As per the report published by Allied Market Research, the Artificial Cornea and Corneal Implant Market generated $376.61 million in 2020 and is projected to reach $656.19 million by 2028, growing at a CAGR of 7.9% from 2021 to 2028. The growth in the artificial cornea implant market has led to a desire to spend on consumer eye care. Furthermore, an increase in the incidence of eye diseases such as keratoconus, fuchs dystrophy and infectious keratitis is a major factor driving market growth.
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High costs associated with corneal implant surgeries pose a threat to the growth of the global artificial corneal implant market. In addition, the side effects of corneal surgeries prevent the widespread adoption of corneal implants. Increasing healthcare expenditure on eye care in developing countries is fueling the growth of the global artificial cornea implant market. Additionally, factors such as increase in the number of surgeries and increase in demand for new techniques for treatment provide growth opportunities for the market.
The presence of organizations such as the Eye Bank Association of America (EBAA) and The Global Alliance of Eye Bank Associations to promote strategies to promote effective corneal transplantation has a positive impact on business growth. Increased awareness of the diagnosis of ophthalmology will be conducive to the growth of the cornea implant industry in the forecast period. The increase in the geriatric population susceptible to eye diseases drives the growth of the artificial cornea and cornea implant industry. Furthermore, technological advances along with the rise of eye diseases globally have driven the growth of the cornea implant industry.
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The increase in demand for minimally invasive surgical procedures around the world is expected to have a positive impact on market growth. Benefits associated with minimally invasive treatments that increase aesthetic benefits, including raising awareness regarding corneal transplants, drive the growth of the industry. Asia-Pacific presents lucrative opportunities for key players operating in the artificial cornea and corneal implant market, offering numerous growth opportunities to players operating in the region due to increasing population, especially geriatric population and large patient pool suffering from various eye diseases Cornea Implant Market.
Key Market Segments
The artificial cornea and corneal implant market is segmented on the basis of type, transplant type, disease indication, end user, and region. By type, the market is divided into human cornea and artificial cornea. By transplant type, it is categorized into penetrating keratoplasty, endothelial keratoplasty, anterior lamellar keratoplasty and keratoprosthesis. By disease indication, the market is divided into Fuchs’ Dystrophy, Fungal Keratitis, Keratoconus and others. By end user, the market is segmented into hospitals, ambulatory surgical centers, and speciality clinics. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Key Benefits of the Report:
• The report provides an extensive analysis of the artificial cornea and corneal implant market size, current market trends and future estimations of the market.
• The artificial cornea and corneal implant market analysis is comprehensively covered with respect to the component, application, and region.
• The artificial cornea and corneal implant estimations in this report are based on high-end analysis of the key developments for 2020–2028.
• Recent developments, key manufacturers, and top player positioning are listed in this report to analyze the competitive scenario of the artificial cornea and corneal implant market.
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Key Market Players:
The report provides a comprehensive analysis of the leading companies operating in the market are AJL Ophthalmic, CorneaGen Inc., CorNeat Vision, LinkoCare Life Sciences AB, Presbia plc, Mediphacos, Aurolab, Cornea Biosciences, DIOPTEX GmbH, and EyeYon Medical.
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