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Corneal Implants Market Expected to Achieve 7.4% CAGR by 2029: Growth Forecast Insights
Corneal Implants Market
How Large Will the Corneal Implants Market Size By 2025?
In recent times, the size of the corneal implants market has significantly increased. The market, which is projected to grow from $1.34 billion in 2024 to $1.43 billion in 2025, will do so at a compound annual growth rate (CAGR) of 6.4%. The escalating growth during the historical period can be associated with innovative surgical procedures, initial innovation in biomaterials, the advent of keratoplasty, heightened awareness of ocular conditions, and the groundbreaking contributions by surgeons.
How Big Is the Corneal Implants Market Size Expected to Grow by 2029?
Over the coming years, the corneal implants market is predicted to witness robust growth, estimated to reach "$1.9 billion in 2029 at a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this projected advancement in the forecast period are the advent of personalized medicine methodologies, improved accessibility and awareness, the development of innovative biomaterials, an increase in refractive surgeries, and a surging elderly population. Leading trends in the projected period encompass the development of minimally invasive procedures, the assistance and approval of regulatory bodies, enhanced education and accessibility, innovation in biomaterials, and a surge in refractive surgery.
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Which Key Market Drivers Powering Corneal Implants Market Expansion and Growth?
An increase in the occurrence of corneal disorders is predicted to drive the expansion of the corneal implant market. Corneal disorders are medical conditions affecting the cornea, which is the transparent, dome-like front surface of the eye, resulting in visual discomfort and impairment. The rising incidences of these disorders have sparked a higher demand for corneal implants, offering a range of alternatives to treat corneal irregularities, build corneal integrity, alleviate symptoms, and enhance vision. For instance, data from the Center for Disease Control (CDC), a US-based federal agency, in December 2022 indicates that in the United States, there were about 20.5 million cases of cataracts (a type of corneal disorder) among individuals aged over 40, representing about 17.2% of people in that age bracket. Moreover, this number is expected to rise beyond 30 million by 2028. Consequently, the increasing prevalence of corneal disorders is fuelling the growth of the corneal implant market.
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Which Fast-Growing Trends Are Poised to Disrupt the Corneal Implants Market?
Leading businesses in the corneal implants market are emphasizing the development of novel corneal reshaping solutions in order to improve vision correction and address a range of corneal conditions. These cutting-edge corneal reshaping techniques and apparatuses are intended to modify the cornea for improved eyesight and to treat refractive errors or corneal diseases. For instance, in June 2024, CorneaGen, a medical device company based in the United States, specializing in eliminating corneal blindness, introduced the groundbreaking Corneal Tissue Addition for Keratoplasty (CTAK). This is a revolutionary solution for corneal reshaping in keratoconic eyes. The unique CTAK technique involves augmenting the existing cornea with donor tissue rather than completely replacing it. The objective of this method is to reinstate the cornea's natural shape, thereby boosting optical clarity.
What Are the Emerging Segments in the Corneal Implants Market?
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
Subsegments:
1) By Artificial Corneal Implant: Keratoprosthesis, Artificial Cornea
2) By Human Corneal Implant: Donor Cornea, Preserved Cornea
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Who Are the Global Leaders in the Corneal Implants Market?
Major companies operating in the corneal implants market include 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., 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., Ocular Systems Inc., Moria SA, DORC International BV, Coroneo Pty Ltd, FCI Ophthalmics Inc.
Which are the Top Profitable Regional Markets for the Corneal Implants Industry?
North America was the largest region in the cornea implants market in 2024.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
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