Ocular Implants Market is expected to exceed the market valuation of more than US$ 17.7 billion by 2027

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Ocular Implants Market is expected to exceed the market valuation of more than US$ 17.7 billion by 2027 expanding at a reasonable CAGR of around 6% during the forecast period (2021-2027)

Ocular Implants Market is expected to exceed the market valuation of more than US$ 17.7 billion by 2027

Ocular Implants Market is expected to exceed the market valuation of more than US$ 17.7 billion by 2027 expanding at a reasonable CAGR of around 6% during the forecast period (2021-2027). With the rise in vision impairments all around the world, eye treatments and ocular implants are becoming more and more common. Majority of people with vision impairment are over the age of 50 years. According to the United Nations, 962 million people in 2017 were over the age of 60 years, this number is twice as large as in 1980 when there were 382 million people over that age. With the increase in geriatric population, the number of people needing ocular implants is also increasing. Furthermore, the annual global financial burden due to vision impairment is huge. Uncorrected myopia and presbyopia alone costs about US$ 244 billion and US$ 25.4 billion respectively according to WHO. Key players in the ocular implants industry include Novartis AG, Johnson and Johnson, Pfizer Inc., Poriferous LLC, Novamed Ltd, Network Medical Products Ltd. and Bausch and Lomb Incorporated.

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Cataract and Unaddressed refractive error are the most common reasons for vision impairments globally. Prevalence of distance vision impairments in 4x higher in low- and middle-income countries as compared to high-income countries. Rates of unaddressed near vision impairments are approximately 80% in eastern, western, and sub-Saharan Africa (low-income regions) and comparatively in North America, Western Europe, Australia and Asia-pacific it is lower than 10% (comparatively higher-income regions). Additionally, there is substantial variation between and within countries depending on eye care services, their affordability and literacy about eye care of the population. For example, vision impairment du to cataract is higher in low- and middle- income countries whereas, diseases such as age-related macular degeneration and glaucoma are more common.

For a detailed analysis of the market drivers in Ocular Implants Market browse through - https://univdatos.com/report/ocular-implants-market

With the sudden rise of covid-19, all major healthcare companies are investing in R&D for a covid vaccine. There was 6% revenue decline in Zeiss Meditech during fiscal 2019/20. Similar trends were seen by other companies during this time. Eye care professionals need to be near the patients during ocular implant procedures and therefore pose a higher chance of SARS-CoV-2 ocular immunology and inflammation 715 transmission. WHO has given recommendation on standards and PPE to prevent infection among healthcare providers. The American Academy of Ophthalmology (AAO) have given recommendations to avoid non-essential surgical procedures.

For a detailed analysis of the Product in the Ocular Implants Market browse through - https://univdatos.com/report/ocular-implants-market

Based on product, the Ocular Implants Market is segmented into intraocular lenses, corneal implants, orbital implants, glaucoma implants, ocular implants, and others. The intralocular implants segment was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. An intraocular lens (IOL) is an artificial lens inserted in the eye. It replaces the natural lens of the eye which is removed during cataract surgery. IOL helps bend light rays to enter the eye better, helping the individual see better. According to WHO, 65 million individuals are suffering from cataract currently throughout the world. This number is increasing yearly with the increase in geriatric population. The National eye Institute published that cataracts are most prevalent in populations over the age of 80 (68.3% in the U.S.) and in the 70-79 age group (42.8% in the U.S).

For a detailed analysis of the Material in the Ocular Implants Market browse through - https://univdatos.com/report/ocular-implants-market

Based on material, ocular implants can be integrated or non-integrated. Integrated ocular implants further include aluminum oxide, hydroxyapatite, and others. Non-Integrated ocular implants further include acrylic, glass and silicon. Acrylic accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027, at a CAGR of XX% over the analyzed period. Acrylic, also known as Polymethyl methacrylate (PMMA) is a transparent thermoplastic can be used as ocular prosthesis or as replacement intraocular lenses after the treatment of cataracts when the original lens has been removed. Acrylic has much higher compatibility with human tissues than glass. Surgeons typically implant more than 6 million lenses per year. The procedure takes less than 30 minutes and a 2–3-week recovery period is required.

For a detailed analysis of the Application in the Ocular Implants Market browse through - https://univdatos.com/report/ocular-implants-market

Based on application, Ocular Implants market can be segmented into glaucoma surgery, drug delivery, aesthetics, oculoplasty, age-related muscular degeneration and others. The glaucoma surgery segment generated revenue of US$ XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of US$ XX billion by 2027F. This was since there is a growing awareness about this disease among people increasing the demand for its early treatment. In 2017, there were an estimated 57.5 million people affected with glaucoma worldwide and this number has gone upto 76 million in 2020. Another study during the same time showed that inequalities and socioeconomic differences in the society have affected glaucoma services globally.

For a detailed analysis of the End-User in the Ocular Implants Market browse through - https://univdatos.com/report/ocular-implants-market

Based on end-user, the market is segmented into hospitals, specialty clinics, eye institutes and others. The hospitals segment was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. However, the fastest growing segments are anticipated to be eye institutes with a CAGR of XX% owing to the rising eye care services in the remote areas. The eye care industry is a US$ 25 billion global market and according to a report by Alcon it is expected to grow 4% annually from 2019-2025. The number of people above the age of 60 years if expected to become 2.1 billion by 2050. Additionally, by 2050, around 50% of the world will be myopic due to the significant increase of myopia among young children. This trend is due to increase the number of people needed ocular implants and boost the growth of ocular implants market.

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Additionally, the report provides detailed initiatives that are being taken in the field of Ocular Implants, globally. The report provide a detailed analysis of regions including North America (the U.S, Canada, and Rest of North America), Europe (Germany, France, Spain, Italy, UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and the Rest of the World. North America dominated the market in 2020, with XX% share. Novartis AG, Johnson and Johnson, Pfizer Inc., Poriferous LLC, Novamed Ltd, Network Medical Products Ltd., Bausch and Lomb Incorporated, STAAR Surgical, Carl Zeiss Meditec AG, MOCHER GmbH are some of the prominent players operating in the global Ocular Implants market. Several M&As along with partnerships have been undertaken by these players to make Ocular Implantss as cost-effective and as widely available as possible.

Ocular Implants Market Segmentation

Market Insight, by Product

· Intraocular Lenses

· Corneal Implants

· Orbital Implants

· Glaucoma Implants

· Ocular Prosthesis

· Others

Market Insight, by Material

· Non-integrated Implants

o Acrylic

o Glass