New York, United States , April 16, 2024 (GLOBE NEWSWIRE) -- The Global Corneal Implants Market Size is to Grow from USD 429.9 Million in 2023 to USD 763.0 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 5.9% during the projected period.
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A corneal implant (also known as a corneal allograft) is a surgical technique in which a donor cornea replaces an injured cornea. The cornea is transparent and shaped like a dome outermost layer of the eye that focuses light on the retina, which renders it essential for vision. The corneal implant procedure is used to cure keratoconus and other degenerative conditions, as well as for treating hyperopia, myopia, and astigmatism. Furthermore, spreading awareness about the need for eye donation is anticipated to boost the sector's growth. The emergence of eye care services, eye banking platforms, and cornea trade procedures in developing nations is expected to play a significant role in fulfilling the growing demand for corneal implants, hence adding to market growth. This is why these qualities will improve corneal tissue accessibility and eye care quality, resulting in easier for patients to obtain treatment for corneal disorders. As a result, the market is predicted to expand in emerging nations, increasing the share of corneal implants in the market. However, the corneal implantation is a safe technique, it does have several risks, including eye infection, corneal edema, strain within the eyeball, and donor cornea refusal, all of these might restrain industry share.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Corneal Implants Market Size, Share, and COVID-19 Impact Analysis, By Disease Type (Fuchs' Dystrophy, Infectious Keratitis, Keratoconus, Others), By Surgery Method (Penetrating Keratoplasty, Endothelial Keratoplasty), By End-use (Ophthalmic Centers, Hospitals, Ambulatory Surgical Centers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The fuchs' dystrophy segment is expected to hold the largest share of the global corneal implants market during the forecast period.
Based on the disease type, the global corneal implant market is categorized into fuchs' dystrophy, infectious keratitis, keratoconus, and others. Among these, the fuchs' dystrophy segment is expected to hold the largest share of the global corneal implants market during the forecast period. As knowledge of ocular wellness and Fuchs' dystrophy grows, the fuchs' dystrophy segment accounted for the greatest amount of revenue in the corneal implant market. When a person develops Fuchs' dystrophy, the clear layer (cornea) in front of the eye becomes clogged with fluid, resulting in it expanding and thickening.
The penetrating keratoplasty segment is expected to grow at the fastest CAGR during the forecast period.
Based on the surgery method, the global corneal implant market is categorized into penetrating keratoplasty and endothelial keratoplasty. Among these, the penetrating keratoplasty segment is expected to grow at the fastest CAGR during the forecast period. Its specific advantages over newer procedures, such as minimizing the stromal interface and effectively mending big core holes, are expected to keep its market share stable. Penetrating keratoplasty is a widely often used procedure for corneal transplantation due to its demonstrated safety and efficacy. Its adoption rate has recently decreased due to the availability of other treatments that yield favorable results.
The hospital segment is expected to hold a significant share of the global corneal implants market during the forecast period.
Based on the end-use, the global corneal implant market is categorized into ophthalmic centers, hospitals, and ambulatory surgical centers. Among these, the hospital segment is expected to hold a significant share of the global corneal implants market during the forecast period. Hospitals also feature specialized equipment and services, such as operating rooms, intensive care units, and facilities for eye surgery. As a result, with an abundance of specialists and advanced technology to perform these surgeries, the hospital segment's growth will probably rise during the projection period.
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North America is expected to hold the largest share of the global corneal implants market over the forecast period.
North America is expected to hold the largest share of the global corneal implants market over the forecast period. Although issues such as decreased eyesight necessitate surgical intervention, there is a huge patient population for corneal implant treatments. The rising prevalence of corneal illnesses such as keratoconus, dystrophies, and scarring has increased demand for corneal implants. Advances in corneal implant technology have increased therapeutic safety and efficacy. Artificial corneas and more biocompatible materials have improved surgical outcomes and piqued the interest of patients and physicians in these implants. Furthermore, the presence of important market competitors, effective reimbursement policies, and enhanced R&D for corneal implants are expected to drive market growth in the region.
Asia Pacific is predicted to grow at the fastest pace in the global corneal implants market during the projected timeframe. The presence of numerous emerging markets, as well as critically lacking clinical requirements in countries such as China, Indonesia, and the Philippines, is expected to drive regional expansion. For instance, in January 2023, a union hospital in China affiliated with the Tongji medical college at Huazhong university of science and technology in Wuhan performed its first artificial cornea transplant on a 25-year-old female. These factors are expected to drive the region's growth.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global corneal implants market include Florida Lions Eye Bank, Alcon Inc., Massachusetts Eye and Ear, Aurolab, CorneaGen, Presbia Plc, Mediphacos, EyeYon Medical, AJL Opthalmic SA, KeraMed Inc., CorNeat Vision, LinkoCare Life Sciences AB, DIOPTEX, San Diego Eye Bank, and Others.
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Recent Developments
- In February 2023, Alcon, a leading company in eye care dedicated to enhancing vision, announced positive results from the important phase 3 trials (COMET-2 and COMET-3) for AR-15512, a potential treatment for dry eye disease symptoms and signs.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global corneal implants market based on the below-mentioned segments:
Global Corneal Implants Market, By Disease Type
- Fuchs' Dystrophy
- Infectious Keratitis
- Keratoconus
- Others
Global Corneal Implants Market, By Surgery Method
- Penetrating Keratoplasty
- Endothelial Keratoplasty
Global Corneal Implants Market, By End-Use
- Ophthalmic Centers
- Hospitals
- Ambulatory Surgical Centers
Global Corneal Implants Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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