Penetrating Keratoplasty (PK) to Held the Largest Market Share in 2020
According to Absolute Markets Insights report, penetrating keratoplasty (PK) accounted for the higher market share in 2020 and is expected to maintain its dominance over the forecast period (2021-2029) in the global corneal implants market. Penetrating keratoplasty (PK) is the common and successful tissue transplantation worldwide, and it has been the standard of care for some corneal diseases that cause visual impairment. Penetrating keratoplasty has remained a popular and a common procedure for corneal transplants. However, the rising demand for disease-focused transplant techniques has supplanted the one-size-fits-all approach of traditional penetrating keratoplasty with increasingly refined surgical options tailored to specific indications. The increasing number of endothelial keratoplasty grafts is anticipated to support the segment's growth in the upcoming years. For instance, in 2019, The Eye Bank Association of America reported that the number of penetrating keratoplasty implants increased by 0.4 percent and endothelial keratoplasty increased by 1 percent, mainly due to a 23 percent increase in Descemet Membrane Endothelial Keratoplasty (DMEK) procedures.
Since the developing world carries most of the load of corneal blindness, the main causes of corneal blindness are active keratitis and corneal scar. The development of corneal transplantation services needs a wide-ranging approach encompassing medical standards in eye banking, training of cornea specialists, and exposure of ophthalmologists to care of corneal transplants for better follow-up care. The rigorous efforts medical professionals have made to develop and implement prevention strategies since most corneal blindness is preventable are expected to support the market's steady growth. There is a significant connection between blindness and aging. According to a scientific survey, approximately 58% of all blind people are more than 60 years old, and only 3.8% of the global total are between 0 and 15 years old. Therefore, the large consumer base for cornea implants due to a rising aging population is anticipated to drive the global corneal implants market growth over the forecast period.
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The major players operating in the market are focusing on the launch of several new products to increase their prominence in the global corneal implants market. For instance, in June 2020, AJL Ophthalmic got CE Mark approval for ENDO-K PRO. This product approval will allow AJL Ophthalmic to provide this product to several end-users. Similarly, in January 2020, Mediphacos introduced Keraring Intrastromal Corneal Ring. This new product launch will enable the company to increase its revenue.
In terms of revenue, the global corneal implants market was valued at US$ 394.69 Mn in 2020, growing at a CAGR of 6.8% over the forecast period (2021 – 2029).
How Absolute Market Insights is unique in nature?
The research report on Corneal Implants Market will include extensive information based on the following pointers:
- Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Market Determinants and Influencing Factors
- Macro-Economic and Micro-Economic Indicators
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Challenges
- Trends on Global Corneal Implants Market
- Exclusive Details on the Effect of the Pandemic
- Porter’s Five Forces Analysis
- Competitor Landscape
- Product Benchmarking
- Market Share Analysis, 2020
- Global Presence and Growth Strategies
- The final report will include competitive product benchmarking which will include comparison of different products offered by different market participants on the basis of their features and capabilities that will help you to understand their market offerings. Furthermore, for each company, we will provide information regarding company details, company overview, product offerings, key developments, financial analysis, and SWOT analysis and business strategies.
- Research study focusing on specific regions, including North America, Europe, Asia Pacific, Middle East & Africa and Latin America are also available.
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Key Findings:
- By type, the human cornea segment registered for the major share of revenue in the global corneal implants market in 2020. The artificial corneal segment is however anticipated to register highest growth rate over the forecast period.
- The fuchs' dystrophy disease indication accounted for the highest share in the corneal implants market. The segment is anticipated to retain its dominance over the period of next eight years.
- Endothelial keratoplasty (EK), which is among the most recent approaches in corneal implant procedures, is anticipated to register highest growth rate over the forecast period. The healthcare professionals are increasingly relying on this procedure to overcome the challenges associated with the penetrating keratoplasty (PK) implant procedure.
- Hospitals segment accounted for the major share in 2020. However, ambulatory surgical centers are anticipated to showcase prominence over the forecast period in the global corneal implants market owing to the increase in number of corneal implant procedures.
- North America region dominated the global corneal implants market in terms of revenue in 2020. Asia Pacific region is projected to witness highest growth rate over the forecast period. Rapid increase in the geriatric population along with increasing investments towards development of healthcare infrastructure in the region is contributing towards the region’s growth in the global market.
Competitor Insights:
The key companies profiled in the global corneal implants market are mentioned below:
- AJL Ophthalmic, S.A.
- Aurolab
- CorneaGen
- CorNeat Vision
- EyeYon Medical
- L V PRASAD EYE INSTITUTE
- LinkoCare Life Sciences AB
- Presbia PLC
- SightLife
- Swissmed Pte Ltd
- Other Market Participants
The wide product portfolio of the players operating in the global corneal implants market and their strong distribution network across the globe is attributed to the prominence of a few players in the global market. These players are emphasizing on the acquisition of other small or niche players to increase their market share in the global market. These players are emphasizing collaborations with relevant stakeholders to increase their revenue in the upcoming years.
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Global Corneal Implants Market:
- By Type
- Artificial Cornea
- Human Cornea
- By Disease Indication
- Keratoconus
- Myopia
- Fuchs' Dystrophy
- Infectious Cornea
- Others
- By Procedure Type
- Penetrating Keratoplasty (PK)
- Endothelial Keratoplasty (EK)
- By End Users
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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