Corneal Implants Market Size, Share & Trends Report

Corneal Implants Market Size, Share & Trends Analysis Report By Type (Human Cornea, Synthetic), By Surgery Method, By Application (Keratoconus, Fuchs Dystrophy), By End User (Hospital, ASC), And Segment Forecasts, 2020 - 2027

  • Published Date: May, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68038-655-4
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 130

Report Overview

The global corneal implants market size was valued at USD 386.4 million in 2019 and is anticipated to register a compound annual growth rate (CAGR) of 6.5% from 2020 to 2027. Increasing prevalence of ophthalmic diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, is the key factor propelling the market growth. According to the NCBI report, approximately 10-15% of the patients diagnosed with keratoconus require to undergo corneal implant procedure at some point. Corneal blindness is the third leading cause of blindness after glaucoma and cataract affecting 10 million people globally. It’s estimated that around 200,000 corneal implant procedures are performed annually. Whereas, still 12.7 million patients are waiting for corneal implants. This large gap between the demand and supply of corneal implants is expected to drive the market growth over the forecast period.

U.S. corneal implant market size

Collagen-based bio-engineered artificial corneas has high demand in the market owing to its advantages, such as low cost, biocompatibility, and enhanced safety and effectiveness. For instance, LinkCor a collagen-based artificial cornea developed by LinkoCare Life Sciences Ltd. Is expected to be a potential substitute to human corneas. The product is currently under regulatory and market approval process in several regions and is expected to be commercially available by 2020.

Increasing awareness about the importance of eye donation is expected to boost the market growth. In addition, improving eye care facilities, eye banking framework, and cornea trade protocols in developing countries are expected to contribute to the rising demand, thereby supporting market growth.

Type Insights

The synthetic type segment is estimated to register the fastest CAGR of 7.3% from 2020 to 2027. These implants are called as artificial corneas and can be further classified as semi synthetic (collagen-based) and purely synthetic (Polymethyl Methacrylate (PMMA) or titanium-based). Moreover, lack of human corneas coupled with increasing prevalence of visual impairment due to corneal opacification is expected to drive the segment growth.

Human cornea segment held the largest market share of more than 50% in 2019 and is expected to register at a healthy CAGR over the forecast period. Enhanced Visual Acuity (VA) outcomes and high success rate of human cornea, which is reported to be as high as 95% with minimal requirements of repeated follow-ups, are the factors contributing to its largest market share.

Surgery Method Insights

The penetrating keratoplasty segment held the largest market share of more than 50% in 2019 and will remain dominant throughout the forecast years. However, the endothelial keratoplasty segment is expected to register the fastest CAGR from 2020 to 2027. Penetrating keratoplasty is the common procedure for corneal transplant owing to its known safety and efficacy.

According to the Eye Bank Association of America, 46% of the cornea produced by eye bank were used for penetrating keratoplasty. In recent time, its adoption rate is slowly failing due to the availability of alternative methods showing promising results. However, its relative advantage over newer approaches, such as avoiding stromal interface and efficiency in treating large central perforations is expected to uphold its market share.

Endothelial keratoplasty is the newest approach in corneal transplant where only the affected tissue is replaced, rather than full thickness of cornea. This helps in faster and better visual restoration with decreased risk of infection and accidents to the eye surface. Moreover, with growing prevalence of Fuchs Dystrophy, the segment is expected to grow at a significant rate during the forecast period.

End-user Insights

The hospital segment held the largest market share of over 55% in 2019 and is expected to register a lucrative CAGR over the forecast period. Presence of highly skilled surgeons, rising number of patients, and access to transnational eye banks are the factors expected to drive the segment growth.

Global corneal implant marketshare

Ophthalmic centers accounted for the second-largest market share in 2019 and are expected to register a healthy growth rate over the forecast period. Increasing number of ophthalmologists entering practice, growing acceptance of keratoprosthetics, and shorter wait times are the factors expected to fuel the segment growth.

Ambulatory Surgical Center (ASC) segment is anticipated to register the maximum CAGR over the forecast period. Corneal implant procedures are performed on outpatient basis in most care settings. Since, it’s a single-day procedure its adoption is anticipated to increase in ASCs. These centers are supported by several public and private funding projects.

