Keratoprosthesis Market

Keratoprosthesis Market Outlook (2022-2032)

The keratoprosthesis market is expected to grow exponentially over the forecast period due to the increasing incidence of corneal infection. Increasing visual disability due to the cloudy cornea for working people has increased the demand for keratoprosthesis surgeries. Based on product types, the global keratoprosthesis market is segmented into Boston Keratoprosthesis, alphaCor, and others. Amongst them, Boston Keratoprosthesis is the most widely used treatment option for corneal disease.

The global keratoprosthesis market is valued at USD 437.58 Million in the year 2022. The market is expected to grow continuously with a CAGR of 12% in the forecast duration. The keratoprosthesis market is estimated to surpass the size of USD 1359.06 Million.

The exponential rise in the use of medical devices on account of continued advances in design and superior operative care has led to an increase in the use of artificial cornea or keratoprosthesis in recent years. Keratoprosthesis surgical procedure replaces the section of the cornea along with being placed in the surrounding tissue. A variety of biological materials are being considered for improving prosthetic corneal implants.

Some of the players identified in the global keratoprosthesis market include F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Bayer AG, Bausch & Lomb Incorporated, and others.

Report Attributes	Details
Keratoprosthesis market size (2022 A)	USD 437.58 Million
Base Year for Estimation	2022
Forecast duration for this research	2022-2032
Forecasted Market value (2032 F)	USD 1359.06 Million
Global Market Growth rate (2022-2032 E)	CAGR of 12%
Key Companies Profiled	Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Bayer AG

Demand impetus of the Keratoprosthesis Market

Corneal transplantation is one of the widely adopted treatments to correct opacities in the cornea. This process involves the use of tissue from a human donor. The failure in cornea treatment sometimes results in the development of keratoprosthesis which is used when corneal transplantation is not an option. The lack of human donors for the cornea is another factor that impacts positively the demand for the keratoprosthesis market.

Governments in developing economies are heavily investing in healthcare infrastructure. This is likely to witness significant growth in keratoprosthesis demand in the forecast period. Increasing incidences of corneal blindness along with patients who have failed human corneal transplantation may create potential growth prospects for the keratoprosthesis market.

As per the U.S. eye banks data published in EBAA, there were around 126,623 total tissue recoveries in 2021. These recoveries involved about 64,048 donors. In 2021, total donors saw growth of 14.5%, and total corneas donated were up 16.8% compared to 2020. These facts signify the potentiality of continuous growth in the keratoprosthesis market share in the forecast period.

The rising number of skilled medical practitioners and increased standards of eye care services are expected to be important factors driving the keratoprosthesis market. Further, improvement in designs and effectiveness of the device will possibly guide the assessment period of the keratoprosthesis market.

Deterrents for the growth of the Keratoprosthesis Market

The major restraint faced by this market is the lack of human donors for cornea replacement expected to take the demand trajectory upward in the forecast duration. Moreover, these surgery is costly which deters the spread of this surgery. The lack of awareness of this surgery is potentially impacting the expansion of market size in keratoprosthesis in the forecast period.

The researchers need high costs as well as there, are costs owned by the vendors for regulatory compliance which is triggering prices of final surgery for patients. However, with rising in insurance coverage, improved penetration of Medicare is projected to reduce the financial burden on the patients.

Segment wise analysis

Biosynthetic implants are expected to have the largest share of the keratoprosthesis market.

Based on the types of implants used in keratoprosthesis the market is segmented into, synthetic and biosynthetic implants. Biosynthetic implants are widely used for their safety and lower manufacturing cost. These benefits are likely to drive the demand for biosynthetic implants over conventional synthetic implants in the assessment period.

The hospital segment in the end-user industry recorded a 57% share

On the basis of end users, the keratoprosthesis market is dominated by the hospital segment owing to the rise in eye special clinics. Considering the complications and higher precision required in keratoprosthesis people and doctors prefer hospital setups over ambulatories. In the year 2021, the hospital segment in the end-user industry recorded a 57% share and its also anticipated to notice the highest CAGR rate in the forecast period. The presence of skilled staff, high-precision equipment, and transactional eye banks available under one roof is a major factor driving growth for this segment.

Regional analysis

North America is expected to dominate the keratoprosthesis market in terms of revenue share followed by Western Europe. Germany leads the markets in Europe owing to rising healthcare investment and research. The opt-out system for donating an organ is present in the USA which is leading to the promotion of corneal donations thereby expecting further growth in markets.

The Asia Pacific is expected to experience delayed growth due to the lack of skilled physicians. However, Asia Pacific is expected to be the most lucrative market for keratoprosthesis with maximum CAGR due to the growing penetration rate of keratoprosthesis surgeries in emerging markets.

Moreover, an increasing number of healthcare practitioners and continuous improvements in the healthcare infrastructure are expected to enable robust industry growth in the APAC region. The countries like China and India are expected to emerge as the leading region in the forecast period owing to the high population.

The Middle East and Africa are expected to witness slow and significant growth over the forecast period. Lesser penetration of technical advancement in the region is responsible for the delay in growth in the keratoprosthesis market.

Recent developments

The present developments in keratoprosthesis aimed to enhance the integration of implant tissue with the host tissue. The anatomical results are aimed at using biocompatible materials. The long-term and sustainable vision is targeted by the researchers. The companies are giving prime consideration to post-operative complications such as glaucoma, extrusion, and infection. The newer materials should be targeted by the researchers for excellent optical properties.

Corneat Vision in 2022 proclaimed that CorNeat Kpro is under trial by the firm which is expected to arrive in 2024. Collagen-based bioengineered corneas are recently introduced into the market and are being popular owing to their lower cost and compatibility in implantation.

This process is ensuring safety and effectiveness in surgery. The manufacturer in the keratoprosthesis market is increasingly focusing on the development of new techniques and products. The artificial cornea industry is marked by dominant players’ competition and product differentiation.

Keratoprosthesis Market: Segmentation

Tentatively, the global keratoprosthesis market has been segmented on the basis of product type, disease indication, end user, and geography.

• By Implant type :

  • Synthetic
  • Bio-Synthetic
  • Others

• By Disease Indication :

  • Bullous Keratopathy
  • Keratoconus
  • Keratitis
  • Others

• By End Users :

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

• By Region :

  • North America (U.S., Canada)
  • Latin America (Argentina, Mexico, Brazil)
  • Western Europe (Germany, Italy, U.K, Spain, France, Nordic countries, BENELUX)
  • Eastern Europe (Russia, Poland, Rest Of Eastern Europe)
  • Asia Pacific Excluding Japan and China (India, Australia & New Zealand)
  • China
  • Japan
  • The Middle East and Africa (GCC, South Africa, Rest Of MEA)