Eye Socket Implant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Eye Socket Implant Market is expected to register a CAGR of 6.7% during the forecast period owing to the higher prevalence of eye diseases such as glaucoma, cataract, etc. A cataract is an eye disease that is usually characterized by clouding of the lens, the severity of which may further lead to vision impairment. According to the World Health Organization, around 65.2 million people suffered from cataracts in 2019. Furthermore, awareness campaigns organized by companies and other organizations related to eye diseases is expected to drive the market growth. For instance, in 2019, Allergan in association with Glaucoma Research Foundation (GRF) initiated a campaign “My Glaucoma” to grow awareness among people about the burden of glaucoma and its treatment. Hence, such initiatives are expected to impact positively on the eye socket implants market.

Key Market Trends

Glaucoma Segment is Expected to Hold a Major Market Share in the Eye Socket Implant Market

- Glaucoma is expected to be a dominant segment in the eye socket implant market due to the higher prevalence and aging population. According to the World Health Organization, in 2019, approximately 6.9 million people worldwide were diagnosed with glaucoma.

- It is one of the major reasons for preventable vision impairment. Approximately 1 billion people suffer from blindness due to unaddressed glaucoma. Also, diabetic people are at high risk of causing glaucoma. According to the Centre for Disease Control and Prevention, in 2019, around 7.1 % of the population diagnosed with diabetes aged 45 years and above had glaucoma too.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major market share in the global eye socket implant market due to the growing aging population and associated eye disorders. According to Centre for Disease Control and Prevention, in 2019, the population aged over 45 years, suffering from diabetes, also suffered from cataracts with a prevalence of around 32.2%, 8.6% with diabetic retinopathy and 4.3% had macular degeneration in the United States. Furthermore, increasing product approvals related to eye socket implants is expected to fuel market growth. For instance, in 2019, Alcon received a US FDA (Food & Drug Administration) approval for AcrySof IQ PanOptix Trifocal IOL, a trifocal lens for intermediate and distance vision.

Competitive Landscape

Companies are taking initiatives in order to improve their presence in the market. For instance, in 2019, Alcon acquired Power Vision, Inc., a company dedicated to manufacturing fluid-based intraocular lens implants to extend its product line for eye socket implants. Some of the companies which are currently dominating the market are Carl Zeiss, Alcon, BVI (Physiol), AJL Ophthalmic SA (Addition Technology Inc.), Gulden Ophthalmics, Bausch & Lomb, FCI, Aurolab, Morcher GmbH and Staar Surgical

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