Artificial Cornea and Corneal Implant Market Analysis and Forecast to 2031: By Type (Human Cornea, Artificial Cornea), Transplant Type (Penetrating Keratoplasty, Endothelial Keratoplasty, Anterior Lamellar Keratoplasty, Keratoprosthesis), Disease Indication (Fuchs’ Dystrophy, Fungal Keratitis, Keratoconus, Others), End Users (Hospitals & Ambulatory Surgical Centers, Speciality Clinics), and Region
The global artificial cornea and corneal implants market size was USD 420 Mn in 2021 and is anticipated to reach USD 752 Mn in 2031, growing at a rate of 6.0 % from 2022 to 2031.
A cornea transplant (keratoplasty) is a surgical procedure to substitute part of the cornea with corneal tissue from a donor. The cornea is the transparent, dome-shaped surface of the eye. It's where light enters the eye and is a large part of the eye's ability to see clearly. A cornea transplant may restore vision, reduce pain, and improve the appearance of a damaged or diseased cornea. Most cornea transplant procedures are successful. But cornea transplant carries a small risk of complications, like the rejection of the donor cornea.
Scope of the Report
Global Cornea and Corneal Implants Market DriversIncreasing Prevalence of eye diseases
The number of people with major eye diseases is increasing worldwide, and vision loss is becoming a major public health concern. The growth in the aging population coupled with the increasing prevalence of chronic disorders like diabetes and hypertension have raised the prevalence of eye diseases such as diabetic retinopathy and ocular hypertension (glaucoma). The number of blind individuals or those affected with low vision is also expected to increase extensively. According to the Royal National Institute of Blind People (RNIB), in 2013, around 2 million people in the UK were living with vision loss, and this figure is likely to increase to 4.1 million by 2050. Presently, there are 146 million people worldwide with trachoma, of which 10 million suffer from trichiasis and need surgery to prevent corneal blindness and 4.9 million individuals are completely blind from trachomatous corneal scarring. Moreover, as per the “World Report on Vision 2019” by WHO, nearly 2.2 people worldwide have vision impairment or blindness. This figure includes several eye conditions that include moderate to severe distance vision impairment or blindness owing to unaddressed refractive errors (123.7 million) and presbyopia (1.8 billion, including both addressed and unaddressed presbyopia), age-related macular degeneration (10.4 million), cataract (65.2 million), corneal opacities (4.2 million), glaucoma (6.9 million), trachoma (2 million), diabetic retinopathy (3 million), and other causes (37.1 million), and people with mild vision impairment with unknown causes (188.5 million).
Global Cornea and Corneal Implants Market OpportunitiesShortage of corneal donors
There is a significant requirement for corneal donors across the globe, as approximately 10 million people need corneal transplants. Densely populated counties such as India suffer from a significant shortage of donor corneas, and there is a waiting period of more than six months for corneal transplants among patients suffering from corneal blindness. Approximately 6.8 million people in the country have poor vision in one eye, and nearly one million people have poor vision in both eyes due to corneal disorders. It was anticipated that by the end of 2020, India would suffer from 10.6 million cases of unilateral corneal blindness. In 2019, around 120,000 people were affected by corneal blindness. About 250,000 corneas are needed annually in the country; still, the total number of corneas donated each year is around 25,000. The high burden of corneal blindness, combined with a shortage of corneal donors, is likely to offer high-growth opportunities to manufacturers of corneal implants.
Global Cornea and Corneal Implants Market RestraintsHigh cost of ophthalmology devices and surgical procedures
Technological advancements in ophthalmic lasers, like the development of femtosecond lasers, have reduced surgery times and improved procedural outcomes and convenience. But, the high cost of these instruments is expected to restrain their growth. According to a study conducted by the Singapore Eye Research Institute (SERI), the cost of a femtosecond laser was USD 400,000–USD 550,000. This affects their adoption among end users, as it is difficult to estimate the number of patients choosing femtosecond laser therapy over conventional methods and whether the number of patients choosing the therapy will cover the installation cost of the laser. Likewise, the cost of an OCT ranges from USD 70,000 to USD 120,000, and the cost of new fundus machines range from USD 15,000 to USD 60,000.
Impact of COVID-19 on Cornea and Corneal Implant Market
Due to the COVID-19 outbreak, there has been a significant drop in the number of patient visits to clinics in the first and second quarters of 2020 owing to lockdowns and constraints implemented to prevent the spread of the disease. This has led to a decline in the number of elective eye surgeries being conducted per week in hospitals and clinics during the forecast period. According to the Ophthalmology Times article, elective surgeries have reduced from 200 surgeries to only ten surgeries a week. Additionally, countries like the US have witnessed 15% cancellations in the number of patient visits to examination centers. According to the same article, ophthalmology lost a significant share of patient volume during the coronavirus disease (COVID-19) pandemic. It is estimated that ophthalmic practice volume fell by 81%, led by declination in patients seeking care for glaucoma (88%) and cataract surgery (97%). During this period, government programs helped many practices, like Paycheck Protection Program loans, which helped the ophthalmic industry to restart its operations successfully.
Cornea and Corneal Implant Market Segmental Analysis
The report covers the cornea and corneal implant market by type, transplant type, disease indication, end-user, and region.
Global Cornea and Corneal Implant Market by Type
The various types comprised in the global cornea and corneal implant market are the human cornea and artificial cornea.
The human cornea segment is likely to hold a major market share during the forecast period. The key factors boosting the growth of the market are rising awareness regarding corneal transplantation and eye tissue donations majorly in developing countries.
Global Cornea and Corneal Implant Market by Transplant Type
The various transplant types comprised in the global cornea and corneal implant market are penetrating keratoplasty, endothelial keratoplasty, anterior lamellar keratoplasty, and Keratoprosthesis.
The penetrating keratoplasty segment is likely to hold the majority of the market share during the forecast period. The factors boosting market growth are the rising number of people suffering from eye disorders such as infectious keratitis and injury of the eyeball.
Global Cornea and Corneal Implant Market by Disease Indication
The various disease indications comprised in the global cornea and corneal implant market are fuchs’ dystrophy, fungal keratitis, keratoconus, and others.
The fuchs’ dystrophy segment is likely to hold a major market share during the forecast period. The key factors such as the increasing incidence of the disease and the growing awareness among people regarding early disease diagnosis are driving the market growth.
Global Cornea and Corneal Implant Market by End User
The various end user such as hospitals & ambulatory surgical centers and specialty clinics are comprised in the artificial cornea and corneal implants market.
The hospitals & ambulatory surgical centers segment is likely to dominate the global cornea and corneal implant market during the forecast period. The key factors such as rising incidences of corneal blindness coupled with increasing cases of trauma cases is propelling the growth of the global cornea and corneal implant market.
Geographical Analysis of Global Cornea and Corneal Implant Market
The global cornea and corneal implant market is studied for key countries of the regions such as North America, Europe, Asia Pacific, and the Rest of the World.
North America is likely to hold the majority of the market share of the global cornea and corneal implant market. The market is well established in North America, with the US dominating the market in this region. The large share of North America is mainly attributed to the established healthcare infrastructure combined with higher adoption of sophisticated healthcare technologies, higher budget among end users of ophthalmologic devices, and a large number of manufacturers for corneal implants in the regions.
Market Players of Global Cornea and Corneal Implants Market
Key Developments in Global Cornea and Corneal Implants Market
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