Intraocular Lens Market Size & Share Analysis – Industry Report on Growth Trends & Forecasts (2025 - 2030)

Intraocular Lens Market Analysis

The Intraocular Lens Market size is estimated at USD 6.89 billion in 2025, and is expected to reach USD 9.50 billion by 2030, at a CAGR of 6.63% during the forecast period (2025-2030). The market growth is primarily driven by the increasing incidence of eye-related disorders, enhanced government support for individuals with visual impairments, and advancements in intraocular lens technology.

The high burden of ophthalmic disorders is likely to drive the demand in the intraocular lens market. For instance, a study published in the British Journal of Ophthalmology in August 2024 mentioned a steady rise in the prevalence of myopia globally, reaching 35.81% in 2023, and projections indicated that this prevalence may reach 36.59% by 2040 and 39.80% by 2050. Additionally, the data published by the Saudi Arabia Ministry of Health in January 2023 mentioned that more than 60 million people worldwide are suspected to have glaucoma in 2023. Therefore, due to the rise in ophthalmic problems and eye diseases such as glaucoma and myopia, the demand for intraocular lenses is expected to grow during the forecast period.

Moreover, raising awareness about eye diseases and their associated complications is expected to enhance the adoption of intraocular lenses. For instance, in November 2024, the Strengthening Provision of Eye Care Services (SPECS) 2030 project by the World Health Organization (WHO) in Assam, India, aimed to address refractive errors, enhancing vision for millions around the world. Additionally, in October 2024, the Kisima Health Center in Samburu County, Kenya, introduced an initiative for a pioneering project focused on improving eye health in the local villages. Twenty-seven community health volunteers took part in the inaugural session of the vision screeners training initiative. They explored topics such as eye health, anatomy, prevalent eye conditions, and available treatment options. Thus, such government initiatives are expected to drive market growth.

Overall, intraocular lens market analysis shows thatdue to the growing prevalence of ophthalmic problems and eye diseases as well as government initiatives implemented to increase awareness, the demand for intraocular lenses is anticipated to grow during 2024 to 2029. However, the rising costs of intraocular lenses and inadequate reimbursement coverage will likely hinder market growth during the forecast period.

Intraocular Lens Market Trends and Insights

The Monofocal Intraocular Lens Segment is Anticipated to Grow Significantly as per this Market Forecast

The monofocal segment is anticipated to grow with a CAGR of 6.83% during the forecast period from 2024-2029. An insight from this intraocular lens market analysis estimates the market value for monofocal segment at USD 0.39 billion in 2024 and forecasts it to reach USD 0.53 billion by 2029.

A monofocal intraocular lens is designed to have a fixed focal point at a single distance. This lens directs light that passes through the cornea and pupils onto the retina. It possesses uniform power across its entire surface, creating one distinct area of clear vision, which allows for outstanding sight from a specified distance.

The efficacy and advancements of monofocal intraocular lenses are expected to boost its adoption and thus contribute to market growth. For instance, an article published in Scientific Reports in October 2024, mentioned that the upgraded monofocal IOL (Tecnis Eyhance ICB00) led to better intermediate visual results, reaching comparable distance vision acuity and similar contrast sensitivity as the conventional monofocal IOL (Tecnis PCB00). This type of IOL may be an alternative to traditional monofocal IOLs when considering combined phacovitrectomy for patients with photoreceptor-preserving epiretinal membranes (ERM). Thus, due to a range of advantages of advanced monofocal intraocular lenses, they are likely to be adopted more and consistently, boosting the market growth.

Initiatives by market leaders and industry players like product launches and collaborations for the development of innovative monofocal intraocular lenses, also help propel the segment growth. For instance, in September 2024, BVI introduced its innovations: the SERENITY and SERENITY Toric premium monofocal intraocular lenses (IOLs). These non-diffractive, aspheric IOLs represent the second generation of BVI's groundbreaking ISOPURE series, featured with patented ISOFOCAL optic technology that harmoniously balances depth of focus (DoF) with image quality. Additionally, in October 2023, AffaMed Technologies and SIFI S.p.A. secured a licensing agreement in which AffaMed gained exclusive rights to manufacture, develop, and commercialize EVOLUX, an innovative extended monofocal intraocular lens (IOL) in the Greater China region. Overall, with increasing eye problems and a surge in product launches, the demand for mono-focal intraocular lenses is expected to rise, and the segment is expected to expand during the forecast period.

