Ocular Implants Market To Reach $17,279.4 Million by 2030

The major drivers in the global ocular implants market are rising investments in R&D of innovative products, rising geriatric population, surging awareness of comprehensive eye care services, and increasing incidence of ophthalmologic illnesses, including age-related macular degeneration (AMD) and glaucoma. In 2021, the market was valued at $10,079.7 million, and it is predicted to touch $17,279.4 million by 2030. It will grow at an approximately 6% CAGR from 2021 to 2030. However, the outbreak of COVID-19 in 2020 had imposed lockdowns on, postponing the elective surgeries. But the market will recover soon in the coming years.

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Within the product segment, the intraocular lenses category will rule the market in 2021, accounting for at least 45% of the total ocular implants market share. This can be ascribed to the snowballing demand for intraocular lenses for the treatment of presbyopia, farsightedness, and nearsightedness. Furthermore, the count of cataract surgery patients has more than tripled. This goes hand in hand with a surging requirement for these lenses in the coming years. In addition, rising awareness and technological deployment in the emerging economies will propel growth in this market category.

Moreover, the glaucoma Implants will exhibit significant growth in the forecast period. This can be credited to the extensive support of private corporations and government, coupled with the advancement of glaucoma-implanted devices. Therefore, all of this will together push the glaucoma awareness among the people. For example, an optical medical technology and pharmaceutical firm named Glaukos Corporation developed various initiatives that cater to the requirements of patients in March 2021. World Glaucoma Week is observed every year to raise awareness regarding the incidence and threats associated with glaucoma.

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Geographically, APAC will witness the highest CAGR, of at least 6%, in the ocular implants market from 2021 to 2030. This is because of the rising geriatric population, who are prone to critical vision ailments and chronic illnesses. Additionally, vision impairment can be a result of ocular diseases. to deal with the rising incidence of chronic eye ailments, the APAC offers suitable patient demographics, wider inclusion of technologically advanced devices, and enhanced healthcare infrastructure.

Therefore, skyrocketing elderly population levels, coupled with the rising prevalence of chronic eye ailments will augment growth in the market.

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