Industry News: Corneal Implants Market Size Highlighting Recent Trends and Forthcoming Developments 2025 Forecast Report
Asia-Pacific corneal implants market is expected to grow at 8% during analysis timeframe. Countries such as China, Japan and India have high prevalence of eye diseases as majority of the population suffers from diabetes that affects the vision. Moreover, people in these countries are becoming aware regarding availability of superior quality artificial corneal transplants that should trigger the regional market growth in coming years.
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Artificial corneal implants segment witnessed around 10% CAGR throughout the analysis period. Recently developed artificial corneal implants are considered as a substitute for patients that cannot tolerate human donor cornea. According to Cornea Research Foundation of America, around 10 million people suffer from corneal blindness globally out of which only 100,000 corneal implant procedures get access to human donor tissue. Thus, crisis of human donor tissue has boosted the demand for artificial corneal implants, thereby escalating the segment growth.
Eye clinics segment was valued over USD 49 million in 2018 and is projected to have significant growth throughout the analysis timeframe. Eye clinics have expertise that help in diagnosing the eye disease. However, some of these clinics are not self-sufficient to perform surgeries and non-invasive transplant procedures due to budget constraints. Physicians and eye specialists working at eye clinics refer patients to hospitals that are well-equipped and perform surgical procedures.
Growing elderly population base in developed economies is one of the major factors driving industry growth as majority of them suffer from eye disorders. According to National Eye Institute, around 2.1 million elderly Americans have age-related macular degeneration. In countries such as the U.S. and Germany, geriatric population suffering from diabetes has high prevalence of diabetic retinopathy. This scenario proves beneficial for corneal implants market growth as it substantially augments demand of corneal implants. However, shortage of human donor material will affect the industry growth to some extent in coming years.
Penetrating keratoplasty segment accounted for 47% in 2018. Demand for penetrating keratoplasty is projected to grow gradually in the near future. This procedure is completed in one or two hours and performed on outpatient basis. Thus, patients are able to resume to daily activities in few hours. As recovery time is less its demand is expected to grow over forecast period. Also, plastic shield utilized in these procedures protects eye and enhances healing process that further propels its demand.
Corneal Implants Market will exceed USD 500 million by 2025; as per a new research report. Increasing demand for minimally invasive eye surgical procedures globally has positively influenced corneal implants industry growth during forecast years. Conventional treatment options for corneal diseases have proven to be risky due to complexity involved. To cater to this problem, researchers have developed innovative techniques that involves placing of donor tissue from second layer of cornea. Newly introduced techniques of corneal implants strengthened and flattened the cornea thereby, improving eye sight of the patients suffering from keratoconus. As recently manufactured artificial corneal implants are utilized in these minimally invasive procedures, the corneal implants industry will offer numerous growth opportunities.
North America corneal implants market held over 60% revenue share in 2018. Considerable regional market share can be attributed to the huge geriatric population suffering from eye diseases and requiring corneal transplant treatment. Favorable demographic trends coupled with supportive regulatory scenario for corneal implants should elevate regional market growth. Also, people suffering from keratoconus and Fuchs’ Dystrophy have immense preference for minimally invasive corneal transplant procedures that proves beneficial for the regional market growth.
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Prominent market players operating in the corneal implants market include Alabama Eye Bank, Alcon, Florida Lions Eye Bank, Presbia, San Diego Eye Bank, CorNeat Vision, Aurolab, DIPOTEX, AJL Ophthalmic SA (Intacs), KeraMed and Massachusetts Eye and Ear. Due to intense competition, these industry players implement inorganic growth strategies such as acquisitions and mergers that helps them in gaining substantial market share. For instance, in March 2019, Alcon Inc., acquired PowerVision, Inc., a U.S. based medical device company involved in development of fluid-based intraocular lens implants. This strategy aims to develop innovative and accommodating lens for cataract patients across the world.
Table of Content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Corneal Implants Industry Insights
Chapter 4. Corneal Implants Market, By Tissue Type
Chapter 5. Corneal Implants Market, By Transplant Type
Chapter 6. Corneal Implants Market, By Condition
Chapter 7. Corneal Implants Market, By End-use
Chapter 8. company Profile
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Global Corneal Implants Market Insights, Forecast to 2025
This report studies the global market size of Corneal Implants in key regions like North America, Europe, Asia Pacific, Central & South America and Middle East & Africa, focuses on the consumption of Corneal Implants in these regions. This research report categorizes the global Corneal Implants market by top players/brands, region, type and end user. This report also studies the global Corneal Implants market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels and distributors.
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