The Global Intraocular Lens (IOLs) Market was valued at US$ 3.9 billion in 2021 and is set to witness a growth rate of ~5-6% in the next 5 years. Some of the main factors driving the global IOLs market are the increase in cataract procedures due to an ageing population, the switch from monofocal IOLs to premium IOLs/advanced technology IOLs, the steady growth of monofocal IOLs in line with the procedural market, and favorable reimbursement scenarios in certain key markets.

However, some of the key elements that are expected to hamper market expansion are comparatively higher pricing and limited/partial coverage of premium/advanced technology IOLs.