Ocular Implants Market: Age-Related Macular Degeneration is Expected To Be The Fastest-Growing Segment

 

Ocular Implants Industry Overview

The global ocular implants market size was valued at USD 13.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030. Increasing incidence of eye disorders such as age-related macular degeneration, cataract, glaucoma, and scleritis is the major factor anticipated to drive the market. The increase in the incidence rate is leading to a rise in demand for surgical procedures that require ocular implants. For instance, according to a research article published by the U.S. National Library of Medicine, based on the earlier trends in cataract surgeries, it is anticipated that 3.7 million cataract surgeries must have been performed among the Medicare beneficiaries in 2020 in the U.S. 

The novel COVID-19 disease has disrupted the overall flow and working of some of the major economies across the globe while having an equal impact on the emerging and smaller economies as well. The outbreak led to major loss of life and created a sense of panic among the population, globally. Therefore, in order to control the spread of the virus and reduce the mortality rate due to the infection of the virus, various restrictions and guidelines were imposed by different countries. Many countries observed a strict lockdown, which led to a postponement of elective surgeries, resulting in the reduction of demand for ocular implants. This implies that the pandemic had a negative impact on the market.

Gather more insights about the market drivers, restrains and growth of the Global Ocular Implants market

However, in the long run, the pandemic is expected to have a slightly positive impact on the sales of ocular implants. One major factor that indicates this is the major shift towards online education programs and work from home model. This is leading to a higher percentage of the population being exposed to a relatively high amount of screen time, which can lead to the risk of developing eye disorders. The pandemic resulted in major disruptions of the supply chain initially due to the lack of planning.

As a result, major losses were incurred, which compelled the manufacturers to create strategic plans that can help to avoid any similar situation in the future. Moreover, with the opening of the economies, the demand for these procedures has elevated to a great extent due to the earlier backlog surgeries and increasing focus on multiple awareness programs. Thus, although the COVID-19 pandemic did have a negative impact on the market initially, the market is expected to regain its growth and grow at an exponential rate over the forecast period.

Eye diseases such as cataracts and age-related macular degeneration are age-related diseases. An increase in the geriatric population is another factor contributing to the growth of the market. Additionally, increasing adoption of a sedentary lifestyle and the rising prevalence of diabetes may lead to diabetic retinopathy, which is anticipated to boost the sales of ocular implants. For instance, according to the International Diabetes Federation, in 2021, approximately 537 million individuals were living with diabetes and it is anticipated to rise to 643 million by 2030.

Technological advancement is yet another factor playing an important role in propelling market growth. The introduction of micro-invasive glaucoma devices for patients suffering from glaucoma is a classic example of the technology that has evolved over the last few years. For instance, Glaukos Corporation received FDA approval for its second-generation trabecular meshwork bypass stent, iStent Inject in June 2018. The device is indicated for the treatment of mild to moderate glaucoma and is approved for implantation at the time of phacoemulsification. 



Browse through Grand View Research's Medical Devices Industry Research Reports.

·         Ophthalmoscopes Market - Several factors such as high prevalence of ocular diseases, increasing government expenditure for eye care, and high efficiency of titanium-based instruments are expected to fuel the market growth.

·         Stone Removal Basket Market - Stone removal basket market is expected to grow due to, rising prevalence of chronic kidney diseases, and aging population. Approximately 15% of the population worldwide is affected by kidney stone.


