The Asia Pacific Corneal Implants Market should witness market growth of 7.2% CAGR during the forecast period (2023-2029).
Healthcare professionals foresee a growth in its use in the near future, given that it is a one-day procedure and that the price of corneal eyesight is dropping. In addition, in the next ten years, it is anticipated that a number of financing initiatives, including both public and private funding, will increase the use of corneal implants. In the last ten years, intra-corneal ring segments for keratoconus have become a safe and effective alternative to previous surgical procedures because of shorter waiting periods, lower costs, fewer infection risks, and higher nurse-to-patient ratios.
Long-term industrial growth is anticipated to be aided by the supply-demand mismatch. Several campaigns raising awareness of the value of corneal donations also support the industry's expansion. Furthermore, in order to fulfill the rising demand for corneal grafts, several nations in certain regions are implementing an "opt-out" policy for organ donation. Stakeholder interest is growing in a number of areas, including stem cell therapy, bioengineered cornea, and 3D-printed cornea.
Additionally, it is anticipated that during the projected period, a favorable reimbursement scenario, manufacturers' increased focus on creating new products, and the planned launch of new products in the next few years would drive market expansion. A significant demand for collagen-based bio-engineered artificial corneas can be attributed to their benefits, including affordability, biocompatibility, and increased safety and efficacy. As a result, manufacturers' attention to creating and introducing new items has increased.
In Japan, there were reportedly 1.64 million visually impaired individuals in 2007. It was believed that 187,800 of them were blind. In Japan, the prevalence of vision impairment rose with age, and half of those affected were 70 or older. Visual impairment was predicted to affect 2.0% of the population by 2050, up from 1.3% in 2007. The cases of vision impairment due to various diseases like corneal disorder are expected to increase the requirement for treatment options like corneal implants to improve the patient's vision and therefore provide growth opportunities for the corneal implants market in the region.
The China market dominated the Asia Pacific Corneal Implants Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $43.2 million by 2029. The Japan market is estimated to grow a CAGR of 6.6% during (2023-2029). Additionally, The India market would exhibit a CAGR of 7.9% during (2023-2029).
Based on Disease Type, the market is segmented into Fuchs' Dystrophy, Keratoconus, Infectious Keratitis and Others. Based on Procedure Type, the market is segmented into Penetrating Keratoplasty, Endothelial Keratoplasty, and Others. Based on End-user, the market is segmented into Hospitals, Ophthalmic Centers and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Presbia PLC, CorNeat Vision Ltd., Alcon, Inc., AJL Opthalmic SA, LinkoCare Life Sciences AB, CorneaGen, DIOPTEX GmbH, Mediphacos Industrias Medicas S.A., EyeYon Medical Ltd., and KeraMed, Inc.
Healthcare professionals foresee a growth in its use in the near future, given that it is a one-day procedure and that the price of corneal eyesight is dropping. In addition, in the next ten years, it is anticipated that a number of financing initiatives, including both public and private funding, will increase the use of corneal implants. In the last ten years, intra-corneal ring segments for keratoconus have become a safe and effective alternative to previous surgical procedures because of shorter waiting periods, lower costs, fewer infection risks, and higher nurse-to-patient ratios.
Long-term industrial growth is anticipated to be aided by the supply-demand mismatch. Several campaigns raising awareness of the value of corneal donations also support the industry's expansion. Furthermore, in order to fulfill the rising demand for corneal grafts, several nations in certain regions are implementing an "opt-out" policy for organ donation. Stakeholder interest is growing in a number of areas, including stem cell therapy, bioengineered cornea, and 3D-printed cornea.
Additionally, it is anticipated that during the projected period, a favorable reimbursement scenario, manufacturers' increased focus on creating new products, and the planned launch of new products in the next few years would drive market expansion. A significant demand for collagen-based bio-engineered artificial corneas can be attributed to their benefits, including affordability, biocompatibility, and increased safety and efficacy. As a result, manufacturers' attention to creating and introducing new items has increased.
In Japan, there were reportedly 1.64 million visually impaired individuals in 2007. It was believed that 187,800 of them were blind. In Japan, the prevalence of vision impairment rose with age, and half of those affected were 70 or older. Visual impairment was predicted to affect 2.0% of the population by 2050, up from 1.3% in 2007. The cases of vision impairment due to various diseases like corneal disorder are expected to increase the requirement for treatment options like corneal implants to improve the patient's vision and therefore provide growth opportunities for the corneal implants market in the region.
The China market dominated the Asia Pacific Corneal Implants Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $43.2 million by 2029. The Japan market is estimated to grow a CAGR of 6.6% during (2023-2029). Additionally, The India market would exhibit a CAGR of 7.9% during (2023-2029).
Based on Disease Type, the market is segmented into Fuchs' Dystrophy, Keratoconus, Infectious Keratitis and Others. Based on Procedure Type, the market is segmented into Penetrating Keratoplasty, Endothelial Keratoplasty, and Others. Based on End-user, the market is segmented into Hospitals, Ophthalmic Centers and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Presbia PLC, CorNeat Vision Ltd., Alcon, Inc., AJL Opthalmic SA, LinkoCare Life Sciences AB, CorneaGen, DIOPTEX GmbH, Mediphacos Industrias Medicas S.A., EyeYon Medical Ltd., and KeraMed, Inc.
Scope of the Study
By Disease Type
- Fuchs' Dystrophy
- Keratoconus
- Infectious Keratitis
- Others
By Procedure Type
- Penetrating Keratoplasty
- Endothelial Keratoplasty
- Others
By End-user
- Hospitals
- Ophthalmic Centers
- Others
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Presbia PLC
- CorNeat Vision Ltd.
- Alcon, Inc.
- AJL Opthalmic SA
- LinkoCare Life Sciences AB
- CorneaGen
- DIOPTEX GmbH
- Mediphacos Industrias Medicas S.A.
- EyeYon Medical Ltd.
- KeraMed, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. Asia Pacific Corneal Implants Market by Disease Type
Chapter 5. Asia Pacific Corneal Implants Market by Procedure Type
Chapter 6. Asia Pacific Corneal Implants Market by End User
Chapter 7. Asia Pacific Corneal Implants Market by Country
Chapter 8. Company Profiles
Companies Mentioned
- Presbia PLC
- CorNeat Vision Ltd.
- Alcon, Inc.
- AJL Opthalmic SA
- LinkoCare Life Sciences AB
- CorneaGen
- DIOPTEX GmbH
- Mediphacos Industrias Medicas S.A.
- EyeYon Medical Ltd.
- KeraMed, Inc.
Methodology
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