Corneal Implants Market | Regional Growth Forecast 2021-2027
Category: #business  By Ronak Bora  Date: 2021-08-11
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Corneal Implants Market | Regional Growth Forecast 2021-2027

The global corneal implants market is projected to witness immense revenue growth over the forthcoming years owing to an increasing consumer demand for eye surgical procedures that are minimally invasive in nature. This ongoing shift towards these minimally invasive procedures in being attributed to the proven risks associated to corneal disease treatment options, owing to the complexity involved.

Additionally, the steadily increasing global geriatric population is also expected to play a major role in fostering industry expansion. A majority of the elderly population is prone to or is already suffering from a varied array of eye disorders. In fact, according to reports by the World Health Organization, globally, about 1 billion people suffer from near or distance impairment of vision, of which a majority of the affected fall under the age group of 50 years and above. Additionally, corneal blindness is the 4th leading cause of blindness worldwide. With such high prevalence of the ailment, the demand for corneal implants is set to increase in tandem with the aforementioned demographic.

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Global Market Insights Inc. estimates that the corneal implants market would likely exceed a valuation of $500 million by the end of 2025.

With respect to tissue type, the artificial corneal implant segment is estimated to register a CAGR of 10% over the forecast timeframe. This anticipated growth is ascribed to the newly developed artificial corneal implants that can be used as a substitute in patients who cannot tolerate corneas from a human donor. As per the Cornea Research Foundation of America, approximately 10 million individuals suffer from corneal blindness worldwide. However, only 100,000 of these patients have access to corneal tissue from a human donor. This scarcity of tissue from human donors has augmented the artificial corneal implants demand, which is fostering the segment outlook.

Eye clinics boast of significant expertise that effectively help diagnose an eye disease. This sole factor is slated to drive the growth of eye clinics segment over the forthcoming time period. In 2018, the segment held a notable valuation of $49 million with industry forecast expecting it to witness a remunerative growth trend over the coming years. However, the inefficiency of some of these clinics to perform surgeries or non-invasive eye transplant on premises is compelling them to refer patients to hospitals that are well capable to perform these surgical procedures, this determinant is consequently fostering the growth of the hospital end-use segment.

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A significant amount of geriatric population diagnosed with eye disorders in the region needing corneal transplant is projected to augment the North America corneal implants market share. In 2018, the regional market held more than 60% of the overall revenue share. Additionally, favorable demographic trends as well as the introduction of supportive regulatory scenarios that benefit the corneal implants sector would majorly stimulate the industry expansion in North America.

Furthermore, a significant number of people diagnosed with Fuchs’ Dystrophy and keratoconus in the region would further favor business growth. These patients typically prefer to undergo minimally invasive corneal transplant procedures owing to their benefits. This is likely to be another major factor that would proliferate the regional market trends.

Attributing to the expanding patient pool and the ongoing scarcity of corneal tissue from human donors, several industry players are seeking different growth strategies that ensure rapid revenue growth in a short amount of time. Taking March 2019 for instance, Alcon, a renowned eye care medical device company, reportedly acquired PowerVision Inc., an American medical device firm, to further its commitment to deliver access to accommodating, innovative lens to cataract patients worldwide. 

The competitive landscape of the corneal implants industry is inclusive of players such as AJL Ophthalmic SA (Intacs), DIPOTEX, Aurolab, CorNeat Vision, San Diego Eye Bank, Presbia, Florida Lions Eye Bank, Alcon, and Alabama Eye Bank among others.

Partial Chapter of the Table of Content

Chapter 2. Executive Summary

2.1. Corneal implants industry 3600 synopsis, 2014 - 2025

2.1.1. Business trends

2.1.2. Tissue type trends

2.1.3. Transplant type trends

2.1.4. Condition trends

2.1.5. End-use trends

2.1.6. Regional trends

Chapter 3. Corneal Implants Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 - 2025

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Increasing incidence of eye diseases worldwide

3.3.1.2. Rising elderly population in developed economies

3.3.1.3. Growing demand for minimally invasive surgical procedure across the globe

3.3.2. Industry pitfalls and challenges

3.3.2.1. Risks associated with corneal implants

3.3.2.2. Shortage of donor material worldwide

3.4. Growth potential analysis

3.4.1. By tissue type

3.4.2. By transplant type

3.4.3. By condition

3.4.4. By end-use

3.5. Technology landscape

3.6. Porter’s analysis

3.7. Competitive landscape, 2017

3.7.1. Strategy dashboard

3.8. PESTEL analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/corneal-implants-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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