Artificial Iris Market: Current Scenario and Forecast (2019-2025)

Artificial Iris Market: Current Scenario and Forecast (2019-2025)

Emphasis on Material Type (Fiber Artificial Iris, Fiber-free Artificial Iris), Colour (Blue Colour Artificial Iris, Brown Colour Artificial Iris, Other Colour), Application (Cosmetic, Therapeutic), Age Group (Pediatric, Adults), End-Users (Hospitals, Eye Surgery Centers, Others Eye Care Facility) and Region/Country

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Published: Feb-2020

Pages:169

Table:48

Figure:152

Report ID:UMHE19197

Global Artificial Iris Market was valued at US$ 10.61 million in 2018 and is anticipated to reach US$ 16.28 million by 2025 displaying reasonable CAGR of 6.39% over the forecast period (2019-2025). Artificial iris is a prosthetic iris that is primarily utilized in the process of replacing the damaged iris in several eye defects as such congenital aniridia and traumatic iris loss and other eye complications. The FDA approved the first artificial iris implant for patients with congenital aniridia (absence of an iris) or eye damage, called the CustomFlex from HumanOptics AG, a German firm. An artificial iris is implanted when a surgeon makes a small incision and implants it. This Iris is held in place by the anatomical structures of the eye or, if needed, by sutures, and mimics the function of the natural iris. It creates an artificial pupil that reduces the amount of light entering the eye. The surgically implanted prosthetic is made of thin, foldable silicone and is sized and coloured for individual patients, according to the agency. It was shown to be safe and effective in a clinical trial of 389 adults and children with aniridia or other iris defects. The major drivers that will influence the adoption of artificial iris include a growing number of eye defects, escalating geriatric population and eye defects associated with aging and increasing demand for minimally invasive surgical procedures. However, lack of reimbursement will act as a restraint. Moreover, the advent of artificial intelligence will act as an opportunity.

Key Facts on the state of the world's eyesight

“Amongst material type, Fibre-free artificial iris dominated the global market in 2018, accounting for 55.4% share”

Based on material type, the market has been divided into fibre and fibre free. In 2018, Fibre-free artificial iris dominated the market. Fibre model is composed of an embedded polyester meshwork layer to provide ample tear strength to withstand suturing whereas, the fibre-free model is suitable for sutureless implant techniques or can be sutured. Fibre artificial iris is expected to witness a CAGR growth of 7.01% during the analysed period.

“Adult cohorts are expected to dominate the age group during the forecast period 2019-2025”

In terms of the patient’s age, the market is divided into Paediatrics and adult cohorts. Paediatrics suffering from congenital aniridia can undergo the procedure for the correction of inborn disorder. In 2018, artificial iris implant was majorly performed on adults, which accounted for more than 90% of cases.

“Artificial Iris was majorly applied for Therapeutics application, followed by Cosmetic application”

Based on application, the market has been bifurcated into cosmetic and therapeutic. Cosmetic applications are for the patients who are self-conscious about the appearance of their eyes with an abnormal pupil. Therapeutic application of the artificial iris is for the patient suffering from traumatic iris defects. In 2018, Cosmetic application segment generated revenue of US$ 2.12 million. However, the Therapeutics application segment is expected to witness a CAGR growth of 6.28% during the analysed period.

“Blue colour iris dominated the market, followed by brown colour in 2018”

Based on colour, the global artificial iris market is bifurcated into brown iris and blue iris and other colour artificial iris. Blue colour dominated the market as it is highly preferred by the patients when undergone cosmetic surgery for the changing of eye colour. The brown colour artificial iris segment is expected to generate revenue of US$ 5.65 million by 2025.

Artificial Iris Market Size, by Colour, Global 2018-25 (US$ Mn)

“Amongst end-user, the hospital segment dominated the market in 2018, and is anticipated to dominate Global Artificial Iris market by 2025.”

