Artificial Cornea and Corneal Implant Market is expected to reach US$ 696.18 million by 2028

Published Date: 30 Sep 2021

Report : Artificial Cornea and Corneal Implant Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Human Cornea, and Artificial Cornea); Transplant Type (Penetrating Keratoplasty, Endothelial Keratoplasty, and Others); Disease Indication (Fuchs’ Dystrophy, Keratoconus, Fungal Keratitis, and Others); End User (Hospitals, Specialty Clinics and ASCs, and Others)

Artificial Cornea Segment to Lead Market during 2021–2028

 

According to our new research study on “Artificial Cornea and Corneal Implant Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Transplant Type, Disease Indication, and End User,” the market is expected to reach US$ 696.18 million by 2028 from US$ 421.86 million in 2021; it is expected to grow at a CAGR of 7.4% during 2021–2028. The report highlights trends prevailing in the market and factors driving its growth. The market growth is mainly attributed to factors such as the increasing prevalence of eye diseases causing corneal blindness and significant rise in elderly population. However, the high cost of ophthalmology surgeries and devices is hindering the market growth.

 

Based on type, the artificial cornea and corneal implant market is segmented into human cornea and artificial cornea. The human cornea segment is expected to held a larger share of the market in 2021. However, the artificial cornea segment is anticipated to register the highest CAGR in the market during the forecast period. An artificial cornea is a preferred option among patients that are likely to have less tolerance for the corneal implant received from human donors. Continuous advancements in the design of artificial corneal transplant and availability of superior postoperative care have resulted in improved outcomes.

 

Impact of COVID-19 Pandemic on Artificial Cornea and Corneal Implant Market:

The COVID-19 pandemic is adversely affecting industries worldwide. The outbreak led to significant disruptions in primary industries, such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction in 2020. In response to the need to control the spread of the COVID-19 infection among people, hospitals discontinued several services and redirected their operations toward the management of the disease. Moreover, hospitals and healthcare providers has to reassign their specialist doctors to various tasks in ICUs and other COVID-19-related wards. Care receivers also avoided visits to clinics for non-lethal conditions in the first and second quarters of 2020. According to an article in Ophthalmology Times, the number of elective procedures decreased from 200 to only 10 per week in 2020.  These conditions resulted in the slow growth of the artificial cornea and corneal implant market.


AJL OPHTHALMIC S.; ADVANCING SIGHT NETWORK; Aurolab; CORNEA BIOSCIENCES INC.; LinkoCare Life Sciences AB; KERAMED, INC.; EyeYon Medical; Florida Lions Eye Bank; Corneat Vision; and CorneaGen are among the leading companies in the artificial cornea and corneal implant market.

 

Artificial Cornea and Corneal Implant Market, by Region, 2021 (%)

Artificial Cornea and Corneal Implant Market, by Region, 2021 (%)

 

Based on type, the artificial cornea and corneal implant is segmented into human cornea and artificial cornea. The market based on transplant type is segmented into penetrating keratoplasty, endothelial keratoplasty, and others. The artificial cornea and corneal implant, by disease indication, is segmented into Fuchs’ Dystrophy, keratoconus, fungal keratitis, and others. On the basis of end user, the artificial cornea and corneal implant is segmented into hospitals, specialty clinics and ASCs, and others. On the basis of geography, the laboratory developed test market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East and Africa (the UAE, Saudi Arabia, South Africa, and Rest of the Middle East and Africa), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).

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