Corneal Implants Market Growth & Trends
The global corneal implants market size is anticipated to reach USD 641.41 million by 2027 registering a CAGR of 6.5%, according to a new report by Grand View Research, Inc. Rising prevalence of corneal diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, is the major factor driving the market growth.
The gap between demand and supply is also expected to boost the market growth in the long run. Various programs spreading awareness about the importance of corneal donation are also likely to support market growth. Moreover, many European countries are adopting “opt-out” policy for organ donation to meet the growing demand for corneal grafts.
Increasing number of R&D activities related to corneal implants is expected to foster the market growth over the forecast period. Bioengineered cornea, 3D printed cornea, and stem cells therapy are few of the topics gaining attention from the stakeholders.
Corneal Implants Market Report Highlights
- Based on type, human cornea segment held the largest market share in 2019 and is estimated to retain its dominant position throughout the forecast period
- Lack of accessibility, shortage of human corneas, and rising number of graft rejection cases are factors expected to drive the segment growth
- Based on end user, the hospital segment held the largest market share in 2019 and is expected to have a significant growth rate over the forecast period
- North America holds the largest market share in the global market. U.S, is one of the major suppliers of corneal Implant globally
- Asia pacific are expected to witness the fastest CAGR over the forecast period due to rising demand for corneal implants in countries, such as China, Indonesia, and Philippines
- Endothelial keratoplasty segment is expected to register the fastest CAGR from 2020 to 2027 owing benefits, such as faster and better visual restoration with decreased risk of infection and accidents to the eye surface
- Based on application, Fuchs Dystrophy segment held the largest market share in 2019 and is expected to register the fastest CAGR from 2020 to 2027
- This growth can be attributed to the factors, such as rising adoption of minimally invasive surgical procedures and high prevalence of the disease