Ocular Implants Market by Product and Geography - Forecast and Analysis 2022-2026

The ocular implants market share is expected to increase by USD 1.82 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.26%.

This ocular implants market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers ocular implant market segmentation by product (IOLs, corneal implants, glaucoma implants, and ocular prostheses) and geography (North America, Europe, Asia, and Rest of World (ROW)). The ocular implants market report also offers information on several market vendors, including AJL Ophthalmic SA, Bausch Health Companies Inc., Becton Dickinson and Co., Care Group Sight Solution Pvt. Ltd., Carl Zeiss AG, CorNeat Vision Ltd, EyeD Pharma s.a., F.AD. Muller Sohne GmbH and Co. KG, Glaukos Corp, Gulden Ophthalmics, HOYA Corp., HumanOptics Holding AG, Johnson and Johnson, Morcher GmbH, NIDEK Co. Ltd, Novartis AG, Omni Lens Pvt Ltd, Ophtec BV, Rayner Intraocular Lenses Ltd., and Second Sight Medical Products Inc. among others.

What will the Ocular Implants Market Size be During the Forecast Period?

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Ocular Implants Market: Key Drivers, Trends, and Challenges

The increasing prevalence of ophthalmic diseases is notably driving the ocular implants market growth, although factors such as the high cost of premium ocular implants may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the ocular implants industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Ocular Implants Market Driver

One of the key factors driving growth in the ocular implant market is the increasing prevalence of ophthalmic diseases. The incidence of ophthalmology diseases such as cataracts, glaucoma, and corneal scarring is increasing. These diseases require diagnosis, and in some cases, patients may have to undergo surgical procedures using ocular implants. Cataract surgery is among the most frequently performed surgical procedures in various developed and developing countries. Hence, the demand for IOLs used in cataract surgery is expected to surge shortly due to factors such as increasing incidence of cataract cases, changing demographic trends, advances in cataract surgery techniques, increasing geriatric population, and reducing surgery costs. The increasing prevalence of cataracts, glaucoma and corneal scarring will drive the demand for ocular implants such as IOLs, ocular prostheses, corneal implants, and glaucoma implants. The availability of reimbursement in developed countries such as Canada, the US, the UK, and Germany for the treatment of ophthalmic diseases will further propel the demand for ocular implants and, thus, the market growth.

Key Ocular Implants Market Trend

Custom-made ocular prostheses is an ocular implants market trend that is expected to have a positive impact in the coming years. Ocular defects caused due to cases such as trauma, surgery, cancer, and anophthalmos or microphthalmos negatively impact the psychological well-being of an individual and act as a social stigma. Customized ocular prostheses, in such cases, can help improve psychological well-being and restore confidence. There is a growing preference for custom-made ocular prostheses, as prefabricated prostheses and stock eye prostheses pose certain disadvantages such as poor fit, constant tissue irritation due to bacterial growth in the accumulated fluid in the tissue-prosthesis interface, and compromised esthetic outcome, which leads to poor eye movement. The growing demand for customized and personalized care will certainly lead to increased use of custom-made prostheses and thus drive market growth during the forecast period.

Key Ocular Implants Market Challenge

The high cost of premium ocular implants will be a major challenge for the ocular implants market during the forecast period. Technologically advanced devices used for ophthalmic surgeries are costly, as they include additional features that are unavailable in conventional devices. The high price of advanced ocular implants such as premium IOLs, glaucoma implants, and corneal implants increases the cost burden on end-users. Resultantly, some end-users fail to accommodate expensive cataract surgery devices. Moreover, there is limited or an absence of health insurance coverage for premium ocular implants, as insurance companies do not consider additional features as a medical necessity. Thus, patients who prefer premium ocular implants must bear out-of-pocket costs even after having medical insurance in the range of $1,500-$3,000 for each eye, depending on the type of ocular implant used. The high cost of ocular implants makes them unaffordable without insurance coverage for most end-users. This is restricting the growth of the global ocular implants market.

This ocular implants market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global ocular implants market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the ocular implants market during the forecast period.

Who are the Major Ocular Implants Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• AJL Ophthalmic SA
• Bausch Health Companies Inc.
• Becton Dickinson and Co.
• Care Group Sight Solution Pvt. Ltd.
• Carl Zeiss AG
• CorNeat Vision Ltd
• EyeD Pharma s.a.
• F.AD. Muller Sohne GmbH and Co. KG
• Glaukos Corp
• Gulden Ophthalmics
• HOYA Corp.
• HumanOptics Holding AG
• Johnson and Johnson
• Morcher GmbH
• NIDEK Co. Ltd
• Novartis AG
• Omni Lens Pvt Ltd
• Ophtec BV
• Rayner Intraocular Lenses Ltd.
• Second Sight Medical Products Inc.

 

This statistical study of the ocular implants market encompasses successful business strategies deployed by the key vendors. The ocular implants market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• AJL Ophthalmic SA - AJL Ophthalmic SA is a privately held company headquartered in Spain. It is a regional company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from the global ocular implants market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• AJL Ophthalmic SA - The company offers ocular implants such as intraocular lenses, cataracts, and oculoplastic. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The ocular implants market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.

Ocular Implants Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the ocular implants market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Ocular Implants Market?

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36% of the market’s growth will originate from North America during the forecast period. The US is the key market for ocular implants in North America. Market growth in this region will be faster than the growth of the market in the ROW regions.

The increase in public healthcare expenditure will facilitate the ocular implants market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 and 2021 severely impacted the ocular implants market in North America. The exponential rise in the number of COVID-19 cases compelled the governments of various countries in the region to impose restrictions on businesses and transportation activities, which led to the closure of manufacturing units and negatively affected the distribution of ocular implants. However, in 2021, the introduction of COVID-19 vaccines, the lifting of lockdowns, and the rescheduling of surgical operations contributed to the growth of the regional market. 

What are the Revenue-generating Product Segments in the Ocular Implants Market?

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The ocular implants market share growth in the IOLs segment will be significant during the forecast period. The global IOLs market is growing due to the increasing focus of vendors on manufacturing innovative products with enhanced capabilities and efficiency. IOL implant surgeries are one of the most successful ophthalmic surgical procedures, and more than 15 million IOLs are implanted every year across the globe. This is attributed to the growing aging population and increasing demand for high-quality vision care products. Currently, many types of IOLs are available in the market, such as silicone IOLs, foldable IOLs, single-piece IOLs, and three-piece IOLs. Silicone IOLs have been in extensive use: however, they are not suitable for micro incisions. There is a growing demand for foldable IOLs, and many vendors are focusing on manufacturing them. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the ocular implants market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Ocular Implants Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 7.26%
Market growth 2022-2026	$1.82 billion
Market structure	Fragmented
YoY growth (%)	6.34
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 36%
Key consumer countries	US, Germany, France, UK, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AJL Ophthalmic SA, Bausch Health Companies Inc., Becton Dickinson and Co., Care Group Sight Solution Pvt. Ltd., Carl Zeiss AG, CorNeat Vision Ltd, EyeD Pharma s.a., F.AD. Muller Sohne GmbH and Co. KG, Glaukos Corp, Gulden Ophthalmics, HOYA Corp., HumanOptics Holding AG, Johnson and Johnson, Morcher GmbH, NIDEK Co. Ltd, Novartis AG, Omni Lens Pvt Ltd, Ophtec BV, Rayner Intraocular Lenses Ltd., and Second Sight Medical Products Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Ocular Implants Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive ocular implants market growth during the next five years
• Precise estimation of the ocular implants market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the ocular implants industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of ocular implants market vendors

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