Market Scope expects global intraocular lens (IOL) procedures to climb to 31.4 million in 2022 at a compounded annual rate of 3.1 percent. Factors contributing to growth in the IOL market are steady growth of an aging population, the availability of enhanced monofocal and premium-featured IOLs, robust demand for improved visual outcomes, and growing worldwide access to advanced medical technology. The fastest growth is anticipated in developing countries and regions (China, India, and Latin America) with the highest population growth rates, in addition to relatively large population groups with cataracts that have not been surgically addressed.
Skyrocketing health care costs in the face of a global recession have forced many countries to adopt austerity measures that have slowed growth in cataract surgeries. Despite this, Market Scope looks for steady growth over the next five years. Austerity measures tend to cause a buildup in the cataract surgery patient backlog over time and have little effect on the global average yearly increase in cataract surgeries. Most IOL market growth is expected to come from increased selling prices related to improvements in IOLs entering the market.
Enhancements to IOLs are likely to include an increased number of multifocal optic designs, greater variety of toric optics, increased number of multifocal and accommodating toric IOLs, and new accommodating IOLs with greater range of vision. Also expected are improved aspheric and wavefront-designed IOLs, IOLs with postoperative adjustability, IOLs with extended depth of focus (EDF or EDOF), and IOL optics that are free of glistening. We also anticipate improvements in injector technologies, including new preloaded disposable injectors, new IOLs designed for even smaller incisions, more IOLs that filter visible blue light, phakic IOL enhancements, including toric and multifocal optics, combination IOLs that incorporate a number of the above technologies, add-on sulcus-fixated IOLs to improve postop outcomes for cataract patients, customized wavefront-designed IOLs, and IOLs designed to take full advantage of the precision of femtosecond laser cataract surgery.
These enhancements will expand the premium IOL segment, which by 2022 is expected to account for more than 12 percent of total IOL procedures and 41 percent of total IOL market revenues.
The global IOL market is dominated by five companies, each with sales exceeding $150 million: Alcon, Johnson & Johnson Vision (formerly AMO), Bausch + Lomb (B+L), Hoya, and Carl Zeiss Meditec (CZM). These five are expected to generate about $2.5 billion, or two-thirds of global IOL revenues, in 2017.
Market Scope published its 2017 IOL Report: A Global Market Analysis for 2016 to 2022 in May 2017. It is the only report that provides in-depth coverage of commercialized and investigational intraocular lenses used in treating cataracts. This report includes market data for 2016, and we forecast market performance through 2022. Our forecast subdivides the IOL market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.