(PharmaNewsWire.Com, November 27, 2021 ) MarketsandMarkets Research Report’s View on Revenue Impact?
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.
Factors Responsible for Growth and In-Depth Analysis?
The Artificial Cornea and Corneal Implant Market growth is largely driven by the The growing geriatric population and the rising prevalence of eye diseases are the major drivers for the artificial cornea and corneal implants market. The increasing prevalence of eye disorders and government initiatives to control visual impairment are further boosting the market growth.
The number of people with major eye diseases is increasing across the globe, and vision loss is becoming a major public health concern. The growth in the aging population and increasing prevalence of chronic disorders such as diabetes and hypertension have increased the prevalence of eye diseases such as diabetic retinopathy and ocular hypertension (glaucoma). The number of blind individuals or those affected with low vision is also expected to increase substantially.
The prominent players in Artificial Cornea and Corneal Implant Market are 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).
AJL offers the artificial corneal implant through the Ophthalmology segment. The company has a strong product portfolio and a wide geographic presence in over 80 countries globally.
Massachusetts Eye and Ear provides primary care and serves as a referral center for inpatient and outpatient surgical and medical care. It also offers several types of corneal services that provide better quality care.
L V Prasad Eye Institute (LVPEI, India) – LVPEI has served over 30.6 million people, over 50% of them entirely free of cost, irrespective of the complexity of care needed. The LVPEI Eye Care network is spread across the Indian states of Telangana, Odisha, Andhra Pradesh, and Karnataka, with nearly 228 centers providing primary to advanced eye care services.
Geographical Analysis in Detailed?
The artificial cornea and corneal implant market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to witness highest CAGR during the forecast period of 2021–2026. The Asia Pacific forms the most lucrative region in the artificial cornea and corneal implants market, owing to the large population in countries such as China and India, rapid growth in the geriatric population, improving healthcare infrastructure, growing per capita income, and the rising focus of key market players on this region.
Penetrating keratoplasty segment accounted for the largest share of artificial cornea and corneal implant market in 2020.
On the basis of transplant type, the artificial cornea implants 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, hospitals segment accounted for the largest share of artificial cornea and corneal implant market
Based on end users, the artificial 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 cornea and 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.
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