Cataract procedures boost artificial lens industry 2023

According to a Wednesday analysis, the intraocular lens (IOL) market would expand to over $5.0 billion in 2033 from $4.1 billion in 2022.

According to GlobalData, a prominent data and analytics organization, the IOL industry is growing as healthcare institutions globally increase their cataract surgery capacity.

IOLs replace cataract-removed lenses. The lens bends light entering the eye to let people see.

Cataract Awareness Month in June raises awareness of the astonishing number of people with vision impairments, particularly cataracts.

Lens degeneration causes most cataracts. Only moderate to severe cataracts are surgically treated with IOLs.

“The rise in cataracts and refractive error around the globe has compelled governments to start initiatives to lower the number of patients suffering from partial or complete blindness,” stated GlobalData Senior Medical Device Analyst Brian Hicks.

The WHO estimates that 2.2 billion people are visually impaired.

“GlobalData expects an increase in eye surgeries and IOLs for cataracts and refractive errors in the next decade,” he said.

IOLs are classified by material, focal length, and toricity. Advanced intraocular lenses include aspheric, toric, multifocal, and accommodating IOLs.

These have transformed cataract management.

Hicks said trifocal, quadrifocal, and extended-depth-of-focus (EDOF) IOLs have helped provide spectacle-free vision at all distances.

“While mono-focal lenses continue to dominate the market, the newer IOL technologies are expected to slowly catch up and increase their market share among all types of lenses,” he said.