North America Artificial Cornea and Corneal Implant Market
No. of Pages: 109 | Report Code: TIPRE00025843 | Category: Life Sciences
No. of Pages: 109 | Report Code: TIPRE00025843 | Category: Life Sciences
An artificial cornea implant is a surgery to eliminate all or part of a damaged cornea and replace it with healthy donor tissue. But, currently, there shortage of cornea donors worldwide, and eye and tissue banking is also not carrying in many countries. Meanwhile, there is always the possibility that the human eye will reject the transplantation, which can cause infection or lack of vision. Cornea Implant is usually performed under certain conditions such as keratoconus, degenerative disease, or other. The artificial cornea tissue can be made up of polymer plastic such as silica material. Artificial cornea implant is of two types, i.e., synthetic cornea implant and biosynthetic cornea implant.
Strategic insights for the North America Artificial Cornea and Corneal Implant provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 162.29 Million |
| Market Size by 2028 | US$ 272.13 Million |
| Global CAGR (2021 - 2028) | 7.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Artificial Cornea and Corneal Implant refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The North America artificial cornea and corneal implant market is expected to reach US$ 272.13 million by 2028 from US$ 162.29 million in 2021; it is estimated to grow at a CAGR of 7.7% from 2021–2028. The growth of the market is attributed to key factors such as the growing prevalence of eye diseases that can cause corneal blindness and rising elderly population. However, the expensive ophthalmology surgeries and devices hamper the market growth.
Corneal diseases are the second-leading cause of blindness worldwide, after cataract. According to the World Health Organization (WHO), at least 2.2 billion people in the world will have near or far vision impairment by February 2020. These 1 billion people include people with moderate or severe distance vision impairment or blindness due to refractive errors (88.4 million), cataracts (94 million), glaucoma (7.7 million), corneal opacity (4.2 million), diabetes Retinopathy (3.9 million), trachoma (2 million), and near vision weakness due to unresolved presbyopia (826 million). Population growth and aging would further propel the risk of visual impairment among a larger number of people. According to the National Eye Institute, the number of persons suffering from cataract would rise from 24.4 million in 2010 to ~50 million by 2050. As populations age and average life expectancy continues to increase worldwide, the number of people with cataracts will continue to grow. Furthermore, people over 60 years of age; steroid users; and family members of those who have been diagnosed with glaucoma; people suffering from diabetes, high myopia, and hypertension, and eye injuries are at a greater risk of glaucoma. Thus, the rising prevalence of eye diseases that causes corneal blindness worldwide highly demands artificial cornea and corneal implant. Also, the rise in geriatric population is fuelling the artificial cornea and corneal implant market growth.
The COVID-19 outbreak in North America had a significant impact on the US. Various healthcare research centers across the country were solely focused on COVID-19 treatments. On the other hand, to prevent the spread of the novel coronavirus, the number of patient visits to clinics decreased significantly in the first and second quarters of 2020. As a result, the number of elective eye procedures performed per week in hospitals and clinics has decreased over time. According to an article in Ophthalmology Times, the number of elective procedures has decreased from 200 to only 10 each week in U.S. In addition, the number of patient visits to examination facilities has decreased by 15% in countries, such as the US. Also, it is predicated that the volume of ophthalmic practice has decreased by 81%, owing to a decline in patients seeking care for glaucoma (88%) and cataract surgery (81%) (97%). During this time, government assistance such as Paycheck Protection Program loans aided many practices, allowing the ophthalmic business to successfully resume operations. Ophthalmologists will benefit from such a scenario since it will allow them to resume their work safely.
The Europe artificial cornea and corneal implant market, based on type, is bifurcated into human cornea and artificial cornea. In 2021, the human cornea segment held a larger share of the market. However, the artificial cornea segment is expected to register a higher CAGR during the forecast period.
The Europe artificial cornea and corneal implant market, by transplant type, is segmented into penetrating keratoplasty, endothelial keratoplasty, and others. In 2021, the penetrating keratoplasty segment held the largest share of the market. However, the market for the endothelial keratoplasty segment is expected to grow at the highest rate in the coming years.
The Europe artificial cornea and corneal implant market, by disease indication, is segmented into Fuchs’ Dystrophy, keratoconus, fungal keratitis, and others. The Fuchs’ Dystrophy segment held the largest share of the market in 2021, whereas the fungal keratitis segment is anticipated to register the highest CAGR of the market during the forecast period.
The Europe artificial cornea and corneal implant market, based on end user, is segmented into hospitals, specialty clinics and ASCs, and others. The specialty clinics and ASCs segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR of the market during the forecast period.
A few of the primary and secondary sources associated with this report on the North America artificial cornea and corneal implant market are the Eye Bank Association of America (EBAA), Centers for Disease Control and Prevention (CDC) and World Health Organization (WHO).
The North America Artificial Cornea and Corneal Implant Market is valued at US$ 162.29 Million in 2021, it is projected to reach US$ 272.13 Million by 2028.
As per our report North America Artificial Cornea and Corneal Implant Market, the market size is valued at US$ 162.29 Million in 2021, projecting it to reach US$ 272.13 Million by 2028. This translates to a CAGR of approximately 7.7% during the forecast period.
The North America Artificial Cornea and Corneal Implant Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Artificial Cornea and Corneal Implant Market report:
The North America Artificial Cornea and Corneal Implant Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Artificial Cornea and Corneal Implant Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Artificial Cornea and Corneal Implant Market value chain can benefit from the information contained in a comprehensive market report.
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