Global Corneal Transplant Market – Overview
The global market for Corneal Transplant is growing pervasively over last decade. Factors such as increasing prevalence injuries & diseases related to the eye/ sight that fuel the transplants cases are fuelling the market growth to an extent. Also the risk factors for the blindness & eye sight disorders are creating the demand for the better Corneal Transplants and treatment methods in turn, speed up the market growth.
Accrediting the kind of growth the market is witnessing and the growth prospect the market is demonstrating, Market Research Future (MRFR), has recently published a brilliant study report. According to MRFR, the Global Corneal Transplant market is expected to perceive exponential growth, registering 8.5% CAGR during the forecasted period (2017 -2023).
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Other factors propelling the market growth include the changing lifestyle owing to the growing urbanization & industrialization coupled with the growing economic conditions that enable access to the quality life & to the improved healthcare worldwide. Advancements in surgeries, fuel the market growth. In addition, factors such as increasing number of surgeries and rising demand for new techniques for the treatment provide major impetus to the market growth.
On the other hand, factors such as prohibitive costs associated with Corneal Transplant and the differential awareness and availability between developing and the developed world are posing challenges to the market growth. Nevertheless, new products and services offered to the developing countries and emerging economies by the well-established market players in the developed countries are filling up this gap. This will resultantly foster the market growth.
Global Corneal Transplant Market – Competitive Analysis
The global Corneal Transplant market is a fragmented market with a large number of players. Product development strategy has been curtailed by the excellent efficiency and efficacy of drugs. However, the rise of drug resistance has opened doors for new drug development and is an opportunity for a new market leader. The rise of spurious and counterfeit medicines have reduced the total market revenues and at the same time displaced standard drugs off the market.
March 10, 2018 – All India Institute of Medical Sciences (AIIMS) announced that the eye bank housed in the AIIMS campus from last 50 years, have conducted around 17,000 corneal transplant surgeries till date. Out of which 1,285 transplants were done in 2017. To commemorate the occasion, the AIIMS had lined up various programmes.
March 22, 2018 – Researchers at UCL Institute of Ophthalmology in collaboration with Moorfields Eye Hospital London published the study a new genetic cause of corneal dystrophy that they have discovered. The research was funded by the programme – ‘Fight for Sight’.
Global Corneal Transplant Market – Segments
For an easy grasp and enhanced understanding, the report – Global Corneal Transplant Market is segmented in to 4 Key dynamics;
By Surgery Types : Comprises – Penetrating Keratoplasty, DSAEK (Descemet Stripping Automated Endothelial Keratoplasty), Endothelial Keratoplasty, Corneal Graft, and Corneal Limbal Stem Cell Transplant among others.
By Indications : Bullous Keratopathy, Fungal Corneal Ulcer, Keratoconus, Corneal Stromal Dystrophies, and Keratitis among others.
By End Users : Hospitals & Eye clinics among others.
By Regions : North America, Europe, APAC and Rest of the World.
Global Corneal Transplant Market – Regional Analysis
Globally, Europe is the largest market for the Corneal Transplant. Factors such as the availability of multiple treatment options, prevention strategy as well as rising influence of organ donation programs, coupled with the increased government emphasis on organ donation policies drive the regional growth of the market. Moreover, increasing prevalence of diabetes in the region are providing impetus to the market growth.
While North America region stands as the second-largest market for Corneal Transplant. This growth attributes to the increasing demand for corneal transplant surgery coupled with the growing prevalence of eye diseases, and vision impairment among people in the region drive the regional market growth. Moreover, growing Centers for Disease Control and Prevention, coupled with the age-related eye diseases such as age-related macular degeneration, cataract, diabetic retinopathy, and glaucoma are leading causes of blindness and vision imparity especially in the United States; such factors foster the regional market growth.
On the other hand the developing regions markets particularly Asia Pacific will be the fastest growing market for Corneal Transplant. Risk factors for the eye diseases such as the ever-increasing prevalence of chronic diseases such as diabetes, diabetic retinopathy, and obesity provide impetus to the growth of the regional market. Attributing to the availability of qualitative eye care treatment and skilled medical professionals, India has become one of the international medical tourism destinations across the world. This, in turn fuels the growth of corneal transplant market in India resultantly, fostering the growth of the APAC market.
Global Corneal Transplant Market- Top Leaders
Exactech, Inc. (US), CryoLife, Inc. (US), Köhler GmbH (US), LifeCell Corporation (US), Lifeline Scientific (US), Organogenesis Inc. (US) and Medtronic (US) are some of the prominent players profiled in MRFR Analysis and are at the forefront of the competition in the Global Corneal Transplant Market.
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