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Corneal Implants Global Market Report 2024 - By Demand, Size, Share, Report, Forecast To 2033
Corneal Implants Market
Corneal Implants Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.77 billion In 2028 At A CAGR Of 6.5% :
The corneal implants market size has grown strongly in recent years. It will grow from $1.28 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to pioneering surgical techniques, early biomaterial innovation, emergence of keratoplasty, rising awareness of eye disorders, pioneering surgeons' contributions.
The corneal implants market size is expected to see strong growth in the next few years. It will grow to $1.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to personalized medicine approaches, greater accessibility and awareness, innovative biomaterials development, rise in refractive surgeries, growing aging population. Major trends in the forecast period include emergence of minimally invasive techniques, regulatory support and approvals, increased awareness and accessibility, innovation in biomaterials, rise in refractive surgery.
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Corneal Implants Market Major Segments
The corneal implants market covered in this report is segmented -
1) By Implant Type: Artificial Corneal Implant, Human Corneal Implant
2) By Procedure Type: Endothelial Keratoplasty, Penetrating Keratoplasty, Other Procedure Types
3) By Application: Keratoconus, Fuchs Dystrophy, Infectious Keratitis, Corneal Ulcers, Other Applications
4) By End-User: Hospitals, Ophthalmic Center, Other End-Users
Key Driver - Surging Prevalence Of Corneal Disorders Fuels Growth In The Corneal Implant Market
The surge in the prevalence of corneal disorders is expected to propel the growth of the corneal implant market going forward. Corneal disorders refer to a group of medical conditions that affect the cornea, a clear, dome-shaped front surface of the eye, and result in visual impairment and discomfort. A growing number of corneal disorders has created a surge in demand for corneal implants, providing various alternatives to treat corneal abnormalities, enhancing corneal integrity, reducing symptoms, and improving vision. For instance, in December 2022, according to the Center for Disease Control (CDC), a US-based federal agency, in the United States, the prevalence of cataracts (a corneal disorder) among individuals aged over 40 is estimated to be around 20.5 million, representing approximately 17.2% of the population in that age group. Further, it is estimated to exceed 30 million by the year 2028. Therefore, the surge in the prevalence of corneal disorders is driving the growth of the corneal implant market.
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Prominent Trend - Innovative Advancements In The Corneal Implants Market
Major companies operating in the corneal implants market are developing innovative products such as synthetic corneal implants to meet larger customer bases, more sales, and increase revenue. A synthetic corneal implant is an artificial device designed to replace or repair damaged or diseased portions of the cornea-the transparent front part of the eye that covers the iris, pupil, and anterior chamber. For instance, in June 2021, EyeYon Medical, an Israel-based medical ophthalmic devices company, announced the CE mark and FDA approval for EndoArt. Distinguished as the inaugural synthetic corneal implant crafted to combat corneal edema, EndoArt presents a secure and minimally invasive solution. Engineered to affix to the posterior corneal surface, this innovative implant serves as a replacement for non-functioning endothelium. Its exceptional quality lies in its ability to enhance visual acuity for individuals awaiting corneal tissue transplants. Moreover, in instances of transient edema, EndoArt stands out by potentially obviating the necessity for transplantation altogether.
Corneal Implants Market Players
Major companies operating in the corneal implants market report are Florida Lions Eye Bank Inc., Alcon Inc., Aurolab Aravind Eye Care System, CorneaGen, AJL Ophthalmic SA, DIOPTEX Co. Ltd., KeraMed Inc., Alabama Eye Bank Inc., Presbia Plc, CorNeat Vision Ltd., MediPhacos, EyeYon Medical Ltd., Linkocare Life Sciences AB, Price Vision Group, Cornea Biosciences LLC, Massachusetts Eye and Ear Infirmary, Carl Zeiss Meditec AG, Precise Bio Inc., Bausch & Lomb Incorporated, Johnson & Johnson Vision, Abbott Medical Optics Inc., STAAR Surgical Company, ZEISS Group, Hoya Corporation, Rayner Intraocular Lenses Limited, HumanOptics AG, Morcher GmbH, Lenstec Inc., Hanita Lenses R.C.A Ltd., Omni Lens Pvt. Ltd., Ocular Systems Inc., Moria SA, DORC International BV, Coroneo Pty Ltd, FCI Ophthalmics Inc.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the cornea implants market in 2023. Asia Pacific is expected to be the fastest-growing region in the global cornea implants market during the forecast period. The regions covered in the corneal implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Corneal Implants Market Report Structure
3. Corneal Implants Market Trends And Strategies
4. Corneal Implants Market - Macro Economic Scenario
5. Corneal Implants Market Size And Growth
…..
27. Corneal Implants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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