Market Research Report
Artificial Cornea and Corneal Implant Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type ; Transplant Type ; Disease Indication ; End User
|Artificial Cornea and Corneal Implant Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type ; Transplant Type ; Disease Indication ; End User|
Published: September 30, 2021
The Insight Partners
Content info: 181 Pages
Delivery time: 1-2 business days
The artificial cornea and corneal implant market to reach US$ 696.18 million by 2028 from US$ 421.86 million in 2021; it is expected to grow at a CAGR of 7.4% during 2021-2028. The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to factors such as the increasing prevalence of eye diseases causing corneal blindness and significant rise in elderly population. However, the high cost of ophthalmology surgeries and devices is hindering the market growth.
According to American Academy of Ophthalmology 2021, there is a high demand for corneal donors around the world as ~10 million people need corneal transplants. However, the number of transplant recipients greatly exceeds the availability of corneal tissues. In densely populated counties, such as India, patients with blind cornea wait for corneal transplants for more than 6 months. According to National Center for Biotechnology Information, ~6.8 million people across the country have poor vision in one eye, and ~1 million people have both their eyes with poor vision, caused by corneal diseases. In 2019, corneal blindness affected ~120,000 people India, and by the end of 2020, it is estimated to have 10.6 million cases of unilateral corneal blindness. The country needs ~250,000 corneas each year; however, the total number of corneas donated each year is ~25,000. According to the Directorate General of Health Services, about 25,000 corneal transplantation procedures are performed every year against a requirement of one million dollars. Thus, the shortage of corneal donors, in contrast with the high prevalence of corneal blindness, is expected to provide high growth opportunities for corneal implant manufacturers.
The artificial cornea and corneal implant market, by type, is segmented into human cornea and artificial cornea. The human cornea segment is expected to hold a larger share of the market in 2021. However, the artificial cornea segment is anticipated to register a higher CAGR in the market during the forecast period. Based on transplant type, the artificial cornea and corneal implant market is segmented into penetrating keratoplasty, endothelial keratoplasty, and others. The penetrating keratoplasty segment is expected to account for the largest market share in 2021. However, the endothelial keratoplasty segment is anticipated to register the highest CAGR in the market during the forecast period. The artificial cornea and corneal implant market, based on disease indication, is segmented into Fuchs' Dystrophy, keratoconus, fungal keratitis, and others. The Fuchs' Dystrophy segment is expected to account for the largest market share in 2021. However, the fungal keratitis segment is anticipated to register the highest CAGR in the market during the forecast period. Based on end user, the artificial cornea and corneal implant market is segmented into hospitals, specialty clinics and ASCs, and others. The specialty clinics and ASCs segment is expected to account for the largest market share in 2021, and it is further estimated to register the highest CAGR in the market during the forecast period.
A few of the major primary and secondary sources referred to while preparing the report on artificial cornea and corneal implant market are the World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), and the National Center for Biotechnology Information (NCBI).
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Artificial Cornea and Corneal Implant Market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Artificial Cornea and Corneal Implant Market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.