Corneal Implants Market to hit USD 495 Million by 2028, Says Global Market Insights Inc.
Corneal Implants Industry is anticipated to register 6.4% CAGR between 2022 and 2028 due to increasing prevalence of eye disorders, and growing awareness regarding donating cornea.
SELBYVILLE, Del., May 4, 2022 /PRNewswire/ -- The corneal implants market value is projected to reach USD 495 million by 2028, according to a new research report by Global Market Insights Inc. Increasing number of pathology labs and services equipped with advanced diagnostics systems will boost the market expansion.
The proportion of older people in the coming decades is likely to change significantly. Shift in demographic trends will increase the prevalence of eye disease. Rising global geriatric population is anticipated to heighten the susceptibility towards ophthalmic and ocular conditions. Furthermore, diminishing visual functions is a growing concern in elderly population. Geriatric population is relatively more prone than younger population to numerous ophthalmology associated health concerns thereby, drive the corneal implants market statistics.
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Artificial cornea segment surpassed USD 2 million in 2021. This is attributable to availability of superior quality corneal implants. Firms emphasizing on development and launch of artificial cornea should further spur revenue size of the segment. For instance, Beijing Microkpro Medical Instrument Co., Ltd. announced the launch of proprietary artificial cornea; MIOK Keratoprosthesis, and the company has done its registration in NMPA on December 7, 2021. Such scenarios will accelerate the industry trends.
Some major findings of the corneal implants market report include:
- Rising prevalence of eye disorders worldwide will propel the demand for corneal implants.
- Increasing awareness regarding cornea donation will positively influence the business landscape.
- Government funding and rising R&D activities to develop fully automated surgical implants instruments will foster the industry outlook.
- North America market captured substantial revenue share in 2021, due to presence of prominent market players in the region.
Browse key industry insights spread across 117 pages with 118 market data tables & 14 figures & charts from the report, "Corneal Implants Market Forecasts By Tissue Type (Human Donor, Artificial Cornea), 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
Anterior lamellar keratoplasty segment is expected to register 7% CAGR during the forecast period. Demand for ALKs is increasing as this transplant procedure reduces the risk of endothelial graft rejection, maintains structural integrity, reduces potential intraoperative complications associated with open sky procedures, thereby promoting market expansion.
Corneal implants market from fungal keratitis segment exceeded USD 41 million in 2021. Predisposing risk factors for fungal keratitis include wearing contact lenses, eye trauma with vegetative matter, previous eye surgery, use of topical steroids, and immunosuppression. Around 70 different fungi have been implicated in the causation of fungal keratitis, wherein, yeast and filamentous fungi (septate and non-septate) are the most relevant. Improper or ineffective diagnosis and treatment may result in significant damage to the cornea, thus, bolstering the business revenue.
The eye clinics segment accounted for around 15% market share in 2021. In eye clinics, transplant surgeries are performed with the best technology and by skilled surgeons who offer perfect eyesight. Additionally, eye clinics follow safety procedures, processing, quality, implementing ethical policies and standardizing legislation that will foster segment growth.
Asia Pacific corneal implants market was valued at around USD 35 million in 2021. This is attributable to its vast population suffering with blindness. Additionally, implementation of favorable government initiatives to support corneal transplants and developing medical infrastructure to meet healthcare needs for eye disorders such as cataract, and keratoconus will boost the regional market forecasts.
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Some of the major business players operating in the corneal implants industry include Alcon Inc., Presbia PLC, AJL Ophthalmic SA (Intacs), San Diego Eye Bank, Florida Lions Eye Bank, CorNeat Vision Ltd., Aurolab, DIOPTEX, MicroKpro, KeraMed, Inc., Alabama Eye Bank Inc., Massachusetts Eye and Ear, and Mediphacos.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Global Market Insights Inc.
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SOURCE Global Market Insights Inc.
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