05.19.20

Market Scope: Premium IOLs Expected to Drive Market Growth Over the Next 5 Years

Source: Market Scope

The revenue contribution of premium IOLs is expected to grow over the next 5 years as the number and different types of IOL designs offered to cataract and refractive patients seeking better visual outcomes increases, according to a Market Scope report.

In 2019, premium IOLs accounted a third of global IOL revenue and, by 2025, Market Scope expects premium IOL revenue to increase to nearly $2.9 billion, or 45 percent of the total. Market Scope’s 2020 IOL revenue forecast shows a 26 percent decline from 2019 due to the COVID-19 pandemic halting cataract surgery. Because we are still in the midst of the pandemic, without a clear picture of when elective surgery will resume throughout the world, the firm will be providing updated forecast tables to report buyers at the end of July, when the impact of COVID-19 on 2020 IOL sales becomes clearer.

The 2020 IOL Market Report focuses on each of the key technologies that will drive premium IOL revenue over the next 5 years. In the short term, the firm expects modest growth to come mainly from enhancements to today’s PC and toric IOL technologies, including different types of EDOF and combination EDOF/trifocal model variations. The resurgence of phakic IOLs will also help sustain healthy premium IOL growth.

Longer term, Market Scope expects premium IOL growth to accelerate when the next generation of optic shape-changing accommodating and postoperative adjustable IOLs come on the market. Accommodating IOLs are often referred to as the “holy grail” of PC-IOLs because of the belief that they will one day offer patients spectacle independence without optical disturbances. The 2020 report describes the developments of five companies working on accommodating IOLs. Promising early clinical results have been seen with the Alcon PowerVision FluidLens and LensGen Juvene.

The 2020 IOL Market Report also focuses on changes occurring in the IOL competitive landscape. The report divides the more than 70 IOL companies into four tiers, with first-tier companies accounting for 73 percent of 2020 revenue. The report also profiles more than 70 IOL companies, describing their product offerings and estimating their current yearly IOL revenues. The report lists and rank the major competitors by revenue and market share in each of eight countries or regions of the world.

In constructing their global IOL unit and revenue forecast, Market Scope looked at sales in 160 individual countries. The firm provides 2019 through 2025 sales forecasts by type of IOL in units and dollars for eight countries or regions of the world: the US, Western Europe, Japan, Other Wealthy Nations (OWN), China, India, Latin America, and rest of the world (ROW).

Market Scope’s “2020 IOL Market Report” was published in May.

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