Global Intraocular Lens Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Intraocular Lens Market 2021 (Includes Business Impact of COVID-19)
Global Intraocular Lens Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global intraocular lens market report has been segmented on the basis of type, material, end user and region.
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The global Intraocular Lens market size was valued at USD $4.27 billion in 2020 and is projected to reach $7.40 billion by 2030, and is anticipated to expand at a CAGR of 5.65% over the forecast period from 2020 to 2030.


Global Intraocular Lens Market: Overview


An intraocular lens is known as the artificial lens as it is made of different material such as silicone, plastic, acrylic, and Collamer. In addition, during cataract surgery, myopia, or any other eye treatment, the intraocular lens is fixed in the eye for correcting the patients vision. Currently, the type of monofocal intraocular lens is the best choice with less budget and also implant focused for one fixed distance.


Global Intraocular Lens Market: Dynamics


The demand of intraocular lens is growing because of the increasing eye related cases including diabetic eye disease, obesity, age-related macular degeneration, glaucoma, cataract is expected to accelerate growth of the global market in the next few years. The rising number of vision correction processes, innovations in intraocular lens products, and also increase the prevalence of cataract are some factors which can help to grow the target market. In addition, increasing adoption of the premium intraocular lens and multifocal intraocular lens, rising geriatric population, a growing number of vision improvement procedures, innovations in new product, a growing number of the diabetic population are some other factors that are boosting demand for an intraocular lens. Moreover, increasing government initiatives and technology advancement including femtosecond lasers, and micro-incision cataract surgery is some factor supporting growth of the target market.

However, high cost associated with the surgical procedure and also refractive errors are the major factors limiting the growth for global intraocular lens market.


Global Intraocular Lens Market: Segment Analysis


Among the type segments, the traditional/monofocal IOLs segment is expected to account for the largest revenue contribution in the global market. This can be attributable to increasing adoption of monofocal IOLs as they provide easy insertion and significantly less or zero aberration.

Among the material segments, the foldable IOLs is expected to register major revenue contribution and also projected to dominate growth of the target market over the forecast period. The foldable IOLs are required smaller surgeries for IOL insertion and reduce the danger of post-operative flaws in the eye.


Global Intraocular Lens Market: Regional Analysis


The market in North America is projected to register the highest revenue growth of global intraocular lens market over the forecast period. The rising incidence of age-related eye diseases, an increasing number of cataract surgical, increasing adoption of advanced technology techniques and products and growing demand by patients for premium lenses in the countries in the region. The Asia Pacific market is projected to register fastest CAGR over the forecast period, this is primarily attributed to technological advances in intraocular lenses and growing refractive surgery particularly in countries such as India and China. In addition, demand for toric intraocular and multifocal lenses is increasing owing to increasing government initiatives towards the cataract treatment and preventable blindness are furthering supporting growth of the market in this region.


Below are the active patents related to Intraocular Lens Market.


Patent Number: US20040106992A1

Multi-zonal monofocal intraocular lens for correcting optical aberrations

Abstract

A multi-zonal monofocal opthalmic lens comprises an inner zone, an intermediate zone, and an outer zone. The inner zone has a first optical power. The intermediate zone surrounds the inner zone and has a second optical power that is different from the first power by a magnitude that is less than at least about 0.75 Diopter. The outer zone surrounds the intermediate zone and has a third optical power different from the second optical power. In certain embodiments, the third optical power is equal to the first optical power.

Application filed by Date:2003-11-10

Application Granted Date:2008-06-03

Current Assignee: Johnson and Johnson Surgical Vision Inc

Patent Number: US9220590B2

Accommodative intraocular lens and method of improving accommodation

Abstract

The present invention provides an accommodative intraocular lens (AIOL) system and method for improving accommodation with an intraocular lens. The method involves insertion into the capsular bag of a flexible optic holder comprising a plurality of haptics configured to allow the capsular bag to be sectioned at regular intervals following fusion of the capsular bag. The haptics of the optic holder are designed to allow maximum fusion of the anterior and posterior leaves of the capsular bag following placement of the optic holder in the capsular bag. Following introduction of the optic holder into the capsular bag, the natural or assisted process of fibrosis/fusion of the capsular bag occurs, thereby sealing and securely capturing the haptics within the capsular bag. Subsequently, several cuts are made in the fibrotic capsular bag at intervals between haptics, allowing the haptics to move independently, thereby effectively restoring some of the flexibility that the capsule possessed prior to fibrosis and restoring some of the zonular force on the capsule.

