Dublin, Aug 04, 2021 (GLOBE NEWSWIRE) – The report “Corneal Implants Market – Growth, Trends, COVID-19 Impact and Forecast (2021 – 2026)” has been added to ResearchAndMarkets.com offer.

The corneal implants market is expected to register a CAGR of over 6% during the forecast period.

The rapid emergence of the COVID-19 pandemic has had a significant impact on eye surgeries around the world. The suspension of elective procedures during the pandemic has reduced the number of patients undergoing ophthalmic surgery globally, as ophthalmic procedures are considered elective procedures. In March 2020, the Centers for Medicare & Medicaid Services (CMS) recommended the cancellation of elective surgery as part of the national response to COVID-19. Additionally, in March 2020, the American Academy of Ophthalmology (AAO) released practice guidelines advising ophthalmologists to stop providing any treatment other than urgent and urgent care. Additionally, in November 2020, Eye Bank Associations (EBAA) and the Global Alliance of Eye Bank Associations (GAEBA) recommended guidelines for excluding infected donors. The introduction of such guidelines has had an impact on the number of eye surgeries performed during the pandemic. However, as the locking restrictions decrease, the number of ophthalmic procedures performed globally will eventually increase and thus boost the market during the forecast period.

The growth of the studied market can be largely attributed to such factors as technological advancements in corneal implants, increasing prevalence of geriatric population, and increasing incidence of eye disorders worldwide. These factors lead to a huge demand for corneal implants in healthcare facilities.

Technological advancements in corneal implants are helping in the growth of the market. Significant advances are being made to develop cost-effective corneal implants with improved safety and efficacy. In January 2019, the United States Food and Drug Administration (USFDA) approved a new Boston KPro model, the Boston Keratoprosthesis. In addition, the demand for collagen-based artificial corneas is increasing due to their biocompatibility and low cost which has led to the development of modified artificial bio-corneas. For example, LinkCor, developed by Life Sciences AB, commercially available in 2020, is expected to be a potential substitute for human corneas. In addition, CorNeat Vision has developed an easily implantable and affordable artificial cornea, CorNeat KPro. The CorNeat KPro was designed to replace scarred, distorted or clouded corneas and should completely and immediately rehabilitate the vision of corneal blind patients. The product is expected to obtain CE mark and FDA clearance in 2022. Thus, the aforementioned technological developments are contributing to the growing demand for corneal implants.

The increasing prevalence of the geriatric population is expected to increase the demand for corneal implants. Corneal implants are used in keratoplasty procedures such as penetrating and endothelial keratoplasty. The geriatric population is prone to suffer from Fuchs dystrophy which is treated by endothelial keratoplasty (EK). According to a 2020 article published by the National Library of Medicine (NLM), late form of Fuchs endothelial dystrophy is a common condition, affecting about 4% of people over 40 in the United States. Additionally, bullous keratopathy is the most common condition in older people who have cataract surgery. These patients are recommended to undergo an endothelial keratoplasty (EK) procedure. In addition, according to the 2019 United Nations Report on the Aging of the World’s Population (UN), globally, the number of people aged 80 and over nearly tripled from 54 million in 1990 to 143 million in 2019. and is expected to triple again between 2019 and 2050 to reach 426 million by 2050. Thus, the increase in the prevalence of the geriatric population will fuel the overall growth of the market.

In addition, due to the increasing incidence of eye disorders around the world, there is a huge demand for corneal implants. Corneal implants are used in the treatment of keratoconus, corneal opacity, corneal blindness, and other eye disorders. According to 2020 statistics from the Cornea Research Foundation of America, 50 to 200 people out of 100,000 in the general population are affected by a keratoconus disorder. This indicates that the increase in the number of people suffering from a keratoconus disorder will increase the demand for corneal implants. Additionally, according to 2020 statistics from the Royal National Institute of Blind People (RNIB), an estimated 4.1 million people in the UK will be affected by blindness by 2050. Additionally, according to 2021 statistics from World Health Organization (WHO), around the world, approximately 2.2 billion people have near and far visual impairment, including 4.2 million people with corneal opacities. Such a number indicates a high demand for corneal implants. Thus, all of the above-mentioned factors are currently increasing the growth of the corneal implants market.

However, the high costs of surgical procedures and ophthalmic devices and the availability of alternative treatments are some of the factors hampering the growth of the market.

