The Global Ocular Implants Market was valued at USD 11.26 billion in 2021 and growing at a CAGR of 5.90% during the forecast period (2022 to 2027); it is anticipated to reach USD 15.87 billion by 2027. The Ocular Implants Market is growing owing to factors such as the rise in the cases of eye disorders (like glaucoma, cataract, presbyopia, and myopia), growth in the geriatric population, and technological advancements, among others. Some of the prominent MedTech giants in the Ocular Implants Market include Alcon, Johnson & Johnson Services, Bausch Health Companies, ZEISS International, STAAR SURGICAL, Hoya Corporation, Glaukos Corporation, Second Sight, AbbVie, Innolens, SAV-IOL SA, Morcher, Ophtec BV, Novartis International AG, NVision Eye Centres, iSTAR Medical, SMR Ophthalmic Pvt Ltd., Gulden Ophthalmics, MED-EL Medical Electronics, Aetna Inc. and others.
DelveInsight’s “Ocular Implants Market” research report provides the current and forecasted Ocular Implants Market size, share, and trends analysis for the next five years, upcoming innovations in the segment, and major market drivers & barriers. The report also covers the key competitors and emerging devices in the domain.
Ocular Implants: Overview
Ocular implants are small devices designed to be inserted into the eye, made of medical-grade plastic acrylic. Ocular Implants are tiny and artificial lenses for the eye. Ocular implants form a part of surgical procedures that help fix cataracts and other vision impairments such as glaucoma, presbyopia, myopia, etc.
DelveInsight’s Ocular Implants Market report provides in-depth information into the market based on segmentation such as product type (Intraocular Lenses, Corneal Implants, Glaucoma Implants, Orbital Implants, and Ocular Prosthesis), Material (Biodegradable and Non-biodegradable), Application (Cataract, Glaucoma Surgery, Oculoplasty, Drug Delivery, Macular Degeneration, and Others), End-user (Hospitals, Eye Speciality Clinics, Ambulatory Surgical Centres), and geography (such as North-America, Europe, Asia-Pacific, Rest of the World).
As per the assessment, based on the application segment of the Ocular implants, the cataracts category is expected to demonstrate huge growth and drive considerable revenue in the Ocular implants market during the forecast period (2022-2027). The increasing prevalence of cataract cases worldwide is one of the key factors expected to drive the demand for cataract-related ocular implants in the coming years.
Ocular Implants Market Analysis
Globally, about 2.2 billion people have near, or distant vision impairment and the cases are rising globally. Moreover, as per the International Myopia Institute (2022), nearly 30% of the world is currently myopic, and by 2050, the number of myopic people is said to grow to 50%, accounting for five billion cases. It is observed that in almost half of the affected people, the vision impairment could be prevented, and in most cases, it has not yet been addressed. Overall, the rising prevalence of eye disorders such as cataracts, glaucoma, presbyopia, and myopia is one of the key factors driving the demand for Ocular Implants, eventually leading to the global ocular implants market growth. Additionally, the increasing cases of eye disorders are further linked to the rise in the geriatric population worldwide, pushing the need for Ocular Implants.
However, the side effects associated with cataract and glaucoma surgeries which can result in long-term hindrances to vision, a lack of skilled workforce, and low diagnosis rates, are some of the key factors restraining the Ocular Implants market growth.
Due to the Covid-19 outbreak, the Ocular Implants market reported a short period of a setback in market growth. With the implementation of the lockdown and other precautionary measures, the demand for Ocular Implants gets impacted due to a low number of intraocular surgeries. Urgent medical care procedures and Covid-19-related cases were given priority. However, with the active vaccination and slower transmission of Covid-19, the situation is improving, which is expected to uplift the Ocular implants market growth in the coming years.
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Ocular Implants – Global Market Assessment and Forecast
Among all the regions, North America is expected to hold a major chunk in the global Ocular Implants market. The key factors, such as the growing prevalence of eye disorders and refractive errors, such as cataracts, glaucoma, myopia, presbyopia, etc., are expected to stimulate market growth. In 2020, about 12 million people above the age of 40 years had vision impairment in the United States which includes 1 million who are blind, 3 million who have vision impairment after correction, and 8 million who have vision impairment due to uncorrected refractive errors. Similarly, in Canada, it is estimated that 30 percent of the population is myopic, and the cases are occurring at earlier ages and progressing at rates faster than seen in previous generations.
