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The artificial cornea and corneal implant market 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.
An artificial cornea implantation surgery is performed to remove all or a part of the damaged cornea, followed by replacing it with healthy donor tissue. Currently, there is a shortage of cornea donors worldwide, and eye and tissue banking processes are in initial stages in many countries. Meanwhile, there is always a possibility that the human eye would reject the transplant, which can cause an infection to eye or the lack of vision. Cornea Implant is usually performed to treat conditions such as keratoconus and certain degenerative diseases. The artificial cornea tissue is made from polymer plastic such as silica material. Artificial cornea implant is of two types synthetic cornea implant and biosynthetic cornea implant.
The Artificial Cornea and Corneal Implant 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.
Lucrative Regions in Artificial Cornea and Corneal Implant Market
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Market Insights
3D Printed Artificial Corneas to Come up as Significant Future Trend in Artificial Cornea and Corneal Implant Market
3D printed artificial corneas made from stem cells and acellular corneal stroma have a potential to replace donated cornea in eye surgery. A team of researchers from the Pohang University of Science and Technology, and the Kyungpook National University School of Medicine in South Korea collaborated to 3D print artificial corneas using tissue-based bio-inks; the research has been published in "Biofabrication." Since the 3D printed corneas are made from corneal tissue materials, they are biocompatible, and the corneal microenvironment is reproduced through 3D cell printing technology to make them transparent, like human cornea. The 3D printed artificial corneas also help overcome the complications related to synthetic cornea implant in patients with cataracts and other ocular complications.
Researchers at Newcastle University have also developed a 3D printed artificial cornea for the first time. After examining the eyes of a volunteer, they collected enough data to create a 3D model of the cornea. organization engineer explained that one of the most difficult aspects of this projects is using the right materials to maintain the concave shape and finding ink that that is thin enough to spray through the nozzles of the 3D printer. With just one healthy human cornea, they can 3D print 50 artificial corneas, which is a breakthrough in ophthalmology. Furthermore, one of the key advantages of 3D printing is that collagen can be deposited in layers, which allows for the simulation of the composition of collagen fibers in the natural corneal matrix. Thus, upon their successful commercialization for clinical usage, the 3D printed biocorneas are likely to emerge as a significant trend in the artificial cornea and corneal implant market.
Type-Based Insights
The artificial cornea and corneal implant market, by type, is segmented into human cornea and artificial cornea. The human cornea segment is likely to hold a larger share of the market in 2021; however, the artificial cornea segment is expected to register a higher CAGR of 7.9% during the forecast period.
Artificial Cornea and Corneal Implant Market, by Type – 2021 and 2028
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Transplant Type-Based Insights
By transplant type, the artificial cornea and corneal implant market is segmented into penetrating keratoplasty, endothelial keratoplasty, and others. The penetrating keratoplasty segment is likely to hold the largest share of the market in 2021; however, the endothelial keratoplasty segment is expected to register the highest CAGR during 2021–2028.
Disease Indication-Based Insights
The artificial cornea and corneal implant market, by disease indication, is segmented into Fuchs’ Dystrophy, keratoconus, fungal keratitis, and others. The Fuchs’ Dystrophy segment is likely to hold the largest share of the market in 2021; however, the fungal keratitis segment is anticipated to register the highest CAGR of 7.8% during the forecast period.
End User-Based Insights
The artificial cornea and corneal implant market, by end user, is segmented into hospitals, specialty clinics and ASCs, and others. The specialty clinics and ASCs segment would hold the largest share of the market in 2021, and it is anticipated to register the highest CAGR of 7.8% in the market during the forecast period.
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Artificial Cornea and Corneal Implant Market: Strategic Insights
Market Size Value in US$ 421.86 million in 2021 Market Size Value by US$ 696.18 million by 2028 Growth rate CAGR of 7.4% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Artificial Cornea and Corneal Implant Market: Strategic Insights
| Market Size Value in | US$ 421.86 million in 2021 |
| Market Size Value by | US$ 696.18 million by 2028 |
| Growth rate | CAGR of 7.4% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
Akshay
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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the laboratory developed test market players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name globally.
