Ocular Implant Market Detailed In New Research Report 2021 | Novartis AG, Pfizer Inc., Staar Surgical, Johnson & Johnson Services

Ocular implants are medical instruments that are designed to replace a damaged or missing visual organ to restore vision or to improve visual appearance. Ocular implants such as ocular prostheses are artificial eyes used by people to enhance facial lineaments damages, caused due to an eye disease, accident or trauma. During ocular prosthesis, artificial or glass eye is implanted in the place of absent natural eye following an evisceration, enucleation, or exenteration.

Market Dynamics

Key players are focused on various growth strategies such as mergers and acquisition, in order to gain competitive edge in the market. For instance, in March 2019, Alcon, a provider of eye care products and a division of Novartis, acquired PowerVision, Inc., a privately-held, U.S.-based medical device development company focused on creating fluid-based intraocular lens (IOLs) implants. PowerVision‘s fluid-based intraocular lens uses the eye’s natural accommodative response to provide near and intermediate vision, in addition to distance vision commonly provided by basic IOLs.

The global ocular implant market was valued at US$ 11,697.9million in 2020, and is expected to register a CAGR of 7.1% during the forecast period (2021 – 2027).

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Increasing number of new product launches by key players is expected to propel growth of the global ocular implant market

In July 2018, Alcon introduced intraocular lens (IOL) portfolio including, Clareon AutonoMe IOL and delivery system, which 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 is automated with CO2-powered delivery mechanism. Moreover, in June 2018, Molteno Ophthalmic introduced Molteno3 S-Series glaucoma implants at the 24th International Glaucoma Congress, held at Greece.

Furthermore, growing prevalence of corneal diseases is expected to boost the demand for ocular implants and thereby drive the market growth in the near future. For instance, according to the World Health Organization (WHO), corneal blindness is one of the major reasons behind visual deficiency after glaucoma, cataract, and age-related macular degeneration (AMD) and 4th cause of blindness globally (5.1%). Moreover, according to the same source, cornea disease affects around 30 million people the world, while around two million new cases of corneal dysfunction are diagnosed annually.

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Global Ocular Implant Market- Regional Analysis

Among regions, North America is expected to register significant growth in the global ocular implant market over the forecast period. This is owing to increasing initiatives by market players to expand their product portfolio in North American countries. For instance, in July 2018, Glaukos, a U.S.-based company, received the U.S. Food and Drug Administration (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 and is implanted alongside cataract surgeries to reduce intraocular pressure.

Furthermore, Asia Pacific is also expected witness significant growth during the global ocular implant market during the forecast period. This growth is attributed to high 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 collaborated to market innovative IOLs and surgical products developed in Italy and licensed in India by SIFI.

Europe is expected to exhibit significant growth rate, owing to growing product launches in European Union. For instance, in February 2019, Johnson & Johnson Vision introduced its TECNIS Eyhance IOL, which is 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

Global Ocular Implant Market - Competitive Landscape

Major companies 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.

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