Vision correction technology has seen remarkable advancements in recent years, particularly in the realm of Contact and Intraocular Lenses. These lenses, also known as Vision Correction Lenses, play a crucial role in restoring and enhancing eyesight for individuals with various vision impairments. Contact lenses offer a convenient and non-invasive solution for correcting refractive errors such as myopia, hyperopia, and astigmatism. On the other hand, Intraocular Lenses are implanted within the eye during cataract surgery to replace the natural lens, providing clear vision and reducing dependence on glasses or contact lenses. With continuous innovation in lens materials and design, patients now have access to a wide range of options tailored to their unique visual needs. As a result, Contact and Intraocular Lenses have become indispensable tools in the field of ophthalmology, transforming the lives of millions worldwide by improving their vision and overall quality of life.
The market size for Contact and Intraocular Lenses was estimated at USD 8.93 billion in 2021. It is anticipated that the contact and intraocular lenses market would increase from USD 9.56 billion in 2022 to USD 16.43 billion by 2030, with a compound annual growth rate (CAGR) of 7.01% over the eight-year projection period (2022– 2030).
Segment Analysis:
- Type:
- Contact and Intraocular Lenses:
- Sub-segmented into:
- Spherical Contact and Intraocular Lenses
- Toric Contact and Intraocular Lenses
- Multifocal Contact and Intraocular Lenses
- Cosmetic and lifestyle-oriented lenses
- Intraocular Lenses:
- Sub-segmented into:
- Traditional/Monofocal IOLS
- Multifocal IOLS
- TORIC IOLS
- Accommodating IOLS
- Extended depth-of-focus (EDOF) IOLS
- Phakic IOLS
- Material:
- Contact and Intraocular Lenses Material:
- Sub-segmented into:
- Silicone hydrogel soft Contact and Intraocular Lenses
- Methacrylate hydrogel soft Contact and Intraocular Lenses
- Gas-permeable Contact Lenses
- Others
- Intraocular Lenses Material:
- Sub-segmented into:
- Hydrophobic acrylic IOLS
- Hydrophilic acrylic IOLS
- Polymethylmeth- acrylate (PMMA) IOLS
- Others
- End-User:
- Hospitals
- Ophthalmic clinics
- Others
Regional Analysis:
- Americas:
- Spearheaded the market due to high numbers of cataract surgeries, mergers & acquisitions, and product launches.
- Expected to maintain dominance with continued growth in cataract cases and product launches.
- Europe:
- Second-largest market with well-developed medical industry.
- Product launches, such as Bausch Health's LuxGood, will contribute to market growth.
- Western Europe (Germany, France, UK, Italy, Spain, and Rest of Western Europe) is a significant contributor.
- Asia-Pacific:
- Expected to register the highest growth rate due to high incidence of cataract, product approvals, and business expansion.
- Key countries include China, India, Japan, South Korea, Australia, and Rest of Asia-Pacific.
- Middle East & Africa:
- Growing steadily with increasing adoption of newer diagnostic instruments, especially in countries like South Africa, UAE, and Saudi Arabia.
- Expected growth due to strategic initiatives by private and public firms and organizations.
Ophthalmic implants have revolutionized the way vision disorders are treated, offering safe and effective solutions for patients seeking visual clarity and freedom from corrective eyewear. Among these implants, Contact and Intraocular Lenses stand out as versatile devices capable of addressing a spectrum of vision problems. Referred to interchangeably as Vision Correction Lenses, these implants are meticulously designed to correct refractive errors and enhance visual acuity. Contact lenses, worn directly on the cornea, provide a discreet and comfortable option for daily vision correction, while Intraocular Lenses offer a more permanent solution for those undergoing cataract surgery or seeking refractive lens exchange. With advancements in surgical techniques and lens technology, the field of ophthalmology continues to push boundaries in delivering precise, predictable, and customized outcomes for patients relying on Contact and Intraocular Lenses for improved vision and quality of life.
Key Players
MRFR recognizes the following companies as the Key Contact and Intraocular Lenses Companies — Johnson & Johnson Services, Inc. (New Jersey, US), Bausch & Lomb Incorporated (New York, US), Alcon (Geneva, Switzerland), Hoya Corporation (Shinjuku City, Tokyo, Japan), Carl Zeiss Meditec AG (Jena, Germany), Staar Surgical (California, US), HumanOptics AG (Bavaria, Germany), Nidek Co., Ltd (Aichi, Japan, PhysIOL (Liege, Belgium), and The Cooper Companies, Inc. (California, US).
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