Global ocular implants market was valued US$12.45 Bn in 2019 and is expected to reach US$ 19.5 Bn by 2027, at a CAGR of 6.62 % during a forecast period.
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Global Ocular Implants Market: Drivers and Restraints
An increase in the occurrence of cataracts is one of the key drivers in the global ocular implants market growth. The Cataract has identified as a leading cause of blindness, which has encouraged many industry key players and government organizations to develop innovative ocular implants. In addition, technological advancements, adoption of vision correction procedures, and intraocular lenses for cataract surgeries are some of the driving factors, which are expected to propel the growth in the market. For instance, an introduction of a new collagen glaucoma implant, which inhibits the formation of scar is expected to contribute significant share in the global ocular implants market. On the other hand, lack of skilled professionals and the side effects are expected to limit the growth in the market.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Global Ocular Implants Market: Segmentation Analysis
In terms of product, Ocular Implants are segmented by corneal implants, intraocular lenses, glaucoma implants, orbital implants, ocular prosthesis, and others. Glaucoma implants are expected to contribute a significant share of XX% during the forecast period (2020-2027). Intraocular lenses have gained popularity among the consumers because of their comprehensive use in presbyopia, nearsightedness, and farsightedness. Glaucoma is one of the primary reasons for blindness.
On the basis of the application, market is segmented into oculoplastic, glaucoma surgery, and AMD, drug delivery, and age-related macular degeneration, aesthetics, and others. Glaucoma surgery segment held the largest share in 2019 because of the rise in the incidence of glaucoma. Increasing awareness about glaucoma disease is increasing demand for early glaucoma surgical treatment.
By the end-use, the ocular implants market is segmented into ophthalmic clinics, hospitals, and specialty eye institutes. Among these, hospital segment is expected to hold the largest share in the market because of rise in frequency of treatment for vision impairment. Furthermore, the specialty eye institutes are projected to be the fastest-growing segment in the market during the forecast period (2020-2027). Eye research institutes play a vital role in the technological innovations of intraocular lenses. An introduction of various advanced intraocular lenses and an increase in competition amongst key players for the development of superior lenses and high investment on eye research institutes by government and nongovernment organizations are expected to drive the market growth.
Global Ocular Implants Market: Regional Analysis
North America held the dominant position in the global ocular implants market and is expected to continue its dominant position during the forecast period. An increase in the geriatric population and the presence of reimbursement facilities are transforming the healthcare industry in the region. As per the country analysis, the rise in government expenditure for R&D is one of the key drivers, which is expected to contribute significant share in the market. For instance, the U.S. government has offered nearly about 44% of its allocated fund to the eye research institutes for R&D. Furthermore, the Asia Pacific region is projected to grow at a XX% rate of CAGR during the forecast period. Eye-related disorders have occurred as potential threats to the populations in all middle-income across the region.The high growth rate of diabetic patients and the government healthcare expenditures in Asian countries are boosting the market growth.
The objective of the report is to present a comprehensive analysis of the Global Ocular Implants Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Ocular Implants Market dynamics, structure by analyzing the market segments and project the Global Ocular Implants Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Ocular Implants Market make the report investor’s guide.
The Scope of the Report for Global Ocular Implants Market: Inquire before buying
Global Ocular Implants Market, By Product
• Intraocular lenses
• Glaucoma implants
• Corneal implants
• Ocular prosthesis
• Orbital implants
Global Ocular Implants Market, By Application
• Age-related macular degeneration
• Drug delivery
• Glaucoma surgery
• Aesthetic purpose
Global Ocular Implants Market, By End-use
• Specialty eye institutes
Global Ocular Implants Market, By Region
• North America
Rest of Europe
• Asia Pacific
Rest of Asia Pacific
• South America
Rest of South America
• Middle East & Africa
Rest of Middle East & Africa
Global Ocular Implants Market, Key Players
• Bausch & Lomb
• Carl Zeiss
• Johnson & Johnson
• MORCHER GmbH
• STAAR surgical
• Porex Corporation
• FCI Ophthalmics
• Gulden Ophthalmics
• MOLTENO OPHTHALMIC Ltd
• Bio-Eye Orbital Implants
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