PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236077
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236077
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Global Artificial Corneal Implants Market is valued at approximately USD 42.01 million in 2021 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2022-2029. Artificial corneal implantation is a term that is generally used to refer to patients who are living corneal transplants from a human donor to restore their vision. Factors such as rapid growth in the geriatric population, surging demand for corneal transplants, coupled with the dearth of human corneas are the key factors that are fueling the demand for artificial corneal implants in the global market.
In addition, the rising incidences of eye disorders including corneal stromal dystrophies, ocular cicatricial pemphigoid, keratoconus, and infectious keratitis is further stipulating the market growth across the globe. Globally, 10 million individuals are affected with corneal blindness, which is the third most common cause of blindness after glaucoma and cataracts. The Eye Bank Association of America reported in a research piece from 2021 that 200,000 corneal implant surgeries are likely to be carried out annually. Furthermore, according to a Harvard Medical School paper, nearly 12.7 million people worldwide are reported that only 1 in every 70 persons in need of a transplant is treated. To address the lack of donor tissue and the issues with corneal donor transplantation, significant efforts have been undertaken to develop substitutes for human donor corneas. Therefore, these factors have increased the use of artificial corneal implants worldwide. Furthermore, increased expansion of the healthcare sector by governments and rising R&D investment for product developments are leveraging various opportunities over the anticipated years. However, the shortage of ophthalmologists and some complications are associated with post-surgery stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Artificial Corneal Implants Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the favorable reimbursement scenario, availability of technologically advanced products, and growing R&D activities. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising disposable income, increasing awareness regarding ocular disorders, as well as the presence of manufacturers in the regional market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable