Intraocular Lens Industry Is Expanding At A CAGR Of 5% By 2032 | Fact.MR

(MENAFN- Ameliorate Digital Consultancy)

The global intraocular lens market is expected to increase from a valuation of US$ 4.1 billion in 2022 to US$ 6.7 billion by the end of 2032 and expanding at a CAGR of 5% over the next five years,

Monofocal intraocular lenses are anticipated to be highly recommended by ophthalmologists and are expected to witness high demand owing to their comparatively lower costs than premium intraocular lenses. Monofocal intraocular lenses accounted for more than 50% market share in 2021 and are slated to maintain a similar stance through 2032.

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Competitive Landscape

Companies in the intraocular lens market are expected to focus on acquisitions, mergers, collaborations, and partnerships that help them strengthen their global market presence.

  • In January 2022, Alcon, a leading eye care brand announced the completion of its acquisition of Ivantis, known for its novel Hydrus® Microstent designed to lower eye pressure for open-angle glaucoma patients. Alcon planned to bring Ivantis's novel minimally invasive glaucoma surgery (MIGS) device to the international markets and gain a competitive edge.

Key manufacturers of intraocular lenses are also focusing on getting approval for their new products from regulatory authorities to commercialize them and propel sales potential.

  • In July 2022, Lenstec Inc., a leading designer and manufacturer of lenses, announced that its Lenstec SBL-3 IOL has been approved by the U.S. FDA. It is a next-gen asymmetric multifocal refractive intraocular lens with a patented design that provides improved contrast sensitivity and minimizes glare and halo that are associated with traditional intraocular lenses.

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Key Companies Profiled:

  • Abbott Medical Optics
  • Carl Zeiss Meditec AG
  • EyeKon Medical Inc.
  • Bausch & Lomb Inc.
  • Alcon (Novartis AG)
  • Hoya Surgical Optics
  • Lenstec Inc.
  • PhysIOL
  • Staar Surgical Company
  • Calhoun Vision Inc.
  • Oculentis GmbH

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Key Segments:

  • By Type :
    • Monofocal Intraocular Lens
    • Premium Intraocular Lens
      • Multifocal Intraocular Lens
      • Toric Intraocular Lens
      • Accommodative Intraocular Lens
  • By Material :
    • Hydrophobic Acrylic
    • Hydrophilic Acrylic
    • Polymethylmethacrylate (PMMA)
    • Silicone
  • By End User :
    • Hospitals
    • Ophthalmic Clinics
    • Ambulatory Surgical Centers
    • Eye Research Institutes

Questionnaire answered in the report include:

  • How the industry has grown?
  • What is the present and future outlook on the basis of region?
  • What are the challenges and opportunities?
  • Why the consumption in region?
  • In which year segment is expected to overtake segment?

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