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- Corneal Implants Market Segmented By Artificial Cornea Implant, Ocular Implants, Corneal Transplant, with Small Aperture Corneal implantable Devices, Corneal reshaping Implantable Devices, Refractive Corneal Implantable Devices implant type with Presbyopia, Hypermetropia, Myopia, Astigmatism indication
The global corneal implants market was valued at US$ 18.5 million in 2018, and is expected to expand at healthy CAGR of 13% from 2019 to 2029. Corneal implants have turned out to be promising devices for the correction of decreased near vision in presbyopic people who desire spectacle-independence.
The broad spectrum of treatment approach is available from non-surgical to surgical techniques for the correct management of presbyopia. With recent advances in biocompatible materials, corneal implants make a strong case within the treatment spectrum.
Improved patient outcomes with reducing associated ocular surgical complication are playing a vital role in the growth of the corneal implants market. Moreover, increase in the demand for corneal implants from ophthalmologists and eye surgeons to reduce the risk of post-operative complications is expected to be an important factor surging market growth.
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- CorneaGen (SightLife Surgical)
- Presbia PLC
- DIOPTEX Medizinprodukte Forschungs-, Entwicklungs- und Vertriebs GmbH
Added Clinical Advantages Fuelling Market Growth
With advancements in biocompatible material, corneal implants are important within the treatment spectrum, and provide additional clinical benefits to presbyopic patients. Several clinical investigations have shown promising results in the correction of presbyopia, with clear and good vision at near, intermediate, and far distances.
High safety profile is documented as compared to other risks associated with ocular surgery, as it does not remove any corneal tissue, and thus, minimizes the risk of ectasia. Moreover, corneal implants are reversible in nature, as they can be explanted if the patient is dissatisfied.
Additionally, corneal inlay procedures can be done simultaneously with other laser refractive surgeries such as LASIK (laser in-situ keratomileusis) and PRK (photorefractive keratectomy) to treat ametropia and presbyopia. They can also be performed on patients who have undergone cataract surgery with intraocular (IOL) implantation.
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Competitive Landscape of Corneal implants Market
The market is characterized as a fragmented landscape, with a few players across the globe such as CorneaGen (SightLife Surgicals), Presbia PLC, and Dioptex. Investments in R&D to get marketing approval forms the key strategy being adopted by manufacturers in the corneal implants market.
In Oct 2018, Presbia received a notification from the FDA that required additional safety and efficacy related information to review post marketing applications (PMA) for Microlens.
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Europe to Dominate Corneal implants Market
Europe holds a noteworthy market share in the global corneal implants market with 43% of total revenue, and the market expected to expand at a high CAGR of 14% during the forecast period. Rising prevalence of presbyopia, increasing elderly population, availability of all types of corneal inlays, increased accessibility to healthcare facilities, and rising demand from ophthalmologists are the key factors that are expected to contribute to the dominance of Europe in the global corneal implants market.
Increase in research & development activities, under clinical investigation of two implants, and increase in the demand for corneal inlays have made North America the second-most lucrative region in the corneal implants market, which is expected to progress at a noteworthy CAGR of 13% during the forecast period.
Further, continuous rise in the demand for advanced technologies and expansion of private hospitals and eye clinics in rural areas are boosting the demand for corneal implants in Asia Pacific.
Explore Persistence Market Research’s expertise in promulgation of the business !
The research report on the corneal implants market provides recommendations, overview of the market, and estimation of market growth over the next decade. Technology innovation leading to new product launches, rising demand for corneal inlays, increasing geriatric population, and increasing prevalence of presbyopia are responsible for the growth of the market at an impressive rate, with North America and Europe holding substantial share of the global corneal implants market. Solid monetary position and new collaborations for the effective management of intravenous infusion are expected to drive the growth of the global corneal implants market over the coming years.
Key Segments of Corneal implants Market
PMR’s study on the corneal implants market offers information divided into four important segments — implant type, indication, end user, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Questions Answered in PMR’s Corneal Implants Market Report
- Which regions will continue to remain the most profitable regional markets for corneal implants market players?
- Which factors will induce a change in the demand for corneal implants during the assessment period?
- What are the different opportunities available for emerging players in the corneal implants market?
- How are supply-side and demand-side drivers impacting the corneal implants market?
- How will changing trends impact the corneal implants market?
- How can market players capture the low-hanging opportunities in the corneal implants market in developed regions?
- Which companies are leading the corneal implants market?
- What are the winning strategies of stakeholders in the corneal implants market to upscale their position in this landscape?