Artificial Cornea and Corneal Implant Market Overview:
The global artificial cornea and corneal implant market generated $376.61 million in 2020 and is projected to reach $656.19 million by 2028, growing at a CAGR of 7.9% from 2021 to 2028.
The growth in the artificial cornea implant market is attributed to the willingness of the customer to spend on eye care. Furthermore, increase in prevalence of ophthalmic diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, is the key factor that propels the market growth. Apart from this, increase in healthcare expenditure on eye care in the developing countries boosts the growth of the global artificial cornea implant market. In addition, factors such as increase in number of surgeries and rise in demand for new techniques for the treatment provides growth opportunities for the market. However, high cost associated with cornea implant surgeries poses a threat toward the growth of the global artificial cornea implant market. In addition, side effects of the cornea surgeries prevents mass adoption of cornea implant.
According to the NCBI report, approximately 10-15% of the patients diagnosed with keratoconus have to undergo corneal implant procedure at some point. Corneal blindness is the third leading cause of blindness after glaucoma and cataract affecting 10 million people globally. It is estimated that around 200,000 corneal implant procedures are performed annually. Whereas, still 12.7 million patients are waiting for corneal implants. Furthermore, increase in awareness about the importance of eye donation is expected to boost the market growth. In addition, improvement of eye care facilities, eye banking framework, and cornea trade protocols in the developing countries is expected to contribute toward the rise in demand, thereby supporting the market growth.
The key market players operating in the artificial cornea and corneal implant market are supporting the health systems and healthcare professionals actively attributed to the prevalence of coronavirus (COVID-19) throughout the global community,. During the initial phases of the COVID-19 pandemic, governments across the globe issued limitations and bans on medical procedures and elective surgeries to stop the widely spreading virus. Due to these restrictions, artificial cornea manufacturers faced problems in conducting in-person product demonstrations, operating their facilities at full capacity, and attending or organizing conferences. Moreover, lockdowns in the Asia-Pacific countries such as China and India delayed the production and shipment of ophthalmic devices. These restrictions hampered the demand for ophthalmic procedures.
Rise in geriatric population susceptible to eye diseases drive the artificial cornea and corneal implant industry growth. Moreover, technological advancements coupled with surge in incidence of eye diseases on global level further boost the growth of the corneal implants industry growth. Presence of organizations such as Eye Bank Association of America (EBAA) and The Global Alliance of Eye Bank Associations to promote policies for encouraging effective corneal transplantation render positive impact on the business growth. In addition, rise in awareness regarding eye disease diagnosis is projected to favor corneal implants industry growth during the forecast period.
Furthermore, surge in demand for minimally invasive surgical procedure across the globe is anticipated to positively impact the market growth. Advantages associated with minimally invasive treatments coupled with rise in awareness regarding corneal transplants that provide aesthetic benefits boost the industry growth. Advantages include sharper vision by the first day after surgical procedure, enhanced visual recovery, and reduced risk of rejection. Such advantages drive patient preference for corneal implants thereby, fueling the artificial cornea and corneal implant market growth.
Artificial Cornea And Corneal Implant Market Segmentation
The artificial cornea and corneal implant market is segmented on the basis of type, transplant type, disease indication, end user, and region. By type, the market is divided into human cornea and artificial cornea. By transplant type, it is categorized into penetrating keratoplasty, endothelial keratoplasty, anterior lamellar keratoplasty and keratoprosthesis. By disease indication, the market is divided into Fuchs' Dystrophy, Fungal Keratitis, Keratoconus and others. By end user, the market is segmented into hospitals, ambulatory surgical centers, and speciality clinics. On the basis of region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Spain, Italy, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Segment review
On the basis of type, the human cornea segment is expected to maintain its dominant position throughout the forecast period attributed to the rise in awareness regarding corneal transplantation and eye tissue donations, especially in the developing economies. In addition, by transplant type, the penetrating keratoplasty segment dominated the artificial cornea and corneal implant market in 2019, owing to the adoption of penetrating keratoplasty in the treatment of various corneal pathologies including keratoconus, bullous keratopathy and dystrophies. This is expected to boost the segment growth.
By Type
Human Cornea is projected as one of the most lucrative segment.
By end user, the speciality clinics segment is expected to grow at the highest CAGR during the forecast period attributed to rise in reluctance to in-patient surgeries and demand for minimally invasive procedures.
Patient preference toward effective treatment and concerns regarding hospital-acquired infections further favor the artificial cornea and corneal implant market growth during the forecast period.
By Transplant Type
Penetrating Keratoplasty is projected as one of the most lucrative segment.
