The global artificial cornea and corneal implants market size was USD 420 Mn in 2021 and is anticipated to reach USD 752 Mn in 2031, growing at a rate of 6.0 % from 2022 to 2031.
New York, According to a new market research report published by Global Insight Services “Artificial Cornea and Corneal Implant Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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A cornea transplant (keratoplasty) is a surgical procedure to substitute part of the cornea with corneal tissue from a donor. The cornea is the transparent, dome-shaped surface of the eye. It’s where light enters the eye and is a large part of the eye’s ability to see clearly. A cornea transplant may restore vision, reduce pain, and improve the appearance of a damaged or diseased cornea. Most cornea transplant procedures are successful. But cornea transplant carries a small risk of complications, like the rejection of the donor cornea.
Global Cornea and Corneal Implants Market Drivers
Increasing Prevalence of eye diseases
The number of people with major eye diseases is increasing worldwide, and vision loss is becoming a major public health concern. The growth in the aging population coupled with the increasing prevalence of chronic disorders like diabetes and hypertension have raised 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 extensively. According to the Royal National Institute of Blind People (RNIB), in 2013, around 2 million people in the UK were living with vision loss, and this figure is likely to increase to 4.1 million by 2050. Presently, there are 146 million people worldwide with trachoma, of which 10 million suffer from trichiasis and need surgery to prevent corneal blindness and 4.9 million individuals are completely blind from trachomatous corneal scarring. Moreover, as per the “World Report on Vision 2019” by WHO, nearly 2.2 people worldwide have vision impairment or blindness. This figure includes several eye conditions that include moderate to severe distance vision impairment or blindness owing to unaddressed refractive errors (123.7 million) and presbyopia (1.8 billion, including both addressed and unaddressed presbyopia), age-related macular degeneration (10.4 million), cataract (65.2 million), corneal opacities (4.2 million), glaucoma (6.9 million), trachoma (2 million), diabetic retinopathy (3 million), and other causes (37.1 million), and people with mild vision impairment with unknown causes (188.5 million).
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Global Cornea and Corneal Implants Market Opportunities
Shortage of corneal donors
There is a significant requirement for corneal donors across the globe, as approximately 10 million people need corneal transplants. Densely populated counties such as India suffer from a significant shortage of donor corneas, and there is a waiting period of more than six months for corneal transplants among patients suffering from corneal blindness. Approximately 6.8 million people in the country have poor vision in one eye, and nearly one million people have poor vision in both eyes due to corneal disorders. It was anticipated that by the end of 2020, India would suffer from 10.6 million cases of unilateral corneal blindness. In 2019, around 120,000 people were affected by corneal blindness. About 250,000 corneas are needed annually in the country; still, the total number of corneas donated each year is around 25,000. The high burden of corneal blindness, combined with a shortage of corneal donors, is likely to offer high-growth opportunities to manufacturers of corneal implants.
Market Players of Global Cornea and Corneal Implants Market
The key players in the global cornea and corneal implants market are AJL Ophthalmic, CorneaGen Inc, CorNeat Vision, LinkoCare Life Sciences AB, Presbia plc, Mediphacos, Aurolab, Cornea Biosciences, DIOPTEX GmbH and EyeYon Medical among others.
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Reasons to buy Artificial Cornea and Corneal Implant Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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