Corneal Surgery Devices Market by Abbott Medical Optics Inc., Bausch & Lomb, Inc., Alcon Laboratories Inc., Johnson & Johnson Private Limited till 2023

Global Corneal Surgery Devices Market - Competitive Dashboard

Some of the noteworthy market players profiled in the report by MRFR are KeraMED (Canada), Bausch & Lomb, Inc. (U.S.), Haag-Streit AG (Switzerland), Topcon Corporation (Japan), Johnson & Johnson Private Limited (U.S.), Cooper Vision (U.S.), Alcon Laboratories Inc. (Switzerland), Abbott Medical Optics Inc. (U.S.), Carl Zeiss Meditec AG (Germany), Ziemer Ophthalmic Systems AG (Switzerland), Essilor International S.A. (France), and, Nidek Co. Ltd. (Japan). The players endeavor to tap the opportunities such as research & development, clinical trials, collaborations, acquisitions, etc. to gain a more significant share in the market control.

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Global Corneal Surgery Devices Market - Insights

Corneal Surgery Devices are the devices used during the transplantation of cornea. Visual impairment can be caused due to genetic factors, diseases like diabetes and other infectious diseases and much more. According to WHO, 422 million people are suffering from diabetes globally and this number is increasing at the rate of 8.5%. According to American Academy of Ophthalmology, diabetes is responsible for causing visual complication in approximately 4.5 million Americans. An increasing number of surgical procedures and rising prevalence of diabetes and other diseases has promoted growth of the market.

Increasing aging population, introduction on advanced devices for treatment and increasing healthcare expenditure has also contributed in the growth of the market. Moreover, continuous developments and high advancement in the corneal surgery devices, increasing incidence of diabetes, and increasing number of corneal surgeries has provided fuel for the growth of the market. Whereas, high cost of treatment and risk of infection due to devices has hampered the growth of the market. The risk of infection is very high since the cornea has no blood vessels and it derives its nutrients from the aqueous humor. Thus, prophylaxis treatment is an important part of the treatment even if there is no infection.

Cornea rejection, occurs in about 20% of cases. Graft failure can also occur at any time after the cornea is transplanted, even years or decades later. These complications are the greatest barriers for the global corneal surgery market.

Global Corneal Surgery Market is expected to grow at a CAGR of 5.2% during forecasted period 2017-2023.

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Global Corneal Surgery Devices Market - Segmentation

Global Corneal Surgery Devices Market is segmented on the basis of devices types, into diagnostic devices, corneal surgery devices, vision care.

Diagnostic devices are further segmented into fundus cameras, keratometers, corneal topographer, ophthalmic ultrasound imaging systems and other.

On the basis of transplantation type, market is segmented into deep anterior lamellar keratoplasty, penetrating keratoplasty, and synthetic corneas and other. Synthetic corneas are further segmented into boston keratoprosthesis, alphacor, osteo-odonto-keratoprosthesis.

On the basis of procedures, they are segmented into pre-operative examination, penetrating keratoplasty, and lamellar keratoplasty

On the basis of end users, they are segmented into ophthalmic clinics, hospitals and other.

Global Corneal Surgery Devices Market - Regional Analysis

By region, the market is segmented into America, Europe, Asia Pacific, and, Middle East & Africa. The America segment is projected to dominate the market owing to factors like growing geriatric population, developments in the healthcare sector, the concentration of top-notch healthcare service providers, favorable reimbursement policies, etc. The major contributors in this segment are the U.S. and Canada due to the vast prevalence of good quality healthcare centers. The most significant contributor of the segment, the U.S., alone witnesses over 40,000 corneal transplants every year which is fueling the growth of the market coupled with rising buying power of the consumers and economies of scale due to the concentration of prominent hospitals. The Europe segment holds the second position in the global market owing to factors such as expanding penetration of healthcare sector, increasing number of ophthalmic clinics, growing healthcare industry, etc. The major contributors in this segment will be Germany and France, with France leading the market owing to the presence of established pharmaceutical industry.

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The Asia Pacific segment will exhibit the highest growth which can be attributed to factors such as standardized medical tourism, increasing prevalence of ophthalmic diseases, availability of better healthcare facilities, growing penetration of healthcare sector in the region, etc. The markets in India, China, and, Malaysia are expected to thrive with India and China leading the Asia Pacific segment across the forecast period.

Gulf nations such as Saudi Arabia and the UAE will be driving the growth of the market in Middle East & Africa segment. Other Middle East nations that will contribute towards the market growth are Kuwait, Jordan, Egypt, and, Iran. The African segment will witness a poor growth owing to weak economic and political conditions, and, underdeveloped healthcare sector. Other regions in this segment are expected to be laggards due to the poor social development and tribal inhabitations in areas such as sub-Saharan Africa.

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