Corneal Implant Market

Corneal Implant Market Outlook (2024 to 2034)

The global corneal implant market is estimated to be worth US$ 37.6 million in 2024. Projections put the CAGR of the market for the 2024 to 2034 period at 13.0%. The market's growth over the forecast period is set to see the market size expand, reaching a projected value of US$ 127.3 million in 2034. The increasing prevalence of corneal disorders is indeed one of the primary drivers for the corneal implant market.

Conditions such as keratoconus, corneal scarring, keratitis, Fuchs dystrophy, corneal ulcers, and corneal edema can necessitate corneal transplantation. This has led to an increased demand for corneal implants designed to restore vision and improve the quality of life for patients suffering from corneal disorders.

Among eye care solutions in the industry, corneal implants stand out as specialized prosthetic devices with distinct offerings. The market presents a diverse array from advanced small-aperture corneal implantable devices to innovative options like corneal reshaping and refractive devices. Tailored to address specific vision challenges and cater to individuals with varying corneal disorders, these implants are pivotal in enhancing visual acuity and overall quality of life.

Key Market Growth Drivers

• Rising eye banks, eye care facilities, and the integration of modern technology in eye care are likely to boost market expansion over the forecast period.
• The growing number of cases of eye disorders, such as corneal disorders, is projected to drive the market growth for the forecast period.
• Rising healthcare expenses due to the development of novel and creative pharmaceutical products, initiatives from the government, and higher disposable income are some of the factors driving market expansion.

Attributes	Details
Estimated Market Value (2024E)	US$ 37.6 million
Forecasted Market Value (2034F)	US$ 127.3 million
Global Market Growth Rate (2024 to 2034)	13.0% CAGR
Presbyopia Segment Growth Rate (2024 to 2034)	13.3% CAGR
North America Market Share (2024)	13.1%
East Asia Market Share (2024)	13.4%
Key Companies Profiled	Florida Lions Eye Bank DIOPTEX Massachusetts Eye and Ear Alcon Inc. Aurolab CorneaGen AJL Ophthalmic S.A. San Diego Eye Bank KeraMed, Inc. Presbia PLC

What Factors Have Contributed to the Global Increase in Corneal Implant Demand?

“The Increasing Demand patient convenience and eye care facilities Worldwide”

The improvement of eye care facilities, eye banking frameworks, and cornea trade protocols in developing countries is expected to play a crucial role in supporting the rising demand for corneal implants, thereby contributing to the market's growth. This is because these factors will increase the availability of corneal tissues and improve the quality of eye care, making it easier for patients to access treatment for their corneal disorders. As a result, the market is projected to expand in developing countries, contributing to the corneal implant market share.

“Growing Number of Innovative Products and Increased in Healthcare Expenditure Worldwide”

The pharmaceutical industry is continuously developing new and innovative products, which has contributed to the growth of the corneal implant market. Rising healthcare expenditure is also a significant factor driving corneal implant market growth, as more people are willing to spend money on treatments that can improve their well-being.

Government initiatives to improve healthcare infrastructure and services have played a vital role in boosting market growth. The higher disposable income of the population has also contributed to the increased demand for corneal implants, as more people can afford these treatments. All these factors have fueled the growth of the corneal implant market in recent years.

Which Factors Present Challenges to the Expansion of the Corneal Implant Market Demand?

“The Shortage of Donors is Expected to Hamper the Market Expansion through 2034.”

Despite being a safe procedure, corneal implantation does come with certain risks, such as eye infection, corneal swelling, increased pressure in the eye, and the possibility of the donor cornea being rejected. These risks can impact the market share of the industry. Moreover, the shortage of donors leading to limited availability of corneal tissues can emerge as a significant growth-restraining factor for the industry.

Country-wise Insights

In line with the increasing sales in the regions, the corneal implant market finds a considerable portion of its consumer base in North America and East Asia. North America is secured to hold 33.0% of the worldwide market share in 2024. The market is expected to progress at a significant CAGR of 13.1% from 2024 to 2034 in the region, with the market share at the end of the period predicted to reach 33.4%.

East Asia is the other region with a considerable share of the market. In 2024, the share for East Asia is tipped to be 5.0%. The market is expected to register a promising CAGR of 13.4% in East Asia over the forecast period, at the end of which the market share of the region is projected to be 5.2%.

