The global artificial cornea and corneal implant market is anticipated to reach $656.19 million by 2028, manifesting a CAGR of 7.9% from 2021 to 2028.
PORTLAND, OREGON, US, November 25, 2021 /EINPresswire.com/ — According to the report published by Allied Market Research, the global Artificial Cornea And Corneal Implant Market garnered $376.61 million in 2020, and is expected to garner $656.19 million by 2028, witnessing a CAGR of 7.9% from 2021 to 2028. The report offers an extensive analysis of changing market dynamics, top segments, value chain, key investment pockets, competitive scenario, and regional landscape.
Increase in prevalence of eye diseases and rise in government initiatives to control visual impairment drive the growth of the global artificial cornea and corneal implant market. However, high cost of ophthalmology devices and surgical procedures along with low accessibility to eye care in low-income countries hinder the market growth. On the other hand, demand for minimally invasive surgical procedures presents new opportunities in the coming years.
• Governments across the world imposed restrictions and bans on specific medical procedures and surgeries to prevent the spread of the coronavirus. Among those procedures, artificial cornea and corneal implant procedures were conducted only in case of emergencies otherwise, the procedures were postponed.
• In addition, artificial cornea manufacturers encountered issues such as carrying out in-person product demonstrations, operating facilities at full capacity, and organizing or attending conferences.
• The lockdown imposed in Asia-Pacific countries such as China and India delayed the production activities and shipment of ophthalmic devices due to ban on import-export activities.
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Based on type, the human cornea segment contributed to the highest market share in 2019, accounting for nearly four-fifths of the total share in 2019, and is projected to maintain its dominant position in terms of revenue by 2028. However, the artificial cornea segment is estimated to witness the fastest CAGR of 8.5% from 2021 to 2028.
By transplant type, the penetrating keratoplasty segment held the largest share, contributing to nearly two-fifths of the global artificial cornea and corneal implant market in 2019, and is expected to maintain its lead position during the forecast period. However, the keratoprosthesis segment is projected to portray the highest CAGR of 9.8% from 2021 to 2028.
Based on region, North America accounted for the highest market share in 2019, holding more than two-fifths of the total market, and is estimated to maintain its leadership status by 2028. However, Asia-Pacific is expected to register the largest CAGR of 8.7% during the forecast period.
Leading players of the global artificial cornea and corneal implant market analyzed in the research include AJL Ophthalmic, CorNeat Vision, CorneaGen Inc., Presbia plc, LinkoCare Life Sciences AB, Aurolab, Mediphacos, DIOPTEX GmbH, Cornea Biosciences, and EyeYon Medical.
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Source: EIN Presswire