Ocular Implant Market Size Is Projected to Reach US$ 20.2 Billion at a CAGR Of 7.1% Owing To Technological Developments By 2026

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The global ocular implant market, by Implant Type (Intraocular Lenses (IOL) (Aspheric IOLs, Toric IOLs, Multifocal IOLs, Anterior Chamber IOLs, and Others), Corneal Implants, Glaucoma Implants, Orbital Implants, Ocular Prosthesis, and Others), by Application (Glaucoma Surgery, Oculoplasty, Drug Delivery, Age-Related Macular Degeneration (AMD), Aesthetic Purpose, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 11,697.9 million in 2018, and is projected to exhibit a CAGR of 7.1%, during the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.

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The rising number of research and development activities to develop innovative ocular implants are contributing to the development of global ocular implant market. For example, Genentech, Inc. announced positive results for Phase II clinical trial study conducted to evaluate the safety and efficacy of the investigational Port Delivery System (PDS) with Ranibizumab in July 2018, the first-ever eye implant to achieve sustained delivery of a biologic medicine, in people with wet age-related macular degeneration (AMD).

Browse 23 Market Data Tables and 19 Figures spread through 157 Pages and in-depth TOC on “Ocular Implant Market, by Implant Type (Intraocular Lenses (IOL) (Aspheric IOLs, Toric IOLs, Multifocal IOLs, Anterior chamber IOLs, and others), Corneal Implants, Glaucoma Implants, Orbital Implants, Ocular prosthesis, and others), By Application (Glaucoma Surgery, Oculoplasty, Drug Delivery, Age-Related Macular Degeneration (AMD), Aesthetic purpose, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),  – Global Forecast to 2026”

 To know the latest trends and insights related to Global Ocular Implant Market PRESS RELEASE, click the link below: https://www.coherentmarketinsights.com/press-release/ocular-implant-market-to-surpass-us-202-billion-by-2026-1427

Innovative ocular implant developments and the increasing number of approvals from regulatory authorities for ocular implants and prosthetics is expected to drive the global ocular implant market growth. For instance, in July 2016, Abbott received U.S. Food and Drug Administration’s approval for its Tecnis Symfony Intraocular Lenses, indicated for the treatment of cataracts. The FDA approval includes a version of the lens for people with astigmatism, the Tecnis Symfony Toric IOL.

Furthermore, Implandata Ophthalmic Products GmbH (Implandata) received CE marking for its next-generation EYEMATE-IO 1.1 implantable micro-sensor in March 2019. The novel product will help eye surgeons to implant the permanent eye pressure sensor in combination with cataract surgery through significantly smaller incisions. The company launched EYEMATE-IO 1.1 in April 2019 in Europe.

Moreover, HumanOptics received U.S. Food and Drug Administration’s approval in June 2018 for its CustomFlex Artificial Iris, first stand-alone prosthetic iris. CustomFlex Artificial Iris (HumanOptics) is a flexible silicone device indicated for children and adults with congenital aniridia or iris defects due to traumatic injury, albinism, or surgical removal.

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However, product recall of ocular implants are expected to hamper the growth of the global ocular implant market. For instance, in October 2018, Drug Controller General of India (DCGI) issued a product recall notice to Allergan India Private Limited for its Ozurdex Intravitreal Implant due to detection of silicone particle in it.

Key Takeaways of the Global Ocular Implant Market:

• The global ocular implant market is expected to expand at a CAGR of 7.1% during the forecast period (2018 – 2026), due to the rising burden of eye-related disorders which require artificial eye or eye replacement.
• Rising collaboration activities among key players, which will improve the ophthalmic therapeutics and treatment options is expected to drive the global ocular implant market growth. For instance, in August 2018, Aerie Pharmaceuticals, Inc. and DSM Biomedical, Inc. entered a strategic research collaboration to evaluate the certain Aerie compounds’ sustained delivery using DSM’s bioerodible polyesteramide polymer technology. The initial focus has been on retinal diseases such as DME (diabetic macular edema) and wet AMD (wet age-related macular degeneration).
• Major players operating in the global ocular implant market are Novartis AG, Pfizer Inc., Staar Surgical, Johnson & Johnson Services, Inc., Bausch & Lomb Incorporated., Morcher GmbH, OSD Medical GmbH, Ophtec BV, and ZEISS International.

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