The North America artificial cornea and corneal implant market is expected to reach US$ 272.13 million by 2028 from US$ 162.29 million in 2021; it is estimated to grow at a CAGR of 7.7% from 2021–2028.
The growth of the Artificial Cornea and Corneal Implant market is attributed to key factors such as the growing prevalence of eye diseases that can cause corneal blindness and rising elderly population. However, the expensive ophthalmology surgeries and devices hamper the market growth.
Corneal diseases are the second-leading cause of blindness worldwide, after cataract. According to the World Health Organization (WHO), at least 2.2 billion people in the world will have near or far vision impairment by February 2020. These 1 billion people include people with moderate or severe distance vision impairment or blindness due to refractive errors (88.4 million), cataracts (94 million), glaucoma (7.7 million), corneal opacity (4.2 million), diabetes Retinopathy (3.9 million), trachoma (2 million), and near vision weakness due to unresolved presbyopia (826 million). Population growth and aging would further propel the risk of visual impairment among a larger number of people. According to the National Eye Institute, the number of persons suffering from cataract would rise from 24.4 million in 2010 to ~50 million by 2050. As populations age and average life expectancy continues to increase worldwide, the number of people with cataracts will continue to grow. Furthermore, people over 60 years of age; steroid users; and family members of those who have been diagnosed with glaucoma; people suffering from diabetes, high myopia, and hypertension, and eye injuries are at a greater risk of glaucoma. Thus, the rising prevalence of eye diseases that causes corneal blindness worldwide highly demands artificial cornea and corneal implant. Also, the rise in geriatric population is fuelling the artificial cornea and corneal implant market growth.
The COVID-19 outbreak in North America had a significant impact on the US. Various healthcare research centers across the country were solely focused on COVID-19 treatments. On the other hand, to prevent the spread of the novel coronavirus, the number of patient visits to clinics decreased significantly in the first and second quarters of 2020. As a result, the number of elective eye procedures performed per week in hospitals and clinics has decreased over time. According to an article in Ophthalmology Times, the number of elective procedures has decreased from 200 to only 10 each week in U.S. In addition, the number of patient visits to examination facilities has decreased by 15% in countries, such as the US. Also, it is predicated that the volume of ophthalmic practice has decreased by 81%, owing to a decline in patients seeking care for glaucoma (88%) and cataract surgery (81%) (97%). During this time, government assistance such as Paycheck Protection Program loans aided many practices, allowing the ophthalmic business to successfully resume operations. Ophthalmologists will benefit from such a scenario since it will allow them to resume their work safely.
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NORTH AMERICA ARTIFICIAL CORNEA AND CORNEAL IMPLANT MARKET SEGMENTATION
By Type
- Human Cornea
- Artificial Cornea
By Transplant Type
- Penetrating Keratoplasty
- Endothelial Keratoplasty
- Others
By Disease Indication
- Fuchs’ Dystrophy
- Keratoconus
- Fungal Keratitis
- Others
By End User
- Hospitals
- Specialty Clinics and ASCs
- Others
By Country
- US
- Canada
- Mexico
Company Profiles
- AJL OPHTHALMIC S.A
- ADVANCING SIGHT NETWORK
- CORNEA BIOSCIENCES, INC
- KERAMED, INC
- EyeYon Medical
- Florida Lions Eye Bank
- CorneaGen
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Artificial Cornea and Corneal Implant Market – By Type
1.3.2 North America Artificial Cornea and Corneal Implant Market – By Transplant Type
1.3.3 North America Artificial Cornea and Corneal Implant Market – By Disease Indication
1.3.4 North America Artificial Cornea and Corneal Implant Market – By End User
1.3.5 North America Artificial Cornea and Corneal Implant Market – By Country
2. Artificial Cornea and Corneal Implant Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Artificial Cornea and Corneal Implant Market – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
5. Artificial Cornea and Corneal Implant Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Prevalence of Eye Diseases Causing Corneal Blindness
5.1.2 Significant Rise in Elderly Population
5.2 Market Restraints
5.2.1 Expensive Ophthalmology Surgeries and Devices
5.3 Market Opportunities
