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

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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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169

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152

Report ID:

UMHE19197

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Report Description
Table of content
Research Methodology

Report Description

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

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

Research Methodology

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