Artificial Cornea Implant Market 2021: Development, Growth, Key Factors and Forecast to 2026
According to the new market research report “Artificial Cornea Implant Market by Type (Human Cornea, Artificial Cornea), Transplant Type (Penetrating Keratoplasty, Endothelial Keratoplasty), Disease Indication, End Users (Hospitals, Specialty Clinics & ASCs) – Global Forecast to 2026″, published by MarketsandMarkets™, 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.
Key Players:
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).
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Opportunity: Shortage of corneal donors;
There is a significant requirement of corneal donors across
the globe, as approximately 10 million people are in need of 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 estimated 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. Around 250,000 corneas are needed annually in
the country; however, the total number of corneas donated each year is around
25,000. The high burden of corneal blindness, coupled with a shortage of
corneal donors, is expected to offer high-growth opportunities to manufacturers
of corneal implants.
The Corneal Implant industry growth is largely driven by 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 market growth.
The artificial cornea segment is projected to witness
fastest growth during the forecast period
On the basis of type, the artificial cornea and corneal
implants market is segmented into human cornea and artificial cornea. The
artificial cornea segment is projected to witness fastest growth during the
forecast period. An artificial corneal transplant, also known as
keratoprosthesis (KPro), enables the restoration of vision in conditions wherein
the cornea and the eye surface is affected or damaged. The scarcity of human
eye donors has resulted in the development of innovative solutions such as
artificial corneas. Additionally, individuals with a history of multiple
previous graft failures, Stevens-Johnson syndrome, chemical burns, severe dry
eyes, congenital aniridia, or limbal stem cell deficiency are indications for
KPro. One of the commonly used keratoprosthesis is Boston Keratoprosthesis
(Boston KPro). To date, over 15,000 Boston KPro have been implanted across the
globe.
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Penetrating keratoplasty segment accounted for the
largest share of artificial corneal implant market in 2020.
On the basis of transplant type, the Artificial Cornea
Implant 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, Fuchs’ dystrophy segment accounted for the
largest share of artificial cornea market
On the basis of disease indication, the corneal implants
market is segmented into fungal keratitis, Fuchs’ dystrophy, keratoconus, and
other diseases. In 2020, the Fuchs’ dystrophy segment accounted for the largest
share of artificial cornea and corneal implant market. The rising incidence of
the disease and the growing awareness among people regarding early disease
diagnosis are the key factors driving the growth of this segment.
In 2020, hospitals segment accounted for the largest
share of corneal implant market
Based on end users, the artificial cornea and 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 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.
Asia Pacific is expected to witness fastest growth during
the forecast period of 2021–2026.
Geographically, 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.
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