Product Overview
The ocular implants are primarily used to replace the damaged tissue. It is an artificial surgery which is used for the restoration of the sharpness of the vision. There are different types of implants available in the market for the treatment of the eye disorders such as intraocular lenses, corneal implants and glaucoma surgery. These implants contain the lens which is used for the replacement of the natural eyes. The intraocular lens is used for the replacement of the natural eyes and is used after the removal of the cataract. The most of the implantation of the eye is made from the high grade of plastics which are highly suited for the eyes.
Market Size and Forecast
The increasing cases of the cataract is increasing the blindness among the people across the globe is anticipated to be major reason fostering the growth of the global ocular implants market during the forecast period. For instance according to WHO, the total number visually impaired population across the globe is 285 million of which 39 million people are blind. Thus, the global ocular implants market is anticipated grow at a CAGR of around 7% during the forecast period and is expected to reach the total market size of USD 30 billion by 2027.
The global ocular implants market can be segmented on the basis of product, end-user and region. On the basis of product, it is sub-segmented into glaucoma implants, intraocular lenses, orbital implants, corneal implants, ocular prosthesis and others. The intraocular lenses are anticipated to be the fastest developing sub-segment during the forecast period. The rising application of the intraocular lenses in the farsightedness, nearsightedness and presbyopia is anticipated to be the major reason fostering the growth of the sub-segment during the forecast period. The glaucoma sub-segment is anticipated to grow at a sustainable growth during the forecast period. The increasing cases of the glaucoma across the globe is anticipated to be a major reason fostering the growth of the sub-segment during the forecast period. On the basis of the end-user, it is sub-segmented into specialty eye institutes, hospitals and clinics. Hospitals is anticipated to be the leading sub-segment during the forecast period. The large pool of patients suffering from eye related diseases coupled with the presence of the expert physicians is anticipated to boost the growth of the sub-segment during the forecast period.
By region, global ocular implants market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is anticipated to hold the largest market share for the global ocular implants market during the forecast period. The availability of enhanced machinery for the treatment of the chronic diseases coupled with the easy reimbursement policies is anticipated to be the major reason fostering the growth of the ocular implants market in the region. Asia-Pacific region is anticipated to be the fastest developing region for the global ocular implants market. The rising population in the region is increasing the cases of the blindness coupled with the favorable spending of the government towards healthcare is anticipated to be the major factor driving the growth of the global ocular implants market.
Market Segmentation
Our in-depth analysis segmented the global ocular implants market in the following segments:
By Product:
- Glaucoma Implants
- Intraocular Lenses
- Orbital Implants
- Corneal Implants
- Ocular Prosthesis
- Others
By End-User:
- Specialty Eye Institutes
- Hospitals
- Clinics
By Region
Global ocular implants market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
Growth Drivers and Challenges
The rising population across the globe is increasing the cases of the cataract and eye related diseases which is anticipated to be the major growth driver for the global ocular implants market during the forecast period. The rising awareness regarding the intraocular lenses coupled with the technological development in the field of the cataract is anticipated to drive the global ocular implants market. The increasing number of the clinical trial coupled with favorable government reimbursement policies is anticipated to fuel the growth of the global ocular implants market. The increasing cases of the eye related diseases across the globe is anticipated to increase the demand for the ocular implants. The increasing research and development in the field ocular implants is anticipated to provide lucrative growth opportunities for the manufacturers in the global ocular implants market.
The side effects of the ocular implants coupled with shortage of the skilled physician is anticipated to restrain the market growth of the ocular implants across the globe.
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