Ocular Implants Market: Current Analysis and Forecast (2021-2027)

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Emphasis on Product (Intraocular Lenses, Corneal Implants, Orbital Implants, Glaucoma Implants, Ocular Prosthesis, Others), Materials [Non-integrated Implants (Acrylic, Glass, Silicon), Integrated Implants (Aluminum Oxide, Hydroxyapatite, Others)]; Application (Glaucoma Surgery, Drug Delivery, Aesthetics, Oculoplasty, Age-related Muscular Degeneration, Others); End-Users (Hospitals, Specialty Clinics, Eye Institutes, Others); and Region & Country.

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173

Table:

42

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84

Report ID:

UMHE21251

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Report Description
Table of content
Research Methodology

Report Description

Ocular Implants Market is expected to exceed the market valuation of more than US$ 17.7 billion in 2027 and is expected to grow at a significant CAGR of 6% during the forecast period (2021-2027). This is due to the increase in the aging population across the globe and the availability of reimbursement facilities which is boosting the market growth. For instance: as per census.gov in the 2030s when baby boomers will be older than 65 years, 21% of the American population will be elderly which is a significant rise from 15% in 2018. In addition, the advancement in ocular implant technology is also enhancing the market growth globally.

The advancing technologies and the growing elderly populations are the main reasons for the high market growth. Additionally, the increase in chronic and eye diseases is also helping the growth in the Ocular Implants. For instance: about 3 million Americans are currently suffering from Glaucoma. Additionally, in 2019, 16.5% of the American population was 65 years or older. With this growing elderly population, the number of eye complication due to aging are also increasing. Cataract surgeries are performed more than 2 million times every year in the United States. All this is helping the growth of the Ocular Implants market in the region.

Reasons of Moderate or Severe Distance Vision Impairment (Mn), 2021

Novartis AG, Johnson and Johnson, Pfizer Inc., Poriferous LLC, Novamed Ltd, Network Medical Products Ltd., Bausch and Lomb Incorporated, STAAR Surgical, Carl Zeiss Meditec AG, MOCHER GmbH are some of the prominent players operating in the Ocular Implants market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Product, Ocular Implants segment holds the major share”

Based on Product, Ocular Implants Market is segmented into intraocular lenses, corneal implants, orbital implants, glaucoma implants, ocular implants, and others. The intralocular implants segment was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. An intraocular lens (IOL) is an artificial lens inserted in the eye. It replaces the natural lens of the eye which is removed during cataract surgery. IOL helps bend light rays to enter the eye better, helping the individual see better. According to WHO, 65 million individuals are suffering from cataracts currently throughout the world. This number is increasing yearly with the increase in the geriatric population. The National Eye Institute published that cataracts are most prevalent in populations over the age of 80 (68.3% in the U.S.) and in the 70-79 age group (42.8% in the U.S).

“Amongst Material, Acrylic segment holds the major share”

Based on Material, Ocular Implants Market can be bifurcated into integrated or non-integrated. Integrated ocular implants further include aluminum oxide, hydroxyapatite, and others. Non-Integrated ocular implants further include acrylic, glass, and silicon. Acrylic accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027, at a CAGR of XX% over the analyzed period. Acrylic, also known as Polymethyl methacrylate (PMMA) is a transparent thermoplastic that can be used as ocular prosthesis or as replacement intraocular lenses after the treatment of cataracts when the original lens has been removed. Acrylic has much higher compatibility with human tissues than glass. Surgeons typically implant more than 6 million lenses per year. The procedure takes less than 30 minutes and a 2-3-week recovery period is required.

“Amongst Application, Glaucoma Surgery segment holds the major share”

Based on Application, Ocular Implants market can be segmented into glaucoma surgery, drug delivery, aesthetics, oculoplasty, age-related muscular degeneration, and others. The glaucoma surgery segment generated revenue of US$ XX billion in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of US$ XX billion by 2027F. This was since there is a growing awareness about this disease among people increases the demand for its early treatment. In 2017, there were an estimated 57.5 million people affected with glaucoma worldwide and this number has gone up to 76 million in 2020.

