As of 2022, the total market size of intraocular lenses in Korea is estimated to be approximately ***units (***USD) by manufacturers'/importers' initial selling unit and ***units (***USD) by medical institutions' purchase unit.
It is estimated that the relatively high production/import volume compared to the actual purchases by medical institutions is due to uncirculated products owned by manufacturers/importers and consignment inventories held by medical institutions. Consignment inventory held by medical institutions means products sold by medical institutions and yet, the ownership is retained by the suppliers until they have been actually used to patients.

The intraocular lens market is expected to maintain an average annual growth rate of ***% for the next 5 years and as a result, the market size is projected to be approximately ***USD (manufacturers/importers' initial selling prices) and ***USD (medical institutions' purchase prices). The average annual growth rates over the next five years are calculated respectively ***% for reimbursement products and ***% for non-reimbursement products.

The number of intraocular lenses actually purchased by medical institutions in 2022 estimated to be approximately ***. Among them, it is estimated that approximately ***units (***%) are reimbursement intraocular lenses, and approximately ***units (***%) are non-reimbursement intraocular lenses.

The purchase volume in 2022 is estimated to have increased by an average annual rate of ***% over the past four years compared to that of 2018, approximately ***units (*** reimbursement products + *** non-reimbursement products). However, compared to the previous year 2021, the use of reimbursement products is estimated to have decreased by ***%, and non-reimbursement products by ***% in 2022. More tightly-drawn criteria of indemnity medical insurances are regarded as one of the major factors for the decrease.

Intraocular lenses are divided into ***product groups in the National Health Insurance Therapeutic Materials List, and only accommodative IOLs are non-reimbursement lenses among them.

The total intraocular lens market by end-user type (medical institutions) can be divided into reimbursement products and non-reimbursement products. For reimbursement intraocular lenses, the amounts used are as follows: clinics (***units ***%), hospitals (***units ***%), tertiary hospitals (***units, ***%), general hospitals (***units ***%). On the other hand, for non-reimbursement intraocular lenses, the amounts used at hospitals are ***units (***%) and can be said as ***. Monofocal IOLs are mainly circulated for clinics with the implementation of the 7-DRG system, while multifocal IOLs are mainly distributed at hospitals.

As of June 2023, there are *** products of *** manufacturers/importers listed as reimbursement or non-reimbursement on the National Health Insurance Reimbursement and Non-Reimbursement Therapeutic Materials and Reimbursement Price Cap. Major suppliers of the intraocular lens market include Alcon, Johnson & Johnson Surgical Vision, Zeiss, and Hoya.

Multifocal intraocular lenses are high-margin products for IOL companies. The National Health Insurance classifies them as non-reimbursement products, and therefore, the suppliers have the discretion to determine the selling prices. The market share of the major multifocal intraocular lens suppliers is estimated as follows: around ***% for Alcon, around ***% for Johnson & Johnson Surgical Vision, and around ***% for Zeiss. The combined market share of the top two suppliers accounts for ***% of the entire market, and other suppliers are known to divide the remaining market.

As high-quality intraocular lens imports entered the domestic market in 2015, the multifocal intraocular lenses market began to form in earnest. In addition, awareness of multifocal intraocular lenses among healthcare providers and patients increased rapidly leading up to a bigger market for IOLs. The intraocular lens market is expected to continue to grow over the next five years with the following factors: the aging population, an increasing numbers of patients in their 40s and 50s diagnosed with early cataracts, and growing public awareness through TV advertisements.

Chapter 1 Introduction
   1.1 Purpose
   1.2 Suggestions for Best Use
   1.3 Scope
   1.4 Research Methods
      1.4.1 Desk Research
      1.4.2 Primary Research
   1.5 Analytic and Projection Methods of Market Size
      1.5.1 Data Sources
      1.5.2 Exchange Rate
      1.5.3 Market Size Estimation Methods

Chapter 2 Executive Summary

Chapter 3 Market Overview
   3.1 Market Size at Manufacturers/Importers' Initial Selling Prices
      3.1.1 Five-Year Forecast of Market Size
   3.2 Market Size at Medical Institutions' Purchase Prices
      3.2.1 Total Purchase Volume of Intraocular Lens
      3.2.2 Purchase Volume by Payment System
      3.2.3 Purchase Volume by End-User Type

Chapter 4 Major Suppliers
   4.1 Alcon
   4.2 Johnson & Johnson Surgical Vision
   4.3 Hoya
   4.4 Zeiss
   4.5 Bauschlomb
   4.6 Lucid Korea
   4.7 KoryoEyetech

