The corneal surgery devices market has experienced a surge in technological improvements. Innovative technologies, which include femtosecond lasers, optical coherence tomography (OCT), and superior imaging systems, have greater precision and consequences in corneal surgeries. An increase in the prevalence of corneal issues, inclusive of keratoconus and corneal dystrophies, has fueled the demand for corneal surgery devices. This trend is expected to persist due to elements such as aging populations and converting lifestyles. Patients and surgeons alike are choosing minimally invasive processes more and more. This preference has brought about the adoption of techniques like laser-assisted corneal surgical operation, which give faster recuperation instances, decreased pain, and progressed usual patient pleasure. The globalization of healthcare has played a position in shaping market trends. Access to superior corneal surgery devices has accelerated throughout regions, pushed by way of increased cognizance, higher healthcare infrastructure, and worldwide collaborations between clinical institutions.
Collaboration between pharmaceutical corporations, clinical device manufacturers, and research establishments has ended up being extra accepted. These partnerships aim to combine understanding, resources, and capabilities to boost the development and commercialization of superior corneal surgery devices. There is a significant shift towards affected person-centric care in corneal surgical procedures. Healthcare companies specialize in customized treatment plans, thinking about factors such as the affected person's anatomy, lifestyle, and choices, leading to greater custom-designed and effective surgical techniques. The regulatory landscape has an enormous effect on market dynamics. Stringent policies and compliance requirements power producers to ensure the protection and efficacy of their corneal surgery devices, fostering agreement among healthcare professionals and sufferers.
The integration of artificial intelligence (AI) and machine learning in corneal surgery devices is rising as a transformative trend. AI-powered diagnostic gear and surgical planning systems make contributions to stepped-forward selection-making, accuracy, and general surgical achievement. The corneal surgery devices market has witnessed a diploma of consolidation through mergers and acquisitions. Larger agencies acquire smaller ones or form strategic alliance goals to bolster their product portfolios and benefit a competitive area inside the evolving market.
Corneal Surgery Devices Market Size was valued at USD 5.31 Billion in 2023. The Global Corneal Surgery Devices industry is projected to grow from USD 5.59 Billion in 2024 to USD 9.89 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.45% during the forecast period (2024 - 2032). Corneal surgery is a surgical procedure where a damaged or infected cornea is treated by transplantation of corneal tissue.
There are two major types of transplantation namely, penetrating keratoplasty and lamellar keratoplasty. An unhealthy or damaged cornea affects the vision by scattering or distorting light and causing glare and blurred vision. Corneal eye disease is the fourth most common cause of blindness after cataracts, glaucoma and age-related macular degeneration.
Causes of damaged cornea include infections such as eye herpes or fungal keratitis, trichiasis, Fuchs' dystrophy, advanced keratoconus, complications from LASIK surgery, chemical burns of the cornea or damage from an eye injury, edema of the cornea, graft rejection following a previous corneal transplant and others.
According to World Health Organization, in 2014, worldwide 285 million people estimated to be visually impaired in which 246 had low vision and 39 million were completely blind and 82% of people living with blindness are aged 50 and above. Increasing prevalence of ophthalmic diseases and increasing aging population is the major factor for the growth of the market.
Moreover, continuous developments and high advancement in the corneal surgery devices, increasing incident 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 humour. Thus, prophylaxis treatment is an important part of the treatment even if there is no infection.
Cornea rejection, occurs in about 20% of cases. Graft failure can also occur at any time after the cornea has been transplanted, even years or decades later. These complications are the greatest barriers for the global corneal surgery market.
Intended Audience
Global corneal surgery devices market is segmented on the basis of devices types, into diagnostic devices, corneal surgery devices, vision care.
Diagnostic devices are further segmented into fundus cameras, keratometers, corneal topographer, ophthalmic ultrasound imaging systems and other.
On the basis of transplantation type, market is segmented into deep anterior lamellar keratoplasty, penetrating keratoplasty, synthetic corneas, and other. Synthetic corneas are further segmented into boston keratoprosthesis, alphacor, osteo-odonto-keratoprosthesis.
On the basis of procedures, they are segmented into pre-operative examination, penetrating keratoplasty, and lamellar keratoplasty
On the basis of end users, they are segmented into ophthalmic clinics, hospitals and other.
Global corneal surgery devices market is dominated by America due to increasing geriatric population and well developed healthcare sector. Additionally, the greater number of hospitalization procedures due to greater healthcare penetration in the U.S. and Canada drives the urethritis market. The high concentration of the major hospitals in the developed countries of this region coupled with good reimbursement rates is adding fuel to the market growth. The consolidation of large healthcare players in the U.S. also cause the growth in the market due to increase in buying power of the healthcare players which results in the economies of scale.
Europe accounts for the second largest market which is followed by Asia Pacific. The growth of Europe market is majorly driven by the increasing number of ophthalmic clinics and other health care organization. Europe is the second largest market in the world due to growing healthcare industry and healthcare penetration. The European market growth is led by countries such as Germany and France. Germany is expected to be the fastest growing market over the assessment period due to its large pharmaceutical industry.
Asia Pacific has the fastest growing market due to the increasing number of patients suffering from visual impairment, and increasing demand for better treatment options. China and India are likely to lead this market due to fast growing healthcare sector and large unmet needs over the forecast period. South East Asian countries such as China, India, and Malaysia are projected to contribute highly to the market growth. The growing penetration of healthcare industry in the Asia Pacific region is expected to drive the future urethritis market in the region.
Gulf nations such as Saudi Arabia and the UAE are estimated to drive the Middle East & African market. Other Middle East nations to watch out for are Kuwait, Jordan, Egypt and Iran. The African region is expected to witness a poor growth owing to poor economic and political conditions, and poor healthcare development. Other regions are expected to be laggards due to poor social development and tribal identities such as sub Saharan Africa.
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)