Ocular Implants Market Research Report Segmented By Product (Intraocular lenses, Corneal implants, Orbital implants, Glaucoma implants, Ocular prosthesis, Others); Application (Glaucoma surgery, Oculoplasty, Drug delivery, Age-related macular degeneration, Aesthetic purpose); End-User (Hospitals, Specialty eye institutes, Clinics); and Region - Size, Share, Growth Analysis | Forecast (2024 2030)

Ocular Implants Market Size Projection (2024-2030)

The projected expansion of the global ocular implants market anticipates a Compound Annual Growth Rate (CAGR) of 7.8% from 2024 to 2030.

Ocular implants represent medical devices designed to replace or repair damaged eyes, enhancing the visual capabilities of patients. Various eye implants, such as those employed in glaucoma surgery, corneal implants, and intraocular lenses, cater to diverse eye disorders. Additionally, ocular prostheses, serving as artificial eyes, offer a solution for individuals whose facial features have been affected by eye diseases or trauma.

Impact of COVID-19 on the Ocular Implants Market:

The sudden onset of the COVID-19 pandemic has globally disrupted industries, with the healthcare sector experiencing notable challenges during the initial 18 months. The American Academy of Ophthalmology has provided guidelines addressing the impact on both emergency and non-emergency eye-related services. Notably, individuals with pre-existing chronic conditions, such as lung diseases and diabetes, face increased vulnerability concerning ocular implants. Despite the pandemic, there has been a heightened demand for ocular implants since its inception.

Market Drivers:

The ocular implants market is propelled by the increasing prevalence of corneal diseases among the elderly population.

The World Health Organization (WHO) reports that approximately 30 million individuals suffer from cornea diseases, with nearly two million new cases diagnosed annually. Globally, the rising incidence of visual impairment, particularly among older adults, serves as a significant driver for market growth. Governments are actively initiating awareness campaigns to educate the public about available treatments and preventive measures.

Cataracts, responsible for over 50.9% of global blindness, affect nearly 20 million people worldwide. The escalating number of glaucoma cases, reaching 76.0 million by 2020 from 64.3 million in 2013 according to the American Academy of Ophthalmology, contributes to the surge in demand for ocular implants. Additionally, government initiatives aimed at advancing research and development in healthcare further stimulate the ocular implants market.

Market Restraints:

A notable impediment to the global growth of the ocular implants market is the shortage of skilled and experienced professionals capable of handling the intricate medical processes associated with these implants.

Segment Analysis:

The global Ocular Implants Market is categorized and further divided based on the product, application, and end-use.

Ocular Implants Market - By Product

• Intraocular lenses
• Corneal implants
• Orbital implants
• Glaucoma implants
• Ocular prosthesis
• Others

Among these, the intraocular lenses segment dominates the ocular implants market, driven by the consistent rise in cataracts, rapid technological advancements, and increased availability of this device type. The glaucoma implants segment is poised for significant growth, fueled by the introduction of innovative glaucoma implantable devices such as MIGS (micro-invasive glaucoma services). The growing emphasis on aesthetic value, coupled with the rising adoption of ocular implants, propels the overall market growth.

Ocular Implants Market - By Application

• Glaucoma surgery
• Oculoplasty
• Drug delivery
• Age-related macular degeneration
• Aesthetic purpose

The glaucoma surgery application holds the largest market share, driven by an increased awareness of eye diseases and a growing incidence of glaucoma. The forecast predicts a substantial rise in Americans suffering from glaucoma by 2030. Age-related macular degeneration (AMD) is also expected to grow rapidly, supported by technological advancements and the increasing occurrence of AMD.

Ocular Implants Market - By End-User

• Hospitals
• Specialty eye institutes
• Clinics

The hospital end-user segment dominates the ocular implants market due to a growing patient population seeking continuous treatment for vision impairment. The specialty eye institutes segment is the fastest-growing, driven by the rising demand for eye care services, particularly in remote or rural areas.

Ocular Implants Market - By Regional Analysis:

• North America: The North American ocular implants market leads throughout the period, supported by higher penetration of advanced ocular implants and an increasing prevalence of low vision, cataract problems, and other eye-related issues.
• Europe: Europe is expected to witness significant developments in the ocular implants market due to a rising incidence of eye problems. The adoption of advanced ophthalmic devices in countries like France, the U.K, and Germany contributes to market growth.
• Asia-Pacific: The Asia-Pacific region is anticipated to experience the fastest CAGR during the mentioned period, driven by a growing geriatric population, a high incidence of diabetes, and an increasing number of cataract diseases and blindness. Key players' presence further supports market growth.
• Latin America: The ocular implants market in Latin America is projected to maintain a steady and constant growth rate throughout the forecast period.
• Middle East & Africa: The Middle East & African ocular implants market is expected to have a sluggish share, with the majority contributed by UAE, Saudi Arabia, Israel, Egypt, and GCC.

Ocular Implants Market - Key Players

Major key players in the ocular implants market include:

1. Bausch & Lomb
2. Alcon
3. Carl Zeiss
4. Johnson & Johnson
5. MORCHER GmbH
6. STAAR Surgical

Recent Market Developments

• On April 07, 2021, Bausch+Lomb announced the U.S FDA approval for ClearVisc dispersive ophthalmic viscosurgical device (OVD) for use in ophthalmic surgery .
• On May 06, 2021, Johnson and Johnson announced the launch of TECNIS Synergy and TECNIS Synergy Toric III IOLS, and the Health Canada approval of TECNIS Synergy Toric II IOLS, received the U.S FDA approval .
• On November 08, 2021, Alcon disclosed its SMART Solutions, designed for ophthalmology. The new solution will feature its latest advancements in integrated and connected surgical technologies.