Artificial cornea and corneal implants are devices that replace the in vivo lost cornea with medical-grade silicone or other artificial materials. The main uses of these devices are to treat disorders like keratoconus, a degenerative eye disease that can result in blindness or to serve as replacement eyes for those who have lost their original eyes as a result of illness or injury.
The market value of artificial cornea and corneal implants in 2021 was USD 421 million and will reach USD 767.50 million by 2030 at a 6.9% CAGR during 2021-2030.
The market expansion is due to factors like the large rise in the older population and the rising prevalence of eye conditions that cause corneal blindness. However, the high price of ophthalmology procedures and equipment impedes market expansion.
Market Dynamics
Drivers
An increasing rate of eye disorders
As the number of people with severe eye conditions increases worldwide, vision loss is becoming a significant public health issue. The prevalence of eye disorders, including diabetic retinopathy and ocular hypertension, has increased due to the rising incidence of chronic diseases like diabetes and hypertension and the aging population (glaucoma). Likewise, a sharp increase in the number of people with low eyesight or blindness is anticipated. The Royal National Institute of Blind People estimates that more than 2 million Britons were sight-impaired in 2013, which will increase to 4.1 million by the year 2050.
Restraints
The global market for artificial cornea implants is severely constrained by the human eye’s rejection of alloplastic artificial corneas. Additionally, because artificial cornea implant surgery is expensive, it is not widely used in developing countries, which will restrain market expansion. The global market has also been greatly influenced by the lack of human cornea donors and the high risk of grafting artificial cornea implants.
Opportunities
A significant rate of growth for corneal implant manufacturers due to the high prevalence of corneal blindness and the shortage of corneal donors will boost the market in the future. Furthermore, the artificial cornea implant market will grow significantly as a result of the increasing prevalence of corneal infections. Additionally, the rising visual impairments among working people caused by cloudy corneas have increased demand for these corneal implants on the global market.
Market Segmentation
Type Insights
On the basis of type, the market for artificial cornea and corneal implants is segmented into artificial cornea and human cornea.
The artificial cornea segment ruled the entire market for artificial cornea and corneal implants. In particular, this market segment in emerging nations will raise awareness regarding corneal implantation and tissue donation.
Implantation Type Insights
On the basis of implantation type, the market for artificial cornea and corneal implants is segmented into penetrating keratoplasty, endothelial keratoplasty, and others.
The “penetrating keratoplasty” segment holds the majority of the market. Due to an increase in patients suffering from eye diseases like infectious keratitis and eyeball injuries, penetrating keratoplasty has become more popular.
Disease Manifestation Insights
On the basis of disease manifestation, the market for artificial cornea and corneal implants is segmented into Fuchs dystrophy, keratoconus, fungal keratitis, and others.
The Fuchs dystrophy segment held the majority of the market with the largest market share. This market will grow quickly because of the rising prevalence of eye-related disorders and growing public awareness of the importance of early diagnosis.
End-User Insights
On the basis of end-user, the market is segmented into hospitals and, specialty clinics & ASCs.
The specialty clinics segment led the overall market with the largest market share. This market’s growth is influenced by the drop in inpatient surgeries and the rising popularity of less invasive procedures. Concerns regarding hospital-acquired infections and patient desires for effective treatment are driving this segment’s growth.
Regional Insights
North America held a significant market position and ruled the entire market. Due to the region’s advanced healthcare infrastructure, growing adoption of cutting-edge medical technology, and a wide variety of corneal implant manufacturers, North America accounts for a sizable percentage of the global market. Furthermore, Asia-Pacific will develop the fastest throughout the anticipated period due to the region’s vast population base, rising disposable income, and growing patient awareness of eye care.
Artificial cornea and corneal implants market key players
- Addition Technology
- Mediphacos
- Florida Lions Eye Bank
- CorneaGen
- ALJ Ophthalmic
- LinkoCare Life Sciences AB
- Aurolab
- EyeYon Medical
- Presbiaplc
- DIOPTEX GmbH
- Advancing Sight Network
- Massachusetts Eye and Ear
- San Diego Eye Bank
- SightLife
- Cornea Biosciences
The market value of artificial cornea and corneal implants in 2021 was USD 421 million and will reach USD 767.50 million by 2030 at a 6.9% CAGR during 2021-2030. A major factor fostering the market’s expansion is the rising prevalence of corneal infections and other eye-related conditions among the general population. Additionally, the aging population, which is more vulnerable to these diseases, is driving market expansion.