Intraocular Lens (IOL) Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Monofocal IOL, PC-IOL, Toric IOL, Phakic IOL, Adjustable IOL), By Material (Polymethylmethacrylate (PMMA), Silicone, and Hydrophobic Acrylate), By Distribution Channel (Hospitals, Ambulatory Surgery Centers, and Ophthalmology Centers), and Region Forecast 2020-2031

Intraocular lens (IOL) market size was valued at US$ 4.5 billion in 2024 and is projected to reach US$ 5.2 billion by 2031, growing at a significant CAGR of 2% from 2025-2031. Intraocular lens (IOL) are the medical devices that are implanted inside the eye during cataract surgery. They are artificial tiny lens used to replace the eye’s natural lens. The market are also used for a type of vision correction surgery, called as refractive lens exchange. Earlier, if the cataracts are removed in the surgery the patient had to wear very thick glasses since there was no device implanted in order to replace the focusing power of the eye.

The lens refracts the light rays that enter the eye, helping to see. If the patient has cataract, the lens becomes cloudy. The cataract surgery helps in the removal of the cloudy lens replacing it with clear intraocular lens (IOL) to improve the vision. Intraocular lenses (IOLs) are medical devices that are inserted into the eye to replace the natural lens in order to correct cataracts or refractive problems. The rapid growth of the geriatric population and associated eye disorders, rising prevalence of eye diseases and diabetes in the overall population around the world, technological advancements in intraocular lenses, and increasing government initiatives to control and treat cataract-related blindness are all factors driving this market forward. Companies' increasing focus on emerging markets, as well as a gradual transition toward newer technology, are providing considerable growth potential for intraocular lens manufacturers.

The table showcases the distribution of different intraocular lens (IOL) types. Monofocal lenses dominate the intraocular market with a substantial 57% share, which indicates their widespread preference and reliability, followed by the PC-IOL category with 24%.

The toric lenses account for a 10% share, highlighting the growing awareness and need for astigmatism correction. Phakic lenses, capturing 8% of the market, reflect their niche yet crucial role in refractive solutions for younger patients.

Key Developments:

• In October 2024, Bausch + Lomb Corporation announced that the U.S. Food and Drug Administration (FDA) approved the enVista® Envy™ full range of vision intraocular lens (IOL). Built on the widely used enVista IOL platform, this new lens provides a continuous range of vision with excellent dysphotopsia tolerance, enhancing patient outcomes.
• In August 2024, Rayner, a global manufacturer of cataract surgery products, announced the launch of the world's first spiral intraocular lens (IOL) designed with artificial intelligence: RayOne Galaxy and Galaxy Toric. Debuting at the ESCRS Congress in Barcelona, the launch coincides with Rayner’s 75th anniversary since pioneering the first IOL with Sir Harold Ridley in 1949. Continuing its legacy of innovation, Rayner collaborated with Dr. João Lyra from Brazil to develop this advanced full-range vision IOL.
• In March 2024, Alcon launched the Clareon Family of intraocular lenses (IOLs) in India, offering long-lasting clarity with minimal haze and SSNGs. The PanOptix IOL ensures spectacle independence with a 99.2% patient satisfaction rate, while the PanOptix Trifocal is the most widely implanted trifocal IOL globally. The Clareon Vivity IOL, with X-WAVE technology, provides extended vision and minimal visual disturbances, delivering monofocal-like certainty.
• In February 2024, Johnson & Johnson MedTech announced the availability of its TECNIS PureSee purely refractive presbyopia-correcting lens in the EMEA region. As a global leader in eye health, the company introduced the TECNIS PureSee IOL, which features a proprietary purely refractive design. This innovation provides uninterrupted, high-quality vision with best-in-category contrast and low-light performance, comparable to that of a monofocal IOL.