In 2021, the global market for Artificial Corneal Implants was valued at $ 410 million. AMR Group predicts that the market will reach $697 million by 2031, rising at a CAGR of 6.2 percent between 2022 and 2031.
The artificial cornea and corneal implant industry includes medical devices and implants used to replace or repair damaged corneas. The cornea is the eye’s transparent outermost layer responsible for focussing light onto the retina. Several causes, including corneal diseases, trauma, infections, and genetic disorders, can cause corneal damage or vision loss, necessitating procedures such as corneal transplantation or the use of artificial corneas.
Artificial corneas, often called keratoprostheses, are prosthetic devices used to repair a damaged or diseased cornea. They are usually made of biocompatible materials, such as synthetic polymers or biological tissues, and are designed to restore eyesight by providing a clear optical surface. Artificial corneas can be completely synthetic or made up of both synthetic and biological components. Corneal implants, on the other hand, are devices that supplement or support the natural corneal structure. They are commonly employed in situations where a full corneal replacement is not required. Corneal implants can take the form of rings, segments, or inserts that are inserted within the cornea to reshape it or treat specific vision diseases such as keratoconus.
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Key Players
- 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
- San Diego Eye Bank
Market Drivers
- Shortage of corneal donors: Traditional corneal transplantation relies on donated corneas, which are typically in short supply. Artificial corneal implants offer a dependable option that reduces reliance on donor availability, thereby meeting the growing need for corneal replacement surgeries.
- Low chance of graft rejection: Graft rejection is a significant disadvantage of traditional corneal transplantation. Artificial corneal implants constructed of biocompatible materials considerably lower the risk of rejection, increasing the success rate of corneal surgery.
- Customization and improved outcomes: Artificial corneal implants can be adjusted to each patient’s specific needs, resulting in better visual outcomes. Size, form, optical power, and integration with the patient’s eye are all customizable possibilities, which leads to increased patient satisfaction.
Market Opportunity
Emerging economies: Developing countries with increasing healthcare facilities and rising disposable incomes provide undiscovered prospects in the artificial corneal implant market. As access to advanced ophthalmic care increases, demand for these implants is projected to increase in these areas. Technological advancements: Further research and development in the field of artificial corneal implants has enormous innovation potential. Advances in biomaterials, 3D printing, and regenerative medicine may result in more effective and affordable implants, enhancing commercial prospects.
Collaboration and partnerships: Collaborations among manufacturers, ophthalmic associations, and research institutes can help with knowledge sharing, clinical trials, and market expansion. Collaborative efforts can hasten the implementation of artificial corneal implants and enhance patient outcomes worldwide.
Artificial Corneal Implants Market Regional Trend
North America dominated the Artificial Corneal Implants market, accounting for 59% of total revenue in 2022. Growth in this region is ascribed to the presence of substantial market participants, effective reimbursement procedures, and expanding corneal implant-related R&D initiatives, which are expected to fuel the sector’s continuous expansion. For example, the Institute of Regenerative Medicine and CorneaGen have worked together to generate corneas by stem cell replication. In 2021, Europe held the second-largest industry share. Procedures for inserting corneal implants have evolved greatly over the years in Europe, particularly in the United Kingdom, Germany, Italy, and Spain.
The Asia Pacific region is projected to provide amazing Artificial Corneal Implants market potential because it is expected to expand the fastest throughout the projection period. The field is expected to grow because to the presence of several emerging markets and considerable unmet clinical needs in countries such as China, Indonesia, and the Philippines.
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