The Intraocular Lens Market to Reach Revenue of $7.82 Billion by 2028

According to Arizton's latest research report, the intraocular lens market will grow at a CAGR of 7.25% from 2022 to 2028.

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The intraocular lens (IOL) market has seen advancements in both material and structural design. Refraction, diffraction, or the combination of two surface structures in the design of the optical structure allow for multiple motivations and produce sharp images at various distances. The purpose of EDOF, toric, and aspheric IOLs is to enhance vision. In terms of non-optical effects, square-edge IOLs are efficient at limiting cell proliferation and minimising postoperative side effects.

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In 2022, revenue from the premium IOL segment was estimated to be $1.5 billion, accounting for 29.56% of the global intraocular lens market, due to high lens pricing and increased procedures compared with 2020, according to Arizton. In addition, the global premium IOL market is projected to grow significantly faster as global cataract procedure volumes return to pre-COVID-19 levels. The global market for premium IOLs is expected to grow at a significant CAGR compared with the CAGR growth of the global traditional IOL market, according to Arizton. The adoption of advanced cataract lasers and the increase in cataract procedures will increase the demand for IOLs, driving the global intraocular lens market growth in the upcoming years.

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Vendors, especially global players, increasingly pursue inorganic growth strategies to expand their presence, enhance their product portfolio, and improve their market expertise. Such inorganic initiatives will complement vendors' organic growth strategies, gaining traction among end-users. Most acquisitions provide significant opportunities for both parties in terms of advances in the product portfolio, market expansion, penetration in existing and newer markets, and market share.

MARKET SEGMENTATION
Product
Traditional/Monofocal IOL
Premium IOL
Phakic IOL

Material
Hydrophobic Acrylic
Hydrophilic Acrylic
Silicone
PMMA

End-user
Standalone Eye Care Centers & ASCs
Hospitals
Eye Research Institutes

Geography
North America
The US
Canada

Europe
The UK
Germany
France
Italy
Spain

APAC
China
Japan
India
South Korea
Australia

Latin America
Brazil
Mexico
Argentina

Middle East & Africa
South Africa
Saudi Arabia
Turkey

Know more about the market: https://www.arizton.com/market-reports/intraocular-lens-market

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This release was published on openPR.