Intraocular Lens (IOL) Market Size is expected to reach $5411.3
In 2020, the global Intraocular Lens (IOL) market size was US$ 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.
An intraocular lens (IOL) is a lens implanted in the eye used to treat cataracts or myopia. The most common type of IOL is the pseudophakic IOL. These are implanted during cataract surgery, after the cloudy crystalline lens (otherwise known as a cataract) has been removed. The pseudophakic IOL replaces the original crystalline lens, and provides the light focusing function originally undertaken by the crystalline lens. The second type of IOL, more commonly known as a phakic intraocular lens (PIOL), is a lens which is placed over the existing natural lens, and is used in refractive surgery to change the eye’s optical power as a treatment for myopia, or nearsightedness. IOL usually consist of a small plastic lens with plastic side struts, called haptics, to hold the lens in place within the capsular bag inside the eye. IOL were conventionally made of an inflexible material (PMMA), although this has largely been superseded by the use of flexible materials. Most IOL fitted today are fixed monofocal lenses matched to distance vision. However, other types are available, such as multifocal IOL which provide the patient with multiple-focused vision at far and reading distance, and adaptive IOL which provide the patient with limited visual accommodation.
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The major players in global Intraocular Lens (IOL) market include ALCON, AMO(Abbott), Bausch + Lomb, etc. The top 3 players occupy about 65% shares of the global market. North America and Europe are main markets, they occupy about 80% of the global market. Foldable Intraocular Lens is the main type, with a share about 95%. Public hospitals and Private hospitals are the main applications.
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Intraocular Lens (IOL) Market by Type
o Non-foldable lenses
o Foldable Intraocular Lens
Foldable intraocular lens has the highest percentage of sales by type, with more than 94% in 2019.
Intraocular Lens (IOL) Market by Application
o Public hospitals
o Private hospitals
According to the application, the consumption ratio of private hospitals is the highest, reaching 67.28% in 2019.
Major Players in the Intraocular Lens (IOL) Market
o Bausch + Lomb
o CARL Zeiss
o Biotech Visioncare
o Omni Lens Pvt Ltd
o Eagle Optics
o SIFI Medtech
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