Based on end-user, the global artificial iris market is segmented into hospitals, eye surgery centres and other end-user. Hospital segment dominated the market as it is one of the major institutions that offer healthcare services such as surgeries and prosthetic implantations. The segment is expected to witness a CAGR growth of 6.1% during the forecast period 2019-2025.

“In 2018, Europe was the largest market for Artificial Iris technology”

For a deep-dive analysis of the overall adoption and penetration of Artificial iris technology, detailed region/country level study was conducted for major region/county including North America (US, Canada, Rest of North America), Europe (Germany, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World. In 2018, Europe represented as the highest revenue-generating region, accounting for 41% share, followed by North America and Asia-Pacific. Asia-Pacific is expected to witness a CAGR growth of 6.96% during the analyzed period 2019-2025.

Competitive Landscape-Top Market Players

Ophtec, HumanOptics AG, Morcher, ReperNN, VEO Ophthalmics, Spectrum Surgical, Eye-yon Medical and Pixium Vision are some of the prominent players operating in the Global Artificial Iris market. Several product launches, M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Reasons to buy:

  • Current and future market size from 2018 to 2025 in terms of value (US$)
  • Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
  • Country-level details of the overall adoption of Artificial Iris market
  • A quick review of overall industry performance at a glance
  • In-depth analysis of key industry players
  • The current and projected scenario of the world's eyesight, techniques for artificial iris implantation and pipeline activity of devices
  • A detailed analysis of drivers, restraints, key trends and opportunities prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start-ups
  • The study comprehensively covers the market across different segments and sub-segments of the technology
  • Region/country Covered: North America (US, Canada, Rest of North America), Europe (Germany, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World

Customization Options:

UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Artificial Iris Market can be customized to the country level or any other market segment.

 

