Intraocular Lens Market

The intraocular lens market is estimated to be worth USD 4.2 billion in 2023 and is projected to reach USD 6.0 billion by 2029, at a CAGR of 6.3% during the forecast period. High rise of the global old age population, increase in the prevalence of cataracts, growing awareness of minimally invasive surgeries, and rise in the technological advancement in IOLs  are the major trends in intraocular lens market.

The major players in the intraocular lens market with a significant global presence are Alcon Inc. (US), Johnson & Johnson Vision Care, Inc. (US), Carl Zeiss Meditec AG (Germany), Hoya Corporation (Japan), Bausch & Lomb (US), STAAR Surgical (US). The market players have adopted various strategies such as development of advanced products, partnerships, contracts, expansions, and acquisitions to strengthen their position in the intraocular lens market.

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Alcon Inc.

Alcon is a global leader in eye care, manufacturing, distributing, and selling a complete line of eye care products under the two main divisions of Surgical and Vision Care. The sale of ophthalmic products such as intraocular lenses (IOLs) for cataracts, vitreoretinal, and refractive laser surgery, are the focus of the surgical division. Alcon is the market leader globally in the surgical eye care industry. The company operates in 60 countries, employs over 25,000 associates from more than 100 nationalities, and serves patients and customers in over 140 countries. Alcon has a leading position in the intraocular lens market and has a global footprint in more than 100 countries which allow it to benefit from economies of scale, maximize the potential of the commercialized products and pipeline. Also, it will permit the company to grow effectively in the market and expand into new product categories. The company has an established track record of bringing novel products to the market that have enhanced patients' quality of life. For instance, Alcon developed AcrySof IQ Vivity, the first and only non-diffractive extended depth of focus intraocular lens. Alcon Inc. has a long history of innovation in IOLs. The company was the pioneer in developing IOLs which is now the standard of care for cataract surgery and the company is also a leader in the development of presbyopia-correcting IOLs.

Johnson & Johnson Vision Care, Inc.

Johnson & Johnson Vision (JJV) is a subsidiary of Johnson & Johnson and is composed of three business segments that are Consumer Health, Pharmaceutical and MedTech. The MedTech (previously referred to as Medical Devices) segment includes a broad portfolio of products used in the interventional Solutions, Orthopedics, Surgery and Vision categories. Company offers intraocular lens products in vision categories. Over 152,700 people work for Johnson & Johnson and its subsidiaries (the Company) globally, conducting research and development, producing, and marketing a wide range of healthcare-related products. The company focuses mostly on products that are relevant to human health and well-being and operates in almost every country in the world. Johnson & Johnson markets an array of contact lenses and intraocular lenses through its subsidiary Vision Care and this subsidiary achieved an increase in the sales in 2022. The intraocular Lenses growth was due to market recovery and market share gains from new products, whereas Surgical Vision growth was primarily due to market recovery and uptake of recently launched products.

Carl Zeiss Meditec AG

Carl Zeiss Meditec AG is the parent company of the Carl Zeiss Meditec Group and has a direct presence in key medical technology markets. The Carl Zeiss Meditec Group also utilizes the distribution network of the ZEISS Group. Carl Zeiss Meditec Group is essentially divided into two main areas or Strategic Business Unit, Ophthalmic Devices and Microsurgery. The division of the strategic business units is based on the fields of application and customer groups within ophthalmology and microsurgery. Under Ophthalmic Devices unit, in the microincision surgery portfolio, the Carl Zeiss Meditec Group offers lenses (IOL) for cataract patients. In the development of IOLs segment, company extended its portfolio of trifocal IOLs with the launch of the AT ELANA 841P IOL, a single- piece hydrophobic acrylic implant which is based on the optical design of the single- piece, four point-haptic AT LISA tri 839MP.

Related Reports:

Intraocular Lens Market byType (Monofocal, Premium, Phakic), Material (Hydrophobic, Hydrophilic, Silicone) Application (Cataract, Presbyopia, Corneal Disorder), End User, Unmet Need, Buying Criteria, Reimbursement - Global Forecast to 2029

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