“Amongst End-User, Hospitals segment holds the major share”

Based on End-User, the market is segmented into hospitals, specialty clinics, eye institutes, and others. The hospitals’ segment was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. However, the fastest-growing segments are anticipated to be eye institutes with a CAGR of XX% owing to the rising eye care services in remote areas. The number of people above the age of 60 years is expected to become 2.1 billion by 2050. Additionally, by 2050, around 50% of the world will be myopic due to the significant increase of myopia among young children. This trend is due to an increase in the number of people needed ocular implants and boosts the growth of the ocular implants market.

“North America represents one of the largest markets of Ocular Implants market”

For a better understanding of the market dynamics of the Ocular Implants market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. North America dominated the market and grabbed around XX% market share owing to an increase in awareness among people about visual impairments and their cures.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

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  1.1Market Definitions
  1.2Objective of the Study
  1.3Limitation
  1.4Stake Holders
  1.5Currency Used in Report
  1.6Scope of the Ocular Implants Market Study
  2.1Research Methodology for the Ocular Implants Market
   2.1.1Main Objective of the Ocular Implants Market

 

  6.1Intraocular Lenses
  6.2Corneal Implants
  6.3Orbital Implants
  6.4Glaucoma Implants
  6.5Ocular Prosthesis
  6.6Others
  7.1Non-Integrated Implants
   7.1.1Acrylic
   7.1.2Glass
   7.1.3Silicon
  7.2Integrated Implants
   7.2.1Aluminum Oxide
   7.2.2Hydroxyapatite
   7.2.3Others
  8.1Glaucoma Surgery
  8.2Drug Delivery
  8.3Aesthetics
  8.4Oculoplasty
  8.5Age-related Muscular Degeneration
  8.6Others
  9.1Hospitals 
  9.2Specialty clinics
  9.3Eye Institutes
  9.4Others
  10.1NORTH AMERICA OCULAR IMPLANTS MARKET
   10.1.1United States
   10.1.2Canada
   10.1.3Rest of North America
  10.2EUROPE OCULAR IMPLANTS MARKET
   10.2.1United Kingdom
   10.2.2Germany
   10.2.3France
   10.2.4Spain 
   10.2.5Italy
   10.2.6Rest of Europe
  10.3ASIA-PACIFIC OCULAR IMPLANTS MARKET
   10.3.1China
   10.3.2Japan
   10.3.3India
   10.3.4Australia
   10.3.5Rest of Asia-Pacific
  10.4REST OF THE WORLD OCULAR IMPLANTS MARKET

 

  12.1Demand Side Analysis
  12.2Supply Side Analysis
   12.2.1Top Product Launches
   12.2.2Top Business Partnerships
   12.2.3Top Business Expansions, Investments and Divestitures
   12.2.4Top Merger and Acquisitions
  15.1Drivers 
  15.2Challenges
  15.3Impact Analysis
  15.4Opportunity

 

 16.1Ocular Implants Market Share, by Company 2020
  17.1Novartis AG
  17.2Johnson and Johnson
  17.3Pfizer Inc. 
  17.4Poriferous LLC
  17.5Novamed Ltd
  17.6Network Medical Products Ltd
  17.7Bausch and Lomb Incorporated
  17.8STAAR Surgical
  17.9Carl Zeiss Meditec AG
  17.10MOCHER GmbH

 

Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Ocular Implants market were the three major steps undertaken to create and analyze the adoption of Ocular Implants in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Ocular Implants market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. 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 Ocular Implants through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Ocular Implants market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product, material, application and end-user. Further country-level analyses were conducted to evaluate the overall adoption of Ocular Implants in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Ocular Implants. Further, we conducted factor analysis using dependent and independent variables such as the rise of cataract surgeries and awareness among people. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Ocular Implants sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Ocular Implants market, and market shares of the segments. 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, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e. top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of Ocular Implants across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the Ocular Implants market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing 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, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Ocular Implants market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and their type of the Ocular Implants market.

The main objective of the Ocular Implants Market Study

The current & future market trends of Ocular Implants were 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 were determined the overall attractiveness of the market at a regional level, 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 Ocular Implants in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of type and their subtypes
  • Define and analysis of the regulatory framework for the Ocular Implants industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the Ocular Implants market for the major region
  • Major regions studied in the report include North America (the U.S, Canada, and Rest of North America), Europe (Germany, United Kingdom, France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Others), and the Rest of World
  • Company profiles of the Ocular Implants market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry