According to the new market research report “Artificial Cornea Implant Market by Type (Human Cornea, Artificial Cornea), Transplant Type (Penetrating Keratoplasty, Endothelial Keratoplasty), Disease Indication, End Users (Hospitals, Specialty Clinics ASCs) – Global Forecast to 2026″, published by MarketsandMarkets™, the global Artificial Cornea Implant Market is projected to reach USD 599 million by 2026 from USD 418 million in 2021, at a CAGR of 7.4% from 2021 to 2026.
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Key Players:
AJL Ophthalmic (Spain), CorneaGen Inc. (US), Addition Technology, Inc. (US), LinkoCare Life Sciences AB (Sweden), Presbia plc (Ireland), Mediphacos (Brazil), Aurolab (India), Cornea Biosciences (US), DIOPTEX GmbH (Austria), EyeYon Medical (Israel), Massachusetts Eye and Ear (US), Florida Lions Eye Bank (US), SightLife (US), Advancing Sight Network (US), San Diego Eye Bank (US) and L V Prasad Eye Institute (LVPEI, India).
Market Drivers
- Rapid growth in the geriatric population
- Rising prevalence of eye diseases
- Increasing government initiatives to control visual impairment
Restraints
- High cost of ophthalmology devices and surgical procedures
Opportunities
- Shortage of corneal donors
- Untapped potential of emerging markets
Challenges
- Lack of awareness and low access to eye care in low-income economies
- Shortage of ophthalmologists
The artificial cornea segment is projected to witness fastest growth during the forecast period
On the basis of type, the artificial cornea and corneal implants industry is segmented into human cornea and artificial cornea. The artificial cornea segment is projected to witness fastest growth during the forecast period. An artificial corneal transplant, also known as keratoprosthesis (KPro), enables the restoration of vision in conditions wherein the cornea and the eye surface is affected or damaged. The scarcity of human eye donors has resulted in the development of innovative solutions such as artificial corneas. Additionally, individuals with a history of multiple previous graft failures, Stevens-Johnson syndrome, chemical burns, severe dry eyes, congenital aniridia, or limbal stem cell deficiency are indications for KPro. One of the commonly used keratoprosthesis is Boston Keratoprosthesis (Boston KPro). To date, over 15,000 Boston KPro have been implanted across the globe.
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Penetrating keratoplasty segment accounted for the largest share of artificial corneal implant industry in 2020.
On the basis of transplant type, the Artificial Cornea Implant Market is segmented into penetrating keratoplasty, endothelial keratoplasty, and other transplants (including anterior lamellar keratoplasty (ALK) and keratoprosthesis). In 2020, the penetrating keratoplasty segment accounted for the largest share of the global artificial cornea and corneal implants market. The large share of this segment can be attributed to the rising number of people suffering from eye disorders such as infectious keratitis and injury of the eyeball.
In 2020, Fuchs’ dystrophy segment accounted for the largest share of artificial cornea market
On the basis of disease indication, the corneal implants market is segmented into fungal keratitis, Fuchs’ dystrophy, keratoconus, and other diseases. In 2020, the Fuchs’ dystrophy segment accounted for the largest share of artificial cornea and corneal implant market. The rising incidence of the disease and the growing awareness among people regarding early disease diagnosis are the key factors driving the growth of this segment.
In 2020, hospitals segment accounted for the largest share of corneal implant industry
Based on end users, the artificial cornea and corneal implants market is segmented into hospitals and specialty clinics and ambulatory surgery centers (ASCs). In 2020, hospitals segment accounted for the largest share of artificial corneal implant market. The rising prevalence of eye disorders, growth in the geriatric population, increasing awareness about the innovative artificial corneal technology, the willingness of patients to spend more on advanced treatments, and the growing number of hospitals in developing countries such as India, China, and Brazil are some of the key factors driving the growth of the artificial cornea and corneal implants market for hospitals.
North America accounted for the largest share of the global artificial cornea and corneal implants market
Geographically, the artificial cornea and corneal implant market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East Africa. In 2020, North America accounted for the largest share of the global artificial cornea and corneal implants market. The market is well-established in North America, with the US dominating the market in this region. The large share of North America is mainly attributed to the established healthcare infrastructure, higher adoption of sophisticated healthcare technologies, higher budget among end users of ophthalmic devices, and a large number of manufacturers for corneal implants in the region.
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