Intraocular Lens (IOL) implantation enables restoration of normal vision and significantly reduces problems associated with cataract spectacles and contact lenses. Surgical techniques for extracting the human lens continued over time by means of incision size. In later days, invention of implantable, tolerable and technically feasible IOL was revolutionized in cataract surgery. In case of IOL material, Rigid or Polymethylmethacrylate (PMMA) was preferred intraocular lens material for a long time due to its lightness, clarity and stability, which were un-foldable lenses. Advancement in IOL material, PMMA are eventually replaced by silicone lens, hydrophilic and hydrophobic acrylic lenses.
Moreover, continuous development in new intraocular lens (IOL) material and design has offered more options such as hydrogel, soft acrylic and silicone IOL. However, ease of use, availability, cost, and surgeon preference are also important factors, which influence IOL selection. Currently, key players in the intraocular lens market offers various types IOLs to improve the vision, which includes monofocal lens, multifocal lens, toric lens, accommodating lens, and trifocal lens.
Increasing numbers of cataract surgeries, coupled with growing demand for multi-distance vision lens and significant increase in awareness programs for cataract patients by various government and private organizations are expected to augment growth of the intraocular lens market over the forecast period. Moreover, adoption of advanced technologies in cataract surgery and entry of various market players offering technologically advanced intraocular lens with affordable costs are further expected to drive growth of intraocular lens market. For instance, several market players in Asia are offering products with comparable performance levels to that of high-end intraocular lens, albeit at affordable costs. The intraocular lens market is expected to exhibit rapid growth in Asian economies such as China and India. This is mainly attributed to factors such as increasing availability of skilled physicians and healthcare practitioners, lower costs incurred with medical facilities and combined efforts of government and domestic players to increase patient access.
The global intraocular lens market was valued at US$ 3.8 billion in 2017 and is expected to witness a CAGR of 7.5% over the forecast period (2017 – 2025).