USD 437 million
Artificial Cornea and Corneal Implant Market Size, Share, Growth Analysis, By Type(Human Cornea and Artificial Cornea), By Transplant Type(Penetrating Keratoplasty, Endothelial Keratoplasty, Anterior lamellar Keratoplasty, and Keratoprosthesis), By Disease Indication(Fuchs' Dystrophy, Fungal Keratitis, Keratoconus, and Others), By End User(Hospitals & Ambulatory Surgical Centers and Specialty Clinics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2204 |
Region:
Global |
Published Date: May, 2024
Pages:
219
|Tables:
115
|Figures:
71
Artificial Cornea and Corneal Implant Market Insights
Global Artificial Cornea and Corneal Implant Market size was valued at USD 437 million in 2022 and is poised to grow from USD 471.52 million in 2023 to USD 866.3 million by 2031, growing at a CAGR of 7.9% in the forecast period (2024-2031).
The surging prevalence of ophthalmic diseases and the growing willingness of consumers to spend more on eye care are key factors that are projected to bolster the demand for artificial cornea and corneal implants over the coming years. Growing awareness regarding eye donation and an increasing number of organ donors around the world are also supplementing the growth of the global artificial cornea and corneal implant market. Increasing availability of easy and reliable eye transplant procedures and growing reimbursement for eye procedures around the world are also slated to push the sales of artificial cornea and corneal implants across the forecast period and beyond. However, the high costs of artificial cornea and corneal implants in certain parts of the world are slated to be a key restraint for artificial cornea and corneal implant market development going forward. The rapidly expanding geriatric population around the world is setting the tone for high artificial cornea and corneal implant demand in the long run.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Human Cornea
Fastest Growth
Artificial Cornea
Growth Rate
7.9% CAGR
Global Artificial Cornea and Corneal Implant Market ($ Bn)
Country Share for North America Region (%)
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Artificial Cornea and Corneal Implant Market Segmental Analysis
The global artificial cornea and corneal implant market is segmented based on type, transplant type, end user, disease indication, and region. In terms of type, the market is segmented into Human Cornea and artificial Cornea. Based on transplant type, the market is bifurcated into Penetrating Keratoplasty, Endothelial Keratoplasty, Anterior lamellar keratoplasty, and Keratoprosthesis. Based on end user, the market is bifurcated into Hospitals & Ambulatory Surgical Centers, and Specialty Clinics. In terms of disease indication, the market is segmented into Fuchs' Dystrophy, Fungal Keratitis, Keratoconus, and others. Based on region, the market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Analysis by Type
The human cornea accounts for a major chunk of the global artificial cornea and corneal implant market share and is slated to maintain a similar stance throughout the forecast period. More eye donors worldwide are also slated to help this segment expand rapidly. Emerging countries are slated to witness a robust hike in demand for human cornea going forward.
On the other hand, the sales of artificial cornea are slated to increase at a rapid pace over the coming years. Growing advancements in ophthalmic technologies and the growing acceptance of artificial cornea are key factors that could augment the growth of this segment across the forecast period. The increasing willingness of people to spend more on eye care and the shortage of human cornea donors in certain parts of the world will also bolster the sales of artificial cornea in the long run.
Analysis by End User
Hospitals & ambulatory surgical centers account for a massive chunk of the global artificial cornea and corneal implant market share, and this can be attributed to the high number of eye surgeries performed in these establishments. Increasing hospitalization for eye diseases and the high availability of better eye care equipment and reimbursement for these establishments are also contributing to the dominant stance of this segment.
Meanwhile, increasing preference for minimally invasive eye surgeries around the world is allowing the demand for artificial cornea and corneal implant to rapidly rise in specialty clinics. Faster recovery times and better services offered by specialty clinics are also contributing to the rapid growth of this segment. Evolving patient preferences are pivotal in determining the demand for artificial cornea and corneal implants in specialty clinics over the coming years.
Global Artificial Cornea and Corneal Implant Market By Type
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Artificial Cornea and Corneal Implant Market Regional Insights
High number of eye infections and the high availability of different eye care services allow North America to account for a massive chunk of the global artificial cornea and corneal implant market share. The growing willingness of people to spend on eye care, the availability of advanced eye care treatments, and the presence of a developed healthcare infrastructure are other key factors that allow this region to hold sway over others. The United States is the leading country for artificial cornea and corneal implant providers in this region followed by Canada.
