Corneal Implants Market size to exceed $500mn By 2025
Published Date: April 12, 2019 Authors: Sumant Ugalmugle
Corneal Implants Market size is set to exceed USD 500 million by 2025; according to a new research report by Global Market Insights, Inc.
Rising incidence of eye diseases across the globe will foster the corneal implants market growth in upcoming years. According to WHO, cataract, glaucoma and corneal blindness are some of the major reasons of vision loss and prevalence of these conditions is rising. In India, it is predicted that 6.8 million population have vision less than 6/60 in at least one eye because of corneal diseases. It is further predicted that patients with unilateral corneal blindness will raise to 10.6 million by 2020. Such stupendous increase in incidences of corneal diseases will upsurge demand of corneal implants, thereby, fostering the business growth.
Growing geriatric population in developed economies will propel corneal implant market growth over the forecast period. Geriatric population is prone to various chronic diseases such as diabetes that may lead to several corneal diseases including superficial punctate keratitis, persistent epithelial defects, corneal endothelial damage and recurrent corneal erosions. According to NCBI article, diabetic conditions are responsible for 12,000 to 24,000 incidences of blindness in U.S. each year. Wide range of applications of corneal implants in the treatment of corneal diseases will augment industry growth over forecast timeframe. However, shortage of donor material coupled with taboo associated with organ donation may impede the industry growth to some extent.
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Artificial cornea segment accounted for USD 2.9 million in 2018 and is anticipated to witness robust growth. Currently, huge gap exists in the demand and supply of corneal tissues from human origin. Manufacturers are emphasizing on developing innovative artificial implants to cater to high and unmet demand of human corneal tissues is some countries. Ongoing technological advancements leading to the development of new and innovative artificial corneal implants are predicted to drive segmental growth over foreseeable future.
Penetrating keratoplasty is predicted to witness 6.3% CAGR throughout the forecast period. The technique is considered as gold standard for treatment of corneal diseases from past several years. Wide benefits of penetrating keratoplasty compared to other available surgeries including low risk of graft failure will augment the segment growth over.
Keratoconus segment held more than 25% revenue share in 2018. Rising awareness among people related to corneal topography for keratoconus diagnosis will boost the segmental growth. Keratoconus is one of the most prevalent condition in adult as well as teenagers. Detrimental environmental conditions such as increasing global temperature, depletion of ozone layer is predicted to increase its prevalence rendering significant positive impact on segmental growth.
Ambulatory surgical centers segment will grow at 7.2% from 2019 to 2025. Inclination of patients towards ambulatory surgical procedures due to low cost will augment the end user segment growth. Furthermore, early discharge, less chances of hospital acquired infections and easy reimbursement will increase patient flow in ambulatory surgical centers propelling its growth.
Browse key industry insights spread across 112 pages with 118 market data tables & 10 figures & charts from the report, “Corneal Implants Market Size By Tissue Type (Human Donor, Artificial Cornea), By Transplant Type (Anterior Lamellar Keratoplasty, Endothelial Lamellar Keratoplasty, Penetrating Keratoplasty), By Condition (Fungal Keratitis, Fuchs' Dystrophy, Keratoconus) By End-use (Hospitals, Eye Clinics, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
Asia Pacific corneal implants market is anticipated to have more than 8% CAGR over the forecast period. Increasing prevalence of eye diseases and consequent vision loss will drive demand of corneal implants. India alone currently has around 10 million blind people with more than 1 million blinds with both eyes. Moreover, increasing adoption rates for corneal transplantation coupled with developing healthcare infrastructure will propel Asia Pacific industry growth in years to come.
Prominent industry players and eye banks operating in corneal implants market are Alabama eye bank Inc, Alcon Inc, Florida Lions Eye bank, Presbia PLC, San Diego eye bank, CorNeat Vision Ltd, Aurolab, Dipotex, AJL Opthalmic SA (Intacs), KeraMed, Inc, and Massachusetts eye and ear. Industry players are adopting various growth strategies such as product launch and acquisition to garner higher market shares. For instance, in 2018, DIOPTEX launched medical device Keralux. Launching such innovative products will help the firm to sustain in corneal implants market.
Corneal implants market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:
Corneal Implants Market, by Tissue Type (USD million)
- Human donor
- Artificial cornea
Corneal Implants Market, by Transplant Type (USD million)
- Anterior lamellar keratoplasty (ALK)
- Endothelial lamellar keratoplasty (ELK)
- Penetrating keratoplasty (PK)
Corneal Implants Market, by Condition (USD million)
- Fungal keratitis
- Fuchs’ dystrophy
Corneal Implants Market, by End-use (USD million)
- Eye clinics
- Ambulatory surgical centers (ASC’s)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia