Ocular Implants Market Size (2023-2030)

The global ocular implants market size estimated to grow with a CAGR of 7.8% from 2023-2030.  

Industry Overview:

Ocular implants are medical devices to replace damaged or injured 85eyes to increase the proper vision of the patients. For treating various eye disorders, different eye implants are available in the market. Implants like glaucoma surgery, corneal implants, and intraocular lens are the implants for treating damaged or injured, or missing eyes. 

Ocular implants like ocular prostheses are artificial eyes for people to develop their facial lineaments damages because of eye diseases or trauma. 

COVID-19 Impact on Ocular Implants Market:

The sudden outbreak of COVID-19 has brought the world to a standstill. During the first 18months of the coronavirus, industries across the globe have impacted the market negatively. The eruption of the COVID-19 has affected the healthcare industry in many aspects. Concerning the emergency and non-emergency services, the American Academy of Ophthalmology disclosed the guidelines. Moreover, patients with varied chronic disorders like lung diseases, diabetes, and other heart-related diseases are living at high risk of ocular implants. The increasing demand for ocular implants, since the start of the COVID-19. 

Market Drivers:

The growing occurrence of corneal diseases in geriatric people fuels the ocular implants market. Around 30 million people are affected by cornea diseases and nearly two million new cases of corneal dysfunction are diagnosed every year, according to the World Health Organization (WHO). The soaring occurrence of visual impairment worldwide with increasing older adults propels the market growth globally. To spread awareness and educate people, governments are taking initiatives in preventing the diseases and the treatments available. 

A cataract is one of the leading causes of blindness and accounts for more than 50.9% of the world's blindness. Nearly 20million people have blindness globally due to cataracts. The rising patient volume with growing glaucoma cases propels the ocular implants market. By 2020, the glaucoma cases have risen to 76.0 million from 64.3 million in 2013, as per the American Academy of Ophthalmology. The mounting government initiatives for research and developments in the healthcare boom the ocular implants.  

Market Restraints:

The shortage of skilled and experienced professionals in handling the medical process restrain the ocular implants market growth globally. 

OCULAR IMPLANTS MARKET REPORT COVERAGE:

Segment Analysis:

The global Ocular Implants Market has been segmented and sub-segmented based on product, application, and end-use.

Ocular Implants Market - By Product

• Intraocular lenses

• Corneal implants

• Orbital implants

• Glaucoma implants

• Ocular prosthesis

• Others

By product, the intraocular lenses segment is achieving the largest share in the ocular implants market. The constant increase of cataracts, quick technological advancements, and accumulating availability of the device type accelerate the ocular implants market growth. The glaucoma implants product segment is expected to experience a healthy growth rate during the period. The appearance of new glaucoma implantable devices like MIGS (micro-invasive glaucoma services). The significance of aesthetic value is growing due to the improving adoption of ocular implants is driving the ocular implants market growth during the timeline period.     

Ocular Implants Market - By Application

• • Glaucoma surgery

  • Oculoplasty

  • Drug delivery

  • Age-related macular degeneration

  • Aesthetic purpose

The glaucoma surgery application accounts for the largest share in the ocular implants market. The rising frequency of glaucoma and people having more knowledge about eye diseases strengthens the market growth further. By 2030, Americans suffering from glaucoma are expected to rise by 4.3 million from 2.7 million in 2014, according to the National Institute. Age-related macular degeneration (AMD) is estimated to grow at a quicker rate throughout the forecast period. Technological advancements and the surging occurrence of age-related macular degeneration (AMD) flourish the ocular implants market growth. 

Ocular Implants Market - By End-User

• Hospitals

• Specialty eye institutes

• Clinics

The hospital end-user segment holds the largest share in the ocular implants market due to the growing patient population for the constant treatment for vision impairment. The specialty eye institutes segment is the quickest growing segment in the market due to the surging need for eye care services across remote or rural areas.  

Ocular Implants Market - By Regional Analysis:

• North American ocular implants market is accounting for lion's share throughout the period. The rising higher penetration of advanced ocular implants supports the market to grow further. The high surging low vision, cataract problems, and other eye-related problems. These factors escalate the ocular implants market further. As stated by the National Science Foundation, in 2015, the government of the U.S 44.0% of funds for the research and development activities for eye-research institutes. In the U.S., 4.2 million Americans are low-vision or legally blind as per the Centre for Diseases and Control and Prevention (CDC). 

• Europe is estimated to make consequential developments in the ocular implants market. The market growth owes to rising eye problems across the region. Over 30 million people are partially sighted or blind people, as per the European Blind Union. By 2050, the whole population of Europe is expected to be 35%. The growing adoption of highly adopted advanced ophthalmic devices boosts the ocular implants market in countries like France, the U.K, and Germany. 

• Asia-Pacific is expected to grow with the speediest CAGR rate during the mentioned period. The rising geriatric population with frequent occurrence of diabetes in them and the mounting number of occurring cataract diseases and blindness accentuate the market for ocular implants. The high presence of key players helps the market to grow further. For example, in May 2020, SIFIand Zydus Cadila collaborated to launch new intraocular lenses (IOLs) and surgical products advanced in Italy and licensed by SIFI in India. The ocular implants market in China and Japan to have the quickest growth in the region. The increasing diabetic population and a growing number of cataract surgeries accentuate the market growth throughout the region. 

• The ocular implants market in Latin America is said to have a steady and constant growth rate during the forecast period. 

• The Middle East & African ocular implants market is likely to have a sluggish share across the region. UAE, Saudi Arabia, Israel, Egypt, GCC contribute the majority of the share in the market. 

Ocular Implants Market - Key players

Some of the major key players in the ocular implants include

1. Bausch & Lomb

2. Alcon

3. Carl Zeiss

4. Johnson & Johnson

5. MORCHER GmbH

6. STAAR surgical

Recent Market Developments

• On April 07, 2021, Bausch+Lomb announced the U.S FDA approval for ClearVisc dispersive ophthalmic viscosurgical device (OVD)for use in ophthalmic surgery. https://www.prnewswire.com/news-releases/fda-approves-bausch--lomb-clearvisc-dispersive-ophthalmic-viscosurgical-device-301263668.html

• On May 06, 2021, Johnson and Johnson announced the launch of TECNIS Synergy and TECNIS Synergy Toric III IOLS, and the Health Canada approval of TECNIS Synergy Toric II IOLS, received the U.S FDA approval. https://www.newswire.ca/news-releases/johnson-amp-johnson-vision-announces-the-approval-of-tecnis-synergy-tm-and-tecnis-synergy-tm-toric-ii-iols-in-the-u-s-and-tecnis-synergy-tm-toric-ii-iols-in-canada-878209046.html

• On November 08, 2021, Alcon disclosed its SMART Solutions, designed for ophthalmology. The new solution will feature its latest advancements in integrated and connected surgical technologies. https://www.businesswire.com/news/home/20211108005426/en/Alcon-Unveils-Latest-Evolution-of-Cataract-Integration-and-Connectivity-at-AAO-2021