Corneal Surgery Devices Market is Increasing at a Sinful CAGR During Forecast to 2023

 

Market Analysis:

Corneal surgery devices are the devices used during the transplantation of cornea. Visual impairment can be caused due to genetic factors, diseases like diabetes and other infectious diseases and much more. According to WHO, 422 million people are suffering from diabetes globally and this number is increasing at the rate of 8.5%. According to American Academy of Ophthalmology, diabetes is responsible for causing visual complication in approximately 4.5 million Americans. An increasing number of surgical procedures and rising prevalence of diabetes and other diseases has promoted growth of the market. Increasing aging population, introduction on advanced devices for treatment and increasing healthcare expenditure has also contributed in the growth of the market. Moreover, continuous developments and high advancement in the corneal surgery devices, increasing incidence of diabetes, and increasing number of corneal surgeries has provided fuel for the growth of the market. Whereas, high cost of treatment and risk of infection due to devices has hampered the growth of the market. The risk of infection is very high since the cornea has no blood vessels and it derives its nutrients from the aqueous humor. Thus, prophylaxis treatment is an important part of the treatment even if there is no infection.

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There are plentiful factors that is boosting the growth of the corneal surgery devices market. These factors as per the Market Research Future (MRFR) report include increasing aging population, growing incidences of ophthalmic diseases, high advancement and continuous developments in corneal surgery devices, growing number of corneal surgeries, and increasing incidence of diabetes. On the contrary, high treatment cost coupled with risk of infection resulting from the device are factors that may obstruct the growth of the Corneal Surgery Devices Market.

Key Players:

Cooper Vision (US), Nidek Co. Ltd. (Japan), Johnson & Johnson Private Limited (US), Essilor International S.A. (France), Topcon Corporation (Japan), Ziemer Ophthalmic Systems AG (Switzerland), Haag-Streit AG (Switzerland), Carl Zeiss Meditec AG (Germany), Bausch & Lomb, Inc. (US), Abbott Medical Optics Inc. (US), KeraMED (Canada), and Alcon Laboratories Inc. (Switzerland).

 

Market Segmentation :

·         MRFR report provides an extensive segmental analysis of the Ophthalmic Surgical Devices Industry Report on the basis of diagnostic devices, device types, vision care and corneal surgery devices.

·         Based on diagnostic devices, it is segmented into ophthalmic ultrasound imaging systems, corneal topographer, keratometers, fundus cameras, and others.

·         Based on transplantation type, the corneal surgery devices market is segmented into synthetic corneas, penetrating keratoplasty, anterior lamellar keratoplasty and others. Synthetic corneas are again segmented into osteo-odonto-keratoprosthesis and bostonkeratoprosthesis.

·         Based on procedures, it is segmented into lamellar keratoplasty, penetrating keratoplasty, and pre-operative examination.

·         Based on end users, it is segmented into hospitals, ophthalmic clinics, and others.

Regional Analysis:

By region, the corneal surgery devices market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific, and the Middle East and Africa. Of these, the Americas will govern the market over the predicted years. This is owing to presence of a well-developed healthcare sector and increasing geriatric population. Also, the increasing number of hospitalization techniques owing to higher healthcare penetration in Canada and the U.S., consolidation of large healthcare players, good reimbursement rates and high concentration of leading hospitals in developed countries are boosting the market growth. In Europe, the corneal surgery devices market will have the second major share owing to growing number of ophthalmic clinics as well as other healthcare organization.

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Germany and France are the key contributors here. The corneal surgery devices market in the APAC region will grow at the highest pace owing to growing number of patients having visual impairment coupled with growing need for improved treatment options. India and China are the key contributors here. Gulf nations namely the UAE and Saudi Arabia are likely to boost the market growth in the Middle East and Africa. Iran, Egypt, Jordan and Kuwait are the other Middle East nations that should be watched out for. On the other hand, the African region is expected to have a poor growth over the predicted years owing to poor healthcare development and poor political and economic conditions.

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