The report segments artificial cornea and corneal implant market as follows
Based on type, artificial cornea and corneal implant market is segmented into human cornea, and artificial cornea. Based on transplant type, the artificial cornea and corneal implant is segmented into penetrating keratoplasty, endothelial keratoplasty, others. Based on disease indication, the artificial cornea and corneal implant is segmented Fuchs’ Dystrophy, keratoconus, fungal keratitis, others. Based on end user, the artificial cornea and corneal implant is segmented into hospitals, specialty clinics and ASCs, others. On the basis of geography, the artificial cornea and corneal implant 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).
Company Profiles
- AJL OPHTHALMIC S.
- ADVANCING SIGHT NETWORK
- Aurolab
- CORNEA BIOSCIENCES INC.
- LinkoCare Life Sciences AB
- KERAMED, INC.
- EyeYon Medical
- Florida Lions Eye Bank
- Corneat Vision
- CorneaGen
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Transplant Type, Disease Indication, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Africa, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Korea, Southeast Asia, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
An artificial cornea implantation surgery is performed to remove all or a part of the damaged cornea, followed by replacing it with healthy donor tissue. Currently, there is a shortage of cornea donors worldwide, and eye and tissue banking processes are in initial stages in many countries. Meanwhile, there is always a possibility that the human eye would reject the transplant, which can cause an infection to eye or the lack of vision. Cornea Implant is usually performed to treat conditions such as keratoconus and certain degenerative diseases. The artificial cornea tissue is made from polymer plastic such as silica material. Artificial cornea implant is of two types—synthetic cornea implant and biosynthetic cornea implant.
The growth of the artificial cornea and corneal implant market 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. In February 2021, EyeYon Medical, an Israeli start-up involved in developing ophthalmic products for vision-threatening conditions, announced that it has received CE Mark for its EndoArt, after conducting clinical trials demonstrating its safety and efficacy in the treatment of chronic corneal edema which is contributing to the growth of the target market. Such strategic steps are also projected to drive the market growth.
The growth of the region is attributed to factors such as rising public–private partnerships, and increasing funding activities are widely enhancing the performance of medical devices. Moreover, presence of well-developed healthcare infrastructure and government support are some of the prominent factors propelling the market growth in Asia Pacific. In Asia Pacific, India is the largest market for artificial cornea and corneal implant. The market growth in Asia Pacific is mainly attributed to factors such as the growing geriatric population, increasing incidents of eye diseases, large number of product launches. However concerns high cost of ophthalmology surgeries and devices s hinders the market growth in Asia Pacific.
Researchers at Newcastle University have also developed a 3D printed artificial cornea for the first time. After examining the eyes of a volunteer, they collected enough data to create a 3D model of the cornea. Organization engineer explained that one of the most difficult aspects of this projects is using the right materials to maintain the concave shape and finding ink that that is thin enough to spray through the nozzles of the 3D printer. With just one healthy human cornea, they can 3D print 50 artificial corneas, which is a breakthrough in ophthalmology. Furthermore, one of the key advantages of 3D printing is that collagen can be deposited in layers, which allows for the simulation of the composition of collagen fibers in the natural corneal matrix. Thus, upon their successful commercialization for clinical usage, the 3D printed biocorneas are likely to emerge as a significant trend in the artificial cornea and corneal implant market
The artificial cornea and corneal implant is led by type artificial cornea segment is growing significantly due to the increasing attention to the development of artificial corneal implants. The growing research in cornea is playing a vital role in developing artificial cornea and corneal implant. For instance researchers at Newcastle University have also developed a 3D printed artificial cornea for the first time. After examining the eyes of a volunteer, they collected enough data to create a 3D model of the cornea
The List of Companies - 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
- CorneaGen
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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