New York, July 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Corneal Implants Global Market Report 2023" - https://www.reportlinker.com/p06480047/?utm_source=GNW
The global corneal implants market is expected to grow from $1.19 billion in 2022 to $1.28 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The corneal implants market is expected to reach $1.65 billion in 2027 at a CAGR of 6.5%.
The corneal implants market includes revenues earned by entities by providing corneal implantation services, including deep anterior lamellar keratoplasty (DALK) and descemetorhexis without endothelial keratoplasty (DWEK).The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Corneal implants refer to a surgical procedure that involves the replacement or augmentation of a damaged or diseased cornea with an artificial or prosthetic device. Corneal implants are surgically implanted into the cornea of the eye to improve vision and relieve pain.
North America was the largest region in the cornea implants market in 2022.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in corneal implants report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of corneal implants are artificial corneal implants and human corneal implants.An artificial corneal implant refers to a medical device designed to replace a damaged or diseased cornea.
There are various procedures for corneal implants, including endothelial keratoplasty, penetrating keratoplasty, and others for different applications such as keratoconus, fuchs dystrophy, infectious keratitis, corneal ulcers, and others. These are conducted in hospitals, ophthalmic centers, and others.
The surge in the prevalence of corneal disorders is expected to propel the growth of the corneal implant market going forward.Corneal disorders refer to a group of medical conditions that affect the cornea, a clear, dome-shaped front surface of the eye, and result in visual impairment and discomfort.
A growing number of corneal disorders has created a surge in demand for corneal implants, providing various alternatives to treat corneal abnormalities, enhancing corneal integrity, reducing symptoms, and improving vision. For instance, in December 2022, according to the Center for Disease Control (CDC), a US-based federal agency, in the United States, the prevalence of cataracts (a corneal disorder) among individuals aged over 40 is estimated to be around 20.5 million, representing approximately 17.2% of the population in that age group. Further, it is estimated to exceed 30 million by the year 2028. Therefore, the surge in the prevalence of corneal disorders is driving the growth of the corneal implant market.
Product innovations are a key trend gaining popularity in the corneal implant market.Major companies operating in the corneal implant market are concentrating on creating innovative products such as biodegradable implants, bioengineered corneal implants, and hybrid corneal implants to sustain their position in the market.
For instance, in March 2020, Allergan, a US-based pharmaceutical company, launched DURYSTA, the first Food and Drug Administration-approved intracameral, biodegradable sustained-release implant recommended to lower intraocular pressure.The sustained-release implant provides continuous medication delivery, eliminating the need for patients to use daily eye drops.
This product offers convenience, improves treatment compliance, and reduces the potential for medication errors.
In January 2023, Viatris Inc., a US-based pharmaceutical and healthcare corporation, acquired Oyster Point Pharma and Family Life Sciences for $415 million and $280 million, respectively. With these acquisitions, Viaris Inc. aims to increase its commercial footprint and portfolio, establish itself as a global leader in eye care, and satisfy the unmet requirements of patients with ophthalmic disease and eye care professionals. Oyster Point Pharma is a US-based biopharmaceutical company specializing in identifying, creating, and marketing novel treatments for eye diseases. Family Life Sciences is an Indian drug development platform specializing in ophthalmology.
The countries covered in the corneal implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The corneal implants market research report is one of a series of new reports that provides corneal implants market statistics, including corneal implants industry global market size, regional shares, competitors with a corneal implants market share, detailed corneal implants market segments, market trends and opportunities, and any further data you may need to thrive in the corneal implants industry. This corneal implant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06480047/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
