Sales Of Intraocular Lens Are Slated To Reach US$ 6.7 Billion By 2032

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.

The world has witnessed a prominent increase in the incidence of cataracts and this has led to an increased number of cataract surgeries being performed across the world. This is expected to primarily drive the intraocular lenses market potential across the forecast period. Increasing prevalence of diabetes in the general population is one of the major factors that is causing cataract problems and is expected to positively impact sales of intraocular lenses over the years to come. The growing geriatric population is also one of the more important prospects that favor intraocular lenses market growth since aging people are more prone to vision impairment and cataracts.

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How Will The Market Evolve in the Asia Pacific Region?

“Rising Geriatric Population and High Incidence of Diabetes & Cataract in the Region”

The intraocular lenses market in the Asia Pacific region is anticipated to be driven on the back of growing aging population and rising incidence of diabetes. Supportive government initiatives to increase awareness of ophthalmic conditions and the rising number of cataract removal surgeries being performed in the region are also anticipated to favor the overall intraocular lenses market growth going forward.

Emerging economies of China, Japan, and India are anticipated to lead the growth in this region owing to the increasing number of cataract surgeries being performed in these countries. Multifocal cataract lenses, preloaded intraocular lenses, and other intraocular lenses for cataract surgery are anticipated to witness high demand in the Asia Pacific region through 2032.

The adoption of advanced ophthalmic procedures and products is also expected to be a crucial trend that could shape the overall intraocular lenses market potential in this region.

All the other major and minor regions have been profiled in this latest intraocular lenses market analysis. This latest intraocular lenses market report has been prepared by skilled analysts at Fact.MR, a market research and competitive intelligence provider, to provide all the essential data required to make informed business decisions.

What Makes the United States an Appealing Market for Suppliers of Intraocular Lenses?

“Rising Number of Product Launches & Favorable Reimbursement Scene”

The U.S. intraocular lenses market is anticipated to be a highly rewarding one for intraocular lens manufacturers owing to the presence of developed healthcare infrastructure, the rising number of eye surgeries being performed, and favorable reimbursement policies. The presence of key players in the intraocular lenses market in the country is also resulting in a high number of product launches, which is expected to favor overall market potential through 2032.

Increasing investments in research and development of novel products and supportive government policies are other factors that are expected to positively influence demand for intraocular lenses in the United States going forward.

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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.

Key Segments in Intraocular Lens Industry Research

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

By Region :

• North America
• Latin America
• Europe
• APAC
• MEA

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