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The psychological well-being of individuals can be affected by ophthalmic defects or injuries caused due to trauma, ophthalmology diseases, retinal cancer, and individuals with moderately shrunken eyeballs or children with anophthalmos or microphthalmos. Hence, companies are focusing on developing custom-made prosthetic eyes that improve the confidence and improves the psychological wellness of patients. Therefore, the increasing demand for custom-made ocular prosthetics is boosting the overall growth of the artificial eye market. Analysts predict the artificial eye market to grow at a CAGR of close to 8% by 2023.
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Market Overview
Increase the prevalence of ophthalmic diseases
Over the years, the prevalence of ophthalmic diseases has been increasing, which is driving the demand for ocular prosthesis across the world. The incidence of severe injuries, congenital eye diseases, and other severe eye diseases that result in loss of eyes are increasing the demand for artificial eyes, which ultimately drives the global market.
High device and implantation cost
Artificial eyes and implantation procedures are expensive. The high cost of artificial eyes makes it expensive for end-users without insurance coverage. In fact, some medical insurance plans do not cover the entire cost of prosthetic eye implantations. This is expected to be a major challenge for the global artificial eye market.
For the detailed list of factors that will drive and challenge the growth of the artificial eye market during 2019-2023, view this report.
Competitive Landscape
The global artificial eye market appears to be highly fragmented with the presence of several regional and international artificial eye manufacturers who compete to gain higher market position. Some of the factors that are positively impacting the growth of the market are the increasing prevalence of ophthalmic diseases and the growing demand for the custom-made ocular prosthesis. Some of the leading companies in the artificial eye market include Advanced Artificial Eyes, Erickson Laboratories, F.AD. MÜLLER SÖHNE OHG, Integrated Orbital Implants, Ocular Prosthetics, and SECOND SIGHT.
‘With the presence of a considerable number of companies, this market appears to be highly fragmented. Most of the artificial eye suppliers are focused on developing custom-made ocular prosthesis due to the growing demand for personalized and customized eye care.’
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 02: SCOPE OF THE REPORTPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
Global Artificial Eye Market 2019-2023The author of the report recognizes the following companies as the key players in the global artificial eye market: Advanced Artificial Eyes, Erickson Laboratories, F.AD. MÜLLER SÖHNE OHG, Integrated Orbital Implants, Ocular Prosthetics, and SECOND SIGHT.
Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the increasing demand for the custom-made ocular prosthesis.”
According to the report, one of the major drivers for this market is the increasing prevalence of ophthalmic diseases.
Further, the report states that one of the major factors hindering the growth of this market is the high device and implantation costs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Advanced Artificial Eyes
- Erickson Laboratories
- F.AD. MÜLLER SÖHNE OHG
- Integrated Orbital Implants
- Ocular Prosthetics
- Second Sight