Ocular Implants Market

The report "Ocular Implants Market by Product (Intraocular Lens, Glaucoma Implants, Orbital Implants), Application (Glaucoma surgery, Oculoplasty, Drug Delivery, Ocular Prosthesis), End User (Hospital, Specialty Eye Institutes) and Geography - Global Forecast to 2027", size is projected to reach USD 18,824.1 million by 2027 from USD 14,033.3 million in 2022, at a CAGR of 6.1% during the forecast period.

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Market is driven by factors such as increasing prevalence of ophthalmologic diseases such as glaucoma, age-related macular degeneration (AMD), rise in awareness of comprehensive eye care services, technological advancement in ocular implants, growth in the geriatric population, inclusion of eye care services in the insurance system, and surge in investments in research and development of innovative products. However, stringent regulatory approvals combined with recent product recalls is expected is anticipated to hinder the market development.

“The Glaucoma implants accounted for the largest market share in the ocular implants market, by product”

The ocular implants market is segmented into introcular lenses, orbital impants, glaucoma implants, ocular prosthesis, and other implants. Glaucoma implants holds the largest share in the market and this is due to increase in awareness regarding glaucoma by the government and non-government organizations and rising incidence of glaucoma.

“Glaucoma surgery segment accounted for the largest market share, in 2021”

Based on application, the ocular implants market is segmented into glaucoma surgery, oculoplasty, drug delivery, age-related macular degeneration, and aesthetic purpose. The glaucoma surgery segment accounted for the largest market share due to the high prevalence of glaucoma in the population that falls in the age group of 45 years and above, increasing incidence of lifestyle diseases, such as diabetes, and rising demand for minimally invasive glaucoma surgery (MIGS) procedures.

“Hospital segment accounted for the largest market share in the ocular implants market, by end user”

The ocular implants market is segmented into hospitals, clinics, and speciality eye institutes. This hospital segment accounts for the largest share in the market due to the increasing number of eye surgeries in the hospital, increasing number of hospitals, and high purchasing power of hospitals to buy advanced eye implants.

“APAC region is expected to grow at the highest CAGR during the forecast period”

The global ocular implants market is divided into five regions: North America, Asia-Pacific, Europe, Latin America, and the Middle East and Africa. According to the regional analysis, the APAC region is likely to retain highest CAGR during the forecast period. This is due to the developing countries such as China and India as they are expected to witness the fastest growth due to massive increase in the geriatric population. Other factors are growing diabetic population, increasing cataract surgeries, and rising expenditure by individuals and the government on eye care.

The major players operating in this market are Alcon (US), Bausch Health Companies Inc. (Canada), Carl Zeiss Meditec AG (Germany), Johnson & Johnson (US), MORCHER GMBH (Germany), and HOYA Corporation (Japan).

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