The U.S. Intraocular Lens (IOL) market was valued at 1.15 billion in 2017 and is projected to reach to 1.79 billion by 2025 at a compound annual growth rate of 5.8 percent during the forecast period 2018 to 2025, according to Reports Monitor, a global aggregator and publisher of market intelligence research reports.

Age plays a vital role while choosing IOL surgery as an option for various vision impairments, notes Aakansha Tyagi, a senior research associate at Reports Monitor. If the patient is over 60, cataract is more likely to play an important part in the decision to opt for such lens replacement surgery. However, if the young population experience problems such as eye injury/damage or any genetic eye conditions, it is more likely to prefer this implantation.

The National Institutes of Health stated that by the age of 80, more than half of the Americans either would have cataracts or had cataract surgery. Genetic deficits in quality of sight and increasing UV damage are spreading the prevalence of the eye diseases and deteriorating vision. With the increasing demand, cataract surgery needs to be accompanied by a suitable IOL.

Cataract Surgery: Present Scenario and Future Needs
The prevalence cataract is more in developing countries and more than 70 percent of people aged above 85 years are affected. Thus, the occurrence of cataract rises with age. Various medical organizations and community are facing the threat of inadequate numbers of the ophthalmic surgeons. In 2015, around 9,000 ophthalmic surgeons performed about 3.6 million cataract surgeries in the U.S. Hence, the insertion of a preloaded IOL by a robot or a technician might be a future development.

Intraocular lenses market is witnessing a significant growth with increasing demand for innovative products and rising number of cases having vision impairment and blindness due to cataract. Aging population and changing lifestyle are the major factors responsible for increased vision impairment. Increasing disposable income and willingness to spend on cosmetic surgeries and lens implantation by young population are expected to fuel the market growth.

Companies have adopted product innovations as their major marketing strategies to sustain in the competitive market. Innovation is not just necessary for the companies to remain in position but it also offers choice to patients to select from varied options.





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