Snapshot of Asia-Pacific Artificial Cornea and Corneal Implant Market
Asia-Pacific presents lucrative opportunities for the key players operating in the artificial cornea and corneal implant market, owing to rise in population, particularly geriatric population along with large patient pool in the region suffering from various eye diseases offering numerous growth opportunities to players operating in the corneal implants market. Moreover, various programs for efficient eye-banking skills organized by eye banks and other organizations further drive the Asia Pacific corneal implants industry growth during the forecast period.
The report provides a comprehensive analysis of the leading companies operating in the market are AJL Ophthalmic, CorneaGen Inc., CorNeat Vision, LinkoCare Life Sciences AB, Presbia plc, Mediphacos, Aurolab, Cornea Biosciences, DIOPTEX GmbH, and EyeYon Medical.
By Region
Asia Pacific region would exhibit the highest CAGR of 8.7% during 2021-2028.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the artificial cornea and corneal implant market size, current market trends and future estimations of the market.
- The artificial cornea and corneal implant market analysis is comprehensively covered with respect to the component, application, and region.
- The artificial cornea and corneal implant estimations in this report are based on high-end analysis of the key developments for 2020–2028.
- Recent developments, key manufacturers, and top player positioning are listed in this report to analyze the competitive scenario of the artificial cornea and corneal implant market.
Key Market Segments
By Type
- Human Cornea
- Artificial Cornea
By Transplant Type
- Penetrating Keratoplasty
- Endothelial Keratoplasty
- Anterior lamellar keratoplasty
- keratoprosthesis
By Disease Indication
- Fuchs' Dystrophy
- Fungal Keratitis
- Keratoconus
- Others
By End User
- Hospitals & Ambulatory Surgical Centers
- Specialty Clinics
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Artificial Cornea and Corneal Implant Market Report Highlights
| Aspects | Details |
 By TYPE |
|
 By TRANSPLANT TYPE |
|
 By DISEASE INDICATION |
|
 By END USER |
|
 By Region |
|
 Key Market Players | Cornea Biosciences, CorNeat Vision, Presbia plc, DIOPTEX GmbH, Mediphacos, AJL Ophthalmic, CorneaGen Inc, LinkoCare Life Sciences AB, EyeYon Medical, Aurolab |
Analyst Review
This section provides the opinions of the top-level CXOs in the artificial cornea and corneal implant industry. According to the CXOs, market growth is largely driven by the rise in geriatric population and increase in prevalence of ophthalmic diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, are the major drivers for the artificial cornea and corneal implants market. However, the high cost of ophthalmology devices and surgical procedures is expected to restrain the growth of the market during the forecast period.
According to the perspectives of CXOs of leading companies in the market, rise in prevalence of eye diseases along with the technological advancements in corneal implant devices are the key contributors to the market growth. In addition, increase in government initiatives to control visual impairment are anticipated to increase awareness regarding available latest technologies among patients suffering from eye-associated disorders. Conversely, less accessibility to eye care in low income countries pose a restrain to the market. Whereas, development of advanced artificial cornea by the key manufacturers is expected to open up new avenues for the expansion of the artificial cornea and corneal implant market.
Top companies such as AJL Ophthalmic, CorneaGen Inc., CorNeat Vision, LinkoCare Life Sciences AB, Presbia plc, Mediphacos, Aurolab, Cornea Biosciences, DIOPTEX GmbH, EyeYon Medical.
In transplant type, penetrating keratoplasty segment is the most influencing segment. This segment is expected to exhibit a prominent growth rate, owing to the rising number of people suffering from eye disorders such as infectious keratitis and injury of the eyeball.
The major factor that fuels the growth of the Global Artificial Cornea and Corneal Implant Market includes Rising prevalence of eye diseases, increase in gariatric population and others. furthermore, new product launches to flourish the market. Hence, will contribute to the growth of the market.
Asia-pacific has the highest growth rate in the market which is growing due to the contribution of the emerging country. This is due to improvement in health awareness, development in healthcare infrastructure, and rise in number of hospitals & clinics equipped with advanced corneal implant medical facilities.
The cornea is the transparent part of the eye that covers the front portion of the eye
penetrating keratoplasty, endothelial keratoplasty, anterior lamellar keratoplasty and keratoprosthesis
The total market value of Global Artificial Cornea and Corneal Implant Market is $376.61 million in 2020.
The forcast period for Global Artificial Cornea and Corneal Implant Market is 2021 to 2028
The market value of Global Artificial Cornea and Corneal Implant Market in 2028 is $656.19 million.
The base year is 2020 in Artificial Cornea and Corneal Implant Market
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