylate, PMMA, or any other material, and is implanted into the eyes during cataract surgery to help the patient regain the normal vision.  Historically, the first intraocular lenses to be discovered were rigid lenses made up of Polymethyl methacrylate (PMMA). These lenses are non-foldable and require a comparatively larger incision to be implanted into a patient’s eye. But, with the advent of new technology intraocular lenses made up of flexible materials like silicone or acrylate are now available which have several advantages over the conventional PMMA intraocular lenses. The global market for intraocular lenses is expected to grow at a steady pace in the forecast period owing to the increasing prevalence of cataracts and the betterment of healthcare infrastructure.

The dramatically rising geriatric population globally is expected to be the primary factor driving the growth of the global intraocular lens market. In addition to this, increasing healthcare expenditure in emerging nations is expected to aid market growth for intraocular lenses.

Furthermore, factor such as technological advancements in intraocular lenses, which helps in cataract surgery with a tiny incision is other factors expected to fuel the growth of the target market.

Global Intraocular Lens Market Revenue (US$ Mn), 2018–2028 

However, the high cost of the foldable intraocular lens is expected to challenge the growth of the intraocular lens market. Also, the lack of awareness about minimally invasive surgery of cataracts in some emerging nations is also expected to hinder market growth. Nonetheless, favorable market conditions for minimally invasive surgeries provide lucrative opportunities for the global intraocular lens market to grow.

The global intraocular lens market is segmented on the basis of product type, end-user, flexibility type and region. On the basis of product type, the market is segmented into monofocal IOL, multifocal IOL, toric IOL, accommodative IOL and others. Monofocal IOL segment accounts for the majority share in the global intraocular lens market, while the Toric IOL is expected to register the highest growth rate over the forecast period. On the basis of end-user, the market is segmented into hospitals, ASCs, eye clinics and others. Hospitals account for a majority share in the global intraocular lens market. On the basis of flexibility type market is segmented into non-foldable lenses and foldable lenses, in which foldable lenses account for the majority of market share.

Global Intraocular Lens Market by Product Type, 2018

On the basis of region, the market is segmented into USA, Europe, China, India, Japan and Southeast Asia. The USA accounts for the majority share in the global intraocular lens market, followed by Europe, owing to the increasing prevalence of cataract and betterment of healthcare infrastructure in the region. Economies such as India are expected to register the highest growth rate over the forecast period. Countries and regions such as Japan, Southeast Asia and Europe are expected to register stable growth over the forecast period.

The research report on the global intraocular lens market includes profiles of some of major companies such as Novartis AG, HOYA CORPORATION, Bausch & Lomb Incorporated, Carl Zeiss AG, Ophtec BV., Rayner Surgical Group Limited, STAAR Surgical Company, Lenstec, Inc., HumanOptics AG, Bio-Tech Vision Care, Omni Lens Pvt Ltd, SAV-IOL SA, PhysIOL s.a, Aurolab, Eagle Optics and SIFI S.p.A.

Key Market Segments:

Type

• Monofocal Iol
• Multifocal Iol
• Toric Iol
• Accommodative Iol

Application

• Hospitals
• Ascs
• Eye Clinics And Others

Key Market Players included in the report:

• Novartis AG
• HOYA CORPORATION
• Bausch & Lomb Incorporated
• Carl Zeiss AG
• Ophtec BV.
• Rayner Surgical Group Limited
• STAAR Surgical Company
• Lenstec Inc.
• HumanOptics AG
• Bio-Tech Vision Care
• Omni Lens Pvt Ltd
• SAV-IOL SA
• PhysIOL s.a
• Aurolab
• Eagle Optics and SIFI S.p.A

For the Intraocular Lens Market research study, the following years have been considered to estimate the market size: