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Corneal Implants Market size to exceed $495mn by 2028

  • Published Date: May 4, 2022

Corneal Implants Market size is set to surpass USD 495 million by 2028, according to a new research report by Global Market Insights Inc.
 

Improved patient outcomes, as well as a decrease in related ocular surgical complications will foster the industry outlook. Similarly, rise in demand for corneal implants by eye surgeons and ophthalmologists to lower the risk of post-operative complications will boost the business landscape.
 

Increasing prevalence of eye disorders globally will fuel the market progression

The number of people suffering from serious eye disorders is rising, and vision loss is becoming a major public health concern globally. The prevalence of eye diseases such as diabetic retinopathy and ocular hypertension has increased among geriatric population. The rising prevalence of chronic diseases such as diabetes and hypertension (glaucoma) also contribute towards eye disorders. Such scenarios are expected to positively influence the corneal implants market forecasts.
 

Growing demand for artificial cornea will accelerate the overall market statistics

Artificial cornea segment is projected to witness more than 8% CAGR from 2022 to 2028. This is due to the technological advancements coupled with availability of superior quality corneal implants. Moreover, companies focusing on developing innovative artificial cornea to overcome the demand & supply gap between required corneas and available human donors are the factors that should boost segment revenue.
 

However, LinkoCare Life Sciences Ltd. introduced collagen-based material called LinkCor. It is anticipated to be a viable replacement for human corneas. This collagen cornea is healed rapidly without causing any inflammation or damage to surrounding tissue. The host stromal cells migrate into the implant and initiate regeneration by producing new collagen. In addition, in developing countries, availability of improved eye care facilities, presence of eye banks, is consequently encouraging the market expansion.
 

Browse key industry insights spread across 117 pages with 118 market data tables & 14 figures & charts from the report, Corneal Implants Market Analysis By Tissue Type (Human Donor, Artificial Cornea), By Transplant Type (Anterior Lamellar Keratoplasty, Endothelial Lamellar Keratoplasty, Penetrating Keratoplasty), Condition (Fungal Keratitis, Fuchs’ Dystrophy, Keratoconus), End-use (Hospitals, Eye Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028 in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/corneal-implants-market
 

Improving surgical techniques and advancements in penetrating keratoplasty surgery will influence the industry trends

Corneal implants market from penetrating keratoplasty segment accounted for 47% revenue  share in 2021. The demand for penetrating keratoplasty has increased owing to rising number of people suffering from eye disorders such as bacterial keratitis and injury of the eyeball. Furthermore, penetrating keratoplasty offers wide-ranging application of corneal pathologies such as keratoconus, bullous keratopathy, dystrophies, and corneal degenerations.
 

Additional, in recent years, the majority of ophthalmologists have focused their efforts on refining surgical procedures to lower the frequency of corneal allograft rejection. As a result, there is a growing demand for novel technologies such as half-top-hat penetrating keratoplasty (HTH-PKP), manual top-hat wound configuration for penetrating keratoplasty (M-TH-PKP), and femtosecond laser shaped penetrating keratoplasty of top-hat configuration (FS-TH-PKP) surgeries.
 

Increasing awareness among people regarding Fuchs’ dystrophy diagnosis will accelerate the overall industry statistics

Corneal implants market from fuchs’ dystrophy segment held around USD 174 million in 2021. Fuchs’ dystrophy causes swelling of the cornea resulting in halo, glare, and reduced visual acuity. The damage can be so severe as to cause corneal blindness. Rising incidence of the disease along with growing awareness among people will surge the demand for diagnostic tests including pachymetry and other clinical tests that measure the central corneal thickness enable monitoring of patients with fuchs’ dystrophy. Early disease diagnosis will increase the demand for effective and timely treatment such as endothelial keratoplasty.
 

Rising preference for ambulatory surgical centers will propel the business outlook

Corneal implants market from ambulatory surgical centers segment exceeded USD 133 million in 2021. In most care settings, corneal implant procedures adoption rate has increased as outpatient procedures offers a one-day treatment. Several governmental and private financing schemes help to finance these facilities. In addition, ASC provide the highest quality to professional staff, including trained and experienced ophthalmologists, nurses and technicians who work as a team to safely and efficiently provide patients with the best surgical care in a friendly and welcoming environment, thus fostering the industry demand.
 

Favorable government initiatives in Europe will spur the industry scenario

Europe corneal implants market is anticipated to grow at 6.9% CAGR through 2028. This is attributable to the growing investment in R&D for optimization of preparation and preservation methods for long term transplanted grafts. For instance, Max and Kiera Act, also known as the 2019 Organ Donation Act, came into action in the UK on May 20, 2020. Under this law, all adults are considered potential organ donors when they die, unless they choose not to donate organs or belong to one of the excluded groups. Such advances are likely to stimulate the regional business growth.
 

Major market leaders are focusing on strategies & launching innovative products to capture a higher market share

Some of the prominent industry players operating in the corneal implants industry include Alabama Eye Bank Inc., Florida Lions Eye Bank, CorNeat Vision Ltd., Aurolab, AJL Ophthalmic SA (Intacs), MicroKpro, KeraMed, Inc., Presbia PLC, DIOPTEX, San Diego Eye Bank, Mediphacos, Alcon Inc., and Massachusetts Eye and Ear. These players are implementing various growth strategies.
 

Authors: Sumant Ugalmugle, Rupali Swain