Ocular Implants Market Report

Ocular Implants Market Analysis By Product (Intraocular Lenses, Corneal Implants, Glaucoma Implants, Ocular Prosthesis), By Application (Glaucoma, Drug Delivery), By End-use, And Segment Forecasts, 2014 - 2025

Published: October 2017  |  93 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-647-9

Industry Insights

The global ocular implants market size was valued at USD 10.24 billion in 2016 and is expected to grow at a CAGR of 6.7% over the forecast period. Increase in ophthalmic disorders such as glaucoma, scleritis, and Age-Related Macular Degeneration (AMD) is propelling demand for ocular implants. Sedentary lifestyle, which may result in diabetes, and strain on the eye due to long working hours on the computer are the reasons for “dry eye” and diabetic retinopathy. 

In addition, cataract is one of the leading causes of blindness and accounts for about 51.0% of the world’s blindness. Cataract is an age-related disease; hence, the increase in geriatric population is driving the market. Technological advancements, higher acceptance of vision correction procedures, and fast adoption of intraocular lenses for cataract surgeries are the factors propelling market growth. For instance, a new collagen glaucoma implant that inhibits the formation of scar and is biodegradable has been developed. 

U.S. ocular implants market by product, 2014 - 2025 (USD Billion)

U.S. ocular implants market

Product Insights

The ocular implants market is classified on the basis of product: intraocular lenses, corneal implants, orbital implants, glaucoma implants, ocular prosthesis, and others. The glaucoma implants segment held the largest market share in 2016 and is expected to maintain its dominance over the forecast period. Intraocular lenses are expected to be the fastest growing segment.

Intraocular lenses have gained popularity due to their extended use in presbyopia, nearsightedness, and farsightedness. Thus, this segments are expected to exhibit lucrative growth during the forecast period. Glaucoma is one of the leading causes of blindness globally. According to data published by the Glaucoma Research Foundation, in 2016, about 3.0 million people in America were suffering from Glaucoma. With increasing incidence of glaucoma, the demand for glaucoma implants is expected to increase, thereby, fueling the market growth.

Application Insights

On the basis of application, the ocular implants market is segmented into glaucoma surgery, oculoplasty, drug delivery, AMD, and aesthetics. Glaucoma surgery segment held the largest share owing to the increasing incidence of glaucoma. Growing awareness about this disease is further increasing demand for early treatment.

AMD is expected to be the fastest growing segment. Telescopic implants are implanted into the eye, which is permanent, these implants send the captured image to the brain. Such technological advancement, and the prevalence of AMD are expected to increase the market growth.

End-use Insights

The global ocular implant market is segmented into hospitals, ophthalmic clinics, and specialty eye institutes, based on end use. The hospital segment is the largest segment as a result of rising frequency of treatment for vision impairment at hospitals, whereas the specialty eye institutes are anticipated to be the fastest growing segment of the market, owing to rising need for eye care services in remote areas.

In 2015, the U.S government offered 44.0% of their allocated funds for R&D pertaining to healthcare to the eye research institutes, as stated by the National Science Foundation. Hence, owing to the rise in number of clinical trials pertaining to intraocular lenses and increase in government expenditure for R&D, this segment is anticipated to witnesses lucrative growth.

Regional Insights

Global ocular implants market was dominated by North America and is anticipated to retain its position. Increase in aging population and availability of reimbursement facilities are boosting the regional market growth.

The Asian ocular implants market is anticipated to witness highest growth rate owing to rise in diabetic population and rise in government healthcare expenditure. The developing countries such as China and Japan are expected to be the fastest growing in the Asia Pacific region, owing

to the rising number of reported cases of blindness, increasing cataract surgeries, and growing expenditure on eye care by individuals and government.

Global ocular implants market, by region, 2016 (%)

Global ocular implants market

Competitive Insights

Some of the key players in this market are Bausch & Lomb, Alcon, Carl Zeiss, Johnson & Johnson, MORCHER GmbH, and STAAR surgical. Availability of assistive financial aid and increase in incidence of reported visual impairments are anticipated to propel demand, and thereby encourage new players to enter the market space.

In order to maintain their market share, players are undertaking various strategies such as agreements and collaborations with other industry players. For instance, STAAR Surgical Corporation announced a cooperative agreement with World Eye Hospital Group. This strategic cooperation empowered the company to become the largest refractive eye surgery treatment solutions provider in South East Europe, and it is anticipated to help the company tap in to lucrative opportunities in the region over the forecast period.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East Asia

Country scope

U.S., Canada, U.K, Germany, China, Japan, Mexico, Brazil, South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the ocular implants market on the basis of product, application, end-use, and region:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Intraocular lenses

    • Corneal implants

    • Orbital implants

    • Glaucoma implants

    • Ocular prosthesis

    • Others

  • Application Outlook (Revenue, USD Million, 2014 - 2025)

    • Glaucoma surgery

    • Oculoplasty

    • Drug delivery

    • Age-related macular degeneration

    • Aesthetic purpose

  • End-use Outlook (Revenue, USD Million, 2014 - 2025)

    • Hospitals

    • Specialty eye institutes

    • Clinics

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K

    • Asia Pacific

      • China

      • Japan

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

      • Saudi Arabia

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