Application filed by Date: 2011-06-10

Application Granted Date: 2015-12-29

Current Assignee: Carl Zeiss Meditec AG

Global Intraocular Lens Market Segmentation:

Segmentation by Type:

  
Traditional/Monofocal IOLs
  
Aspheric Monofocal IOLs
  
Spheric Monofocal IOLs
  
Premium IOLs
  
Multifocal IOLs
  
Accommodating IOLs
  
Extended Depth of Focus (EDOF) IOLs
  
Phakic IOLs

Segmentation by Material:

  
Polymethylmethacrylate IOLs (PMMA IOLs)
  
Foldable IOLs
  
Hydrophobic Acrylic IOLs
  
Hydrophilic Acrylic IOLs
  
Other Foldable IOLs (acrylic, silicone, and hybrid IOLs)

Segmentation by End-user:

  
Hospitals and Clinics
  
Ambulatory Surgery Centers


Key Market Players included in the report:


  
Alcon Inc. (division of Novartis AG)
  
Bausch Health Companies Inc.
  
Calhoun Vision Center
  
Carl Zeiss Meditec AG
  
EyeKon Medical Inc.
  
HOYA Corporation
  
HumanOptics AG
  
Johnson & Johnson
  
Lenstec Inc.
  
Oculentis GmBH.
  
Rayner
  
STAAR Surgical
  
Valeant


Below are the key development related to Intraocular Lens Market in 2020 and 2021.


July 2021: Alcon Reinforces Strength of Industry-Leading Ophthalmology Portfolio with Largest Surgical Device Scientific Presence at ASCRS 2021. Robust data demonstrates extremely high level of patient satisfaction and increased spectacle independence for PanOptix® and Vivity™ PCIOLs – underpinning the strength of these market-leading technologies1-8.ARGOS® Biometer with Image Guidance delivers substantial time efficiencies for cataract surgery practices, surgeons and patients9.More than 60 abstracts highlighting the benefits of the Alcon innovation. Source

December 2020: RxSight secures $60M credit facility. Oxford Finance announced that it closed a $60 million senior secured term loan with intraocular lens maker RxSight. Aliso Viejo, Calif.-based RxSight develops what it touts as the world’s first and only FDA-approved adjustable intraocular lens that is customized after cataract surgery. RxSight’s lens is designed to deliver superior visual outcomes with its post-cataract surgery customization capabilities offering the ability to meet the patient’s personal desires and lifestyle requirements. Approximately 100 U.S. surgeons are using RxSight’s lens in their cataract patients. Source

October  2020: BVI® acquires Benz Research & Development, strengthening end to end IOL design, production and sales capabilities. Benz R&D is the leading technologically advanced independent supplier of performance materials and manufacturing technology to the IOL industry. BVIs vertical integration will accelerate manufacturing capacity and geographic sales expansion, and the IOL material capabilities of BVIs world leading PhysIOL® lens platform. BVI, the fastest-growing diversified company in ophthalmology, announced its recent completion of the acquisition of Benz Research & Development (Benz) and its customized contact lens subsidiary, SpecialEyes, both based in Sarasota, Florida. The Benz portfolio of innovative performance materials in both Intraocular Lens (IOL) and Contact Lens manufacturing complements BVIs leading portfolio of IOLs under the PhysIOL brand, including the worlds first trifocal lens FineVision. As one of only a few suppliers of raw materials for IOL production, Benz sets itself apart from the rest of the industry based on the quality and precision of its production. To date Benz material has been used in 50+ million implants worldwide. Source