Japan Intraocular Lenses Market Insights Forecasts to 2033

• The Japan Intraocular Lenses Market Size was valued at USD 168.5 Million in 2023.
• The Market Size is Growing at a CAGR of 6.10% from 2023 to 2033
• The Japan Intraocular Lenses Market Size is Expected to reach USD 304.5 Million by 2033

The Japan Intraocular Lenses Market Size is anticipated to Exceed USD 304.5 Million by 2033, Growing at a CAGR of 6.10% from 2023 to 2033. The growing aging population, demand for cataract surgery, technological advancements, increasing disposable income, and preference for minimally invasive surgery are driving the growth of the intraocular lenses market in the Japan.     

Market Overview

Intraocular lenses are placed inside the eye to treat myopia or cataracts. They are the permanent artificial replacement for the eye lens. There are numerous varieties of intraocular lenses on the market that can help with vision correction. In Japan, myopia, often known as nearsightedness, is more common due to a combination of environmental variables, extended near-work activities, and lifestyle changes. This change in the population is having an impact on the demand for IOLs as a treatment option for cataracts as well as a practical means of refractive correction for younger people. To increase Japan's access to state-of-the-art intraocular lens (IOL) technologies and products, partnerships between international IOL makers and regional distributors are essential. There are collaborations and partnerships between industry stakeholders to develop customized solutions, comply with regulations, and implement efficient distribution strategies. This ensures patients timely access to cutting-edge ophthalmic technologies across the nation.

Report Coverage

This research report categorizes the market for the Japan intraocular lenses market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan intraocular lenses market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan intraocular lenses market.

Driving Factors

As Japan has one of the highest percentages of old people worldwide, age-related eye diseases like cataracts are becoming far more common. Thus, the increased aging population in the region is the key factor responsible for driving the market demand. There is a continuous investment by manufacturers in research and development to provide lenses with superior optical performance and greater surgical method compatibility. Thus, the development of cutting-edge technology and innovations are propelling the market growth. In addition, preference for minimally invasive surgery and increasing disposable income among the Japanese people are driving the Japan intraocular market.

Restraining Factors

The absence of reimbursement policies for high-end products restricts the adoption and leads to restrain the market growth.

Market Segmentation

The Japan Intraocular Lenses Market share is classified into product and material.

• The monofocal IOL segment dominated the market with the largest market share in 2023.

The Japan intraocular lenses market is segmented by product into monofocal IOL, multifocal IOL, toric IOL, and accommodative IOL. Among these, the monofocal IOL segment dominated the market with the largest market share in 2023. Ophthalmologists prefer monofocal IOLs for cataract surgery to address either near-vision hyperopia or distance-vision myopia. The popularity of monofocal lenses among patients and healthcare providers as well as the widespread coverage of these IOLs by insurance providers are bolstering the market in the monofocal IOL segment.

• The olymethylmethacrylate (PMMA) lenses segment dominates the Japan intraocular lenses market during the forecast period.       

Based on the material, the Japan intraocular lenses market is divided into polymethylmethacrylate (PMMA), silicone, and hydrophobic acrylic. Among these, the olymethylmethacrylate (PMMA) lenses segment dominates the Japan intraocular lenses market during the forecast period. PMMA lenses are the preferred option for ophthalmologists because of their proven track record and several benefits. PMMA lenses are renowned for their superior stability over time in the eye and high biocompatibility. The accessibility and affordability of PMMA lenses in the healthcare system as well as favourable reimbursement policies that cover the costs of PMMA lenses are contributing to market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan intraocular lenses market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Alcon Japan Ltd.
• Menicon Co., Ltd.
• SEED Co., Ltd.
• Universal View Co., Ltd.
• Toray Industries, Inc.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, BVI, one of the fastest-growing surgical ophthalmic businesses in the world, announced the official launch of FINEVISION HP in Japan. 

• In November 2021, Toray Industries, Inc., announced that it has developed FILTRYZER HDF, Japan’s first polymethyl methacrylate (PMMA) hollow fiber membrane-based hemodiafiltration device.

Market Segment

This study forecasts revenue at Japan, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Japan Intraocular Lenses Market based on the below-mentioned segments:

Japan Intraocular Lenses Market, By Product

• Monofocal IOL
• Multifocal IOL
• Toric IOL
• Accommodative IOL

Japan Intraocular Lenses Market, By Material

• Polymethylmethacrylate (PMMA)
• Silicone
• Hydrophobic Acrylic