Asia Pacific is slated to emerge as the fastest-growing regional market in the world for artificial cornea and corneal implant companies. The rapidly increasing senescent population in this region is a key factor driving up the demand for artificial cornea and corneal implants over the coming years. High investments in healthcare infrastructure development and a growing focus on eye care are also estimated to create new opportunities for artificial cornea and corneal implant providers in the Asia Pacific region. Japan, China, India, and South Korea are predicted to be the most rewarding markets for artificial cornea and corneal implant companies in the Asia Pacific region going forward.
Global Artificial Cornea and Corneal Implant Market By Region
- Largest
- Fastest
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Artificial Cornea and Corneal Implant Market Dynamics
Drivers
High Prevalence of Corneal Disorders
- The growing aging population and increasing screen exposure are key factors that have led to a high prevalence of corneal disorders around the world. The increasing need for corneal transplantation to treat the disorders will bolster artificial cornea and corneal implant demand going forward.
Advancements in Ophthalmic Technologies
- Increasing use of advanced biomaterials coupled with better tissue engineering is allowing companies to make highly advanced artificial cornea products. Moreover, rising availability of advanced ophthalmic technologies is also estimated to bolster artificial cornea and corneal implant market growth in the future.
Restraints
Limited Reimbursement
- Corneal transplantation procedures are not widely covered and reimbursed under different healthcare insurances, which is why most people have to pay it out of their pockets. These procedures are expensive and the unwillingness of patients to spend a high amount on these procedures could hamper market development.
High Costs of Procedure
- Corneal implantation procedures are often costly due to complex equipment and expensive corneal implants, whether human or artificial. Hence, these high costs are estimated to impede artificial cornea and corneal implant market growth in the long run.
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Artificial Cornea and Corneal Implant Market Competitive Landscape
Artificial cornea and corneal implant providers can focus on taking advantage of the growing awareness regarding eye care in developing countries to amplify their global revenue generation scope. artificial cornea and corneal implant companies can also collaborate and partner with healthcare insurance providers to create favorable reimbursement policies. artificial cornea and corneal implant market players are also estimated to focus on improving their sales potential by launching innovative new products and services that could help them stay ahead of the competition.
Top Player’s Company Profiles
- Presbia plc
- San Diego Eye Bank
- AJL Ophthalmic
- EyeYon Medical
- DIOPTEX GmbH
- Florida Lions Eye Bank
- Mediphacos,
- Cornea Biosciences
- Aurolab
- Advancing Sight Network
- CorneaGen Inc.
- LinkoCare Life Sciences AB
- CorNeat Vision
- SightLife
Recent Developments
- In November 2023, an ophthalmic medical device company called Pantheon Vision was launched with USD 2.5 million in seed funding. The company intended to use the funding to develop bioengineered corneal implants to treat patients suffering from corneal blindness.
- In June 2023, Shroff Eye and Pandorum Technology collaborated to develop a bioengineered cornea that can directly integrate to the patient’s cornea in less than 10 minutes. The companies were seeking approval for human trials from DGCI.
- In August 2022, a team of researchers and scientists from Hyderabad developed the first 3D-printed cornea in India. They also successfully tested it on a rabbit, proving its potential to be used effectively among humans soon.
Artificial Cornea and Corneal Implant Key Market Trends
- Minimally Invasive Surgeries: Artificial cornea and corneal implant providers should focus on making their products more accessible for minimally invasive treatments as patients worldwide prefer these surgeries over traditional ones. Market players can also emphasize providing favorable reimbursement for these procedures to amplify their business scope.
Artificial Cornea and Corneal Implant Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the high prevalence of eye disorders and the growing geriatric population are estimated to be key factors driving the demand for artificial cornea and corneal implants over the coming years. Increasing healthcare expenditure and a rising focus on eye care are also slated to benefit artificial cornea and corneal implant sales in the future. However, high costs of treatment and limited reimbursement for corneal transplantation procedures are forecasted to slow down artificial cornea and corneal implant market development across the forecast period and beyond. North America is estimated to hold sway over the global artificial cornea and corneal implant demand outlook owing to the presence of a developed healthcare infrastructure and rising spending on eye care. artificial cornea and corneal implant market players can capitalize on the growing preference for minimally invasive surgeries to maximize their revenue generation potential in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 437 million |
| Market size value in 2031 | USD 866.3 million |
| Growth Rate | 7.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Artificial Cornea and Corneal Implant Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Artificial Cornea and Corneal Implant Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Artificial Cornea and Corneal Implant Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Cornea and Corneal Implant Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Cornea and Corneal Implant Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Artificial Cornea and Corneal Implant Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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