    1.1 Market Definition    
    1.2 Objective of the Study  
    1.3 Limitation    
    1.4 Stakeholders    
    1.5 Currency used in the Report
    1.6 Scope of the Global Artificial Iris Market Study
  2 RESEARCH METHODOLOGY OR ASSUMPTION
    2.1 Research Methodology for Global Artificial Iris Market Study
      2.1.1 Main objective of the Artificial Iris Market Study
  3 INDUSTRY PERFORMANCE    
  4 EXECUTIVE SUMMARY    
  5 CURRENT AND PROJECTED SCENARIO OF THE WORLD'S EYESIGHT
    5.1 General Overview  
      5.1.1 Key Facts on the state of the world's eyesight
      5.1.2 Improving the world’s Eyesight; the Goals of Vision 2020
  6 MARKET OVERVIEW    
    6.1 Introduction    
    6.2 Market Dynamics    
      6.2.1 Market Drivers  
        6.2.1.1 Accelerating Geriatric Population
          6.2.1.1.1 Some of the Key Facts regarding Ageing and health
        6.2.1.2 Growing Number of Eye Defects
        6.2.1.3 Increasing Demand for Minimally Invasive Surgical Procedures
        6.2.1.4 Rising Healthcare Expenditure and Health-Conscious Personals
      6.2.2 Market Restraints  
        6.2.2.1 Side Effects Associated with Implant Procedure
        6.2.2.2 Lack of Reimbursement
        6.2.2.3 Lack of Trained Professionals
      6.2.3 Market Opportunities
        6.2.3.1 Artificial Intelligence (AI) in Ophthalmology
  7 TECHNIQUES FOR ARTIFICIAL IRIS IMPLANTATION
    7.1 Overview    
      7.1.1 Surgical Techniques
      7.1.2 Techniques  
      7.1.3 Sector- or Segment-Shaped Artificial Iris Sutured Side-by-Side to the Residual Iris
      7.1.4 Injector-Assisted Sulcus-Fixated Complete Iris in Pseudophakic Eyes
      7.1.5 Injector-Assisted Implantation of a Complete Iris in the Capsular Bag in Combination with Planned Standard Cataract Surgery
      7.1.6 Complete Iris Prosthesis Implantation Sutured to the Sclera in Combination with a Scleral-Fixated Intraocular Lens in Aniridia and Aphakia of Vitrectomized Eyes
      7.1.7 “Sandwich” or “Backpack” Iris Prosthesis Implantation in Combination with an Intraocular Lens in Aniridia and Aphakia
      7.1.8 Open-Sky Implantation During a Perforating Keratoplasty
  8 DEMAND AND SUPPLY SIDE ANALYSIS
    8.1 Demand Side Analysis  
    8.2 Supply Side Analysis  
      8.2.1 Top Product Launch
      8.2.2 Top Partnerships  
      8.2.3 Top Business Expansion & Investment
    8.3 Value Chain Analysis of Artificial Iris
  9 PIPELINE ACTIVITY    
    9.1 EndoArt Artificial Endothelial Layer: Eye-yon Medical
      9.1.1 Product Description
      9.1.2 Research and Development
    9.2 Retinal Implant System (IRIS): Intelligent Medical Implants
      9.2.1 Product Description
      9.2.2 Research and Development
  10 MARKET INSIGHTS BY MATERIAL TYPE
    10.1 General Overview  
      10.1.1 Fiber Artificial Iris  
        10.1.1.1 Case Study: Comparison of complication rate for artificial iris with or without mesh
      10.1.2 Fiber-free Artificial Iris
  11 MARKET INSIGHTS BY COLOUR  
    11.1 General Overview  
      11.1.1 Blue Colour Artificial Iris
      11.1.2 Brown Colour Artificial Iris
      11.1.3 Other Colour Artificial Iris
  12 MARKET INSIGHTS BY APPLICATION  
    12.1 General Overview  
      12.1.1 Cosmetic Application
      12.1.2 Therapeutic Application
  13 MARKET INSIGHTS BY AGE GROUP  
    13.1 General Overview  
      13.1.1 Pediatric  
      13.1.2 Adults    
  14 MARKET INSIGHTS BY END-USERS  
    14.1 General Overview  
      14.1.1 Hospitals  
      14.1.2 Eye Surgery Centers
      14.1.3 Others Eye Care Facility
  15 MARKET INSIGHTS BY REGION  
    15.1 General Overview  
    15.2 North America Artificial Iris Market (2018-2025)
      15.2.1 North America Artificial Iris Market by Material Type
      15.2.2 North America Artificial Iris Market by Colour
      15.2.3 North America Artificial Iris Market by Application
