Corneal Implants Market Size, Share & Trends Analysis Report By Type (Human Cornea, Synthetic), By Application (Keratoconus, Fuchs Dystrophy), By End-user (Hospital, ASC), By Surgery Method, And Segment Forecasts, 2022 - 2030

Report Overview

The global corneal implants market size was valued at USD 392.9 million in 2021 and is anticipated to register a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030. The increasing prevalence of ophthalmic diseases, such as keratoconus, Fuchs dystrophy, and infectious keratitis, is the key factor propelling the industry's growth. According to the NCBI report, approximately 10-15% of patients diagnosed with keratoconus require to undergo a 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, which means only 1 in 70 of the total need is satisfied. Therefore, the large gap between the demand and supply is expected to drive the industry over the forecast period. Increasing awareness about the importance of eye donation is also expected to boost industry 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 growth.

The industry experienced a significant fall in sales during the COVID-19 pandemic. Factors, such as worldwide lockdowns and implementation of restrictions on the unnecessary movement of people, to curb the spread of this virus by the governments and shutting down of economic activities resulted in a temporary lag in product sales. There was a significant drop in the donation of the human cornea due to the pandemic. For instance, according to a research article published in the British Journal of Ophthalmology, in 2022, procurements of human cornea tissue decreased in March, April, and May 2020 by 38%, 68%, and 41% respectively.

However, the industry is recovering and is expected to flourish over the forecast period. The pandemic created a huge backlog in the corneal transplant procedures that were carried out in the last 2 years. This has created a huge gap between the number of donors and the number of patients that require a corneal transplant. Therefore, manufacturers are focusing on developing artificial corneas to fill up the demand and supply gap. This is expected to help the industry grow significantly over the forecast period.

Collagen-based bio-engineered artificial corneas have high demand in the market owing to their advantages, such as low cost, biocompatibility, and enhanced safety and effectiveness. There has been an increased focus of manufacturers to develop and launch new products. Currently, two products are in clinical trials and are expected to help the artificial cornea segment and overall industry growth over the forecast period. For instance, in 2022, Corneat Vision announced that its CorNeat KPro (artificial cornea) is undergoing clinical trials. This product is expected to receive marketing approval in 2024.

Type Insights

Based on type, the global industry has been further categorized into human tissue and synthetic. The synthetic type segment is expected to register the fastest growth rate of more than 7.00% during the forecast period. These implants are called artificial corneas and can be further classified as semi-synthetic (collagen-based) and purely synthetic (Polymethyl Methacrylate (PMMA) or titanium-based). Moreover, the lack of human corneas coupled with an increasing prevalence of visual impairment due to corneal opacification is expected to drive the segment growth during the forecast period.

The human cornea type segment dominated the global industry in 2021 and accounted for the maximum share of more than 91.85% of the overall revenue. The segment is estimated to expand further at a steady growth rate retaining its leading position in the global industry throughout the forecast period. Enhanced Visual Acuity (VA) outcomes and a high success rate of the human cornea, which is reported to be as high as 95% with minimal requirements of repeated follow-ups, are the factors contributing to the largest revenue share of this segment.

Surgery Method Insights

The penetrating keratoplasty segment dominated the industry in 2021 and accounted for the largest share of more than 53.00% of the overall revenue. The segment will expand further at a steady CAGR retaining its dominant position throughout the forecast years. On the other hand, the endothelial keratoplasty segment is expected to register the fastest CAGR from 2020 to 2030. 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 the eye bank was used for penetrating keratoplasty.

In recent times, its adoption rate is slowly failing due to the availability of alternative methods showing promising results. However, its relative advantages over newer approaches, such as avoiding stromal interface and efficiency in treating large central perforations, are expected to uphold its market share. Endothelial keratoplasty is the newest approach in corneal transplant where only the affected tissue is replaced, rather than the full thickness of the cornea. This helps in faster and better visual restoration with decreased risk of infection and accidents to the eye surface. Moreover, with the growing prevalence of Fuchs Dystrophy, the segment is expected to grow at a significant rate during the forecast period.

Application Insights

Based on applications, the global industry has been further categorized into keratoconus, Fuchs dystrophy, infectious keratitis, corneal ulcers, and others. The Fuchs dystrophy segment dominated the industry in 2021 and accounted for the largest share of more than 52.60% of the overall revenue. The segment is projected to expand further at the fastest growth rate maintaining its leading industry position throughout the forecast period. The rising geriatric population, which is at a higher risk of developing Fuchs dystrophy, is expected to drive the growth of this segment. Keratoconus also held a significant share of the overall revenue in 2021.

According to the Cancer Research Foundation of America, 1 in 5 keratoconus patients progresses to a stage where a 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 the availability of FDA-approved corneal implants are expected to boost the growth of this segment during the forecast period. The application of corneal implants in post-surgical cataract edema, congenital corneal opacity, and mechanical or chemical damage to the cornea is included in the other segment.

End-user Insights

The hospital segment dominated the industry in 2021. The segment accounted for the largest revenue share of more than 57.00% in 2021 and is expected to register a lucrative CAGR over the forecast period. The presence of highly skilled surgeons, the rising number of patients, and access to transnational eye banks are the factors expected to drive the segment growth. The ambulatory surgical center (ASC) segment is anticipated to register the maximum CAGR over the forecast period. The growing popularity of Ambulatory Surgical Centers (ASCs) is expected to help the segment gain significant growth over the forecast period. Corneal implant procedures are performed on an 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. Over the last decade, ASCs have become a safe and effective alternative to surgery owing to less waiting time, reduced costs, lower risk of infection, and higher nurse-to-patient ratio. According to the Ambulatory Surgical Centers Association, more than 5,800 ASCs performed an estimated 30 million procedures in 2020. Ophthalmic centers accounted for the second-largest market share in 2021 and are expected to register a healthy CAGR over the forecast period. An increasing number of ophthalmologists entering practice, growing acceptance of keratoprosthesis, and shorter wait times are the factors expected to fuel the segment growth.

Regional Insights

North America dominated the industry in 2021 and accounted for the largest share of around 59.00% of the overall revenue. Domicile of major market players, efficient reimbursement policies, and increasing R&D activities related to corneal implants are the factors expected to drive the region’s growth further. For instance, CorneaGen has collaborated with the Institute of Regenerative Medicine to develop corneas from the replication of stem cells. Europe held the second-largest industry share in 2021. Corneal implant procedures have improved markedly over the years in European countries, especially in the U.K., Germany, Italy, and Spain.

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

Key Companies & Market Share Insights

The global industry is highly fragmented. Major companies are implementing various business strategies, such as mergers & acquisitions and product launches, to strengthen their industry 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 operating in the global 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.

• Presbia Plc

Corneal Implants Market Report Scope

Global Corneal Implants Market Segmentation

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 2017 to 2030. For this study, Grand View Research has segmented the global corneal implants market report based on type, surgery method, application, end-user, and region:

• Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Human Cornea

  • Synthetic

• Surgery Method Outlook (Revenue, USD Million, 2017 - 2030)

  • Penetrating Keratoplasty

  • Endothelial Keratoplasty

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Keratoconus

  • Fuchs Dystrophy

  • Infectious Keratitis

  • Corneal Ulcers

  • Others

• End-user Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals

  • Ophthalmic Center

  • Ambulatory Surgical Center

• Regional Outlook (Revenue, USD Million), 2017 - 2030)

  • 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