Artificial Iris Market 2022 Growth Is Attributed To The Increasing Demand For Blue Color

According to Precision Business Insights (PBI) latest report, the artificial iris market is expected to be worth USD 15.7 Million in 2022, growing at a 9.7% CAGR from 2022 to 2028. The FDA's approval of the first artificial iris implant in the U.S. is expected to be one of the significant factors propelling the growth of the artificial iris market, along with the rising number of clinical trials in the U.S. examining the use of artificial iris implants to treat a variety of eye defects. The use of artificial iris implants is expanding as the number of iris defects rises. The market is driven by the growing elderly population and eye problems brought on by aging.

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Blue Color Segment to Dominate the Artificial Iris Market:
The blue color segment is expected to account for a larger revenue share in the global artificial iris market, with a value share worldwide. It is projected to grow at a 10.1% CAGR between 2022 and 2028. People who have cosmetic surgery seem to prefer this iris color more. Due to the increase in cosmetic treatments performed worldwide, this market segment is anticipated to be quite promising during the forecast period.

Europe Artificial Iris Market:
The Europe market is expected to increase in the global artificial iris market over the forecast period. It is projected to grow at a CAGR of 10.3% in the coming years. Due to a higher number of artificial iris implant surgeries, significant businesses, consumer preference for cosmetic eye color alteration treatments, and the long-standing availability of artificial iris implants, Europe has led the worldwide artificial iris market. According to a Healthline Media report, Europeans have the most extensive range of eye hues. Their eyes range from light blue to dark brown and typically have the palest eye hues.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global artificial iris market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The artificial iris market is segmented based on material, age, color, application, end user, and geography.
Based on the material, the market is segmented into the following:
• Fiber
• Fiber Free

Based on the age group, the market is segmented into the following:
• Adult
• Pediatric

Based on the color, the market is segmented into the following:
• Blue
• Brown
• Others

Based on the application, the market is segmented into the following:
• Therapeutic
• Cosmetic

Based on the end user, the market is segmented into the following:
• Hospitals
• Specialty Clinics
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the artificial iris market report are HumanOptics AG, Morcher GmbH, Ophtec BV, EyeYon Medical, Spectrum Surgical, Reper-NN Ltd., VEO Ophthalmics, LLC., and Pixium Vision.

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