Prevalence of cataract surgery boosts IOL market

Intraocular lenses (IOLs) have been forecasted to jump from $4.1bn in 2022 to almost $5bn by 2033 due to increased cataract surgeries, according to GlobalData research. 

Due to a heightened capacity for cataract surgery facilities globally, the IOL market has continued to expand. 

It said that IOL technologies, including trifocal, quadrifocal, and extended depth-of-focus (EDOF) lenses, have been instrumental in providing alternative vision corrections to spectacles. While monofocals still hold a larger market share, IOL lenses are expected to gain prominence. 

Brian Hicks, senior medical device analyst at GlobalData, said: ‘The rise in the prevalence of 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. GlobalData expects an increase in the number of eye surgeries and the use of IOLs for both cataracts and refractive errors in the next decade.’