According to the latest report by IMARC Group, titled “Intraocular Lens Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global intraocular lens market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
An intraocular lens (IOL) refers to a medical implant used to replace the focusing power of a natural lens removed during cataract surgery. It is also utilized in refractive lens exchange during vision correction surgery. An intraocular lens is usually made using silicone, acrylic, numerous plastic compositions, etc., and coated with a unique material to protect the eyes from harmful ultraviolet (UV) rays. Presently, a wide variety of premium products are available with different focusing powers based on the axial length of the eyes and curves of the cornea.
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Intraocular Lens Market Trends:
With age, proteins in the eyes go through changes, turning parts of the lens cloudy, thereby increasing the risk of developing cataracts. This factor, coupled with the escalating numbers of the geriatric population across the globe, is primarily driving the intraocular lens market. Moreover, the rising concerns among parents regarding their children’s health, as pediatric cataract cases result in blindness, are further bolstering the product demand. Additionally, the growing number of government bodies and non-governmental organizations (NGOs) that are supporting free eye examinations and surgery while providing health reimbursements is also augmenting the global market. Apart from this, several leading market players are introducing trifocal lenses to eliminate the need for spectacles, which is expected to propel the intraocular lens market over the forecasted period.
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