South Africa Intraocular Lens Market Size & Outlook
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South Africa intraocular lens market highlights
- The South Africa intraocular lens market generated a revenue of USD 105.2 million in 2023 and is expected to reach USD 158.4 million by 2030.
- The South Africa market is expected to grow at a CAGR of 6% from 2024 to 2030.
- In terms of segment, multifocal intraocular lenses was the largest revenue generating product in 2023.
- Multifocal Intraocular Lenses is the most lucrative product segment registering the fastest growth during the forecast period.
Intraocular lens market data book summary
| Market revenue in 2023 | USD 105.2 million |
| Market revenue in 2030 | USD 158.4 million |
| Growth rate | 6% (CAGR from 2024 to 2030) |
| Largest segment | Multifocal intraocular lenses |
| Fastest growing segment | Multifocal Intraocular Lenses |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Monofocal Intraocular Lenses, Multifocal Intraocular Lenses, Toric Intraocular Lenses, Accommodative Intraocular Lenses |
| Key market players worldwide | Alcon Inc, Bausch & Lomb Corp, Carl Zeiss Meditec AG, Staar Surgical Co, Hoya Corp, Johnson & Johnson, Rayner Surgical Group, Eyekon Medical, Lenstec, HumanOptics |
Other key industry trends
- In terms of revenue, South Africa accounted for 2.4% of the global intraocular lens market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, South Africa intraocular lens market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 55.3 million by 2030.
Multifocal intraocular lenses was the largest segment with a revenue share of 35.36% in 2023. Horizon Databook has segmented the South Africa intraocular lens market based on monofocal intraocular lenses, multifocal intraocular lenses, toric intraocular lenses, accommodative intraocular lenses covering the revenue growth of each sub-segment from 2018 to 2030.
South Africa intraocular lenses market is expected to witness a significant growth rate over the forecast period. There are many challenges in the healthcare sector such as poor economic conditions and high unmet medical needs, especially in rural areas.
The need for reducing the cost of surgical procedures and providing cost-effective healthcare services to individuals are challenges for the government in this country. The Ophthalmological Society of South Africa is responsible for promoting and regulating the eye care in the country.
It conducts awareness campaigns, and as stated in its newsletter Vision 2020, is looking forward to adopting eye care agenda of WHO Global Action Plan 2014–2019. This action plan includes the ability to provide affordable solutions for visual impairment as well as for rehabilitation of patients.
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Intraocular Lens Market Scope
Intraocular Lens Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| HumanOptics | View profile | 101-250 | Erlangen, Bayern, Germany, Europe | http://www.humanoptics.com/en/ |
| Lenstec | View profile | 51-100 | Saint Petersburg, Florida, United States, North America | http://www.lenstec.com |
| Eyekon Medical | View profile | 11-50 | Clearwater, Florida, United States, North America | https://www.eyekonmedical.com/ |
| Rayner Surgical Group | View profile | 251-500 | Worthing, West Sussex, United Kingdom, Europe | http://www.rayner.com/ |
| Hoya Corp | View profile | 36571 | 20th Floor Nishi-Shinjuku Building, 6-10-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo, Japan, 160-8347 | http://www.hoya.co.jp |
| Staar Surgical Co | View profile | 1115 | 25651 Atlantic Ocean Drive, Lake Forest, CA, United States, 92630 | https://www.staar.com |
| Bausch & Lomb Corp | View profile | 13300 | 520 Applewood Crescent, Vaughan, ON, Canada, L4K 4B4 | https://www.bausch.com |
| Alcon Inc | View profile | 25315 | Chemin de Blandonnet 8, Royce Bedward, Vernier, Geneva, Switzerland, 1214 | https://www.alcon.com |
| Carl Zeiss Meditec AG | View profile | 4950 | Goschwitzer Strasse 51-52, Jena, TH, Germany, 07745 | https://www.zeiss.com |
| Johnson & Johnson | View profile | 134400 | One Johnson and Johnson Plaza, New Brunswick, NJ, United States, 08933 | https://www.jnj.com |
South Africa intraocular lens market size, by product, 2018-2030 (US$M)
South Africa Intraocular Lens Market Outlook Share, 2023 & 2030 (US$M)
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