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 lenses market is projected to reach USD 4.6 billion by 2022 and is expected to grow at a CAGR of 5.4% during the forecast period of 2017-2022. The global intraocular lenses market is dominated by five major players namely, Alcon, Inc. (US), Bausch + Lomb (US), Johnson & Johnson Vision Care (US), Carl Zeiss Meditec (Germany), and HOYA Corporation (Japan); and together these key players accounted for a share of about 67% in 2016. To maintain the leading positions in this market, these players have adopted product launches, and agreements, collaborations, and partnerships as their major growth strategies.
Alcon, Inc. (Novartis AG) is a leading player in the intraocular lenses market, commanding the largest share in 2016. Alcon offers a broad spectrum of innovative intraocular lenses products and a majority of its sales are generated from major markets such as the US and Europe. The company majorly focuses on product launches to maintain its position in the market. 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.
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Bausch + Lomb held the second position in the global intraocular lenses market in 2016. 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.
Johnson & Johnson Vision Care held third position in the intraocular lenses market. 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 broad 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 major players operating in the intraocular market are Carl Zeiss Meditec (Germany), HOYA Corporation (Japan), 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 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
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