The new report by Expert Market Research titled, ‘Global Ocular Implants Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global Ocular Implants market, assessing the market based on its segments like product, application, end use and major regions like North America, Europe, Asia Pacific, Middle East and Africa and Latin America. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 12.6 Billion
- Forecast CAGR (2023-2028): 6%
- Forecast Market Size (2026): USD 18.1 Billion
Ever increasing geriatric population and increase in ocular diseases like cataract and glaucoma have driven the market in the historical period. The developments in medical diagnostic technologies and increased awareness within the Populus has driven the growth of the market.
Industry Definition and Major Segments
Ocular implants are surgically inserted artificial devices used after enucleation, evisceration, or orbital exenteration to restore vision sharpness. The size, form and strength of the ocular implant depends on the patient. Various non-integrated and integrated components, including hydroxyapatite, Medpor and bio-ceramic, are used for ocular implants. Analysis and studies have shown that porous integrated implants (hydroxyapatite) can present certain risks and complications, such as extrusion, dehiscence, or infections. Nanostructured biomaterials currently deliver higher rates of healing and proliferation at low prices and lower post-operative complications. Ocular implants also have targeted and sustained drug delivery applications for the treatment of ophthalmological disorders ranging from glaucoma to diabetic retinopathy.
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Based on the product, the market is bifurcated into:
- Intraocular Lenses
- Orbital Implants
- Ocular Prosthesis
- Glaucoma Implants
- Corneal Implants
On the basis on end use, the industry can be segmented into:
- Specialty Eye Institutes
Based on application, the market is categorised into:
- Glaucoma Surgery
- Drug delivery
- Age-Related Macular Degeneration (AMD)
The regional markets for Ocular Implants include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Regionally, North America is projected to have the significant market share of the global market for ocular implants, followed by Europe and Asia Pacific. This is due to advancements in healthcare technologies, aided by increasing investments in this sector. For instance, Pixium Vision’s Prima System, aims to elicit functional artificial, or bionic, vision in the form of light perception replacing partially the natural central vision loss. According to the World Health Organisation, an estimated 1.3 billion people worldwide suffered some sort of vision impairment in 2018. According to the CDC report, almost 20.5 million (17.2 per cent) people in the U.S. age 40 years and over have cataract in one or both eyes, and 6.1 million (5.1 per cent) have had their lens removed by surgery. The overall number of people with cataract rose to around 30.1 million in 2020. Additionally, according to the article published by the American Academy of Opthalmology, the global prevalence of glaucoma has increased from 64.3 million cases in 2013 to 76.0 million in 2020. The highest prevalence of these cases was recorded in Asian countries, China, India, and Japan, to name a few. This unfortunate increase in diseases and disabilities is expected to propel the growth of the market in the forecast period.
Key Market Players
The major players in the market are Alcon Vision LLC. Carl Zeiss Meditec AG, Johnson & Johnson Vision Care, Inc., MORCHER GmbH and few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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