What Ensures the Continued Thriving of the Corneal Implant Market in the United States?

“The Well-established Healthcare Infrastructure and Increasing Prevalence of Corneal Disorders, Leading to Corneal Implant Market Growth”

The value of the corneal implant industry in the United States for 2024 is estimated to be US$ 12 million. Over the forecast period, the market is expected to register an encouraging CAGR of 13.1% in the country, reaching a value of US$ 7 million by 2034.

The United States is one of the major markets for corneal implants. The country has a well-established healthcare infrastructure, and efficient reimbursement policies are expected to drive the product demand. Additionally, the increasing prevalence of corneal disorders and rising healthcare expenditures are expected to create lucrative opportunities for the forecast period.

There has been an increasing focus on R&D activities related to corneal implants in the country. This is due to the growing demand for advanced corneal implants that offer better outcomes and higher patient satisfaction. The development of innovative products is expected to further boost the growth of the corneal implant market in the United States.

Why is China Emerging as a Lucrative Country for the Corneal Implant Market?

“The Presence of Pharmaceutical Companies and Increasing Purchasing Power is Expected to Drive the Market Growth in China”

China’s corneal implant market is estimated to be worth US$ 0.8 million in 2024. The market is expected to register a robust CAGR of 12.8% for the forecast period in China, with the industry value projected to reach 1.6 million in 2034.

During this period, China is expected to grow at the fastest rate. The presence of medicine companies in the region and the country's rising purchasing power are driving market expansion. Furthermore, due to the developing infrastructure of businesses and rising disposable incomes, China provides profitable prospects for key companies operating in the corneal implant market, achieving a rapid expansion rate during the projection period. Furthermore, the growth in corneal illnesses in the region is expected to drive the corneal implants market during the forecast period.

Category-wise Insights

Based on end users, the hospital segment is expected to account for 38.2% of the market share in 2024.

Why is the Hospital Segment Dominating the Corneal Implant Market?

“Increasing Number of Patients Suffering from Corneal Disorders”

The hospital segment is expected to contribute 38.2% of the market share by end-user type in 2024. The demand for corneal implants in hospitals is likely to rise at a CAGR of 12.2% through 2034. The hospital segment is expected to witness significant growth in the corneal implant market due to the increasing number of patients suffering from corneal disorders and the availability of advanced healthcare facilities.

Hospitals are increasingly offering corneal implant surgeries as they provide a safe and controlled environment for complex surgeries. Moreover, the availability of advanced technologies and equipment in hospitals has made surgical procedures more efficient and effective, further contributing to the segment's growth.

The increasing demand for corneal implant surgeries has led to the development of specialized hospital units, particularly in developing countries. These units are equipped with advanced technologies and trained medical professionals, providing patients with high-quality corneal implant surgeries.

Competitive Landscape

Factors such as product innovation, pricing strategy, and distribution channels play a crucial role in determining the market position of a company. Furthermore, the increasing demand for corneal transplant procedures and the growing prevalence of corneal diseases are expected to drive the growth of the corneal implant market, creating new opportunities for established and emerging players. Some of the prominent companies in the market are Alcon Inc., Aurolab, CorneaGen, AJL Ophthalmic S.A., San Diego Eye Bank, KeraMed, Inc., Presbia PLC

• In 2022, CorNeat KPro is an implantable and cheap artificial cornea produced by CorNeat Vision. The CorNeat KPro is intended to replace damaged, distorted, or opacified corneas and is expected to entirely and immediately restore corneally blind patients' vision.
• In 2022, Celregen and Cellusion Inc. secured a joint license agreement for corneal endothelial cell regeneration therapy in Greater China.
• In 2022, Carl Zeiss Meditec and Precise Bio announced a collaboration to develop and manufacture tissue-based implants for ophthalmology.

Segmentation of Corneal Implant Market Research

• By Implant Type:

  • Small Aperture Corneal Implantable Device
  • Corneal Reshaping Implantable Device
  • Refractive Corneal Implantable Device

• By Indications:

  • Presbyopia
  • Hypermetropia
  • Myopia
  • Astigmatism

• By End User

  • Ophthalmic Clinics
  • Ambulatory Surgical Centers
  • Pharmacies and Drug Stores
  • Hospitals

• By Region:

  • North America
  • Europe 
  • Latin America 
  • East Asia 
  • South Asia & Oceania 
  • Middle East & Africa