Press release
Global Intraocular Lens Market Outlook 2025-2034: Trends, Innovations, And Future Outlook
Intraocular Lens
What Is the Expected Intraocular Lens Market Size During the Forecast Period?
The market for intraocular lenses has seen substantial growth lately. The market size is projected to increase from $5.29 billion in 2024 to $5.78 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. Factors contributing to this growth during the historical period include evolving patient needs and satisfaction, an uptick in outpatient cataract surgeries, the advent of phacoemulsification, the ongoing improvement of surgical procedures, and the shift towards foldable materials.
Expectations are high for a swift expansion of the intraocular lens market in the upcoming years. Forecasts predict a growth to $8.72 billion by the year 2029, representing a compound annual growth rate (CAGR) of 10.8%. This anticipated growth within the forecast period is largely due to an increased focus on emerging markets, a rise in the aging population, growing rates of cataract surgery, increased demand for high-quality IOLs, and a shift toward outpatient procedures. The period is also expected to see significant trends including an increase in cataract surgeries, a move towards less invasive surgery methods, an increased demand for improved visual results, changes in regulations and approvals, and the evolution of surgical practices.
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What Are the High-Growth Segments in the Intraocular Lens Market?
The intraocular lens market covered in this report is segmented -
1) By Type: Monofocal Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular lens, Accommodating Intraocular Lens
2) By Material: Polymethylmethacrylate (PMMA), Silicone, Hydrophobic Acrylic
3) By End User: Hospitals, Ambulatory Surgery Centers, Ophthalmology Clinics, Eye Research Institutes
Subsegments:
1) By Monofocal Intraocular Lens: Standard Monofocal Lens, Aspheric Monofocal Lens
2) By Multifocal Intraocular Lens: Diffractive Multifocal Lens, Refractive Multifocal Lens
3) By Toric Intraocular Lens: Toric Monofocal Lens, Toric Multifocal Lens
4) By Accommodating Intraocular Lens: Dual-Optic Accommodating Lens, Single-Optic Accommodating Lens
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What Key Drivers Are Expected to Influence Future Intraocular Lens Market Growth?
The growing frequency of ocular conditions is propelling the intraocular lens industry's expansion. Eye conditions such as macular degeneration, glaucoma, and cataracts lead to issues with vision. An intraocular lens is a manufactured lens for the eye, created to replace the natural lens that is extracted during a cataract operation. As an example, data from the Association of British Dispensing Opticians in October 2022 indicated that over two million individuals in the UK risk losing their sight due to glaucoma. Furthermore, it was estimated that approximately 1,390,000 people suffer from ocular hypertension, with another 708,000 having glaucoma. The increasing occurrence of eye diseases is set to enhance the growth of the intraocular lens industry.
Which Companies Hold the Largest Share Across Different Intraocular Lens Market Segments?
Major companies operating in the intraocular lens market include Abbott Medical Optics Inc., Alcon Inc., Johnson & Johnson Vision Care Inc., Carl Zeiss Meditec AG, Nidek CO. Ltd, Staar Surgical Company, Hoya Corporation, Rayner Intraocular Lenses Limited, SIFI S.p.A, Ophtec, RxSight, Aurolab, Hanita Lenses, Oculentis, Lenstec, EyeKon Medical Inc., Atia Vision, Nayam Innovations, SAV-IOL SA, Biotech Healthcare Group, Physiol, LensGen Inc., Omega Ophthalmics, Ocumetics Technology Corporation, Calhoun Vision Inc., HOYA Surgical Optics, Bausch Health Companies Inc.
What Trends Are Driving Growth in The Intraocular Lens Market?
The emergence of technological progress in the field of intraocular lenses is becoming a prevalent trend in the intraocular lens market. Alcon, a world-renowned leader in eye care, represents a key example of this, having announced in January 2022, the launch of their presbyopia-correcting intraocular lens equipped with wavefront-shaping technology, named AcrySof IQ Vivity IOL (Vivity). This innovative lens has been introduced to Indian ophthalmologists, with patients undergoing cataract surgery set to benefit from it.
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What Are the Emerging Geographies for The Intraocular Lens Market Growth?
North America was the largest region in the intraocular lens market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intraocular lens market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Intraocular Lens Market?
2. What is the CAGR expected in the Intraocular Lens Market?
3. What Are the Key Innovations Transforming the Intraocular Lens Industry?
4. Which Region Is Leading the Intraocular Lens Market?
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