Global Artificial Cornea and Corneal Implant Market

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

Q: What is the global market size of Artificial Cornea and Corneal Implant Market?

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).

Report ID: SQMIG35B2204 | Region: Global | Published Date: May, 2024
Pages: 219 | Tables: 115 | Figures: 71

Artificial Cornea and Corneal Implant Market News

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 Market Report Snapshots

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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).

Artificial cornea and corneal implant providers can focus on taking advantage of the growing awareness regarding eye care in developing countries to amplify their 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. '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'

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.

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.

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 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.

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