Ocular Implant Market to Perceive Substantial Growth During 2018–2026 By Top Companies Novartis AG, Pfizer, Staar Surgical, Johnson & Johnson Services, Bausch & Lomb Incorporated., Morcher GmbH, OSD Medical GmbH
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Increasing product launches for different types ocular implants that are widely used in ophthalmic surgery to correct ophthalmic deformities is expected to drive global ocular implant market growth. For instance, in February 2019, EyePoint Pharmaceuticals, Inc. launched its YUTIQ in the U.S. YUTIQ is three-year intravitreal micro-insert for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye. The product was approved by U.S. FDA in October 2018.
Moreover, increasing prevalence of ocular dysfunction and disorder is expected to drive growth of the global ocular implant market. For instance, in January 2019, according to Glaucoma research foundation, currently, there are over 3 million people in the U.S. that have been diagnosed with glaucoma. The National Eye Institute projects that this number will be increased by 58% and expected to reach 4.2 million by 2030.
Increasing number of product launches is expected to drive growth of the global ocular implant market
In July 2018, Alcon launched its intraocular lens (IOL) portfolio including, Clareon AutonoMe IOL and delivery system, designed to provide easy and intuitive control during cataract surgery, at the Alcon-hosted Synergeyes clinical symposium in Sydney. AutonoMe is the first and only automated, disposable, preloaded IOL delivery system preloaded with the Clareon IOL, and it is automated with CO2-powered delivery mechanism. Moreover, in June 2018, Molteno Ophthalmic launched its Molteno3 S-Series glaucoma implants at the 24th Greek Glaucoma.
Global Ocular Implant Market - Competitive Landscape
Key players operating in the global ocular implant market include Novartis AG, Pfizer Inc., Staar Surgical, Johnson & Johnson Services, Inc., Bausch & Lomb Incorporated., Morcher GmbH, OSD Medical GmbH, Ophtec BV, and ZEISS International.
Global Ocular Implant Market- Regional Analysis
North America is expected to witness lucrative growth of ocular implant market, owing to growing initiatives by market players to establish its product portfolio in North American countries. For instance, in July 2018, Glaukos, based in San Clemente, California, received U.S. FDA approval for its iStent inject Trabecular Micro-Bypass System to launch in the U.S. The novel device is designed to treat mild to moderate primary open-angle glaucoma, is implanted alongside cataract surgeries to reduce intraocular pressure.
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Asia Pacific is also expected to drive growth of the global ocular implant market, owing to presence of key players in this region. For instance, in May 2019, SIFI, the Italian developer of therapeutic solutions to treat ophthalmic disorders, and Zydus Cadila have been entered into strategic collaboration to market innovative IOLs and surgical products developed in Italy and licensed in India by SIFI.
Europe is expected to show significant growth rate, owing to increasing number of product launches in European Union. For instance, in February 2019, Johnson & Johnson Vision launched its TECNIS Eyhance IOL, indicated for the treatment of cataracts, in Europe. This next-generation monofocal intraocular lens (IOL) helps patients to experience high-quality vision at both intermediate and far distances.
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