The Global Artificial Iris Market is Expected to Foresee Significant Growth. North America to Lead the Growth!

Global artificial iris market is expected to register a CAGR of ~7% over the period of 2022-2028. Iris defects can occur for numerous reasons whether congenital or acquired from loss of tissue following blunt or penetrating trauma. In numerous cases, patients with iris defects experience increased light sensitivity or photophobia, glare, and cosmetic impairment. In cases of iris defects deriving from trauma, the affected eyes often have additional alterations such as corneal and scleral scars, aphakia, traumatic cataracts, and retinal damage. Several factors such as the accelerating geriatric population, a growing number of eye defects such as aniridia, congenital mydriasis, and coloboma, and increasing demand for minimally invasive surgical procedures are driving the growth of the market. For instance, according to World Health Organization (WHO) 2022, the number of people aged 65 and above is projected to grow from 524 million in 2010 to nearly 1.5 billion in 2050 with the maximum increase in developing countries. Rapid aging leads to several age-related eye disorders associated with vision such as cataracts and may result in Aphakia. This will directly impact the adoption of artificial iris for vision correction. Therefore, the market is expected to grow during the forecasted period.

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Based on the material type, the artificial iris market is bifurcated into fiber and fiber-free. The fiber-free segment accounted for a significant market share in 2021 and is estimated to grow rapidly during the projected timeframe owing to the benefits associated with this material type. For instance, studies revealed that the fiber-free material type is suitable for sutureless implant techniques, and the fiber-free model can be implanted as a full diaphragm either within the ciliary sulcus or within the capsular bag, thereby leading to the growth of the segment.

Based on the end-users, the market is fragmented into hospitals, eye surgery centers, and others. The hospitals segment grabbed a considerable market share and is expected to grow at a significant CAGR during the forecast period owing to the high penetration of the artificial iris device in the hospitals segment. The hospital is one of the major institutions that offer healthcare services such as surgeries and prosthetic implantations. Several hospitals have started offering services designed for artificial iris implantation to make the process smoother for patients.

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For a better understanding of the market adoption of artificial iris, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, Netherlands, and the Rest of Europe), Asia-Pacific (Japan, China, India and Rest of Asia-Pacific), and the Rest of World. North America constitutes a major market for the artificial iris industry owing to the improving healthcare facilities and services driving the development and adoption of more advanced technologies in North America. An increase in the aging population and an escalation of eye-related disorders will drive the market for artificial iris market in this region. Moreover, healthcare spending is highest in this region driving the adoption of these services.

Some of the major players operating in the artificial iris market are Morcher, Ophtec, HumanOptics, Reper NN, VEO Ophthalmics, Spectrum Surgical, EyeYon Medical, and Pixium Vision among others. Several M&A’s along with partnerships have been undertaken by these players.

Global Artificial iris Market Segmentation

Market Insight, by Material Type

· Fiber

· Fiber-free

Market Insight, by Colour

· Blue

· Brown

· Others

Market Insight, by Application

· Cosmetic

· Therapeutic

Market Insight, by Age Group

· Pediatric

· Adults

Market Insight, by End-Users

· Hospitals

· Eye Surgery Centers

· Others

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o Germany

o Netherlands

o Rest of Europe

· Asia-Pacific

o Japan

o China

o India

o Rest of Asia-Pacific

· Rest of World

Top Company Profiles

· Morcher

· Ophtec

· HumanOptics

· Reper NN

· VEO Ophthalmics

· Spectrum Surgical

· EyeYon Medical

Pixiu