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. An 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 the 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 the market growth. For instance, a new collagen glaucoma implant that inhibits the formation of scar and is biodegradable has been developed.
The 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, these 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 the increasing incidence of glaucoma, the demand for glaucoma implants is expected to increase, thereby, fueling market growth.
On the basis of application, the 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 market growth.
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 the 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 the rising need for eye care services in remote areas.
In 2015, the U.S government offered 44.0% of its 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 the number of clinical trials pertaining to intraocular lenses and an increase in government expenditure for R&D, this segment is anticipated to witnesses lucrative growth.
The global ocular implants market was dominated by North America and is anticipated to retain its position. An increase in the aging population and the availability of reimbursement facilities are boosting the regional market growth.
The Asian market is anticipated to witness the highest growth rate owing to the rise in the diabetic population and the 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.
Some of the key players in this market are Bausch & Lomb, Alcon, Carl Zeiss, Johnson & Johnson, MORCHER GmbH, and STAAR Surgical. The availability of assistive financial aid and an increase in the 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 the 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 into lucrative opportunities in the region over the forecast period.
Report Attribute |
Details |
Market size value in 2020 |
USD 13.3 billion |
Revenue forecast in 2025 |
USD 18.4 billion |
Growth Rate |
CAGR of 6.7% from 2017 to 2025 |
Base year for estimation |
2016 |
Historical data |
2014 - 2016 |
Forecast period |
2017 - 2025 |
Quantitative units |
Revenue in USD million and CAGR from 2017 to 2025 |
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
Segments covered |
Product, application, end use, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
Country scope |
U.S.; Canada; U.K; Germany; China; Japan; Mexico; Brazil; South Africa |
Key companies profiled |
Bausch & Lomb; Alcon; Carl Zeiss; Johnson & Johnson; MORCHER GmbH; STAAR surgical |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional & country levels and provides an analysis of 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
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
MEA
South Africa
Saudi Arabia
b. The global ocular implants market size was estimated at USD 12.5 billion in 2019 and is expected to reach USD 13.3 billion in 2020.
b. The global ocular implants market is expected to grow at a compound annual growth rate of 6.7% from 2017 to 2025 to reach USD 18.5 billion by 2025.
b. North America dominated the ocular implants market with a share of 38.5% in 2019. This is attributable to growing geriatric population and favorable reimbursement in the region.
b. Some key players operating in the ocular implants market include Bausch & Lomb, Alcon, Carl Zeiss, Johnson & Johnson, MORCHER GmbH, and STAAR surgical.
b. Key factors that are driving the market growth include increasing prevalence of ophthalmic disorders such as glaucoma, scleritis, and Age-Related Macular Degeneration (AMD), higher acceptance of vision correction procedures, and technological advancements.
This report has a service guarantee. We stand by our report quality.
We are in compliance with GDPR & CCPR norms. All interactions are confidential.
Design an exclusive study to serve your research needs.
Get your queries resolved from an industry expert.
"The quality of research they have done for us has been excellent..."
Due to the limited operating room access due to the global pandemic, Covid-19 has emerged as the major restraint for this market spaces. The American Society of Retina Specialist has issued guidelines to medical professionals to perform ocular surgeries depending upon the severity of the condition. They have categorized patients as emergent, non-urgent, and urgent cases. For instance, a patient with a dislocated intraocular lens comes under non-urgent cases. We are working to account for this surge in our estimates. The updated report will account for Covid-19 as a key market contributor.