      15.2.4 North America Artificial Iris Market by Age Group
      15.2.5 North America Artificial Iris Market by End-User
      15.2.6 North America Artificial Iris Market by Country
        15.2.6.1 United States Artificial Iris Market (2018-2025)
          15.2.6.1.1 Eye Health Statistics, US
          15.2.6.1.2 US Health Spending by Type of Service or Product, 2017
          15.2.6.1.3 Health Spending by Major Sources of Funds
          15.2.6.1.4 US Artificial Iris Market by Material Type
          15.2.6.1.5 US Artificial Iris Market by Colour
          15.2.6.1.6 US Artificial Iris Market by Application
          15.2.6.1.7 US Artificial Iris Market by Age Group
          15.2.6.1.8 US Artificial Iris Market by End-User
        15.2.6.2 Canada Artificial Iris Market (2018-2025)
          15.2.6.2.1 The Prevalence of Canadian Vision Loss and Cataract Surgery
          15.2.6.2.2 Key Findings on Canada Healthcare Spending, 2018
          15.2.6.2.3 Key Findings on Hospital sector Spending in Canada, 2017
          15.2.6.2.4 Canadian Population Projection
          15.2.6.2.5 Canada Artificial Iris Market by Material Type
          15.2.6.2.6 Canada Artificial Iris Market by Colour
          15.2.6.2.7 Canada Artificial Iris Market by Application
          15.2.6.2.8 Canada Artificial Iris Market by Age Group
          15.2.6.2.9 Canada Artificial Iris Market by End-User
        15.2.6.3 Rest of North America Artificial Iris market (2018-2025)
          15.2.6.3.1 Rest of North America Artificial Iris Market by Material Type
          15.2.6.3.2 Rest of North America Artificial Iris Market by Colour
          15.2.6.3.3 Rest of North America Artificial Iris Market by Application
          15.2.6.3.4 Rest of North America Artificial Iris Market by Age Group
          15.2.6.3.5 Rest of North America Artificial Iris Market by End-User
    15.3 Europe Artificial Iris Market (2018-2025)
      15.3.1 Key Facts on Trauma, Europe
      15.3.2 Europe Artificial Iris Market by Material Type
      15.3.3 Europe Artificial Iris Market by Colour
      15.3.4 Europe Artificial Iris Market by Application
      15.3.5 Europe Artificial Iris Market by Age Group
      15.3.6 Europe Artificial Iris Market by End-User
      15.3.7 Europe Artificial Iris Market by Country
        15.3.7.1 Germany Artificial Iris Market (2018-2025)
          15.3.7.1.1 Germany Artificial Iris Market by Material Type
          15.3.7.1.2 Germany Artificial Iris Market by Colour
          15.3.7.1.3 Germany Artificial Iris Market by Application
          15.3.7.1.4 Germany Artificial Iris Market by Age Group
          15.3.7.1.5 Germany Artificial Iris Market by End-User
        15.3.7.2 Netherlands Artificial Iris Market (2018-2025)
          15.3.7.2.1 Netherlands Artificial Iris Market by Material Type
          15.3.7.2.2 Netherlands Artificial Iris Market by Colour
          15.3.7.2.3 Netherlands Artificial Iris Market by Application
          15.3.7.2.4 Netherlands Artificial Iris Market by Age Group
          15.3.7.2.5 Netherlands Artificial Iris Market by End-User
        15.3.7.3 Rest of Europe Artificial Iris Market (2018-2025)
          15.3.7.3.1 Rest of Europe Artificial Iris Market by Material Type
          15.3.7.3.2 Rest of Europe Artificial Iris Market by Colour
          15.3.7.3.3 Rest of Europe Artificial Iris Market by Application
          15.3.7.3.4 Rest of Europe Artificial Iris Market by Age Group
          15.3.7.3.5 Rest of Europe Artificial Iris Market by End-User
    15.4 Asia Pacific Artificial Iris Market (2018-2025)
      15.4.1 Asia-Pacific Artificial Iris Market by Material Type
      15.4.2 Asia-Pacific Artificial Iris Market by Colour
      15.4.3 Asia-Pacific Artificial Iris Market by Application
      15.4.4 Asia-Pacific Artificial Iris Market by Age Group
      15.4.5 Asia-Pacific Artificial Iris Market by End-User