Apart from the large patient pool, other factors such as high consumer awareness, new product launches, the latest technological developments, and the presence of a highly potent market in terms of product development will also drive the Ocular Implants Market growth in North America Region. Over the past few years, the FDA has approved several ocular implants for their commercial use in markets. The trend is expected to continue in the coming years due to the large patient pool and the strong presence of the MedTech giants in the region.
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Ocular Implants Market – Key Developments and Breakthroughs
Over the years; the Ocular Implants Market has evolved significantly owing to the active participation of global MedTech companies and technological advancements in the domain. Some of the major advancements in recent years in the Ocular Implants Market are –
- In April 2022, STAAR SURGICAL announced the launch of EVO Vision Implantable Collamer Lens at the American Society of Cataract and Refractive Surgery Annual Meeting (ASCRS) in Washington D.C.
- In November 2021, Alcon Inc. took over Invantis Inc., which specializes in glaucoma ocular devices that are micro-invasive, in California to expand its glaucoma surgical implants segment.
- In March 2020, Allergan (AbbVie) received FDA approval for its product DURYSTA, which is used for the reduction of Intraocular pressure in patients suffering from open-angle glaucoma or ocular hypertension.
As per DelveInsight, the ongoing clinical & commercial development activities and research in the domain will contribute immensely to the Ocular Implants Market growth in the coming years.
Key Companies in the Ocular Implants Market
The leading players in the Ocular Implants Market include Alcon Inc., Johnson & Johnson Services Inc., Bausch Health Companies Inc., ZEISS International, STAAR SURGICAL, Hoya Corporation, Glaukos Corporation, Second Sight, AbbVie Inc., Innolens, SAV-IOL SA, Morcher, Ophtec BV, Novartis International AG, NVision Eye Centres, iSTAR Medical, SMR Ophthalmic Pvt Ltd., Gulden Ophthalmics, MED-EL Medical Electronics, Aetna Inc. and others.
As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Ocular Implants Market in the coming years. The entry of new players and the launch of emerging products will immensely drive market growth.
Learn how new players’ entries will transform the market dynamics in the coming years at Ocular Implants’ Competitive Landscape
Scope of the Ocular Implants Market Report:
- Study Period – 2019-2027
- Ocular Implants Market Segmentation –
- By Type – Intraocular Lenses, Corneal Implants, Glaucoma Implants, Orbital Implants, and Ocular Prosthesis
- Material – Biodegradable and Non-biodegradable
- Application – Cataract, Glaucoma Surgery, Oculoplasty, Drug Delivery, Macular Degeneration, and others
- End-user – Hospitals, Eye Speciality Clinics, Ambulatory Surgical Centres
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
- Geography Covered – Global (North America, Europe, Asia-Pacific, and Rest of the World)
Table of Content
|3||Regulatory and Patent Analysis|
|4||Ocular Implants Market Key factors analysis|
|5||Ocular Implants Porter’s Five Forces Analysis|
|6||COVID-19 Impact Analysis on Ocular Implants Market|
|7||Ocular Implants Market Layout|
|8||Ocular Implants Global Company Share Analysis – Key 3-5 Companies|
|9||Ocular Implants Product Profiles and Key Companies|
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Key Takeaways From the Ocular Implants Market Report Study
- In-depth analysis of the Ocular Implants Market size, share, and key trends.
- Comprehensive analysis of current Ocular Implants Market size (2020) and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on the Ocular Implants Market is significant. To capture and analyze suitable indicators, our experts closely watch the Ocular Implants Market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last three years
- Key companies dominating the Global Ocular Implants Market.
- Various opportunities are available for the other competitors in the Ocular Implants Market space.
- What are the top-performing segments in 2020? How will these segments perform in 2027?
- Which are the top-performing regions and countries in the current Ocular Implants Market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Ocular Implants Market growth in the coming future?
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