Ocular Implants Market Segmentation

Grand View Research has segmented the global ocular implants market based on product, application, end use, and region:

Ocular Implants Product Outlook (Revenue, USD Million, 2017 - 2030)

·         Intraocular Lens

·         Corneal Implants

·         Orbital Implants

·         Glaucoma Implants

·         Ocular Prosthesis

·         Others

Ocular Implants Application Outlook (Revenue, USD Million, 2017 - 2030)

·         Glaucoma Surgery

·         Oculoplasty

·         Drug Delivery

·         Age-related Macular Degeneration

·         Aesthetic Purpose

Ocular Implants End-use Outlook (Revenue, USD Million, 2017 - 2030)

·         Hospitals

·         Specialty Eye institutes

·         Clinics

Ocular Implants Regional Outlook (Revenue, USD Million, 2017 - 2030)

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa (MEA)


Market Share Insights

·         August 2021: Alcon, Inc., a subsidiary of Novartis, acquired Ivantis, Inc. and its HydrusMicrostent for surgical glaucoma. The intended acquisition supports Alcon’s commitment to further strengthen its industry-leading portfolio across refractive, retina, cataract, and glaucoma.


Key Companies profiled:

Some prominent players in the global ocular implants market include:

·        Alcon, Inc.,

·        Bausch & Lomb, Inc.

·        Carl Zeiss AG

·         Johnson & Johnson

·         STAAR Surgical Company

·        Morcher GmbH

·         Hoya Corporation

·        Glaukos Corporation


Order a free sample PDF of the Ocular Implants Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

Follow Us: LinkedIn | Twitter

Comments

Post a Comment

Popular posts from this blog

Drug Addiction - Pipeline Review, H1 2017 Market Overview and trends research report

Radiant insights, inc latest Pharmaceutical and Healthcare disease pipeline guide Drug Addiction - Pipeline Review, H1 2017, provides an overview of the Drug Addiction (Central Nervous System) pipeline landscape. Drug addiction, also called substance dependence or chemical dependency, is a disease that is characterized by a destructive pattern of drug abuse that leads to significant problems involving tolerance to or withdrawal from the substance. Drug addiction symptoms or behaviors include recurrent drug use that results in a lack of meeting important obligations at work, school, or home, inability to sleep, awake at unusual times, unusual laziness, loss of or increased in appetite, changes in eating habits, cold, sweaty palms; shaking hands., red, watery eyes; pupils larger or smaller than usual and unusual smells on breath, body or clothes. Report Highlights Radiant insights, inc Pharmaceutical and Healthcare latest pipeline guide Drug Addiction - Pipeline Review, H1 2017, p...
Read more

All Countries Dialyzer Industry 2013-2028 - Market Size, Share, Outlook, Growth, Key Players and Forecast

The global Dialyzer market was valued at $XX million in 2018, and Radiant Insights, Inc analysts predict the global market size will reach $XX million by the end of 2028, growing at a CAGR of XX% between 2018 and 2028. This report provides detailed historical analysis of global market for Dialyzer from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Dialyzer market. Download Free Sample Report @ https://www.radiantinsights.com/research/2013-2028-report-on-global-dialyzer-market/request-sample Leading players of Dialyzer including: • Fresenius Medical Care • Baxter • Nipro • Asahi Kasei • Toray • B.Braun • Nikkiso • Medtronic • Kawasumi • Medica • Wego • Lengthen • Peony Medical • Chengdu OCI • Bain Medical Equipment Market split by Type, can be divided into: • Flat Type Dialyzer • Coil Tube Dialyzer • Ho...
Read more

Insights into the Medical Waste Disposal Category: A Comprehensive Procurement Intelligence Report

  Medical Waste Disposal Category Overview The medical waste disposal category is anticipated to grow at a CAGR of 6.0% from 2023 to 2030. Appropriate disposal of medical trash is the key challenge for healthcare providers across the globe. Rising awareness about the benefits of proper medical waste management for treatment, recycling, and disposal of medical trash has boosted the growth of the category. According to the World Health Organization Study Report 2022, countries with low income generate over 0.2 kg of medical trash per day per hospital bed, whereas countries with high income generate hazardous waste of up to 0.5 kg per hospital bed each day. Moreover, rising government initiatives and strict rules and regulations for waste management are also expected to drive the category. For instance, in December 2022, an MOU was signed between the Center for Health Environment Research and Development and Can Tho Central General Hospital under USAID’s Reducing Pollution Project. T...
Read more