Global Corneal Implant Market is Projected to Value Over US$ 500 Million by the End of 2026

  • 04 Jun 2019

The global corneal implant market is projected to value over US$ 500 million by the end of 2026 and record a CAGR of over 6% during the forecast period of 2019-2026.

The rise of visual media has resulted in the straining of our eyes. Problems like eye irritation caused by lack of sleep due to binge-watching TV shows and movies are very prominent. And to top it all, not everyone seems to be wearing sunglasses when they go out on in the sun which exposes their eyes to harmful UV rays. This UV ray overexposure results in causing keratoconus. In this disease, there occurs thinning of the cornea which is round in shape normally and in turn bulges into a conical shape. This shape of cornea causes deflection of light when it enters the eye on its way to the retina which is light-sensitive and therefore it leads to distorted vision. Keratoconus generally occurs during the adolescent time or in the early 20’s and it can happen to either one or both the eyes. To treat keratoconus, various treatments are available like corneal crosslinking which prevents the corneal tissue from bulging further and strengthens it. Different types of lenses, like a custom soft contact lens, gas permeable contact lens, hybrid contact lens, scleral and semi-scleral lenses, prosthetic lenses are also used to treat keratoconus. Intacs and topography-guided conductive keratoplasty are also some of the treatments. But in some cases, the keratoconus reaches a point where a person becomes unable to tolerate a sturdy contact lens and also therapies are no longer helpful in providing a good vision. In that case, corneal implant is the last resort. There are different types of corneal implants available like refractive corneal implants, corneal reshaping and small aperture implants.

Insights on Corneal Implants, By Region:

North America is expected to be a dominant market due to the high rise of awareness among common people followed by Europe region as it also possesses a huge amount of share in the global market. Asia- Pacific and Europe are expected to witness significant growth in the global market during the forecast period. Local manufacturers are currently dominating the Asia-Pacific region and this trend will continue during the entire forecast period. Latin America and Rest of the World account for a very small fraction of market share.

Corneal Implant Market Segmentation:
1.    By Implant type

•    Refractive Corneal Implant
•    Corneal Reshaping implant
•    Small Aperture Corneal implants

2.    By End User
•    Hospital
•    Clinic

3.    By region
•    North America
•    Europe
•    Asia-Pacific
•    Latin America
•    Rest of the World

Competitive Landscape:
•    Tier 1 players- established companies in the market with a major market share
•    Tier 2 players 
•    Emerging players which are growing rapidly 
•    New Entrants  

FutureWise Key Takeaways:
•    Growth prospects
•    SWOT analysis 
•    Key trends 
•    Key data-points affecting market growth 

Objectives of the Study:
•    To provide with an exhaustive analysis on the global corneal implant market by implant type, by end user, by region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To evaluate and forecast micro-markets and the overall market 
•    To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
•    To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
•    Profiling of companies to evaluate their market shares, strategies, financials and core competencies.

 

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