Rockville , Jan. 03, 2024 (GLOBE NEWSWIRE) -- The global corneal implant market is estimated at US$ 37.6 million in 2024. The market is projected to capture a 13.0% CAGR through 2034. The market is projected to surpass US$ 127.3 million by 2034.
The rising incidence of corneal disorders such as keratoconus, Fuchs' endothelial dystrophy, and corneal injuries is one of the key factors driving the growth of the corneal implant market. As these disorders can cause vision impairment and even blindness, there is a growing demand for corneal implants as a treatment option. Additionally, advancements in the technology used in corneal implants contribute to the market's growth.
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The increasing number of eye banks, eye care facilities, and the integration of modern technology in eye care are expected to contribute to the expansion of the corneal implant market. These factors are likely to offer improved treatments and advanced procedures for patients, which, in turn, could lead to increased demand for eye care products and services. As a result, the market for eye care solutions is projected to grow significantly in the forecast period.
The shortage of donors is a significant concern expected to hamper the market's expansion for the forecast period. As a result, there is a need for increased awareness and education regarding corneal donation to address this issue.
| Report Attribute | Details |
| Value Projection (2034) | US$ 127.3 million |
| Growth Rate (2024-2034) | 13.0% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 40 Tables |
| No. of Figures | 200 Figures |
Key Takeaways from the Market Study
- The global corneal implant market is projected to expand at a CAGR of 13.0% from 2024 to 2034.
- The North America corneal implant market is expected to grow at a CAGR of 13.1% from 2024 to 2034.
- The market is expected to register a CAGR of 13.2% in the United States over the forecast period.
- China's corneal implant market industry is expected to rise at a CAGR of 12.8% through 2034.
- Based on end user type, the ophthalmic segment leads the market, with an expected market share of 55.1% in 2024.
“Improvement of eye care facilities and other related infrastructure in developing countries is expected to support the demand for corneal implants and contribute to the growth of the market." says a Fact.MR analyst.
Key Companies Profiled in This Report
- Florida Lions Eye Bank
- DIOPTEX
- Massachusetts Eye and Ear
- Alcon Inc.
- Aurolab
- CorneaGen
- AJL Ophthalmic S.A.
- San Diego Eye Bank
- KeraMed, Inc.
- Presbia PLC
Product innovation, price strategy, and distribution methods are all important factors in determining a company's market position. Furthermore, the rising demand for corneal transplant procedures and the increasing prevalence of corneal illnesses are projected to propel the corneal implant market forward, generating new opportunities for established and emerging competitors.
Recent Developments in the Market
In 2022, CorNeat KPro is a low-cost implanted artificial cornea manufactured by CorNeat Vision. The CorNeat KPro is designed to repair damaged, deformed, or opacified corneas, and it is projected to completely and rapidly restore vision to corneally blind patients.
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Explore how the increased prevalence of corneal disorders, advancements in surgical techniques, and heightened awareness drive corneal implant market growth. Uncover insights with Fact.MR's latest market research report
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Country-wise Insights
According to the growing sales in the areas, North America and East Asia account for a sizable share of the corneal implant market's customer base. By 2024, North America is expected to account for 33.0% of the global market share. In the area, the market is anticipated to grow at a noteworthy compound annual growth rate (CAGR) of 13.1% between 2024 and 2034, with a projected market share of 33.4% at the conclusion of the forecast period.
The other region with a large market share is East Asia. East Asia's share is predicted to be 5.0% in 2024. Over the course of the projection period, East Asia's market is anticipated to grow at a promising CAGR of 13.4%; at that point, the region's market share is anticipated to be 5.2%.
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