Application Insights

Fuchs dystrophy segment held the largest market share with 52.5% in 2019 and is expected to grow at the fastest CAGR during the forecast period. Rising geriatric population, which is at a high risk of developing Fuchs dystrophy, is expected to drive the growth of the segment. Keratoconus also held a significant market share in 2019.

According to the Cancer Research Foundation of America, one in 5 keratoconus patient progress to a stage where corneal implant is needed to restore normal vision. In addition, the advent of advanced corneal implant procedures, such as Deep Anterior Lamellar Keratoplasty (DALK), and availability of FDA approved corneal implants are expected to boost the segment growth.

The application segment includes keratoconus, Fuchs dystrophy, infectious keratitis, corneal ulcers, and others. The application of corneal implants in post-surgical cataract edema, congenital corneal opacity, and mechanical or chemical damage to cornea are included in the others segment.

Regional Insights

North America held the largest market share of around 59% in 2019. Domicile of major market players, efficient reimbursement policies, and increasing of R&D activities related to corneal implants are the factors expected to drive the region’s growth further. For instance, CorneaGen has collaborated with Institute of Regenerative Medicine to develop corneas from replication of stem cells. Europe held the second-largest market share in 2019. Corneal implant procedures have improved markedly over the years in European countries, especially in U.K., Germany, Italy, and Spain.

The region has faced a shortage of corneal tissue due to decreased number of corneal donation. Moreover, the procurement of cornea from other countries is expensive and should also match the home resources. Considering this situation, Opt-out system of organ donation has been adopted across countries in the region to promote corneal donation, thereby driving the market growth. Asia Pacific is expected to be the fastest-growing region over the forecast period. Presence of a number of emerging markets and highly unmet clinical needs in countries, such as China, Indonesia, and Philippines, are expected to drive the market growth.

Key Companies & Market Share Insights

The global market is highly fragmented. Major companies are implementing various business strategies, such as merger and acquisitions and product launches to enhance their market presence. For instance, In October 2019 CorneaGen raised USD 25 million through equity to fund its global market expansion strategy. Some of the prominent players in the corneal implants market include:

  • Florida Lions Eye Bank

  • Alcon, Inc.

  • Aurolab

  • CorneaGen

  • AJL Ophthalmic SA

  • DIOPTEX

  • Massachusetts Eye and Ear

  • San Diego Eye Bank

  • KeraMed, Inc.

  • Alabama Eye Bank, Inc.

Corneal Implants Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 411.67 million

Revenue forecast in 2027

USD 641.41 million

Growth Rate

CAGR of 6.5% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

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

Segments covered

Type, surgery method, application, end user, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Russia; Switzerland; The Netherlands; Sweden; Belgium; Japan; China; India; South Korea; Thailand; Indonesia; Philippines; Australia; Sri Lanka; Singapore; Brazil; Mexico; Argentina; Colombia; Chile; South Africa; Saudi Arabia; UAE; Kuwait; Israel

Key companies profiled

Florida Lions Eye Bank; Alcon, Inc.; Aurolab; CorneaGen; AJL Ophthalmic SA; DIOPTEX; Massachusetts Eye and Ear; San Diego Eye Bank; KeraMed, Inc.; Alabama Eye Bank, Inc.

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global corneal implants market report on the basis of type, surgery method, application, end user, and region:

  • Type Outlook (Revenue, USD Million, 2016- 2027)

    • Human Cornea

    • Synthetic

  • Surgery Method Outlook (Revenue, USD Million, 2016- 2027)

    • Penetrating Keratoplasty

    • Endothelial Keratoplasty

  • Application Outlook (Revenue, USD Million, 2016- 2027)

    • Keratoconus

    • Fuchs Dystrophy

    • Infectious Keratitis

    • Corneal Ulcers

    • Others

  • End-user Outlook (Revenue, USD Million, 2016 – 2027)

    • Hospitals

    • Ophthalmic Center

    • Ambulatory Surgical Center

  • Regional Outlook (Revenue, USD Million), 2016 - 2027

    • North America

      • U.S.

      • Canada

    • Europe

      • U.K.

      • Germany

      • France

      • Italy

      • Spain

      • Russia

      • Switzerland

      • The Netherlands

      • Sweden

      • Belgium

    • Asia Pacific

      • Japan

      • China

      • India

      • South Korea

      • Thailand

      • Indonesia

      • Philippines

      • Australia

      • Sri Lanka

      • Singapore

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

      • Chile

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

      • Kuwait

      • Israel

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