Key market trends

Penetrating Keratoplasty is expected to experience significant growth over the forecast period

Based on the type of procedure, penetrating keratoplasty is expected to experience significant growth during the forecast period. The main factors due to the growth of penetrating keratoplasty are the increasing number of people suffering from eyeball lesions and eye disorders. Penetrating keratoplasty procedures are performed to treat patients with eye disorders such as corneal ulcers and infectious keratitis. Additionally, penetrating keratoplasty (PKP) is preferred for the treatment of ectatic corneal disease and has been the standard procedure for the treatment of keratoconus patients with remarkable optical and visual results for keratoconus patients who are intolerant to lenses. contact or have corrected visual acuity. According to the Eye Bank Association of America (EBAA) Eye Bank Statistical Report 2019, domestic use of keratoplasty tissue in the United States has led to an increase in the number of penetrating transplants performed from 17,347 in 2018 to 17,409 in 2019. Therefore, the increasing number of penetrating keratoplasty procedures performed indicates the increasing demand for corneal implants. So, considering the factors mentioned above, the segment is expected to grow significantly during the forecast period.

North America accounted for the largest share of the global market

In North America, the United States holds most of the market and is expected to dominate the forecast period. The growing awareness of eye donation in the region and the presence of several organizations are some of the major factors behind the growth of the market in the region. The Eye Bank Association of America (EBAA) celebrates Eye Donation Month each November to raise awareness about corneal donation and transplantation. Such initiatives are increasing the number of eye surgeries performed in the country. For example, according to the Eye Bank Association of America (EBAA) Eye Bank Statistical Report 2019, the number of endothelial keratoplasty procedures increased by 1% in 2019 to 30,650 from 30,336 in 2018. In addition, According to 2020 statistics from the Centers for Disease Control and Prevention (CDC), approximately 12 million people aged 40 and over suffer from visual impairment in the United States. Thus, the increasing prevalence of visual impairment in the region has increased the number of eye surgeries which further contribute to the growing demand for corneal implants. So, considering the above-mentioned factors, the market growth will increase in North America.

Competitive landscape

The corneal implants market is highly fragmented due to the presence of several players in the regional and global market. These players focus on growth strategies such as new product launches, innovations in existing products, and mergers and acquisitions. Some market players are also focusing on providing human eye corneas while maintaining the focus on eye donation. The major market players operating in the global market are CorneaGen, CorNeat Vision, Aurolab, KERAMED, INC. and Price Vision Group.

Reasons to buy this report:

  • The Market Estimate (ME) sheet in Excel format
  • 3 months of analyst support

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market overview
4.2 Market drivers
4.2.1 Technological advances in corneal implants
4.2.2 Growing prevalence of the geriatric population
4.2.3 Growing Incidence of Eye Disorders
4.3 Market restrictions
4.3.1 High cost of surgical procedures and ophthalmic devices
4.3.2 Availability of alternative treatments
4.4 Porter’s five forces analysis

5 MARKET SEGMENTATION
5.1 By implant type
5.1.1 Artificial corneal implant
5.1.2 Human corneal implant
5.2 By type of procedure
5.2.1 Endothelial kertoplasty
5.2.2 Penetrating keratoplasty
5.2.3 Others
5.3 By indication of disease
5.3.1 Keratoconus
5.3.2 Fuschs dystrophy
5.3.3 Infectious keratitis
5.3.4 Corneal ulcers
5.3.5 Other indications of illness
5.4 By the end user
5.4.1 Hospitals
5.4.2 Outpatient surgical centers
5.4.3 Eye centers
5.5 Geography
5.5.1 North America
5.5.1.1 United States
5.5.1.2 Canada
5.5.1.3 Mexico
5.5.2 Europe
5.5.2.1 Germany
5.5.2.2 United Kingdom
5.5.2.3 France
5.5.2.4 Italy
5.5.2.5 Spain
5.5.2.6 Rest of Europe
5.5.3 Asia-Pacific
5.5.3.1 China
5.5.3.2 Japan
5.5.3.3 India
5.5.3.4 Australia
5.5.3.5 South Korea
5.5.3.6 Rest of Asia-Pacific
5.5.4 Rest of the world

6 COMPETITIVE LANDSCAPE
6.1 Company profiles
6.1.1 Florida Lions Eye Bank
6.1.2 CorNeat Vision
6.1.3 Cornea
6.1.4 San Diego Eye Bank
6.1.5 Alabama Eye Bank
6.1.6 Aurolab
6.1.7 Corneal biosciences
6.1.8 KERAMED, INC.
6.1.9 Vision Group Price
6.1.10 LinkoCare LifeSciences AB

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information on this report, visit https://www.researchandmarkets.com/r/pc8rny


        


Source link