Global ocular implant market was valued at USD 10.24 Billion in 2016. It is forecast to grow at 6.7% CAGR over the forecast period. Ocular implants are in high demand due to an increase in the prevalence of ophthalmic diseases such as glaucoma and scleritis. The reasons for dry eye and diabetic retinalopathy are a sedentary lifestyle that can lead to diabetes and strain on the eyes from long hours at the computer.
Cataract is also a leading cause of blindness, accounting for 51.0% of all blindness worldwide. Market growth is being driven by cataracts, an age-related condition. The market is growing due to technological advancements, increased acceptance of vision correction procedures, as well as rapid adoption of intraocular lense for cataract surgery. A new collagen glaucoma implants that are biodegradable and inhibit the formation of scar has been created.
The market can be classified by product type: intraocular lenses (corneal lenses), orbital implants, orbital implant, glaucoma Implants, ocular prosthesis and others. In 2016, the glaucoma segment held the largest market share and will continue to dominate the market for the forecast period. The fastest-growing segment is expected to be intraocular lenses.
Because of their long use in presbyopia and nearsightedness, intraocular lenses are becoming increasingly popular. These segments will see a lot of growth over the forecast period. Glaucoma is the leading cause of blindness worldwide. Glaucoma was reported by the Glaucoma Research Foundation in 2016. It affected approximately 3.0 million Americans in 2016. Market growth is expected to be fueled by the rising incidence of Glaucoma.
The market can be divided into four segments based on application: glaucoma surgery (oculoplasty), drug delivery (AMD), and aesthetics. The increasing prevalence of glaucoma meant that the glaucoma surgery segment accounted for the largest percentage. This disease is becoming more common and there is a greater demand for early treatment.
AMD is the fastest-growing segment. These implants transmit the image captured to the brain via telescopic lenses. Market growth is expected to rise due to technological advances and AMD prevalence.
Based on their end use, the global ocular implants market can be divided into hospitals, specialty eye institutes and ophthalmic clinics. Because of increasing frequency of treatment for visual impairment in hospitals, the hospital segment is the largest. However, specialty eye institutes are expected to grow rapidly due to rising demand for remote eye care services.
According to the National Science Foundation, 44.0% of the U.S. government's allocated funds were used for R&D in 2015 pertaining to healthcare and eye research institutes. This segment is expected to witness lucrative growth due to an increase in intraocular lens clinical trials and increased government spending on R&D.
North America dominated the global market for ocular implant markets and it is expected to continue its dominance. The regional market is growing due to an increase in the aging population as well as the availability of reimbursement options.
Due to rising diabetes rates and increased government healthcare spending, the Asian market will experience the fastest growth. Due to their rapid growth, the Asia Pacific region's developing countries like Japan and China are expected be the most successful.
Due to increasing cases of blindness and rising costs for eye care, both individuals and the government are spending more on it.
Bausch & Lomb and Alcon are some of the major players in this market. Market demand will rise due to the availability of assistive financial assistance and the increase in reported visual impairments. This should encourage new players into the market.
To maintain market share, players have various strategies. These include collaborations and agreements with other industry players. STAAR Surgical Corporation, for example, announced a cooperative agreement to the World Eye Hospital Group. This strategic cooperation enabled the company to be the largest provider of refractive surgery treatment solutions in South East Europe. It is expected to provide lucrative opportunities for the company in the region during the forecast period.
This report predicts revenue growth at the global, regional and country levels. It also provides analysis of the most recent trends and opportunities in each sub-segment from 2014 through 2025. Up Market Research segmented the market for ocular implants based on product, region, and end-use.
Product Outlook (Revenue USD Million, 2014-2025)
Intraocular lenses
Corneal implants
Implants for orbital surgery
Glaucoma implants
Ocular prosthesis
Other
App Outlook (Revenue USD Million, 2014-2025)
Glaucoma surgery
Oculoplasty
Drug delivery
Age-related macular degeneration
Aesthetic purpose
End-use Outlook (Revenue USD Million, 2014-2025)
Hospitals
Institutes for specialties in eye care
Clinics
Regional Outlook (Revenue USD Million, 2014-2025)
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
MEA
South Africa
Saudi Arabia
b. Global ocular implant market was valued at USD 12.5 billion in 2019, and is forecast to grow to USD 13.3 billion by 2020.
How is the market for ocular implants growing?b. Global ocular implant market is expected to grow at 6.7% compound annual growth rate from 2017 to 2025, reaching USD 18.5 billion in 2025.
Which segment had the largest market share for ocular implants?b. With a 38.5% share in 2019, North America was the dominant market for ocular implants, This can be attributed to the growing geriatric population in the region and favorable reimbursement.
What are the major players in the ocular implant market?b. Bausch & Lomb and Alcon are some of the key players in the ocular implant market.
What are the driving factors for the market for ocular implants?b. Market growth is being driven by several key factors, including the increasing prevalence of ophthalmic conditions such as glaucoma and scleritis and Age-Related Macular Degeneration. Also, there are higher acceptance of vision correction procedures and technological advances.
Up Market Research published a new report titled “Ocular Implants Market research report which is segmented by Product (Ocular Prosthesis, Corneal Implants, Intraocular Lenses, Glaucoma Implants), By Players/Companies Johnson & Johnson, Bausch & Lomb, Alcon, Carl Zeiss, STAAR surgical, MORCHER GmbH”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Ocular Implants Market Research Report |
By Product | Ocular Prosthesis, Corneal Implants, Intraocular Lenses, Glaucoma Implants |
By Companies | Johnson & Johnson, Bausch & Lomb, Alcon, Carl Zeiss, STAAR surgical, MORCHER GmbH |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 240 |
Number of Tables & Figures | 168 |
Customization Available | Yes, the report can be customized as per your need. |
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.
The market is segmented by Product (Ocular Prosthesis, Corneal Implants, Intraocular Lenses, Glaucoma Implants).
Ocular 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:
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.
We have studied the Ocular 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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