According to the most recent industry analysis conducted by Future Market Insights, the global Implantable Collamer Lens Market was valued at approximately US$ 212.9 million in 2021. Projections indicate robust sales growth, with a compelling compound annual growth rate (CAGR) of 13.1% anticipated over the forecast period, leading to a market valuation of US$ 838.2 million by 2032.
Refractive surgeons have favored phakic intraocular implants for the past two decades to address cases of myopia unresponsive to excimer laser treatments. One notable innovation in this field is the Visian Implantable Collamer Lens (ICL), a posterior chamber phakic intraocular lens designed and manufactured by STAAR Surgical. This groundbreaking lens received FDA approval in 2005 and has consistently demonstrated its effectiveness in correcting myopia, with the capacity to address refractive errors of up to 18.00 diopters.
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The ICL was only offered in the U.S. in a spherical variant until 2018. As a result, high astigmatism and high myopia could not be treated simultaneously. In light of this, several surgeons in the refractive fiend adopted a sequential operation strategy that employs the use of an excimer-laser enhancement after ICL implantation. This sequence has been referred to as “Bioptics”.
The use of ICL in refractive surgery is increasing. ICLs are often regarded as an alternative to laser-based corneal procedures such as LASIK and photorefractive keratectomy (PRK). The implantable collamer lens is a specific type of posterior chamber phakic intraocular lens (pIOL). High levels of refractive error or situations where corneal refractive surgery is not recommended call for the adoption of pIOL. Quicker healing and reversibility are the additional benefits of this procedure over corneal refractive surgery.
High incidence of cataracts and other vision impairments among elderly and diabetic individuals is underpinning the need for implantable collamer lens. In addition to this, rising healthcare costs, and government-backed investments for the construction of healthcare infrastructure are some of the key factors propelling the market.
Key Takeaways:
- By indication, sales in the myopia segment are slated to increase at a 12.6% CAGR through 2032.
- In terms of end user, demand in the hospitals segment will grow at a 7% CAGR during the forecast period.
- China accounted for 6%of the total market share in 2021 and the trend is expected to continue over the assessment period.
- The U.S. will continue dominating the North America implantable collamer lens market through 2032.
- Japan will emerge as a lucrative pocket in the East Asia implantable collamer lens market.
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Competition Landscape
The global implantable collamer lens market includes only one manufacturer known as STAR SURGICAL. Incorporated in 1982 for the purpose of developing, producing, and marketing implantable lenses, the company is the first to receive the U.S. FDA approval for implantable collamer lens. Some recent developments include:
- In April 2021, STAAR submitted clinical data to the FDA to support a marketing approval for their EVO family of myopia lenses. The submission remains under interactive review with the FDA.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the implantable collamer lens market in its latest study, presenting a historical demand assessment of 2017 – 2021 and projections for 2022 – 2032.
The research study is based on the indication (myopia, hyperopia, and astigmatism), and end user (hospitals, ophthalmic clinics, ambulatory surgical centers, and eye research institutes), across seven key regions.
About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business.
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Key Market Segments Covered in Implantable Collamer Lens Industry Research
By Indication:
- Myopia
- Hyperopia
- Astigmatism
By End User:
- Hospitals
- Ophthalmic Clinics
- Ambulatory Surgical Centers
- Eye Research Institutes
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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