Artificial Corneal Implants are the artificially made by using anterior lamellar keratoplasty, endothelial keratoplasty, penetrating keratoplasty, keratoprosthesis, and keratoprosthesis, the damaged cornea of the eye is replaced with artificial or human donor corneal tissue. It is mostly used to treat ophthalmic conditions including keratoconus and Fuchs’ dystrophy since it is made for long-term eyesight. Artificial Corneal Implants help considerable change in patients’ lifestyle as its improves eye’s ability of vision & keep their natural sight inorder. Artificial Corneal Implants helps in the improvement of the physical appearance of a person and gives comfort & convenience. According to reports, each year more than 200,000 corneal implant procedures are performed. Nevertheless, just 1 in 70 of the world’s requirement for corneal implants has been met; there are currently 12.7 million people on the waiting list. Thus, it is anticipated that the sector would grow during the projection period despite the significant disparity between supply and demand.
Market Dynamics
The global Artificial Corneal Implants market is increasing due to the desire of the consumer to spend money on eye care is credited with driving the expansion in the artificial cornea implant industry. Also, the main driver of the market’s growth is the rise in ophthalmic illnesses such keratoconus, Fuchs dystrophy, and viral keratitis. Also, the worldwide market for artificial corneal implants is growing as a result of increased healthcare expenditures for eye treatments in developing countries. Also, factors including the growth in surgical operations and the need for cutting-edge treatment options may cause the market to grow.
COVID Impact
The COVID-19 pandemic gave a negatively impact on the Artificial Corneal Implants business market. The sales in the sector started to drop during the COVID-19 epidemic. Product sales noted a brief fall as a consequence of factors including global lockdowns, limits on needless human mobility, and the suspension of economic activity by governments in an effort to stop the spread of this virus. The epidemic significantly reduced the amount of human cornea donated. For instance, a study in the British Journal of Ophthalmology found that in 2022, procurements of human cornea tissue fell by 38%, 68%, and 41% from March, April, and May of the previous year. The COVID-19 pandemic outbreak aided the industry in integrating new products, and this pattern is anticipated to continue in the next years.
Regional Trend
Geographically, North America dominated the Artificial Corneal Implants market and had the largest revenue share of 59% in 2022. The growth in this region can be attributed to due to the residence of significant market participants, effective reimbursement procedures, and rising corneal implant-related R&D efforts are the elements anticipated to fuel the region’s continued expansion. For instance, the Institute of Regenerative Medicine and CorneaGen have collaborated to develop corneas by the replication of stem cells. In 2021, Europe had the second-largest industry share. Procedures for placing corneal implants have significantly advanced throughout the years throughout Europe, particularly in the U.K., Germany, Italy, and Spain.
Key players operating in the Artificial Corneal Implants Market include AJL Ophthalmic SA, Alabama Eye Bank, Inc., Alcon, Inc., Aurolab, Cornea Biosciences, CorneaGen Inc., CorNeat Vision, DIOPTEX GmbH, EyeYon Medical, Florida Lions Eye Bank, KeraMed, Inc., LinkoCare Life Sciences AB, Massachusetts Eye & Ear, Mediphacos, Presbia PLC, Price Vision Group and San Diego Eye Bank among others. In July 2022, Precise Bio and Carl Zeiss Meditec established a cooperation for the creation and marketing of tissue-based implants for ophthalmology.
According to CDC estimates from June 2020, over 12 million Americans aged 40 and above experienced eye impairment in 2020. As a result, the high rate of visual impairment in the area has increased the number of ophthalmic procedures, which in turn has increased the need for corneal implants.
Based upon the Type in the Artificial Corneal Implants market is segmented in Human Cornea and Artificial Cornea. The Artificial Cornea dominated the Artificial Corneal Implants market in 2021. These implants are known as artificial corneas and can be further divided into fully synthetic (made of polymethyl methacrylate (PMMA) or titanium) and semi-synthetic (based on collagen). Moreover, it is anticipated that the lack of human corneas combined with an increase in the incidence of visual impairment brought on by corneal opacification would fuel the segment’s rise throughout the course of the projection period.
End user segment of Artificial Corneal Implants market is further bifurcated into Hospitals & Ambulatory Surgical Centers and Specialty Clinics. The Hospitals & Ambulatory Surgical Centers segment held major share of the global market in 2021. Demand for medical equipment, including Artificial Corneal Implants, is high in Hospitals & Ambulatory Surgical Centers due to the rising number of patients visiting for treatment.
• Human Cornea
• Artificial Cornea
• Penetrating Keratoplasty
• Endothelial Keratoplasty
• Anterior lamellar keratoplasty
• Keratoconus
• Fuchs Dystrophy
• Infectious Keratitis
• Corneal Ulcers
• Hospitals & Ambulatory Surgical Centers
• Specialty Clinics
Frequently Asked Questions:
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter’s Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?