      15.4.6 Asia Pacific Artificial Iris Market by Country
        15.4.6.1 Japan Artificial Iris Market (2018-2025)
          15.4.6.1.1 Japan Artificial Iris Market by Material Type
          15.4.6.1.2 Japan Artificial Iris Market by Colour
          15.4.6.1.3 Japan Artificial Iris Market by Application
          15.4.6.1.4 Japan Artificial Iris Market by Age Group
          15.4.6.1.5 Japan Artificial Iris Market by End-User
        15.4.6.2 China Artificial Iris Market (2018-2025)
          15.4.6.2.1 China Artificial Iris Market by Material Type
          15.4.6.2.2 China Artificial Iris Market by Colour
          15.4.6.2.3 China Artificial Iris Market by Application
          15.4.6.2.4 China Artificial Iris Market by Age Group
          15.4.6.2.5 U China S Artificial Iris Market by End-User
        15.4.6.3 India Artificial Iris Market (2018-2025)
          15.4.6.3.1 India Artificial Iris Market by Material Type
          15.4.6.3.2 India Artificial Iris Market by Colour
          15.4.6.3.3 India Artificial Iris Market by Application
          15.4.6.3.4 India Artificial Iris Market by Age Group
          15.4.6.3.5 India Artificial Iris Market by End-User
        15.4.6.4 Rest of APAC Artificial Iris Market (2018-2025)
          15.4.6.4.1 Rest of APAC Artificial Iris Market by Material Type
          15.4.6.4.2 Rest of APAC Artificial Iris Market by Colour
          15.4.6.4.3 Rest of APAC Artificial Iris Market by Application
          15.4.6.4.4 Rest of APAC Artificial Iris Market by Age Group
          15.4.6.4.5 Rest of APAC Artificial Iris Market by End-User
    15.5 Rest of World Artificial Iris Market (2018-2025)
      15.5.1 ROW Artificial Iris Market by Material Type
      15.5.2 ROW Artificial Iris Market by Colour
      15.5.3 ROW Artificial Iris Market by Application
      15.5.4 ROW Artificial Iris Market by Age Group
      15.5.5 ROW Artificial Iris Market by End-User
  16 COMPETITIVE SCENARIO    
    16.1 Porter’s Five forces analysis
      16.1.1 Bargaining power of Supplier
      16.1.2 Bargaining power of Buyer
      16.1.3 Industry Rivalry  
      16.1.4 Availability of Substitute
      16.1.5 Threat of new Entrants
  17 TOP COMPANY PROFILES    
    17.1 Morcher      
      17.1.1 Key Facts  
      17.1.2 Business Description
      17.1.3 Key Product/Services Offerings
      17.1.4 Growth Strategy  
    17.2 Ophtec      
      17.2.1 Key Facts  
      17.2.2 Business Description
      17.2.3 Key Product/Services Offerings
      17.2.4 Growth Strategy  
      17.2.5 SWOT Analysis  
      17.2.6 Recent Developments
        17.2.6.1 Partnerships (Strategic Alliance)
        17.2.6.2 Business Expansion
    17.3 HumanOptics    
      17.3.1 Key Facts  
      17.3.2 Business Description
      17.3.3 Key Product/Services Offerings
      17.3.4 Growth Strategy  
      17.3.5 SWOT Analysis  
    17.4 Reper NN    
      17.4.1 Key Facts  
      17.4.2 Business Description
      17.4.3 Key Product/Services Offerings
    17.5 VEO Ophthalmics    
      17.5.1 Key Facts  
      17.5.2 Business Description
      17.5.3 Key Product/Services Offerings
      17.5.4 Recent Developments
        17.5.4.1 Product Launches
        17.5.4.2 Partnership
    17.6 Spectrum Surgical    
      17.6.1 Key Facts  
      17.6.2 Business Description
      17.6.3 Key Product/Services Offerings
      17.6.4 Growth Strategy  
    17.7 EyeYon Medical    
      17.7.1 Key Facts  
      17.7.2 Business Description
      17.7.3 Key Product/Services Offerings
      17.7.4 Growth Strategy  
    17.8 Pixium Vision    
      17.8.1 Key Facts  
      17.8.2 Business Description
      17.8.3 Key Product/Services Offerings
      17.8.4 Growth Strategy  
      17.8.5 SWOT Analysis  
      17.8.6 Key Financials  
      17.8.7 Recent Developments
        17.8.7.1 Product Launches

