Global Intraocular Lens Market Set to Exceed USD 9.3 Billion by 2031 Driven by Cataract Demand and Vision-Correcting Innovations

[London, 25 June 2025] – Clearview Market Insights (CVMI) reports that the global intraocular lens (IOL) market is projected to grow from USD 5.2 billion in 2024 to USD 9.3 billion by 2031, achieving a CAGR of 8.3%. This growth is driven by increasing volumes of cataract surgeries, a rising demand for refractive correction, and advancements in lens material technologies.

“Premium IOLs are no longer a luxury—they’re becoming the standard for vision correction and lifestyle enhancement,” said Dr. Karen Menon, senior ophsthalmology analyst at CVMI.

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Key Market Metrics

• 2024 Market Value: USD 5.2 billion
• 2031 Forecast: USD 9.3 billion
• CAGR: 8.3% (2024–2031)

Growth Catalysts

• Aging Population Surge: Cataract-related procedures growing across all continents
• Patient-Centered Lens Design: Multifocal and EDOF IOLs meet high visual expectations
• Emerging Market Expansion: Government cataract programs in India, Indonesia, and Brazil

Segment Highlights

• Top Segment: Monofocal IOLs continue to lead in volume, thanks to their lower costs and reimbursement alignment.
• Fastest-Growing Segment: EDOF and trifocal lenses are gaining favor in elective and premium markets.
• Primary settings: ASCs and ophthalmic clinics are experiencing increased procedural efficiency.

Competitive Overview (2024)

• Alcon – 38%: Industry leader with broad IOL spectrum
• Johnson & Johnson Vision – 25%: Refractive-focused platforms
• Bausch + Lomb – 14%: Strong base in traditional and toric lenses
• Carl Zeiss Meditec – 10%: Precision trifocal and toric systems
• Others – 13%: Custom solutions and regional expansion

Outlook Through 2031

The IOL market is transitioning toward dynamic, light-adjustable lenses and AI-integrated IOL planning tools. Patient outcomes, affordability, and regional customization will shape the next era of global ophthalmic innovation.

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