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Corneal Implants Market Size - By Type (Human Cornea, Artificial Cornea), By Surgery Method (Penetrating Keratoplasty, Endothelial Keratoplasty), By Application (Keratoconus, Fuchs Dystrophy, Infectious Keratitis, Corneal Ulcers) and By Region: Global Forecast, 2024 – 2033

  • PUBLISHED ON
  • 2023-12-14
  • NO OF PAGES
  • 235
  • CATEGORY
  • Healthcare & Life Sciences

Market Overview

Corneal Implants Market Size is projected to achieve a value of USD 530 Million in 2023, with a linear behavior in the market growth it is forecasted to achieve a value of USD 823 Million by 2033 with a CAGR of 6.2% during the forecast period 2024-2033.

 

SOURCE: We Market Research

A small device called a corneal implant, sometimes referred to as a corneal inlay or insert, is surgically inserted into the cornea, the transparent outermost layer of the Eye. These implants are intended to lessen the need for reading glasses or to treat specific vision issues like presbyopia, an age-related impairment involving difficulties concentrating on close objects. These implants, which are usually composed of biocompatible materials like polymers, improve near vision without impairing distant vision by changing the way light enters the eye. For those undergoing age-related vision changes, they provide better visual acuity as an alternative to conventional corrective lenses.

A number of important reasons are driving the corneal implants industry. Adoption rates are increased by technological advances in implant design and materials that provide improved safety and efficacy. The aging population and the increasing incidence of vision problems like presbyopia also have a major impact on market growth. Furthermore, the market is being driven by the increasing need for less invasive procedures and a decrease in the need for corrective lenses. Moreover, enhanced healthcare facilities together with growing consumer knowledge of vision correction choices encourage market growth. The market for corneal implants is expected to increase significantly and become widely accepted in ophthalmic care as a result of these factor’s combined promotion of accessibility and innovation.

Market Scope

Report Attributes

Description

Market Size in 2023

USD 530 Million

Market Forecast in 2033

USD 823 Million

CAGR % 2024-2033

6.2%

Base Year

2023

Historic Data

2016-2022

Forecast Period

2024-2033

Report USP

 

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Growth Drivers

Increasing Incidence of Corneal Diseases

Global Increase in Surgical Procedures

Patient Preferences for Minimally Invasive Procedures

Segments Covered

By Type, By Surgery Method, By Application and By Region

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Corneal Implants Industry: Drivers & Restrains

Market Drivers

Increasing Prevalence of Eye Disorders- The primary driver of the corneal implants market is the rising incidence of eye illnesses such keratoconus and corneal abnormalities. The need for efficient vision correction methods grows as these conditions spread more widely. For those with these particular eye conditions, corneal implants provide a good therapeutic alternative that improves stability and visual acuity. In addition to increasing the demand for creative solutions, the rise in eye illnesses stimulates research that advances implant technology and expands the market for these specialist vision correction therapies.

Growing awareness about corneal implants and their benefits- The Corneal Implants Market is being driven by the increased awareness of these devices and the benefits they offer. Patients and medical professionals are becoming more aware of how well these implants work to cure different kinds of vision problems, which is leading more people to look into these options. Increased knowledge encourages a proactive approach to vision care, leading more people to investigate and choose corneal implants as a dependable option for treating eye disorders. This increase in demand stimulates research and innovation, which advances implant technologies and improves patient outcomes in addition to propelling market expansion.

Market Restrains

High Cost of Implants and Procedures- The Corneal Implants Market is severely constrained by the high cost of corneal implants and procedures. These costs cover a number of areas, including as the creation of customized implants, expert surgery, and recovery from the procedure. These expenses place a significant financial strain on patients and healthcare systems, restricting accessibility and affordability, particularly in underdeveloped areas. As a result, this financial barrier limits the market's potential for expansion and prevents widespread adoption. Reducing expenses via innovations in technology, optimizing manufacturing procedures, and enhancing the availability of reasonably priced medical remedies are essential to mitigate this limitation and broaden the scope of these revolutionary therapies.

Corneal Implants Segmentation

Market- By Type Analysis

By Type, the Corneal Implants Market is Categories into Human Cornea, Artificial Cornea. The Human Cornea segment accounts for the largest share of around 74% in 2022.

The market is dominated by the human cornea segment because, in comparison to their artificial equivalents, human corneal implants often have greater biocompatibility and lower rejection rates, making them the preferred option for many patients. Furthermore, despite developments in artificial corneas, surgeons continue to perform human corneal transplants because they have a longer history in the field and are more comfortable with it.

The following segments are part of an in-depth analysis of the global market for Parkinson's disease therapies:

Market Segments

 

By Surgery Method

·         Penetrating Keratoplasty

·         Endothelial Keratoplasty

By Application

·         Keratoconus

·         Fuchs Dystrophy

·         Infectious Keratitis

·         Corneal Ulcers

Corneal Implants Industry: Regional Analysis

North America Market Forecast

North America dominate the Corneal Implants Market with the highest revenue generating market with share of more than 46%. The North American corneal implants market is largely driven by a number of reasons, including the region's sophisticated healthcare system and inclination toward embracing new technologies, all of which have a substantial positive impact on the industry's growth. Moreover, the need for corneal implants is fueled by the increased prevalence of eye conditions such as keratoconus and Fuchs' dystrophy.

Europe Market Statistics

Europe is the second-largest market for Corneal Implants. Europe's corneal implant market is growing quickly for a variety of reasons, including due to population aging and greater susceptibility to eye-related illnesses, there is a large increase in the requirement for these implants. Additionally, the region's highly established healthcare systems and supportive government initiatives, such as funding for research and development, create a favorable climate for market expansion.

APAC Market Forecasts

Asia Pacific is expected to be the fastest-growing market for Corneal Implants during the forecast period. In the Asia-Pacific region, several drivers fuel the rapid growth of the corneal implants market. Increasing awareness about eye health, coupled with a growing disposable income in many developing countries, propels the adoption of these implants.

Key Market Players

The Corneal Implants Market is dominated by a few large companies, such as

·         Massachusetts Eye and Ear

·         Alcon Inc.

·         Presbia PLC

·         Aurolab

·         CorneaGen

·         Florida Lions Eye Bank

·         KeraMed, Inc.

·         DIOPTEX

·         AJL Ophthalmic S.A.

·         San Diego Eye Bank

Recent Developments:

·         2023, A well-liked treatment for patients with Fuchs' dystrophy, a condition in which endothelial cells degenerate, is descemet's membrane endothelial keratoplasty (DMEK), also known as partial-thickness corneal transplantation. By replacing the entire cornea with DMEK surgery, just the damaged inner layer is removed, which lowers the risk of transplant rejection and increases the chances of excellent vision.

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Corneal Implants Market in 2022?

Corneal Implants Market was valued at USD 425 Million in 2022.

What is the growth rate for the Corneal Implants Market?

Corneal Implants Market size will increase at approximate CAGR of 6.2% during the forecasted period.

Which are the top companies operating within the market?

Major companies operating within the Corneal Implants Market are Massachusetts Eye and Ear, Alcon Inc., Presbia PLC, Aurolab, CorneaGen, Florida Lions Eye Bank, KeraMed, Inc., DIOPTEX, AJL Ophthalmic S.A., San Diego Eye Bank and other.

Which region dominates the Corneal Implants Market?

North America dominates the market with an active share of 46%.

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