Corneal Implants Market Size Worth $795.0 Million by 2033: The Brainy Insights

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Corneal implants market size from USD 439.8 million in 2023 to USD 795.0 million in 10 years. The increasing incidence of corneal diseases drives the market’s growth. North America emerged as the largest global corneal implants market, with a 48.9% market revenue share in 2023.

Newark, Feb. 26, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 439.8 million corneal implants market will reach USD 795.0 million by 2033. During corneal transplantation, artificial or donor corneas are used to replace the lost cornea. The cornea is replaced during this treatment with an artificial or donor cornea. The donor corneas used in transplants are stored in eye bank storage media. Furthermore, recipients of corneas from human donors who cannot tolerate the tissue may select an artificial cornea. The cornea plays a crucial role in the eye by protecting internal eye tissues, helping with refractive power, and focusing light on the retina with the least amount of scatter and optical degeneration. Depending on the severity of the conditions, corneal transplantation is required for several disorders, including keratoconus, Fuchs dystrophy, keratitis, corneal scarring, corneal ulcers, and corneal oedema. The primary factor propelling the corneal implant market is the rise in the incidence of corneal illnesses. Conditions include keratoconus, Fuchs dystrophy, keratitis, corneal scarring, corneal ulcers, and corneal oedema, necessitating corneal transplantation. For example, the Corneal Research Foundation of America estimates that between 50 and 200 persons out of every 100,000 have keratoconus. According to a study, the prevalence in the US is 54.5 per 100,000 persons. As a result, the growing incidence of corneal illnesses fuels the industry’s expansion in corneal implants. Additionally, the market is growing due to the rise in corneal blindness and the demand for corneal transplants in emerging nations.

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Key Insights on Corneal Implants Market

North America will account for the largest market size during the forecast period.

The United States has held the largest market share in North America and is anticipated to continue to do so during the projection period. The rising market growth in the region can be attributed to various causes, including the growing awareness of eye donation in the area and the existence of multiple organisations. For example, the EBAA observes Eye Donation Month in November to increase public awareness of corneal donation and transplantation. Such programmes will probably lead to more eye operations in the nation.

The human cornea segment dominated the market with the most significant revenue of USD 259.4 million.

The human cornea segment dominated the market with the most significant revenue of USD 259.4 million. Improved visual acuity (VA) results and a high success rate (estimated to be as high as 95%) for human corneas with no need for repeated follow-ups contribute to this segment’s largest revenue share.

The penetrating keratoplasty segment dominated the market with the most significant revenue of USD 237.4 million.

The penetrating keratoplasty segment dominated the market with the most significant revenue of USD 237.4 million. Penetrating keratoplasty (PKP) is the standard approach for treating keratoconus patients with excellent optical and visual outcomes for those with corrected visual acuity or are intolerant of contact lenses. It is the primary method for treating ectatic corneal disease.

The fuchs dystrophy segment dominated the market with the most significant revenue of USD 123.1 million.

The fuchs dystrophy segment dominated the market with the most significant revenue of USD 123.1 million. The innermost layer of the cornea, the corneal endothelium, gradually deteriorates in Fuchs dystrophy, a degenerative eye disorder. This issue has become more common and can cause discomfort and vision impairment. This is expected to increase the demand for corneal implants during the forecast period.

The hospital segment dominated the market with the most significant revenue of USD 189.1 million.

The hospital segment dominated the market with the most significant revenue of USD 189.1 million. The availability of global eye banks, the predominance of highly competent surgeons, and the growing patient population are expected to expand the segment. Rapid technical improvements are linked to the improved infrastructure that has contributed to the growth of the hospital segment.

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Market Dynamics:

Drivers: Surge in prevalence of corneal disorders

The rise in the prevalence of corneal disorders is primarily driving the market for corneal implants. It may become necessary to undergo corneal transplantation due to conditions such as keratoconus, Fuchs dystrophy, keratitis, corneal scarring, corneal ulcers, and corneal edoema. According to estimates from the Corneal Research Foundation of America, keratoconus affects between 50 and 200 individuals out of 100,000. Studies show that for every 100,000 people in the US, there are 54.5 cases. Because corneal disorders are becoming more widespread, the market for corneal implants is growing. Further encouraging the market’s growth is the necessity of corneal blindness therapies.

Restraint: Shortage of donor

It is projected that the scarcity of donor cornea will impede the expansion of the corneal implant industry. There is a great need for corneal donors since, according to the Cornea Research Foundation of America, almost 10 million people globally require corneal transplants. Due to a shortage of donor tissue, only 100,000 corneal transplants are carried out year worldwide; this has been called an international public health disaster. Due to a serious shortage of donor corneas, people with corneal blindness in densely populated countries like India must wait more than six months for a corneal transplant. Because corneal blindness is so common and corneal donors are in short supply, the corneal implant market is predicted to suffer.

Opportunity: Increasing healthcare expenditure

The expansion of the corneal implant market is also fueled by the rise in healthcare spending in recent years. For example, National Health Expenditure (NHE) increased by 2.7% in 2021, or $12,914 per person, and accounted for 18.3% of GDP, according to the Centres for Medicare & Medicaid Services. Therefore, throughout the corneal implants market forecast period, factors such as rising healthcare expenditure and infrastructure, shifting government policies in the healthcare sector, rising disposable income, and the growth of the pharmaceutical industry are anticipated to propel the growth of the global corneal implant market.

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Some of the major players operating in the corneal implants market are:

● AJL Opthalmic SA
● KeraMed, Inc
● CorNeat Vision
● LinkoCare Life Sciences AB
● DIOPTEX
● Aurolab
● CorneaGen
● Presbia Plc
● Mediphacos
● EyeYon Medical

Key Segments cover in the market:

By Type:

● Synthetic
● Human Cornea

By Surgery Method:

● Endothelial Keratoplasty
● Penetrating Keratoplasty

By Application:

● Fuchs Dystrophy
● Corneal Ulcers
● Keratoconus
● Infectious Keratitis
● Others

By End-User:

● Ambulatory Surgical Centers
● Ophthalmic Centers
● Hospitals

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About the report:

The global corneal implants market is analyzed based on value (USD million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter’s five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.

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