Pune India, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Ocular Implants Market Size By Product (Corneal Implants, Glaucoma Implants, Intraocular Lens, Ocular Prosthesis, Orbital Implants, and Others), By Application (Drug Delivery, Oculoplasty, Glaucoma Surgery, Aesthetic Purpose, and Age-Related Macular Degeneration), By End-User (Speciality Eye Institutes, Hospitals, and Clinics), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the ocular implants market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the ocular implants market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, application, end-user, and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global ocular implants market are Novartis AG, OSD Medical GmbH, Pfizer Inc., Staar Surgical, Bausch & Lomb Incorporated., Johnson & Johnson Services, Inc., Morcher GmbH, Ophtec BV, and ZEISS International. among other. To achieve a substantial market share in the worldwide ocular implants market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The rising prevalence of eye illnesses such as age-related macular degeneration, cataract, glaucoma, and scleritis is expected to boost the market. The growth in the incidence rate is driving up demand for surgical operations requiring ocular implants. For example, based on previous trends in cataract procedures, it is expected that 3.7 million cataract surgeries would be conducted among Medicare beneficiaries in the United States in 2020, according to a study article released by the United States National Library of Medicine. The unique COVID-19 sickness has disrupted the general flow and operation of several of the world's biggest economies, while also having an equivalent impact on emerging and smaller economies. The pandemic resulted in significant loss of life and prompted widespread alarm among the global population. As a result, numerous limits and recommendations were established by various countries in order to control the spread of the virus and lower the fatality rate due to virus infection. Many countries enforced a rigorous lockdown, which resulted in the postponement of elective surgery, reducing demand for ocular implants. This suggests that the pandemic had an adverse effect on the market. However, the pandemic is projected to have a minor favourable impact on ocular implant sales in the long run. One notable indicator is the significant trend toward online education programmes and the work-from-home concept.
Scope of Ocular Implants Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Application, End-User, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Novartis AG, OSD Medical GmbH, Pfizer Inc., Staar Surgical, Bausch & Lomb Incorporated., Johnson & Johnson Services, Inc., Morcher GmbH, Ophtec BV, and ZEISS International. among other |
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Segmentation Analysis
The glaucoma implants segment is expected to be the fastest-growing segment in 2022.
The product segment is corneal implants, glaucoma implants, intraocular lens, ocular prosthesis, orbital implants, and others. The glaucoma implants segment is expected to witness the highest growth rate during the forecast period. This is due to the rising prevalence of glaucoma, one of the leading causes of blindness. According to a Bright Focus Foundation study, by 2020, around 20 million people worldwide would have glaucoma. This amount is expected to reach 111 million by the end of 2040.
The glaucoma surgery segment is expected to be the fastest-growing segment in 2022.
The application segment is drug delivery, oculoplasty, glaucoma surgery, aesthetic purpose, and age-related macular degeneration. The glaucoma surgery segment is expected to witness the highest growth rate during the forecast period. According to WHO, there were 20 million adults suffering from glaucoma in 2020, and this figure is predicted to rise to 111 million by 2040, fuelling demand for glaucoma procedures and, by extension, glaucoma implants.
The hospitals segment is expected to be the fastest-growing segment in 2022.
The end-user segment is specialty eye institutes, hospitals, and clinics. The hospitals segment is expected to witness the highest growth rate during the forecast period. With the pandemic revealing the poor state of healthcare infrastructure worldwide, governments are focusing on boosting capital spending to improve healthcare infrastructure and its overall development. This will also aid in the development of the infrastructure for the ophthalmology industry, ensuring that the hospitals segment remains dominant during the forecast period.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the ocular implants include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The North America region witnessed a major share. Rising prevalence of eye issues, sedentary lifestyles, and greater focus of key players on product launches in North America are all factors driving market advancement in this domain. Furthermore, a robust reimbursement system and the availability of technologically innovative items in the region are likely to keep the region ahead of the competition during the forecast period.
Country Analysis
- Germany
Germany's ocular implants market size was valued at USD 0.71 billion in 2022 and is expected to reach USD 1.05 billion by 2030, at a CAGR of 5.1% from 2023 to 2030. Because of the increasing prevalence of eye diseases and the government's renewed emphasis on providing proper treatments to patients,
- China
China’s ocular implants market size was valued at USD 0.72 billion in 2022 and is expected to reach USD 1.09 billion by 2030, at a CAGR of 5.4% from 2023 to 2030. According to China's seventh population census, those aged 60 and up made up 18.7% of the total population in 2020. An increasing diabetic population, an increase in cataract treatments, and rising consumer and government spending on eye care are further driving market expansion.
- India
India's ocular implants market size was valued at USD 0.56 billion in 2022 and is expected to reach USD 0.84 billion by 2030, at a CAGR of 5.3% from 2023 to 2030. Because of an increase in the geriatric population, developing countries such as India are predicted to have the most growth in the Asia Pacific region.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of the ocular implants market is mainly driven by the rise in ocular disease..
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