Cataract Surgery segment is anticipated to Occupy the Largest Market share in the Intraocular Lenses Market

By application segment, the cataract surgery segment is anticipated to secure the largest market share, with a CAGR of 4.9% throughout 2024 to 2029, and is expected to reach USD 2.71 billion by 2029. The increasing cataract surgeries, leading to a greater demand for IOLs or cataract lenses, thus fuelling the segment growth.

For instance, For instance, an article published by Alcon in June 2023, mentioned that cataract extraction and lens replacement are the most commonly performed surgeries, with almost 30 million cataract surgery procedures occurring worldwide annually. As a result, this booststhe demand for cataract lenses or IOLs to combat the need for cataract surgeries. . Thus, the cataract surgery segment is expected to grow significantly during the forecast period.

The intraocular lens market is segmented by product, application and,end user. By product, the market is segmented into monofocal intraocular lens, accommodative intraocular lens, multifocal intraocular lens, and toric intraocular lens. By application, the market is segmented into cataract, presbyopia, corneal disorder, and other applications. By end user, the market is segmented into hospitals, ambulatory centers, and other end users. The other end users include eye clinics, educational institutions, and specialized centers. Ambulatory surgery centers specializing in ophthalmology are projected to experience substantial growth in the coming years due to growing preference for these facilities for eye surgeries and the increasing establishment of such centers in developed countries.

North America is Projected to Experience Largest Market Growth Throughout the Forecast Period

The North American market is expected to capture a substantial intraocular lens market share, with forecasts suggesting a value of USD 2.27 billion in 2024, rising to USD 3.04 billion by 2029. The intraocular lens industry in North America is projected to grow during the forecast period due to various factors, including a rise in vision-related disorders, a strong uptake of innovative technologies and products in the healthcare industry, and an increase in the usage of intraocular lenses throughout the region.

The growing occurrence of cataract conditions, including age-related and congenital cataracts, is expected to drive market growth in North America during the forecast period. For instance, the data updated by the Centers for Disease Control and Prevention (CDC) in May 2024 mentioned that around 12 million individuals aged 40 and older in the United States experience vision impairment. Additionally, the data published by the Canadian Association of Optometrists in March 2023, mentioned that glaucoma is ranked among the primary causes of blindness, impacting over 450,000 Canadians. In addition, an article published in the Canadian Medical Association Journal in April 2023 mentioned that there is a projected need for a 128% increase in cataract surgery over the next 25 years to meet the population demand in Ontario, Canada. Thus, a significant population affected by vision impairment is likely to boost the demand for intraocular lenses and, hence, drive market growth.

Initiatives by market players , such as product launches, are expected to boost regional market growth. For instance, in September 2024, Johnson & Johnson expanded its latest advancement in presbyopia-correcting intraocular lenses (PC-IOL), known as TECNIS Odyssey, in the United States. This new full visual range IOL provides patients with an exceptional continuous range of vision, allowing them to see clearly at all distances - from far to near and everything in between - thereby reducing their reliance on glasses. Additionally, in November 2023, Alcon Inc. introduced Clareon Vivity in Canada, a non-diffractive extended depth of focus (EDOF) intraocular lens (IOL) available on Alcon's lens platform aimed at patients who desire a seamless and comprehensive range of vision. Clareon Vivity utilizes a wavefront shaping optic principle, known as X-WAVE technology, to enhance the depth of focus while offering a visual disturbance profile similar to that of a mono-focal lens. Thus, such product launches with innovations by the market players is likely to drive the market growth in the region.

Overall, the high burden of vision-related disorders, the existence of significant market players, and a rise in product launches within the country are anticipated to propel market growth in North America.

By geography, the global market is segmented into North America (United States, Canada, Mexico), Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Middle East and Africa (GCC, South Africa, Rest of Middle East and Africa), and South America (Brazil, Argentina, Rest of South America). The Middle East and Africa as well as Asia-Pacific regions, particularly countries such as China, Japan, and India, are experiencing rapid growth driven by the rising prevalence of eye diseases, the increasing aging population, and the presence of local manufacturers producing IOLs.