Global Corneal Implants Market by End User (ASC, Hospital), by Application (Fuchs Dystrophy, Keratoconus), by Type (Human Cornea, Synthetic) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global corneal implant market was worth USD 386.4 million in 2019. It is expected to grow at a compound annual rate (CAGR), of 6.5% between 2020 and 2027. Market growth is driven by the increasing prevalence of ophthalmic conditions such as Fuchs dystrophy and keratoconus. According to the NCBI, around 10-15% of patients with keratoconus need to have a corneal implant procedure. Corneal blindness, which affects 10 million people worldwide, is the third most common cause of blindness after cataract and glaucoma. Around 200,000 corneal implants are performed each year. Even so, 12.7 million people are still waiting for corneal implant procedures. The gap between demand and supply for corneal implants will drive market growth in the forecast period.

The market is highly interested in collagen-based bio-engineered artificial eyes. This is due to their advantages such as lower cost, biocompatibility and increased safety and effectiveness. LinkCor, a collagen-based artificial eye developed by LinkoCare Life Sciences Ltd., is expected to replace human corneas. The product is currently undergoing regulatory and market approval in many regions. It is expected to become commercially available by 2020.

Market growth is expected to be boosted by increased awareness of the importance and benefits of eye donation. Market growth will also be supported by the improvement of eye care facilities, the eye banking framework, cornea trade protocols, and other measures that support it.

Type Insights

From 2020 to 2027, the synthetic segment will see the highest CAGR at 7.3%. These implants are known as artificial corneas. They can be classified as semi-synthetic or collagen-based, purely synthetic (Polymethyl Methacrylate(PMMA), or titanium-based). The segment growth is likely to be driven by the lack of human corneas and the growing prevalence of visual impairment caused by corneal opacification.

The market share for human cornea was more than 50% in 2019. It is expected that the segment will grow at a healthy CAGR during the forecast period. Its largest market share is due to the high success rate of human cornea (up to 95%, with no repeated follow-ups) and enhanced visual acuity (VA).

Surgery Method Insights

Penetrating Keratoplasty accounted for more than half of the market in 2019, and it will continue to dominate the future. The fastest expected CAGR for the endothelial segment of keratoplasty is from 2020 to 2027. Because of its safety and efficacy, penetrating Keratoplasty is the most common method for corneal transplant.

The Eye Bank Association of America reported that 46% of corneas from the eye bank were used in penetrating Keratoplasty. Its adoption rate has been slowly declining due to the availability other methods that are promising. Its relative advantages over other approaches, such as the avoidance of stromal interfaces and efficiency in treating large central holes, are expected to keep its market share.

Endothelial Keratoplasty, the latest approach to corneal transplantation, replaces only the damaged tissue and not the entire thickness. This allows for faster visual restoration and lower risk of injury to the eye surface. The forecast period will see a significant increase in the number of Fuchs Dystrophy cases.

End-user insights

Hospitals held the largest market share at over 55% in 2019, and are expected to grow at a substantial CAGR during the forecast period. The segment will be driven by the presence of highly skilled surgeons and a rising number of patients. They also have access to transnational eye banks.

Ophthalmic centers held the second largest market share in 2019, and they are expected to grow at a healthy rate over the forecast period. The growth of this segment is expected to be driven by an increasing number of ophthalmologists in practice, growing acceptance for keratoprosthetics and shorter wait times.

Ambulatory Surgical Center (ASC), segment is expected to see the highest CAGR during the forecast period. Most care facilities offer outpatient corneal implant surgery. Because it is a one-day procedure, ASCs are expected to be more open to the idea. These centers are supported both by public and private funding.

Application Insights

The Fuchs dystrophy segment accounted for 52.5% of the market in 2019, and is projected to grow at the fastest rate during the forecast period. The segment is expected to grow due to the rising geriatric population. Keratoconus held a substantial market share in 2019.

The Cancer Research Foundation of America estimates that one fifth of keratoconus patients will reach a point where a corneal implant is necessary to restore normal vision. The segment growth will be boosted by the FDA-approved corneal implants and advanced corneal implant procedures like Deep Anterior Lamellar Keratoplasty.

Fuchs dystrophy and keratoconus are all included in the application segment. In the other segment is the application of corneal implant in post-surgical corneal edema, congenital limbal opacity and mechanical or chemical damage.

Regional Insights

North America occupied the largest market share, with 59% of the total in 2019. The region is expected to grow further due to the presence of key market players, effective reimbursement policies, and increased R&D activities in the field of corneal implants. CorneaGen, for example, has partnered with the Institute of Regenerative Medicine in order to create corneas using the replication of stem cell. In 2019, Europe accounted for the second largest market share. The quality of corneal implant procedures has improved over the years in Europe, particularly in the U.K. Germany, Italy and Spain.

Due to a decrease in corneal donations, the region has experienced a shortage. Additionally, corneal tissue from foreign countries can be expensive and not as affordable as the resources in the country. To address this problem, the Opt-out system for organ donation was adopted in all countries of the region. This promotes corneal donation and drives market growth. Asia Pacific will be the fastest growing region during the forecast period. Market growth will be driven by the presence of many emerging markets and unmet medical needs in countries like China, Indonesia, and Philippines.

Market Share Insights & Key Companies

Global markets are highly fragmented. To increase their market presence, major companies have a variety of business strategies. These include mergers and acquisitions as well product launches. CorneaGen, for example, raised USD 25,000,000 through equity in October 2019 to finance its global market expansion strategy. The market leader in corneal implants is:

• Florida Lions Eye Bank

• Alcon, Inc.

• Aurolab

• CorneaGen

• AJL Ophthalmic SA

• DIOPTEX

• Massachusetts Eye and Ear

• San Diego Eye Bank

• KeraMed, Inc.

• Alabama Eye Bank, Inc.

Up Market Research published a new report titled “Corneal Implants Market research report which is segmented by End User (ASC, Hospital), by Application (Fuchs Dystrophy, Keratoconus), by Type (Human Cornea, Synthetic), By Players/Companies CorneaGen, Massachusetts Eye and Ear, AJL Ophthalmic SA, DIOPTEX, San Diego Eye Bank, KeraMed Inc, Florida Lions Eye Bank, Aurolab, Alabama Eye Bank Inc, Alcon Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Corneal Implants Market Report Segments:

The market is segmented by End User (ASC, Hospital), by Application (Fuchs Dystrophy, Keratoconus), by Type (Human Cornea, Synthetic).

Corneal Implants Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Corneal Implants Market

Overview of the regional outlook of the Corneal Implants Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Corneal Implants Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Corneal Implants Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. ASC

                2. Hospital

                1. Fuchs Dystrophy

                2. Keratoconus

                1. Human Cornea

                2. Synthetic

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Corneal Implants Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Corneal Implants Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.