Europe Intraocular Lens (IOL) Market Size, Share & COVID-19 Impact Analysis, By Type (Monofocal and Premium {Multifocal, Toric, and Others}), By Material (Polymethylmethacrylate (PMMA) and Foldable {Hydrophobic Acrylic, Hydrophobic Acrylic, and Silicone & Collamer}), By End-user (Hospitals & Ambulatory Surgery Centers, Specialty Clinics, and Academic & Research Institutes), and Regional Forecast, 2023-2030

Europe is the second largest region in the global Intraocular Lens (IOL) market. It is projected to grow at a CAGR of 6.8% during the forecast period. The global market for Intraocular Lens is projected to grow from USD 4.24 billion in 2022 to USD 7.19 billion by 2030.

The growing adoption of Intraocular Lenses (IOL) due to the strong incidence rate of cataracts and glaucoma has led the key players to introduce advanced products in the market. Due to active government initiatives and suitable reimbursement policies, the awareness for eye care including ophthalmic surgeries is rising, subsequently increasing the number of cataract surgeries in Europe. For instance, as per an article published by the Ophthalmology Times Europe in 2023, approximately 4.7 million cataract surgeries are performed annually in Europe. Thus, a robust number of cataract surgical procedures favors the Europe IOL market growth. Similarly, efforts from leading players, such as strategic mergers and partnerships, will accelerate the market growth during the forecast period.

Our report on the Europe Intraocular Lens market share covers the following countries/regions – Germany, the U.K., France, Italy, Spain, Scandinavia, and the Rest of Europe.

LATEST TRENDS

Advanced Product Approvals to Augment the Market Expansion

The key trend witnessed in the market is the rising development of extended-depth-of-focus products in Europe. The rising patient demand for a better visual experience has augmented the adoption rate of advanced product offerings. The benefits of extended depth-of-focus, such as more elongated focus and range, have increased key players' interest in launching these products in the market. In March 2020, Alcon Inc. launched AcrySof IQ Vivity, a first-of-its-kind IOL in selective European markets. Also, the market players are focusing on upscaling their manufacturing capacity to cater to the growing demand for IOLs. In March 2022, Johnson & Johnson Vision Care, Inc. invested USD 41.7 million in its Limerick facility to develop its advanced manufacturing footmark in Ireland. The company has begun to produce intraocular lenses in Limerick, Ireland.

DRIVING FACTORS

Collaborative Initiatives to Combat Cataract Propels the Market Growth

Another critical factor driving the market growth is the increased emphasis by key players on partnerships with various bodies to upsurge product awareness. Such collaborations also provide funding for one-year fellowships abroad for healthcare professionals at centers of excellence in Europe to gain clinical experience in cataract and refractive surgery. Such initiatives increase these products' adoption, which further contributes to the growth of the Europe Intraocular Lens market size during the forecast period.

• In September 2022, Johnson & Johnson Vision Care, Inc. presented data from TECNIS Synergy IOL, TECNIS Eyhance IOL, and VERITAS Vision System at the 40th European Society of Cataract and Refractive Surgeons (ESCRS) congress.


• The Alcon and the European Society of Cataract and Refractive Surgeons (ESCRS) also launched programs to educate young ophthalmologists in 2021.

RESTRAINING FACTORS

High Cost Associated with IOL Surgeries to Limit the Market Growth 

Despite the robust product adoption, the high costs associated with ophthalmic surgeries negatively impact this market growth. This cost varies based on the product type or material and healthcare services. In addition, some people suffer from cataracts in both eyes. This results in significant spending on cataract surgeries.

For instance, according to an article published in Bookimed in 2023, the average cost of cataract surgery, including IOL replacement, ranges from USD 5,100.0 to USD 6,300.0 in Germany. It includes hospitalization and IOL replacement charges as well.

Also, cataract surgeries with multifocal intraocular lens are not covered completely under insurance policies. Due to such a scenario, the patients are extremely hesitant to seek elective health care for their eyes. These factors restrict market expansion.

KEY INDUSTRY PLAYERS

Regarding the competitive landscape, Alcon Inc., Johnson & Johnson Vision Care, Inc., Bausch & Lomb Incorporated, and HOYA Corporation are the major players in the Europe market. This is owing to strong product offerings, active R&D initiatives for the surge of product launches, and approvals over the forecast period. In September 2022, Johnson & Johnson Vision Care, Inc. introduced TECNIS Symfony OptiBlue in the U.S. and some countries of the EMEA region. The product is a presbyopia-correcting intraocular lens powered by InteliLight technology.

Other prominent players, such as Carl Zeiss Meditec AG and STAAR Surgical Company, also generated significant sales for these devices. Rising focus on expanding product portfolio and market presence also contribute to their significant market share in coming years.

LIST OF KEY COMPANIES PROFILED:

• Alcon Inc. (Switzerland)


• Bausch & Lomb Incorporated (Bausch Health Companies, Inc.) (Canada)


• Johnson & Johnson Vision Care, Inc. (Johnson & Johnson Services, Inc.) (U.S.)


• HOYA Corporation (Japan)


• Rayner Group (U.K.)


• Hanita Lenses (Israel)


• SIFI S.p.A (Italy)


• Biotech (Switzerland)


• STAAR SURGICAL (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022: SIFI S.p.A presented new clinical data and launched Evolux, a novel extended monofocal Intraocular Lens at the European Society of Cataract and Refractive Surgeons (ESCRS). It provides better intermediate and equivalent distance vision than a standard monofocal IOL.


• July 2022: Rayner Group expanded its European business by commercializing its product in France.


• March 2021: Hanita Lenses received the CE mark for intraocular lenses, capsular tension ring, and foldable Intra Ocular Lens Delivery System to commercialize its product in Europe. In 2016, the company received ISO certification.

REPORT COVERAGE

The market report covers the qualitative and quantitative market insights on the market size & growth rate of all given segments.  Similarly, the research report highlights the key insights, including an overview of the number of cataract prevalence and procedures, key industry developments, new product launches, government cataract initiatives, regulatory and reimbursement scenarios and the impact of COVID-19 pandemic on the market. Moreover, the report covers market dynamics and the market's competitive landscape.

Report Scope & Segmentation