North America Intraocular Lens Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The North America Intraocular Lens Market is segmented by Product (Monofocal Intraocular Lens, Accommodative Intraocular Lens, Multifocal Intraocular Lens, Toric Intraocular Lens), End User, and Geography.

Market Snapshot

Intraocular Lens Market_Image 1
Study Period: 2018 - 2026
Base Year: 2020
CAGR: 4.2 %

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Market Overview

The North American intraocular lens market is expected to witness a significant CAGR during the forecast period. Certain factors that are driving the market growth include rising demand and awareness for personalized medicine and targeted therapy, increasing cases of adverse drug reactions, and technological demands. According to the NIH National Eye Institute, currently, more than 11 million Americans have common vision problems that can be corrected with the use of prescriptive eyewear such as glasses or contact lenses. More than 150 million Americans use corrective eyewear, spending more than USD 15 billion on eyewear each year. Hence, the rise in the ophthalmic conditions across the region is expected to drive the growth of the intraocular lens market, over the forecast period.

Other than the adoption rate, there are few challenges associated with intraocular lenses, like the confusions and errors related to intraocular lenses (IOL) are found to be among the most common postoperative adverse events, as well as the most errors related to incorrect IOL implantation, which restricts its usage. In addition, the increasing costs of IOLs and poor reimbursement coverage are expected to hamper the market growth, over the forecast period.

Scope of the Report

Several types of intraocular lenses are available in the market, to improve vision. As per the scope of the report, the intraocular lens market is segmented by product (monofocal, accommodative, multifocal, and toric intraocular lens), end user, and geography.

By Product
Monofocal Intraocular Lens
Accommodative Intraocular Lens
Multifocal Intraocular Lens
Toric Intraocular Lens
By End User
Hospitals
Ambulatory Centers
Other Centers
Geography
North America
United States
Canada
Mexico

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Key Market Trends

The Accommodative IOL Segment is Expected to Exhibit Fastest Growth Rate over the Forecast Period

Accommodative intraocular lenses are known to accommodate well with post-surgical changes, as compared to that of monofocal intraocular lenses. These are preferred by patients suffering from macular degeneration, as they support the eye muscles in focusing on intermediate and distant objects. These lenses are widely used in the treatment of presbyopia and astigmatism. Moreover, the monofocal intraocular lens is the first choice for many, as it can provide the best image quality after the surgery. In addition to this, according to the American Academy of Ophthalmology, each year, approximately 2.4 million eye injuries occur in the United States alone. Thus rising eye injuries helps in propelling the growth of the market.

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Competitive Landscape

The North American intraocular lens market is highly competitive and consists of a few major players. Companies, like Bausch Health Companies Inc. (Bausch + Lomb), Carl Zeiss Meditec AG, EyeKon Medical Inc., HOYA CORPORATION, HumanOptics AG, Johnson and Johnson Vision Care Inc., Lenstec Inc., Alcon, Rayner, and STAAR Surgical Company, among others, hold a substantial share in the market studied.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Growing Burden of Ophthalmic Issues

      2. 4.2.2 Increasing Cases of Cataract in the Diabetic Population

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Intraocular Lens

      2. 4.3.2 Lack of Reimbursement Policies

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Monofocal Intraocular Lens

      2. 5.1.2 Accommodative Intraocular Lens

      3. 5.1.3 Multifocal Intraocular Lens

      4. 5.1.4 Toric Intraocular Lens

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Ambulatory Centers

      3. 5.2.3 Other Centers

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bausch Health Companies Inc. (Bausch + Lomb)

      2. 6.1.2 Carl Zeiss Meditec AG

      3. 6.1.3 EyeKon Medical Inc.

      4. 6.1.4 HOYA CORPORATION

      5. 6.1.5 HumanOptics AG

      6. 6.1.6 Johnson and Johnson Vision Care Inc.

      7. 6.1.7 Lenstec Inc.

      8. 6.1.8 Alcon

      9. 6.1.9 Rayner

      10. 6.1.10 STAAR Surgical Company

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The North America Intraocular Lens Market market is studied from 2018 - 2026.

The North America Intraocular Lens Market is growing at a CAGR of 4.2% over the next 5 years.

Bausch Health Companies Inc. (Bausch + Lomb), Carl Zeiss Meditec AG, EyeKon Medical Inc., HOYA CORPORATION, Alcon are the major companies operating in North America Intraocular Lens Market.

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