Market Trends of Corneal Implants Industry
This section covers the major market trends shaping the Corneal Implants Market according to our research experts:
Penetrating Keratoplasty is Expected to Witness a Significant Growth During the Forecast Period
The major factors attributed to the growth of invasive keratoplasty are the increasing number of people suffering from eye-ball injuries and eye disorders. Penetrating keratoplasty procedures are performed to treat patients suffering from eye disorders such as corneal ulcers and infectious keratitis. In addition, penetrating keratoplasty (PKP) is preferred for treating ectatic corneal disease and has been the standard procedure for the treatment of keratoconus patients with remarkable optical and visual outcomes for keratoconus patients that are contact lens intolerant or have corrected visual acuity.
Moreover, an increasing number of penetrating keratoplasty procedures indicates the rising demand for corneal implants. According to the 2021 Eye Banking Statistical Report by the EBAA, the total number of United States-supplied tissue distributed for keratoplasty (including long-term preserved tissue) was 79,641, a 20.2% increase from 66,278 in 2020. 49,110 intermediate-term preserved corneas were transplanted in the United States, and 22,928 were exported internationally in 2021. As per the same source, the number of penetrating keratoplasty (PK) grafts in the United States was 16,269 (a 5.6% increase), while EK numbers increased by 15.3% to 30,098. Hence, the increasing number of penetrating keratoplasty surgeries indicates the rising demand for corneal implants. Thus, given the above-mentioned factors, the segment is anticipated to grow significantly during the forecast period.
North America Accounted for the Largest Share in the Global Market
Within North America, the United States has held the major share of the market and is expected to dominate during the forecast period. The increasing awareness about eye donation in the region and the presence of several organizations are a few of the major factors accounting for the growth of the market in the region. For instance, the EBAA celebrates eye donation month each November to raise awareness about cornea donation and transplantation. Such initiatives are likely to increase the number of eye surgeries performed in the country.
Additionally, the increasing prevalence of keratoconus is expected to increase the demand for corneal implants, which is expected to boost the growth of the market during the forecast period. For instance, according to the EBAA 2021 report, keratoconus affects one in every 2,000 Americans. It generally manifests early in life and is most prevalent among teenagers and adults. This is likely to create demand for the product.
Moreover, as per the June 2020 statistics by the CDC, approximately 12 million people aged 40 years and above suffered from vision impairment in the United States in 2020. Thus, the high prevalence of vision impairment in the region has boosted the number of ophthalmic surgeries that further contribute to the rising demand for corneal implants.
Thus, all the aforementioned factors are expected to boost the market in the region during the forecast period.
