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What is the Estimated Growth Rate for the Corneal Implants Market Between 2024 and 2033?

The market size for corneal implants has seen a robust expansion in the past years. The market is expected to surge from $1.28 billion in 2023 to $1.38 billion in 2024, displaying a compound annual growth rate (CAGR) of 7.3%. The substantial growth during the past period can be credited to the initiation of ground-breaking surgical procedures, the early development in biomaterials, the rise of keratoplasty, increased cognizance of eye disorders, and the pioneering efforts of surgeons.

Significant expansion is predicted for the corneal implants market over the coming years, anticipated to rise to a value of $1.77 billion by 2028. This represents a compound annual growth rate (CAGR) of 6.5%. Various factors are expected to fuel this growth during the forecast period, including a personalized approach to medicine, improved accessibility and awareness, novel biomaterials development, the increase in refractive surgeries and an aging population on the rise. The period is also characterized by key trends like the introduction of minimally invasive procedures, enhanced regulatory support and approvals, increased awareness and accessibility, advancements in biomaterials, and an upsurge in refractive surgery.

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What Are the Primary Contributors to the Growth of the corneal implants Market?

The escalating occurrence of corneal disorders is projected to stimulate the corneal implant market’s expansion. Corneal disorders encompass various medical conditions affecting the cornea – the eye’s clear, dome-shaped front surface, causing visual impairment and discomfort. The escalated number of corneal disorders has resulted in a spike for corneal implants since they present numerous treatment options, enhancing the cornea’s integrity, mitigating symptoms, and augmenting vision. For example, as per the Center for Disease Control (CDC), – a US-based federal agency – in December 2022, the number of cataracts cases (a type of corneal disorder) among individuals aged 40 and above is approximately 20.5 million in the United States, which is about 17.2% of people in that demographic. Moreover, this figure is anticipated to surpass 30 million by 2028. Consequently, the escalating occurrence of corneal disorders is fuelling the expansion of the corneal implant market.

Which Key Segments Comprise the Corneal Implants Market?

1) By Implant Type: Artificial Corneal Implant, Human Corneal Implant

2) By Procedure Type: Endothelial Keratoplasty, Penetrating Keratoplasty, Other Procedure Types

3) By Application: Keratoconus, Fuchs Dystrophy, Infectious Keratitis, Corneal Ulcers, Other Applications

4) By End-User: Hospitals, Ophthalmic Center, Other End-Users

What Are the Key Trends Reshaping the Corneal Implants Market?

Prominent corporates in the corneal implants sector are creating novel products like synthetic corneal implants to fulfill the needs of a broader customer spectrum, augment sales, and enhance revenue. Synthetic corneal implants are artificial mechanisms designed to substitute or mend damaged or diseased segments of the cornea — the clear upfront part of the eye, encapsulating the iris, pupil, and anterior chamber. For example, in June 2021, EyeYon Medical, a medical ophthalmic device firm based in Israel, revealed the CE mark and FDA certification for EndoArt. Recognized as the first synthetic corneal implant designed to tackle corneal edema, EndoArt offers a safe and less invasive solution. Constructed to adhere to the posterior corneal surface, the cutting-edge implant acts as a substitute for non-operational endothelium. Its unique feature is its capacity to improve visual sharpness for people in the queue for corneal tissue transplants. Furthermore, in the situations of transient edema, EndoArt distinguishes itself by possibly eliminating the requirement for transplantation in its entirety.

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What Are the Top Regions Fueling Growth in the Corneal Implants Market?

North America was the largest region in the cornea implants market in 2023. Asia Pacific is expected to be the fastest-growing region in the global cornea implants market during the forecast period. The regions covered in the corneal implants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Corneal Implants Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the corneal implants market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Corneal Implants Market Include

1. Corneal Implants Market Executive Summary

2. Corneal Implants Market Segments

3. Corneal Implants Market Size And Template Market Growth Rate

4. Key Corneal Implants Market Trends

5. Major Corneal Implants Market Drivers

……

25. Key Mergers And Acquisitions In The Corneal Implants Market

26. Top Corneal Implants Companies

27. Corneal Implants Market Opportunities And Strategies

28. Corneal Implants Market, Conclusions And Recommendations

29. Appendix

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