Middle East & Africa 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

The Middle East & Africa is the fifth largest region in the global Intraocular Lens (IOL) market. The Middle East & Africa Intraocular Lens market size is projected to grow at a CAGR of 4.0% 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 strong prevalence of ophthalmic diseases contributes to the rising number of surgeries in the market. The growing product awareness and the rising cataract cases are expected to boost market growth. For instance, according to an article published by Science Direct in 2020, a survey on cataract prevalence was conducted in selected communities in Limpopo Province of South Africa. It was found that approximately 44.0% of people were suffering from cataracts out of the 387 respondents. Also, the respondents had limited knowledge about cataracts. A significant cataract prevalence rate and a strong need for cataract procedures are expected to fuel the usage of the monofocal intraocular lens as they are cost-effective and substantially contribute to the market growth. Furthermore, extensive government initiatives to raise public awareness and frequent product approvals augment market growth.

Our report on the Middle East & Africa IOL market share covers the following countries/regions – GCC, South Africa, and the Rest of Middle East & Africa.

LATEST TRENDS

Rising Focus of Key Players to Launch Advanced IOLs Propels the Market Growth

Technological advancements have been staggering in the Intraocular Lens (IOL) market, thereby leading the prominent players to increase their focus on emerging nations to launch technologically advanced products such as Extended Depth of Focus (EDOF). The usage of premium IOLs is growing steadily due to increased patient demand for better visual experience. Also, rising disposable income and healthcare facilities strongly contribute to the Middle East & Africa Intraocular Lens market growth. In some countries in the Middle East & Africa, Johnson & Johnson Vision Care, Inc. introduced TECHNIS Symfony OptiBlue in 2022.

DRIVING FACTORS

Significant Number of Cataract Procedures Propels the Market Development

The prevalence of certain eye disorders, such as cataracts and glaucoma, has been continuously rising across various countries of the Middle East & Africa. Such a substantial rise in prevalence favors the strong demand for cataract surgeries. Also, the non-government bodies carrying out cataract surgical procedures for needy patients contribute to market growth.

• According to an Anadolu Agency article published in 2022, Turkey's Humanitarian Relief Foundation (IHH) performed 17,200 cataract surgeries in Pakistan, India, Sri Lanka, Syria, Mali, Niger, and Ethiopia. Such a rising number of cataract surgeries favors market growth.

RESTRAINING FACTORS

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High Cost Coupled with Lack of Reimbursement Policies for Cataract Surgeries Hinders the Market Growth 

Cataract surgery is associated with various direct and indirect costs. Also, the cost varies based on patient's preference such as IOL type and material. In emerging countries, lack of awareness coupled with the high surgery costs tremendously impacts product adoption. In addition, the lack of adequate reimbursement facilities for monofocal and multifocal intraocular lens hinder the growth of the market.

• According to an article published by the Nigerian Journal of Ophthalmology in 2021, as per various studies, the cost of cataract surgery has been identified as a significant barrier, especially in developing countries. According to Nigerian Blindness and Visual Impairment Survey, approximately 36.0% of respondents reported a lack of personal finances as the primary reason for not undergoing cataract surgery.

KEY INDUSTRY PLAYERS

In terms of competitive analysis, the market reflects a consolidated type of market. The Middle East & Africa market comprises major players such as Alcon Inc., Johnson & Johnson Vision Care, Inc., HOYA Corporation, and Bausch & Lomb Incorporated. A strong product portfolio, robust market initiatives such as product launches, geographical expansion, and awareness programs contribute to market dominance.

Some of the growing companies in the IOL market include STAAR Surgical Company and Carl Zeiss Meditec AG., owing to rising strategic initiatives and brand expansion to strengthen their market growth during the forecast period.

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: Johnson & Johnson Vision Care, Inc. introduced TECHNIS 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.


• October 2017: Biotech launched Phakic Toric intraocular lens at the 51st National Congress of the Turkish Ophthalmologic Association in Antalya, Turkey.


• October 2017: Alcon Inc. collaborated with local scientific societies to launch the ‘More to See’ campaign, to raise patient education and awareness in Europe, the Middle East, and Africa (EMEA).

REPORT COVERAGE

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The research report comprises market analysis of the size and growth rate. It highlights the key aspects, such as market dynamics, competitive analysis, new product launches, number of cataract prevalence and procedures, key industry developments, government cataract initiatives by key countries, regulatory and reimbursement scenarios, and the COVID-19 impact on the overall market.

Report Scope & Segmentation