The intraocular lens is an artificial lens made of plastic, silicone, acrylic or other material which is implanted inside the eye to change the natural eye lens during cataract procedures. The global intraocular lens market is anticipated to grow substantially at a 6.84% CAGR during 2021-2027 owing to the rising geriatric population and their eye disorders, rising ophthalmic issues, the increasing prominence of eye diseases and diabetes, technological development in intraocular lenses, and initiatives by the government to control and treat eye blindness caused due to cataract, thereby propelling the growth of the intraocular lens market globally.

The increased adoption of premium lenses due to its advantages like improved visual performance and decreased astigmatism supplements will further propel the growth of the global intraocular lens market. According to the Vision Council report, approximately 76.2% of adults in the US have undergone vision correction surgery in 2015 and around 22.1% of adults felt that they need vision correction, resulting in the growth of the market. However, the rising cost of IOLs and poor reimbursement coverage may hinder the growth of the intraocular lenses market.

The COVID-19 outbreak has had a negative impact on the global intraocular lens market as patients are avoiding elective surgeries like cataracts and reconstructive surgery. Owing to lockdown measures, the hospital visit for eye-related issues have reduced significantly and only emergency cases are being performed.

Request to get a free sample copy at https://www.vynzresearch.com/healthcare/intraocular-lens-market/request-sample

Based on type, the traditional/monofocal intraocular lens dominates the market owing to the low price of the traditional/monofocal intraocular lens as compared to premium lenses and favorable government reimbursement policies

North America dominates the intraocular lens market owing to technological development like custom cataract lenses and Extended Depth of Focus (EDoF) will fuel the growth in the region. In addition, rising cases of cataracts predicted an increase in the diabetic population will fuel the growth of the intraocular lens market.
According to the National Eye Institute in 2020, the number of cataract patients in the United States is projected to double from 24.4 million to about 50 million by 2050.

Johnson & Johnson received FDA approval for Tecnis Synergy and Tecnis Synergic Toric II intraocular lenses to treat cataract patients.
The prominent players in the intraocular lens industry include Valeant Pharmaceuticals International, Inc., Novartis AG, STAAR Surgical Company, Johnson & Johnson, Rayner Intraocular Lenses, OPHTEC BV, Carl Zeiss Meditec AG, SAV IOL, Hoya Corporation, Physiol, and Oculentis GmbH.

Source: VynZ Research