How is the Corneal Implants Market Poised for Growth: Trends and Opportunities Through 2034
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How has the corneal implants market size evolved in recent years?
In recent years, there has been a significant increase in the size of the corneal implants market. Its growth is forecasted to continue from $1.34 billion in 2024 to $1.43 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. Factors such as innovative surgical procedures, early innovations in biomaterials, the advent of keratoplasty, an increased understanding of eye disorders, and the pioneering work of surgeons, have contributed to this growth in the historic period.
What are the predictions for the corneal implants market size in the coming years?
The market size of corneal implants is anticipated to witness a significant rise in the coming years, potentially reaching “$1.9 billion by 2029 with a compound annual growth rate (CAGR) of 7.4%. This surge projected in the forecast period can be credited to the adoption of personalized medicine methods, heightened accessibility and awareness, breakthroughs in biomaterials development, increase in corrective eye surgeries, and the expanding older population. Key trends observed during the forecast period incorporate the introduction of minimally invasive procedures, regulatory backing and approval, heightened awareness and accessibility, advancements in biomaterials, and surge in corrective eye surgery.
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What key factors are fueling the growth of the corneal implants market?
The rise in the frequency of corneal conditions is predicted to spur the expansion of the corneal implant market. Medical ailments that impact the cornea – a transparent, dome-like front area of the eye causing visual discomfort and impairment are referred to as corneal disorders. This upsurge in corneal disorders has led to an escalating need for corneal implants, offering an assortment of options to address corneal abnormalities, increase corneal integrity, alleviate symptoms and boost vision. For instance, records from the Center for Disease Control (CDC), a US-based federal agency, reveal that, as of December 2022, about 20.5 million individuals aged 40 and above in the United States suffer from cataracts (a type of corneal disorder). This statistic represents approximately 17.2% of the population within that age demographic, which could exceed 30 million by 2028. Consequently, the growth seen in the frequency of corneal disorders is spurring the expansion of the corneal implant market.
How is the global corneal implants market divided into key segments?
The corneal implants market covered in this report is segmented –
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
Subsegments:
1) By Artificial Corneal Implant: Keratoprosthesis, Artificial Cornea
2) By Human Corneal Implant: Donor Cornea, Preserved Cornea
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Who are the key firms paving the way for growth in the corneal implants market?
Major companies operating in the corneal implants market include Florida Lions Eye Bank Inc., Alcon Inc., Aurolab Aravind Eye Care System, CorneaGen, AJL Ophthalmic SA, DIOPTEX Co. Ltd., KeraMed Inc., Alabama Eye Bank Inc., CorNeat Vision Ltd., MediPhacos, EyeYon Medical Ltd., Linkocare Life Sciences AB, Price Vision Group, Cornea Biosciences LLC, Massachusetts Eye and Ear Infirmary, Carl Zeiss Meditec AG, Precise Bio Inc., Bausch & Lomb Incorporated, Johnson & Johnson Vision, Abbott Medical Optics Inc., STAAR Surgical Company, ZEISS Group, Hoya Corporation, Rayner Intraocular Lenses Limited, HumanOptics AG, Morcher GmbH, Lenstec Inc., Ocular Systems Inc., Moria SA, DORC International BV, Coroneo Pty Ltd, FCI Ophthalmics Inc.
Which trends are expected to transform the corneal implants market?
Prominent players in the corneal implants market are prioritizing the development of innovative techniques for contouring the cornea to improve vision correction and treat a variety of corneal disorders. Advanced surgical methods and devices that aim to adjust the form of the cornea for better vision and to alleviate refractive mistakes or corneal illnesses are examples of such innovative corneal contouring solutions. For instance, CorneaGen, a medical devices developer based in the United States that aims to eradicate corneal blindness, unveiled a highly effective corneal contouring solution called Corneal Tissue Addition for Keratoplasty (CTAK) for keratoconic eyes in June 2024. CTAK introduces a unique procedure that involves supplementing the existing cornea with donor corneal tissue instead of completely replacing it. This technique intends to reinstate the cornea’s natural contour, thereby enhancing optical clarity.
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What regions are contributing significantly to the growth of the corneal implants market?
North America was the largest region in the cornea implants market in 2024.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
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