Corneal Implants Market Size to Hit Around USD 808.57 million by 2033
The global corneal implants market size was exhibited at USD 418.80 million in 2023 and is projected to hit around USD 808.57 million by 2033, growing at a CAGR of 6.8% during the forecast period of 2024 to 2033.
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Key Takeaways:
Owing to the increased prevalence of ophthalmic diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis. According to a report published by the National Institutes of Health (NIH), approximately 10-15% of patients diagnosed with keratoconus require to undergo a corneal implant procedure at some point. Corneal blindness is the third-leading cause of blindness after glaucoma and cataract affecting 10 million people globally. According to an article published by the World Health Organization (WHO) in 2021, over 2.2 billion individuals worldwide had near or distant vision impairment in 2021, and 4.2 million people had corneal opacities.
Type Insights
The human tissue segment dominated the market with the largest revenue share of 91.8% in 2023. Enhanced Visual Acuity (VA) outcomes and a high success rate of the human cornea, which is reported to be as high as 95% with minimal requirements of repeated follow-ups, are some of the factors contributing to the largest revenue share of this segment. The synthetic type segment is estimated to grow at the fastest CAGR of 7.3% during the forecast period. These implants are called artificial corneas and can be further classified as semi-synthetic (collagen-based) and purely synthetic (polymethyl methacrylate).
Surgery Method Insights
The penetrating keratoplasty segment dominated the market with the largest revenue share of 53.3% in 2023. Penetrating keratoplasty is the common procedure for corneal transplant owing to its known safety and efficacy. According to the Eye Bank Association of America, 46% of the cornea produced by the eye bank was used for penetrating keratoplasty. In recent times, its adoption rate has slowly failed due to the availability of alternative methods showing promising results. However, its relative advantages over newer approaches, such as avoiding stromal interface and efficiency in treating large central perforations, are expected to uphold its market share. The endothelial keratoplasty segment is expected to grow at the fastest CAGR of 7.1% over the forecast period.
Application Insights
The Fuchs dystrophy segment dominated the market with the largest revenue share of 52.8% in 2023 and is expected to grow at the fastest CAGR of 6.7% over the forecast period from 2023 to 2033. The rising geriatric population, which is at a higher risk of developing Fuchs dystrophy, is expected to drive the growth of this segment. The incidence of Fuchs dystrophy, a condition affecting the cornea, is anticipated to escalate as the global population ages. This increasing prevalence underscores the growing necessity for treatment modalities like corneal implants. Moreover, the current reliance on donor corneas for conventional corneal transplantation poses challenges due to limited availability.
End-use Insights
The hospital's end-use segment dominated the market with the largest revenue share of 59.0% in 2023. The presence of highly skilled surgeons, the rising number of patients, and access to transnational eye banks are the factors expected to drive the segment growth. Rapid technological advancements are attributed to the developed infrastructure leading to the hospital segment growth. The ambulatory surgical centers (ASCs) segment is expected to grow at the fastest CAGR of 7.1% over the forecast period. The growing popularity of ASCs is expected to help boost the growth of this segment over the forecast period. Corneal implant procedures are performed on an outpatient basis in most care settings.
Regional Insights
North America dominated the market and accounted for the largest share of 59.0% in 2023. The presence of major market players, efficient reimbursement policies, and increasing R&D activities related to corneal implants are the factors expected to drive market growth in the region. For instance, CorneaGen announced a partnership with the Institute of Regenerative Medicine to develop corneas from the replication of stem cells. Asia Pacific is expected to grow at the fastest CAGR of 7.7% over the forecast period. The presence of several emerging markets and highly unmet clinical needs in countries, such as China, Indonesia, and the Philippines, are expected to drive the region’s growth.
For instance, in January 2023, a union hospital in China affiliated with the Tongji Medical College at Huazhong University of Science and Technology in Wuhan completed its first artificial cornea transplant surgery successfully in a 25-year-old female. These factors are expected to drive the region’s growth. Europe is expected to grow at a lucrative CAGR of 7.2% over the forecast period. Corneal implant procedures have improved over the years in European countries, especially in the UK, Germany, Italy, and Spain. The region has faced a shortage of corneal tissue due to a decreased number of corneal donations. Moreover, the procurement of cornea from other countries is expensive and should also match the home resources. Considering this situation, the Opt-out system of organ donation has been adopted across countries in the region to promote corneal donation, thereby driving market growth.
Some of the prominent players in the corneal implants market include:
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global corneal implants market.
Type
Surgery Method
Application
End-use
By Region
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