5.3.1 Shortage of Corneal Donors
5.4 Future Trends
5.4.1 3D-Printed Human Corneas
5.5 Impact Analysis
6. Artificial Cornea and Corneal Implant Market –North America Analysis
6.1 North America Artificial Cornea and Corneal Implant Market Revenue Forecast and Analysis
7. Artificial Cornea and Corneal Implant Market Analysis – By Type
7.1 Overview
7.2 Artificial Cornea and Corneal Implant Market, by Type 2021 & 2028 (%)
7.3 Human Cornea
7.3.1 Overview
7.3.2 Human Cornea: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Artificial Cornea
7.4.1 Overview
7.4.2 Artificial Cornea: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
8. Artificial Cornea and Corneal Implant Market Analysis – By Transplant Type
8.1 Overview
8.2 Artificial Cornea and Corneal Implant Market, by Transplant Type 2021 & 2028 (%)
8.3 Penetrating Keratoplasty
8.3.1 Overview
8.3.2 Penetrating Keratoplasty: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Endothelial Keratoplasty
8.4.1 Overview
8.4.2 Endothelial Keratoplasty: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
9. Artificial Cornea and Corneal Implant Market Analysis – By Disease Indication
9.1 Overview
9.2 Artificial Cornea and Corneal Implant Market Revenue Share, by Disease Indication (2021 and 2028)
9.3 Fuchs’ Dystrophy
9.3.1 Overview
9.3.2 Fuchs’ Dystrophy: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Keratoconus
9.4.1 Overview
9.4.2 Keratoconus: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Fungal Keratitis
9.5.1 Overview
9.5.2 Fungal Keratitis: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
10. Artificial Cornea and Corneal Implant Market Analysis – By End User
10.1 Overview
10.2 Artificial Cornea and Corneal Implant Market Revenue Share, by End User (2021 and 2028)
10.3 Hospitals
10.3.1 Overview
10.3.2 Hospitals: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Specialty Clinics and ASCs
10.4.1 Overview
10.4.2 Specialty Clinics and ASCs: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
10.5 Others
10.5.1 Overview
10.5.2 Others: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
11. Artificial Cornea and Corneal Implant Market –North America Analysis
11.1 North America: Artificial Cornea and Corneal Implant Market
11.1.1 Overview
11.1.2 North America: Artificial Cornea and Corneal Implant Market - Revenue and Forecast to 2028 (USD Million)
11.1.3 North America Artificial Cornea and Corneal Implant Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.4 North America Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
11.1.5 North America Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
11.1.6 North America Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
11.1.7 North America: Artificial Cornea and Corneal Implant Market, by Country, 2021 & 2028 (%)
11.1.7.1 US: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
11.1.7.1.1 US: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
11.1.7.1.2 US Artificial Cornea and Corneal Implant Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.7.1.3 US Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
11.1.7.1.4 US Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
11.1.7.1.5 US Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
11.1.7.2 Canada: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
11.1.7.2.1 Canada: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
11.1.7.2.2 Canada Artificial Cornea and Corneal Implant Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.7.2.3 Canada Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
11.1.7.2.4 Canada Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
11.1.7.2.5 Canada Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
11.1.7.3 Mexico: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
11.1.7.3.1 Mexico: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
11.1.7.3.2 Mexico Artificial Cornea and Corneal Implant Market, by Type – Revenue and Forecast to 2028 (USD Million)
11.1.7.3.3 Mexico Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
11.1.7.3.4 Mexico Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
11.1.7.3.5 Mexico Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
12. Impact Of COVID-19 Pandemic on North America Artificial Cornea and Corneal Implant Market
12.1 North America: Impact Assessment of COVID-19 Pandemic
13. Artificial Cornea and Corneal Implant Market–Industry Landscape
13.1 Overview
13.2 Inorganic Growth Strategies
13.2.1 Overview
13.3 Organic Growth Strategies
13.3.1 Overview
14. Company Profiles
14.1 AJL OPHTHALMIC S.A
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 ADVANCING SIGHT NETWORK
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 CORNEA BIOSCIENCES, INC.
