Intraocular Lens Market

Alcon, Inc. (US) (Novartis AG (Switzerland)) and Bausch + Lomb (US) (Valeant Pharmaceuticals International (Canada)) are the Key Players in the Intraocular Lens (IOL) Market

The global intraocular lens (IOL) market is projected to reach USD 4.56 Billion by 2022 from USD 3.50 Billion in 2017, at a CAGR of 5.4% during the forecast period. The ophthalmology industry is a well-established market with various regional and multinational market players. In 2017, Alcon, Inc. (US) (Novartis AG (Switzerland)), Bausch + Lomb (US) (Valeant Pharmaceuticals International (Canada)), Johnson & Johnson Vision Care, Inc. (US), Carl Zeiss Meditec (Germany), and HOYA Corporation (Japan) dominated the intraocular lens market. These players together accounted for a share of 64.5% to 67.5% of the intraocular lens market.

Alcon, Inc. (US) (Novartis AG (Switzerland)), dominated the intraocular lens market in 2017. Alcon offers a broad spectrum of innovative intraocular lenses products and a majority of its sales are generated from key markets such as the US and Europe. The company focuses on research to design and develop advanced ophthalmology products. It is continuously focusing on investment in research and development, Alcon invested USD 486 million in R&D during 2016 as compared to USD 455 million in 2015, which helped the company launch innovative products. For instance, in October 2017, Alcon launched the Clareon intraocular lens to strengthen its surgical product offerings for the treatment of cataract. The company also entered into various agreements to enhance its presence in the intraocular lenses market.

The company has established a strong and wide distribution network across the globe with 25,000 employees in about 75 countries. Its synergy with Novartis AG, Alcon’s parent company, enables it to enhance its global exposure. Alcon also benefits considerably from the technological expertise of its parent company.

Bausch + Lomb (US) (Valeant Pharmaceuticals International (Canada)) held the second position in the global intraocular lenses market in 2017. It is a well-reputed brand in the sphere of ophthalmic products across the globe. The company’s cataract product portfolio offers ophthalmic surgeons with a full range of innovative and advanced intraocular lenses, IOL injectors, and other related medical devices for effective and minimally-invasive cataract surgery. To maintain its leading position in the intraocular lenses market, the company majorly focuses on collaborations, product launches, and on receiving regulatory approvals for its products. For instance, in October 2017, the company launched the enVista MX60E, a hydrophobic, acrylic advanced optic (AO) IOL with StableFlex technology to provide controlled unfolding, excellent stability, and enhanced optic recovery.

Johnson & Johnson Vision Care, Inc. (US) was ranked third in the intraocular lens market in 2017. The company’s leading position in the market is attributed to its strong product portfolio for a range of vision-related conditions. Under its flagship brand, TECNIS, the company offers various IOLs that have been adopted widely across the globe. The company also has a massive geographic presence across the US, Europe, Asia Pacific, and Africa, among other regions, which enables it to cater to a broader customer base. Johnson & Johnson Vision Care mainly focuses on acquisitions and expansions to maintain its leadership position in the market. For instance, recently, in February 2017, the company has acquired Abbott Medical Optics (US).

Some of the other players competing in this market are STAAR Surgical Company (US), Rayner Intraocular Lenses Limited (UK), PhysIOL (Belgium), Ophtec BV (Netherlands), Swiss Advanced Vision (SAV IOL) (Switzerland), Oculentis GmbH (Germany), NIDEK CO., LTD. (Japan), Aurolab (India), Omni Lens Pvt Ltd. (India), Care Group (India), Hanita Lenses R.C.A Ltd. (Israel), and Fred Hollows Intraocular Laboratory (Eritrea).

Related Reports:

Intraocular Lens (IOL) Market by Type (Traditional/Monofocal (Spheric, Aspheric), Premium (Multifocal, Accommodating, and Extended Depth of Focus), and Phakic), Material (PMMA, Foldable), End User (Hospital, Clinic), and Region - Global Forecast to 2022

Mr. Rohan
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Report Code
MD 5942
Published ON
Jan, 2018
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