South Korea Intraocular Lenses Market By Type

Growth Outlook

• The South Korea Intraocular Lenses Market By Type market is on a steady long-term growth path. Segment value stands at roughly USD 125 Mn in 2026 and is projected to reach USD 132 Mn by 2027 — a gain of about 6% over the forecast period, translating to a CAGR in the mid-single digits.
• What the regional split looks like (2026): Traditional/Monofocal IOLs leads, holding roughly 58% of segment value — the single largest regional share. Multifocal IOLs is the second-largest contributor. Toric, Extended Depth-Of-Focus (EDoF) IOLs , Accommodating IOLs and Phakic IOLs make up the remainder, in descending order.
• By 2027, Traditional/Monofocal IOLs alone is expected to reach USD 77 Mn, with Multifocal IOLs at USD 25 Mn.

Market Dynamics

South Korea is one of the leading countries in terms of technological advancements and innovation, particularly in the field of healthcare. The country has been at the forefront of developing and providing advanced medical treatments and devices, including intraocular lenses (IOLs). These are artificial lenses that are implanted into the eye to replace the natural lens and improve visual acuity in patients with cataracts or other vision disorders.

One of the main factors driving the demand for IOLs in South Korea is the country's aging population. As of 2021, South Korea has a significantly high proportion of elderly population, with individuals over the age of 65 accounting for nearly 15% of the total population. This demographic is more susceptible to age-related vision problems such as cataracts, making the demand for IOLs to be on the rise.

Moreover, South Korea has a well-developed healthcare system that is highly focused on providing quality and accessible healthcare to its citizens. The government has implemented various policies and initiatives to promote the use of advanced medical devices, including IOLs. This has further fueled the demand for IOLs in the country.

Another factor contributing to the demand for IOLs in South Korea is the growing prevalence of lifestyle-related diseases, such as diabetes. Diabetic patients are more prone to developing cataracts, thus increasing the demand for IOLs to improve their vision.

In addition, the preference for cosmetic and refractive surgeries has also boosted the demand for IOLs in South Korea. The country is known for its high beauty standards, and many people opt for refractive surgeries, such as LASIK, to correct their vision. These surgeries often involve the use of IOLs, resulting in an increase in the demand for these devices.

Furthermore, South Korea is home to several renowned ophthalmic clinics and hospitals, which attract patients from across the world for their advanced treatments and facilities. This also contributes to the demand for IOLs, as these institutions use the latest and most advanced devices to provide optimal care to their patients.

In conclusion, the demand for IOLs in South Korea is driven by factors such as the aging population, advanced healthcare system, rising prevalence of lifestyle diseases, and the preference for cosmetic and refractive surgeries. With the continuous advancements in technology and increasing awareness about the benefits of IOLs, the demand for these devices is expected to further grow in the coming years.