Outlook on global Intraocular Lens (IOL) market between 2013 and 2018

Intraocular Lens (IOL): Market Shares, Strategies, and Forecasts, Worldwide, Nanotechnology, 2013 to 2018

Cataracts is the clouding of the eye's natural lens that damages one's ability to see clearly. They account for 48% of world blindness and are also one of the main causes for reversible blindness.

There is a high possibility for older people to develop cataracts, which can be cured with IOL. Hence, there would be a continuous growth in the worldwide markets for IOL mainly driven by the increase of cataracts in the aged population, which will in-turn increase the need for Intraocular Lenses.

Within the next 1 year, two accommodating Intraocular Lens (IOLs) are likely to be approved, due to which the IOL market will have a growth.

With the ever-increasing aged population, there is a growing precision of cataract surgery. The primary concerns of the IOL market is the safety of cataract surgical medical devices and lenses. Hence, in cataract surgery, more advanced procedures and lower costs per surgery is on the rise.

There is a rapid growth in the cataract surgical technology. Premium intraocular lenses (IOLs) that are introduced during the past decade and those that are still in the pipeline are main reasons behind the increase of patient’s post-cataract visual expectations. Laser-assisted cataract surgery technology is gaining importance with clinicians. Surgeons are getting trained in the techniques that are needed to perform surgeries, by using new types of equipment and the new equipment promises improved surgical precision.

When there is a clinical improvement in the patient’s eyesight because of superior image quality, they are thrilled with the clarity of vision. Due to which, there is a growth in the needs and expectations for good vision in all ranges, that have in-turn created significant new market opportunities by increased demand for multifocal and accommodating IOLs designed to correct certain draw backs in the vision such as presbyopia, aspheric optics that address spherical aberration and make vision sharper.

From the past 40 years, ultrasonic phacoemulsification is the standard of care in cataract removal equipment, which played a major role in the safety and effectiveness of modern cataract surgery. Even in the future, it is certain to remain the dominant lens removal technology. Whereas, laser-assisted cataract surgery using femtosecond lasers and picosecond lasers is still in its infancy, but promises to raise the standard of precision and safety to new heights.

Numerous types and styles of Intraocular Lenses (IOLs) are there in the market, which are varying in size and attachment mechanisms. For example, the femtosecond lasers may evolve with the capability to fix the cataract without implanting IOL devices, which will create a huge transition in the market.

 In terms of evolving industry requirements and standards and the rapid technology change, the eye care industry is highly competitive. In this industry, companies compete with each other on various factors such as quality and efficacy of their products, technological leadership and innovation, breadth and depth of product offering and pricing and maintaining their relationships with eye care professionals and healthcare providers and these factors vary across regions.

There is a significant growth in this lens-based refractive surgery sector in US, mainly driven by the leading market segment, an aging population, the American “baby boomer” generation and also the ability of surgeons to bill for a premium refractive outcome. 

The latest trend in the Intraocular Lens (IOL) markets is the multi-distance vision capability comprising near middle and far. By 2019, the global market for Intraocular Lenses (IOL) total market value is forecast to have a growth of $3.8 billion.  

There would be a huge growth in the global intraocular lens cataract market mainly because of the aging middle class population throughout the world. In 2012, there were 19.7 million cataract surgeries done when compared to 19 million cataract surgeries in 2010.  

Report Coverage

This report provides information about various topics related to global Intraocular Lens market such as intraocular lens (IOL) executive summary, intraocular lens market description and market dynamics, intraocular lens market shares and forecasts, intraocular lens (IOL) product description, intraocular lens (IOL) technology and many more.

The report also covers key data and information about various companies who are operating in the global Intraocular Lens market which includes Novartis / Alcon, Abbott Medical Optics, Bausch & Lomb, Hoya, Carl Zeiss Meditec AG, Staar Surgical, EuroCrystal SA and many others.

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