Analysing the historical market, estimation of the current market and forecasting the future market for Global Artificial Iris were the three major steps undertaken to create and analyse the overall adoption rate of Artificial Iris in different region globally. Exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the Artificial Iris. Post assumption and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of Artificial Iris market at Global scale to 2025. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global Artificial Iris through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as the World Bank, CDC, European Commission (EC), United Nations and WHO, OECD among others were used.

Step 2: Market Segmentation:

After obtaining the historical market size of the overall market, a detailed secondary analysis was conducted to gather historical market insights and share for different segments and sub-segment of the Global Artificial Iris market. Major segments included in the report are material type, colour, age group, application and end-user.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments detailed factor analysis was conducted to estimate the current market size of the global Artificial Iris. Factor analysis was conducted using dependent and independent variable such as accelerating aging population, growing number of eye defects and rising demand for minimally invasive surgical procedures. Historical trends of the global Artificial Iris market and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and the supply-side scenario was also thoroughly studied.

 

 

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players and industry’s supply chain. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of Artificial Iris globally
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as the market share of each player. Also, the growth strategies adopted by these players to compete in the ever-growing global Artificial Iris market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research was consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the Global Artificial Iris market. Data was split into several segments post studying various parameters and trends in the areas of application such as material, colour, age group, application, end-user and regions including North America, Europe, Asia-Pacific and Rest of the World

Main objective of the Global Artificial Iris Market Study

The current & future market trends of the Global Artificial Iris market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the global Artificial Iris market in terms of value (US$) and volume
  • Analyze the current and forecast market size of different segments and sub-segments of the global Artificial Iris market
  • To analyze the revenue and business models of the market players in the industry
  • To understand the initiatives undertaken by companies and service providers to increase the overall penetration of Artificial Iris in major markets
  • Define and describe the segments and sub-segments considered in the evaluation of the global Artificial Iris market and anticipate potential risk associated with the market
  • Define and analysis of the government regulations for the Artificial Iris
  • Analyze the current and forecast market size of the global Artificial Iris market for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World
  • Define and analyze the competitive landscape of the global Artificial Iris market and the growth strategies adopted by the market players to sustain in the fast-growing market

 

Analysing the historical market, estimation of the current market and forecasting the future market for Global Artificial Iris were the three major steps undertaken to create and analyse the overall adoption rate of Artificial Iris in different region globally. Exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across the value chain of the Artificial Iris. Post assumption and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of Artificial Iris market at Global scale to 2025. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global Artificial Iris through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as the World Bank, CDC, European Commission (EC), United Nations and WHO, OECD among others were used.

Step 2: Market Segmentation:

After obtaining the historical market size of the overall market, a detailed secondary analysis was conducted to gather historical market insights and share for different segments and sub-segment of the Global Artificial Iris market. Major segments included in the report are material type, colour, age group, application and end-user.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments detailed factor analysis was conducted to estimate the current market size of the global Artificial Iris. Factor analysis was conducted using dependent and independent variable such as accelerating aging population, growing number of eye defects and rising demand for minimally invasive surgical procedures. Historical trends of the global Artificial Iris market and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and the supply-side scenario was also thoroughly studied.

 

 

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players and industry’s supply chain. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up approach was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of Artificial Iris globally
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as the market share of each player. Also, the growth strategies adopted by these players to compete in the ever-growing global Artificial Iris market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research was consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the Global Artificial Iris market. Data was split into several segments post studying various parameters and trends in the areas of application such as material, colour, age group, application, end-user and regions including North America, Europe, Asia-Pacific and Rest of the World

Main objective of the Global Artificial Iris Market Study

The current & future market trends of the Global Artificial Iris market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the global Artificial Iris market in terms of value (US$) and volume
  • Analyze the current and forecast market size of different segments and sub-segments of the global Artificial Iris market
  • To analyze the revenue and business models of the market players in the industry
  • To understand the initiatives undertaken by companies and service providers to increase the overall penetration of Artificial Iris in major markets
  • Define and describe the segments and sub-segments considered in the evaluation of the global Artificial Iris market and anticipate potential risk associated with the market
  • Define and analysis of the government regulations for the Artificial Iris
  • Analyze the current and forecast market size of the global Artificial Iris market for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World
  • Define and analyze the competitive landscape of the global Artificial Iris market and the growth strategies adopted by the market players to sustain in the fast-growing market

 


Artificial Iris Market: Current Scenario and Forecast (2019-2025)