The intraocular lens (IOL) market is valued at 3.34 Billion in 2016 and is expected to grow at a CAGR of 5.4% during the forecast period (2017 to 2022), to reach to USD 4.56 Billion by 2022. Base year considered for the report is 2016. Monofocal IOLs segment accounted for largest share of market in 2017, owing to benefits offered by aspheric monofocal IOLs, such as, ease of insertion for ophthalmic surgeons.
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The growth of the intraocular lens market during the forecast period is mainly driven by the rising prevalence of eye diseases (cataract and refractive errors) associated with rising geriatric population. Report analyzes intraocular lens market by type, material, end user, and region.
By type, market is segmented into traditional/monofocal IOLs, premium IOLs, and phakic IOLs.
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- Intraocular lenses manufactures
- Intraocular lenses suppliers and distributors
- Healthcare service providers (including hospitals, eye clinics, and public and private eye care centers)
- Government associations
- Health insurance provider companies
- Market research and consulting firms
- Venture capitalists and investors
The intraocular lens marketis segmented into foldable IOLs and IOLs. The foldable IOLs segment accounted for the largest share and is expected to grow at the highest CAGR during the forecast period.
The growth of this segment is mainly attributed to their advantages such as suitability for manufacturing three-piece IOLs and IOL haptics, high biocompatibility, high light transmissibility, good center placement, resistance to tilting inside the eye, and UV-absorbing property.
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Geographically, global intraocular lens market is segmented into North America, Europe, Asia Pacific, and Rest of World (including Latin America and the Middle East and Africa). North America holds the largest share of this market, and this is primarily attributed to the region’s well-established healthcare industry, the increasing geriatric population with rising prevalence for blindness associated with cataract, increasing disposable income, and rising healthcare expenditure.
1 Intraocular Lens Market: Overview
2 Intraocular Lens Market in APAC, By Type & Country
3 Intraocular Lens Market: Regional Mix
4 Intraocular Lens Market: Geographical Snapshot
5 Intraocular Lens Market: Developed vs Developing Countries
Report analyzes intraocular lens market and aims at estimating the market size and future growth potential of this market based on various segments such as type, material, end user, and region. The report also includes a volume data analysis for various types of IOLs across the globe and a competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
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Key Objectives of the study
- To define, describe, and forecast the intraocular lens market by type, material, end user, and region
- To provide detailed information regarding major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
- To analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market players
- To forecast the size of the intraocular lenses market with respect to the five key regions—North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players in the global intraocular lens market and comprehensively analyze their core competencies2
- To track and analyze competitive developments such as agreements and partnerships; mergers and acquisitions; and product developments and launches of key players in the global intraocular lens market
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