Intraocular Lens Market Share

North American Market Forecast

The intraocular lens market in North America is projected to have the growth by the end of 2037, backed by growing healthcare investment, along with rising prevalence of cataracts. In 2021, the United States spent about 3% more on health care, amounting to approximately USD 3 trillion or about USD 12,913 per person. In North America, minimally invasive surgery methods such as femtosecond laser-assisted cataract surgery (FLACS) and microincision cataract surgery (MICS) are becoming more and more common. Compared to conventional cataract surgery, these approaches are more precise, safe, and they frequently demand for the use of expensive IOLs to produce the best results. Moreover, owing to the growing disposable income of people in this region their demand for premium IOLs is growing. Additionally, IOLs and cataract surgery are usually covered by favorable reimbursement rules in North America, which has expanded the use of premium IOLs among patients and medical professionals.

Europe Market Forecast

The European intraocular lens market is estimated to be the second largest, to have the highest growth over the forecast period. The need for cataract surgery and IOLs is being driven by the ageing of the European population. Age-related clouding of the natural lens of the eye could lead to cataracts, which could impair vision. The hazy lens is replaced with an IOL to improve vision. In addition, Europe is home to a large number of creative businesses and research organizations that are creating new and sophisticated IOLs. Patients and surgeons are turning to these new technologies to get better visual results, which is propelling market expansion.

APAC Market Statistics

Additionally, the intraocular lens market in Asia Pacific region is also estimated to have the significant growth over the forecast period. Eye conditions include cataracts, diabetic retinopathy, and age-related macular degeneration are very common in the Asia Pacific region. As more people are given the diagnosis of having these illnesses, this is increasing the demand for cataract surgery and IOLs. Additionally, a lot of nations in the Asia-Pacific region are well-liked spots for medical tourism, particularly for eye surgery. As more people travel to this region for cataract surgery and IOL implantation, this is fueling market growth. Moreover, the insurance coverage for cataract surgery and IOLs is expanding in several nations around the Asia-Pacific region. More people are able to obtain these services through their insurance policies as a result, which is fueling intraocular lens market expansion.