Chapter 5 Market Dynamics
   5.1 Characteristics of Healthcare Market in Korea
      5.1.1 History and Characteristics of Cataract Surgery
      5.1.2 Change History of Payment Environment
      5.1.3 Determination Criteria for Reimbursement vs. Non-Reimbursement
      5.1.4 Characteristics of Domestic Manufacturers in Korea
   5.2 Key Indicators of Artificial Lens Market
      5.2.1 Aging Population
      5.2.2 Number of Cataract Patients
      5.2.3 Preoperative Tests
      5.2.4 Number of Cataract Surgical Cases
      5.2.5 Number of Cataract Surgeries by Payment Type
         5.2.5.1 Extracapsular or Intracapsular Cataract Extraction
         5.2.5.2 Phacoemulsification
         5.2.5.3 Posterior Capsular Opacification
         5.2.5.4 Pars Plana Lensectomy
         5.2.5.5 Intraocular Lens Implantation (Primary)
         5.2.5.6 Intraocular Lens Implantation (Secondary)
         5.2.5.7 Intraocular Lens Replacement
   5.3 Market Drivers
      5.3.1 Demand
   5.4 Market Opportunities
      5.4.1 Increasing Intraocular Lens Cases with Population Aging
      5.4.2 Increasing Number of Clinics Recommending Cataract Surgery
      5.4.3 Increasing Consumer Awareness of Intraocular Lens
   5.5 Market Restraints
      5.5.1 Changes in Indemnity Medical Insurance Coverage
   5.6 Unmet Needs

Appendix 1 Non-Reimbursement Intraocular Lens Price Range (As of 01 June 2023)
Appendix 2 Major Products Included in This Report for Market Estimation (As of 01 June 2023)

[Table 1] Classification of Intraocular Lens Approval
[Table 2] Market Size of Initial Selling Price 2018-2022 (in USD)
[Table 3] Five-Year Forecast of Market Size 2022-2026 (in USD)
[Table 4] Estimated Reimbursement Volume and Non-Reimbursement Volume 2018-2022
[Table 5] Five-Year Forecast of Reimbursement Volume and Non-Reimbursement Volume 2023-2027
[Table 6] Number of Intraocular Lens Product Approval (as of 13 March 2023)
[Table 7] Number of Intraocular Lenses on the List of National Health Insurance by Product Group (as of 1 June 2023)
[Table 8] Intraocular Lens exclusion amount by Disease Group
[Table 9] Reimbursement Price Cap Range of Each Intraocular Lens Product
[Table 10] Key Brand of Alcon - Acrysof IQ IOL
[Table 11] Key Brand of Alcon - PanOptix
[Table 12] Key Brand of Alcon - Vivity
[Table 13] Key Brand of Johnson & Johnson Surgical Vision - TECNIS Eyehance
[Table 14] Key Brand of Johnson & Johnson Surgical Vision - TECNIS Symfony
[Table 15] Key Brand of Hoya - Vivinex
[Table 16] Key Brand of Hoya - Nanex
[Table 17] Key Brand of Zeiss - LISA tri
[Table 18] Key Brand of Zeiss - LARA
[Table 19] Key Brand of Bauschlomb - enVista Toric
[Table 20] Key Brand of Lucid Korea - Acuflex
[Table 21] Key Brand of KoyroEyetech - eyelike K-Flex Aspheric
[Table 22] Stages of Cataract Development
[Table 23] Cataract Surgery
[Table 24] Intraocular Lens exclusion amount by Disease Group
[Table 25] Ophthalmic Disease Screening and National Health Insurance
[Table 26] Change History of Payment Environment
[Table 27] Determination Criteria for Reimbursement vs. Non-Reimbursement
[Table 28] Percentage of Reimbursement and Non-Reimbursement Products on the List of National Health Insurance
[Table 29] Projection of Elderly Population over 65 Years Old 2022-2027
[Table 30] Number of Cataract Patients by Age Group 2018-2021
[Table 31] Reimbursement of Cataract Examination - IOL master (unilateral)
[Table 32] Current Status of Optical Coherence Tomography Angiography Treatment
[Table 33] Number of Cataract Surgeries and Patients
[Table 34] Cataract Surgery-Related 7-DRG Code
[Table 35] Cataract Surgery-Related FFS Code
[Table 36] Statistics of Intraocular Lens-Related 7-DRG & FFS Codes
[Table 37] Definitions and Characteristics of Cataract-Related FFS Code
[Table 38] Summary of Market Drivers
[Table 39] Number of Ophthalmologists 2018-2022
[Table 40] Cataract-Related Indemnity Medical Insurance Volume
[Table 41] Changes in Indemnity Medical Insurance Coverage in association with Changes in National Health Insurance

[Fig 1] Market Size of Initial Selling Price 2018-2022 (in USD)
[Fig 2] Market Size of Initial Selling Price by Product Approved 2022 (in USD)
[Fig 3] Amount of Product Approved at Initial Selling Price 2022
[Fig 4] Five-Year Forecast of Market Size 2022-2017 (in USD)
[Fig 5] Market Size at Hospital Acquisition Price 2022
[Fig 6] Market Size Forecast at Hospital Acquisition Price 2027
[Fig 7] Reimbursement and Non-Reimbursement Volume of Intraocular Lens 2022
[Fig 8] Estimated Number of Reimbursement and Non-Reimbursement Products Circulated 2018-2022
[Fig 9] Intraocular Lens Market Size by Payment System
[Fig 10] Reimbursement Volume of Intraocular Lens by End-User Type 2022
[Fig 11] Non-Reimbursement Volume of Intraocular Lens by End-User Type 2022
[Fig 12] Estimated Market Share of Multifocal Intraocular Lenses 2022

1 Alcon
2 Johnson & Johnson Surgical Vision
3 Hoya
4 Zeiss
5 Bauschlomb
6 Lucid Korea
7 KoryoEyetech