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 KERAMED, INC.
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 EyeYon Medical
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Florida Lions Eye Bank
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 CorneaGen
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Glossary of Terms
LIST OF TABLES
Table 1. North America Artificial Cornea and Corneal Implant Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 2. North America Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
Table 3. North America Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
Table 4. North America Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 5. US Artificial Cornea and Corneal Implant Market, by Type – Revenue and Forecast to 2028 (USD Million)
Table 6. US Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
Table 7. US Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
Table 8. US Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 9. Canada Artificial Cornea and Corneal Implant Market, by Type -Revenue and Forecast to 2028 (USD Million)
Table 10. Canada Artificial Cornea and Corneal Implant Market, by Transplant Type - Revenue and Forecast to 2028 (USD Million)
Table 11. Canada Artificial Cornea and Corneal Implant Market, by Disease Indication - Revenue and Forecast to 2028 (USD Million)
Table 12. Canada Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 13. Mexico Artificial Cornea and Corneal Implant Market, by Type -Revenue and Forecast to 2028 (USD Million)
Table 14. Mexico Artificial Cornea and Corneal Implant Market, by Transplant Type – Revenue and Forecast to 2028 (USD Million)
Table 15. Mexico Artificial Cornea and Corneal Implant Market, by Disease Indication – Revenue and Forecast to 2028 (USD Million)
Table 16. Mexico Artificial Cornea and Corneal Implant Market, by End User – Revenue and Forecast to 2028 (USD Million)
Table 17. Recent Inorganic Growth Strategies in the Artificial Cornea and Corneal Implant Market
Table 18. Recent Organic Growth Strategies in the Artificial Cornea and Corneal Implant Market
Table 19. Glossary of Terms, Artificial Cornea and Corneal Implant Market
LIST OF FIGURES
Figure 1. Artificial Cornea and Corneal Implant Market Segmentation
Figure 2. Artificial Cornea and Corneal Implant Market Segmentation, By Country
Figure 3. North America Artificial Cornea and Corneal Implant Market Overview
Figure 4. Human Cornea Segment Held the Largest Share of the Type Segment in Artificial Cornea and Corneal Implant Market
Figure 5. North America Artificial Cornea and Corneal Implant Market – Leading Country Markets (US$ Million)
Figure 6. North America PEST Analysis
Figure 7. North America Artificial Cornea and Corneal Implant Market – Revenue Forecast and Analysis – 2020- 2028
Figure 8. Artificial Cornea and Corneal Implant Market, by Type 2021 & 2028 (%)
Figure 9. Human Cornea: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. Artificial Cornea: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Artificial Cornea and Corneal Implant Market, by Transplant Type 2021 & 2028 (%)
Figure 12. Penetrating Keratoplasty: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Endothelial Keratoplasty: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Others: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Artificial Cornea and Corneal Implant Market Revenue Share, by (2021 and 2028)
Figure 16. Fuchs’ Dystrophy: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Keratoconus: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Fungal Keratitis: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Others: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Artificial Cornea and Corneal Implant Market Revenue Share, by End User (2021 and 2028)
Figure 21. Hospitals & Clinics: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Specialty Clinics and ASCs: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Others: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. North America: Artificial Cornea and Corneal Implant Market, by Key Country – Revenue (2021) (USD Million)
Figure 25. North America Artificial Cornea and Corneal Implant Market Revenue and Forecast to 2028 (USD Million)
Figure 26. North America: Artificial Cornea and Corneal Implant Market, by Country, 2021 & 2028 (%)
Figure 27. US: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
Figure 28. Canada: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
Figure 29. Mexico: Artificial Cornea and Corneal Implant Market – Revenue and Forecast to 2028 (USD Million)
Figure 30. Impact of COVID-19 Pandemic in North American Country Markets
- AJL OPHTHALMIC S.A
- ADVANCING SIGHT NETWORK
- CORNEA BIOSCIENCES, INC
- KERAMED, INC
- EyeYon Medical
- Florida Lions Eye Bank
- 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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